Global Heavy Construction Type Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 7.2% from 2020 to 2027, reaching US$ XX Mn. The report has covered Country market trends with a competitive landscape. Global Heavy Construction Type Market Overview: The heavy construction equipment market is achieving acceleration in the new construction sector owing to factors like terrestrial development in developing markets & acceptance of heavy construction equipment delivers lucrative breaks for market player during the forecast period. Additional factors motivating the heavy construction equipment market are speedy urbanization & rise in investments in the construction & manufacturing industry. Investments in the construction & manufacturing industry: Key driving factor The need for heavy construction equipment is driven by the growing investment in construction actions. For example, China is anticipated to invest USD 13.1 Bn for the expansion & construction of the Beijing International Airport which is planned to handle about 45 Mn people yearly from 2019 to 2025 as declared by the representative of Beijing New Airport Construction Headquarters. Similarly, in Ho Chi Minh City of Vietnam, an 81-story 480m, super tower is constructed in the year 2017. Governments everywhere in the world are pumping money to generate demand for goods & services by creating jobs over higher expenditure in physical & social infrastructure. The 2020 Olympics to be held in Tokyo (Japan) & the 2022 FIFA World Cup to be held in Qatar are powering construction expenditure in the Asian & Middles Eastern regions. Qatar’s local association strategies to construct nine new stadiums & renew three current stadiums for the event. Spending on such capital-intensive plans & infrastructure is anticipated to continue to raise significantly during the forecast period, which is driving development of the heavy construction equipment market globally. One of the key difficulties faced by heavy construction equipment companies is region-wise government rules. For an enterprise to start heavy construction, it needs to experience a lengthy & difficult procedure of obtaining a license after many required checks. For example, since the construction industry usages more diesel engines than any other industry, in order to meet EU emissions rules, proper baseline data is composed to sufficiently describe the environmental condition of the zone. Analyses are approved related to cultural & historical resources, soil, surface & groundwater hydrology, climatology, & wetlands. After the license is ready & submitted to the controlling agency, it goes through completeness & technical reviews. Maintenance & repair-related concerns: Maintenance, Repair, & Operation includes performing routine services to keep the equipment in working order. High charges are involved in the maintenance & repair of heavy equipment. Protecting maintenance is essential to avoid failure, with slight work like tire check, vehicle or lube job check, being completed regularly for this. Corrective maintenance is carried out after failure of the equipment. To work on such heavy equipment, expert labor power is necessary. In emerging nations like India, such skilled labor power is limited, which leads to the necessity of rigorous training of the workforce, causing in higher prices & posing a challenge for market development. Opportunity for the market: Renting or leasing of heavy construction equipment is measured helpful to construction contract establishments, as it satisfies the client’s need of the equipment without giving its total cost. One of the benefits related with renting/leasing is that this can be according to the consumer’s preference, their exact equipment needs, & revenue prospect. Renting/leasing of heavy construction equipment depends on aspects like the duration of usage of the asset, development in technologies during the period of time it is to be used, & tax aids involved in leasing/renting of equipment. Owing to such dynamics, contractors find it cheaper to rent rather than purchase, unless the equipment can be used for more than 75 percent of the year. By leasing, servicers are also able to contact more & dissimilar types of equipment while using the top technology available. Thus, this helps as a chance for companies in the heavy construction equipment market to use the equipment without having to bear the buying prices. Competitive Landscape: The objective of the report is to present a comprehensive analysis of the Global Heavy Construction Type Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Heavy Construction Type Market dynamics, structure by analyzing the market segments and project the Global Heavy Construction Type Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Application portfolio, growth strategies, and regional presence in the Global Heavy Construction Type Market make the report investor’s guide.
Global Heavy Construction Type Market, By Type
• Earth moving equipment • Material handling Equipment • Heavy construction vehicles • Others
Global Heavy Construction Type Market, By Application
• Excavation & demolition • Heavy lifting • Material Handling • Tunneling • Transportation • Recycling & waste management
Global Heavy Construction Type Market, By End-User
• Construction & manufacturing • Oil & gas • Public works & rail road • Infrastructure • Mining • Forestry & agriculture • Others
Global Heavy Construction Type Market, by Region
• North America • Europe • Asia-Pacific • MEA & Africa • Latin America
Global Heavy Construction Type Market Key Players
• Caterpillar Inc. • Liebherr AG • Volvo Construction Equipment • Komatsu • Hitachi Construction Machinery Co. Ltd. • Terex Corporation • Doosan Infracore Ltd • JCB Ltd. • Sany Heavy Equipment International Holdings Co. Ltd • CNH Industrial N.V
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Name: Vikas Godage
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