Asia-Pacific Heavy Construction Equipment Market 2021: COVID-19 Impact Analysis
Posted by Komal Boudhh on January 22nd, 2021
Heavy Construction Equipment Asia Pacific Market – Overview
Heavy construction equipment has been proved as a backbone for construction industry in order to save a lot of time and labour cost. There are several equipment that serve various purpose at construction sites. Various activities including earthmoving, material handling, transporting materials, etc. are catered by heavy construction equipment. High investments of construction industry in BRIC countries are driving the growth for heavy construction equipment market. Additionally, the need of satisfying rising infrastructure demand by growing population will enhance the growth prospects of Heavy Construction Equipment Market. The lucrative and high investment areas of construction industry in emerging economies and organization of upcoming world sports such as FIFA World Cup and Olympics will boost the demand for heavy construction machinery. The global heavy construction equipment industry growth is directly related to the worldwide infrastructural development activities. Addition of new technologies to the existing systems has been an ongoing trend within the market. Adoption of these equipment has been increasing over the time. High cost of heavy construction equipment is one of the major factors supporting retrofitted equipment. Some of the major players operating within heavy construction equipment market arena include Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Doosan Heavy Industries & Construction, Komatsu Ltd.,, and others.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the Asia Pacific Heavy Construction Equipment market are that of new product development.
On May 2017, Volvo CE has unveiled electric compact excavator prototype that delivers zero emission 10 times higher efficiency, 10 times lower noise levels and reduced total cost of ownership.
On September 2016, Hitachi Construction Machinery Develops Object Detect Assist Technology for Mining Dump Trucks that will detect the obstacle when operator are driving, stopping, or starting mining dump trucks.
In 2017, Aregger AG has partnered with Liebherr Machines Bulle S.A (Switzerland) for providing customised demolition excavator. This will widen their product portfolio.
In December, 2016 – JCB India launched seven new products at Bauma ConExpo. With the launch of these products, the company positioned itself as a full range infrastructure equipment partner. Moreover, the growing construction industry has been the major reason behind this product launch. The growing construction industry has resulted in growth of heavy construction equipment market.
Heavy Construction Equipment Market – Segmentation
The Asia Pacific Heavy Construction Equipment market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology: Comprises Blanking, Embossing, Flanging, Bending, Coining and Others)
Segmentation by Application: Comprises Passenger Cars, Commercial Vehicles, Recreational Vehicles and Others
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and
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Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Doosan Heavy Industries & Construction, Komatsu Ltd., Liebherr group, Kobe Steel, Ltd. (Kobelco), CNH Industrial, Atlas Copco and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Asia Pacific heavy construction equipment market.
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About the AuthorKomal Boudhh
Joined: July 17th, 2020
Articles Posted: 121
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