Pune, India, March 2, 2017 /MRFR Press Release/- Market research future published a half cooked research report on Global Earthmoving Equipment Market. The Earthmoving equipment market is expected to grow over the CAGR of around 7.5% during the period 2016 to 2022.
The earthmoving equipment market is expected to grow rapidly during the forecast period. The growth of this market can be attributed to factors such as increase in demand for better infrastructure resulting from the shift of population to the urban areas and the emergence of products with advanced features and low maintenance cost. The emergence of technology with capability of monitoring and detecting failure in real time is also expected to contribute to the growth of this market. Various government initiatives are taken up for the development of infrastructure and the increased government spending on infrastructure is expected to drive the demand in earthmoving equipment market. The growth of this market can be restrained by factors such as high investment costs and the high cost of R&D, involved in manufacturing of the new and advanced earthmoving equipment.
Market Research Analysis
Among all applications, the construction segment is expected to lead the earthmoving equipment market. The construction equipment is being extensively used for material handling, road constructions and concrete constructions which are helping in the growth of this market. Mining applications include all products for mining of surface and also underground mining such as crushing and mineral processing. The large scale construction projects taken up by companies are expected to contribute to the growth of this market.
Asia-Pacific region is expected to dominate the Earthmoving equipment market with highest CAGR owing to heavy investments in the construction of infrastructure such as building of roads, residential areas and ports in the region. In developing economies such as China, huge infrastructural investments are made in such as educational, healthcare and transportation projects, which are further expected to boost the earthmoving equipment market.
However the high cost of the equipment and the global economic uncertainty can hamper the growth of the market.
Scope of the Report
This study provides an overview of the Global earthmoving equipment Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Earthmoving equipment market by its product, application and region.
The key players of Earthmoving equipment market are Bobcat Company (U.S.), Atlas Copco(Nacka), Bharat Earth Movers Limited (India), Ingersoll Rand Inc. (Republic of Ireland), Case Construction Equipment (Netherlands), New Holland Construction (Italy), Track Marshall. (U.K.), Hitachi Construction Machinery Co., Ltd. (Japan), The Liebherr Group (Bulle) and Volvo Construction Equipment (Belgium) and others.
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