Heavy Construction Equipment Market To Grow 6.8% in Next 5 Years



The global heavy construction equipment market is expected to exhibit a growth potential of 6.8% over the next five years, according to research from Report Buyer.

Growth in the market is expected to be fueled by increases in infrastructural spending especially in developing economies, and increasing demand for residential buildings owing to growing populations.

The Asia-Pacific market will register highest growth by 2020 owing to the significant investments being made for construction activities in the region. The growth of this region is supplemented by the rising need for infrastructure in developing economies such as India and China.

The growing demand for technologically advanced solutions that provide better fuel efficiency and better material handling and safety features combined with lower emissions is expected to drive the market for heavy construction equipment globally. In addition to this, key factors such as robust economic development, increase in investment in construction industry and rapid urbanization are projected to support the growth in the heavy construction equipment market in the forthcoming years.

Excavation and demolition is projected to dominate the global heavy construction equipment market application between 2015 and 2020. By type, earthmoving equipment is estimated to have the largest market during the forecast period.

Access the full analysis from Report Buyer here.


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