HEAVY CONSTRUCTION MARKET TO REACH $191 BILLION

Globally, the heavy construction equipment market is worth $116 bn. However, this figure is expected to grow by just over 7% to $191 bn by 2022. The primary driver of this growth is an increased level of construction activity around the globe.

THE HEAVY CONSTRUCTION EQUIPMENT MARKET

Market analysts suggest that a reduction in labour costs and time are assisting heavy construction market growth. The rise in infrastructural activity and continuing economic development is also playing a significant role in the expansion of the market.

Earthmoving equipment is the largest growing market segment. Main users of heavy construction equipment are mostly oil and gas companies, mining industries, manufacturing and military.

Current major markets include the US and Canada. Developing markets are in Asia-Pacific. Here, numerous opportunities are emerging for major users of construction equipment.

WHO ARE THE KEY PLAYERS IN THE HEAVY CONSTRUCTION MARKET?

The main manufacturers of machinery in the global market are Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, Liebherr-International and Volvo Construction Equipment.

WHAT TYPES OF HEAVY CONSTRUCTION EQUIPMENT IS COVERED?

These companies are producing the following equipment:

resolute equipment hitachi euclid r60c truck

This machinery is suited to tunnelling, recycling and waste management, material handling, heavy lifting and demolition, along with excavation projects. The end users of the machinery are oil and gas companies, as well as mining, state and federal government, infrastructure builders, forestry groups and construction and engineering businesses.

Overall, the expansion of the heavy construction market is expected to add to the economic growth and development of many nations. Asian-Pacific regions projected to benefit include Australia, New Zealand, Japan, China and India.

MAKE US YOUR CONSTRUCTION EQUIPMENT GO-TO

Are you looking to reduce your construction equipment costs? Then contact Resolute Equipment on 1300 308 840. We have heavy construction equipment for sale. Resolute Equipment also stocks hard-to-find mining and construction equipment parts. We are a national supplier of Caterpillar, Komatsu, Esco, Liebherr, and Hitachi, to name just a few.