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(IT-NEWSWIRE.COM, March 01, 2017 ) According to Publisher, the Global Heavy Construction Equipment Market is valued at $116.48 billion in 2015 and is expected to grow at a CAGR of 7.34% to reach $191.34 billion by 2022. Growth in construction activity is one of the major factors fueling the market growth. Reduction in the cost of labor and time are favoring the market to grow. Economic development and rise in infrastructural activities has played a huge part in market expansion. On the other hand, huge capital costs are anticipated to hamper the market during the forecast period.
Earthmoving equipment is the highest growing segment in the market across the globe. Being the major users of heavy equipment, oil and gas, mining, manufacturing, military etc., are the major revenue generating industries to the construction sector. North America is the major market with US and Canada being the key forecasting areas in the region. The developing markets in Asia-Pacific are providing ample of opportunities for the players owing to the huge investments that are being made in the region. Agreements, contracts, joint ventures, and partnerships are observed as the successful strategies by the players in the market.
For more information at http://www.reportsweb.com/heavy-construction-equipment-global-market-outlook-2015-2022 .
Some of the key players in global Heavy Construction Equipment market are Caterpillar Inc.
CNH Global N.V., Deere & Company, Hyundai Heavy Industries Co. Ltd., Volvo Construction Equipment AB, Doosan Infracore Ltd., Hitachi Construction Machinery Co. Ltd., JCB Ltd., Komatsu Ltd., Liebherr-International AG, Sany Heavy Industries Co. Ltd, Terex Corporation and Xuzhou Construction Machinery Group Co. Ltd.
-Recycling & Waste Management
-Excavation & Demolition
End Users Covered:
-Oil & Gas
Equipment Types Covered
-Heavy Construction Vehicles
-Compactors & Road Rollers
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-Rest of Europe
-Rest of Asia Pacific
-Rest of the World
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