Heavy Construction Equipment Market Growth & Trends Analysis
The global heavy construction equipment market size was valued at USD 132.52 billion in 2018 and is anticipated to grow at a CAGR of 5.7% over the forecast period as per the new research published by UpGraph Research. Heavy construction is the construction of massive structures that require systematic due diligence in engineering and project management. This industry arrangement is typically organized around companies that work on major government programs that require specialized equipment and civil engineering capabilities. Such ventures are big with great motives. However, large buildings that are massive may not be considered heavy construction, since they use relatively common equipment and engineering approaches.
Popular types of heavy construction projects are as follows Building Structures, Ports, Dams, Bridges, Roads. Coastal Engineering, Water Ways, Transportation, Heavy Industry, Environmental Engineering, Geotechnical Engineering, Energy Infrastructure. Heavy construction equipment refers to heavy-duty vehicles, specifically built for the execution of construction projects, most often involving earthworks. Building equipment for construction and construction machinery used in construction projects. There are several types of equipment available in the market including earthmoving equipment, material handling equipment, construction vehicles, and others. Appropriate use of suitable equipment contributes to the economic, efficiency, safety, speed, and timely accomplishment of the project.
Heavy machinery is necessary for construction work of almost any size, from home construction to large-scale commercial and civil projects.
Earthmoving equipment includes different types of excavators that are used for digging, grading, and other related works, loaders that are used to crush and refine big rocks & soil, etc. The material handling equipment includes a variety of different cranes such as mobile cranes and tower cranes that are used to lift and movie heavy construction material from one place to another. The construction vehicles include dump trucks, concrete mixers used for different construction-related functions.
The global heavy construction equipment is experiencing satisfactory growth based on strong investment in urban redevelopment projects in both residential as well as commercial infrastructure. Increasing investments by the government in the road development projects in developing countries such as India, China, Indonesia has substantially increased demand for road construction machinery in the recent few years.
Due to the high demand for infrastructure and emerging technology, the market for heavy construction equipment is highly fragmented. Major corporations rely on regional and local distributors to grow their market share as well as their geographical reach. Agreements, contracts, joint ventures, and collaborations are some of the main trends observed in the heavy construction equipment industry.
construction projects. Also, renting companies have also set out to invest in new technology to meet the increasing demand for advanced construction machinery and replace older ones with new or improved machinery.
Competitive Analytics empowers heavy equipment companies such as NES Rentals (the largest heavy equipment rental company in North America) by incorporating business intelligence solutions, big data solutions, and advanced analytics to improve supply and demand management, optimize pricing, optimize operational performance, reduce costs and risk, and maximize income.
Read detailed analysis and download a FREE sample report here: Heavy Construction Equipment Market Size, Share & Trends Analysis Report 2020-2027
Heavy Construction Equipment Market Segmentation
- Heavy Construction Equipment Type Insights
- Earthmoving equipment
- Material Handling Equipment
- Heavy construction vehicles
- Others (Pavers/Asphalt Finishers/Compactors and Road Rollers)
- Heavy Construction Equipment Application Insights
- Excavation & demolition
- Heavy lifting
- Material Handling
- Recycling & waste management
- Heavy Construction Equipment End-Use Insights
- Construction & manufacturing
- Oil & gas
- Public works & railroad
- Forestry & agriculture
- Heavy Construction Equipment Regional Insights
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America