Cover Image
Market Research Report

Asia-Pacific Construction Equipment Market - Growth, Trends, and Forecast (2020 - 2025)

Published by Mordor Intelligence LLP Product code 938151
Published Content info 65 Pages
Delivery time: 2-3 business days
Price
Back to Top
Asia-Pacific Construction Equipment Market - Growth, Trends, and Forecast (2020 - 2025)
Published: May 1, 2020 Content info: 65 Pages
Description

The Asia-Pacific construction equipment market is expected to exhibit a growth rate of over 9% during the forecast period 2020-2025.

  • To fight major problems like traffic congestion, population explosion, high manufacturing costs and ageing transportation infrastructure, developing economies are now investing heavily in infrastructure development. These factors are boosting the sales of construction machinery market across the Asia-Pacific geography.
  • The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressurizing construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones.
  • The overall situation of the crane market has shown signs of development, owing to the growth in the number of mega construction projects in the Asia-Pacific region. China's One Belt One Road initiative is a highly ambitious project that serves the purpose of constructing a unified market with geographies around World through road, rail and sea routes.

Key Market Trends

Electrification of Construction Equipment

Increase in construction activities across the globe has resulted in increased consumption of diesel. Although diesel has high energy content compared to gasoline but its combustion releases dangerous exhausts into the environment. Governments and pollution regulatory bodies across Europe has established norms and regulations that requires diesel engines to produce almost negligible NOx and SOx emissions. This has opened the doors for OEMs to switch to hybrid and complete electric vehicles in the future. Electric construction equipment are not only zero emission machines but also produces very less heat, noise and vibrations.

Electric construction equipment use fewer parts compared to diesel equipment and use of electricity brings down the total cost of operations both for rental company and customer.

Many key construction equipment manufacturers across the globe have launched their electric construction equipment.

  • On March 11, 2019, XCMG showcased XE35U-E, world's first all electric excavator in Las Vegas. The excavator has an operational time of nearly 12 hours between 2 subsequent charges.

Rise of Construction Industry in China

Asia-Pacific countries exhibits the fastest economic growth rates in the entire world. The Asia-Pacific region is expected to be a major market propelling the global construction industry, with augment construction activities in countries, such as China, India and ASEAN countries.

Ongoing mega projects in China needs a lot of machinery and materials to be displaced from one part of the country to the other. Projects like Tianhuangping hydroelectric project, South North water transfer project, Belt and Road Initiative and Beijing airport are some of the many projects that will deploy many construction equipment. China recorded an average monthly growth of 5.3% in fixed asset infrastruture development in 2019. China also recorded a 25% increase in excavator sales in 2019, indicating growth in construction activities. In 2018, market value of consstruction industry in China was valued at nearly USD 900 billion which is expected to grow more than 1.1 trillion by 2021.

Competitive Landscape

The Asia-Pacific Construction Equipment Market is consolidated with players such as XCMG, LGMG, Sany, Zoomlion etc. dominating the market.

  • In October 2018, Hitachi Construction Machinery launched its ICT operated semi-autonomous ZX210X-6 excavator that can complete the task nearly 50% quicker than other standard excavators.
  • In 2019, Volvo Construction Eqipment announced in a official statement that it will start producing compact electric excavators and wheel loaders. EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be in production from mid 2020.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Table of Contents
Product Code: 69704

Table of Contents

1 INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 Machinery Type
    • 5.1.1 Cranes
    • 5.1.2 Telescopic Handling
    • 5.1.3 Excavator
    • 5.1.4 Loaders And Backhoe
    • 5.1.5 Motor Grader
    • 5.1.6 Others
  • 5.2 Drive Type
    • 5.2.1 IC Engine
    • 5.2.2 Electric And Hybrid
  • 5.3 By Country
    • 5.3.1 China
    • 5.3.2 India
    • 5.3.3 Japan
    • 5.3.4 South Korea
    • 5.3.5 Rest of Asia-Pacific

6 COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 XCMG Group
    • 6.2.2 Sany Group
    • 6.2.3 Lingong Machinery Group
    • 6.2.4 Hitachi Construction Equipments Co. Ltd
    • 6.2.5 Komatsu Limited
    • 6.2.6 Kobelco Construction Machinery
    • 6.2.7 Hyundai Heavy Industries
    • 6.2.8 Doosan Group
    • 6.2.9 Zoomlion Heavy Industry Science And Technology Co., Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Back to Top