Research and Markets: The Global Construction Equipment Market Expected to Reach $240.97 Billion by 2020, Registering a CAGR of 8.9% during 2015-2020
June 17, 2015 | By Business Wire News
DUBLIN
Research and Markets (http://www.researchandmarkets.com/research/mqr7pl/global) has announced the addition of the “Global Construction Equipment Market – Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2014 – 2020” report to their offering.
Among the different types of construction equipment, loader and cranes would continue to remain the most preferred type, due to their numerous applications in construction, mining and public works. Loader segment would drive the market significantly by 2020, contributing more than 44% of the total market revenue, due to increased application in earth moving operations.
The construction equipment find maximum usage in earth moving and lifting & material handling applications. The two applications collectively accounted for around 50% of the total market in 2014. Between the two, earth moving application would grow at a faster rate during the forecast period, due to the upsurge in construction for commercial and residential infrastructure setup. Market is further segmented into solution type, comprising of product and services.
Key findings of the study:
– Lifting & material handling application would grow at a relatively faster CAGR of 12.4% during 2015-2020, in comparison to all the other applications
– Excavation & mining application involving the use of construction equipment would grow notably at a CAGR of 9.5% during 2015-2020
– The market in Asia Pacific region is expected to grow at a CAGR of 10.2% during 2015-2020
Companies Mentioned:
– Atlas Copco
– CNH Industrial
– Caterpillar Inc.
– Doosan Heavy Industries & Construction
– Hitachi Construction Machinery Co.
– J.C. Bamford Excavators Limited (JCB)
– Kobe Steel Ltd. (Kobelco)
– Komatsu Ltd.
– Liebherr Group
– Volvo Construction Equipment
For more information visit http://www.researchandmarkets.com/research/mqr7pl/global
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