According to a new market report published by Acute Market Reports Inc “Earthmoving Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the global earthmoving equipment market expected to witness significant growth throughout the forecast period with a resurgence in the global construction industry. The global market for earthmoving equipment was valued at US$ 81.5 Bn in 2017 and expected to cross US$ 145 Bn by 2026 at a CAGR of 7.0% from 2018 to 2026.
Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/earthmoving-equipment-market
The effect of the financial crisis is reduced considerably and the global economy is building momentum with improving credit conditions which is encouraging countries across the world to invest a significant amount in infrastructure development projects to support their economic development. In addition, increasing urbanization and rising population in major cities will increase residential constructions globally. Leading earthmoving equipment manufacturers are focusing on the development of advanced solutions to improve the efficiency and productivity of earthmoving equipment. End-users of earthmoving equipment are replacing their outdated machinery and equipment with advanced multifunctional solutions as they offer better productivity and efficiency. All these factors represent a positive outlook for the earthmoving equipment market throughout the forecast period from 2018 to 2026.
In 2017, Asia Pacific accounted for the largest market share in the global earthmoving equipment market. The region is expected to maintain its dominating position and also expected to be the fastest-growing market for earthmoving equipment over the forecast period. This growth is primarily driven by the increasing investment by India and Southeast Asia in the road, urban infrastructure, railways and ports, and irrigation projects to support their economic growth. In addition, the output of the construction industry in China increased by 5% in 2016 compared to 2015, as the government invested a significant amount in infrastructure development and relaxed construction regulation and credit policies. The construction industry in the U.S. is recovering rapidly from the sharp economic slowdown during financial crises.
Wheeled/crawler loader is the largest equipment category in the overall earthmoving equipment market by type. The segment is expected to maintain its dominating position with its increasing deployment in the Asia Pacific and Middle East & Africa (MEA). In addition, end-users in developed markets are replacing their traditional loaders with advanced loaders integrated with real-time monitoring solutions for better efficiency and output. The backhoe loader is predicted to be the fastest-growing segment in the overall earthmoving equipment market by type. As backhoe loader is a highly versatile machine and capable of performing multiple jobs including loading, digging, excavating, demolitions, breaking asphalt, transporting materials, laying roads and leveling, they are replacing excavators and bulldozers in construction, mining and agricultural applications.
List of Companies Covered:
Market Segmentation:
By Equipment Type
By Application Type
By Geography Segment Type
Key questions answered in this report
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