Asia-Pacific Heavy Construction Equipment Market Research Report - Forecast to 2030

Asia-Pacific Heavy Construction Equipment Market Research Report, By Types (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Others (Cranes, Excavator, Dozer)), By applications (Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, Others), end-users (Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry and Others) - Forecast to 2030

ID: MRFR/IA - E/0211-HCR | 200 Pages | Author: Varsha More | October 2023         

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Asia-Pacific Heavy Construction Equipment Market

Asia-Pacific Heavy Construction Equipment market size is expected to expand globally at a CAGR of 8.45%. For the ongoing forecast period of 2022-2030, the global market is expected to reach a final market value of USD 96.67 billion by the end of the period in 2030

Segmentation
By Types Earthmoving Equipment Material Handling Equipment Heavy Construction Vehicles Others
By applications Mining & Excavation Earthmoving Transportation Lifting Material Handling Others
By end-users Oil & Gas Industry Construction Industry Military Mining Agriculture & Forestry Others
Key Players
Companies Profiled   Volvo Construction Equipment   Caterpillar Inc.    J.C. Bamford Excavators Limited (JCB)    Hitachi Construction Machinery Co. Ltd.    Komatsu Ltd.    Doosan Heavy Industries & Construction    Liebherr group    CNH Industrial    Kobe Steel Ltd. (Kobelco)    Atlas Copco.
Drivers
Market Driving Forces   Government initiatives for various services like education    healthcare    public transport    infrastructure and other facilities    Increase in Demand of construction equipment    Development of infrastructure
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Asia-pacific Heavy Construction Equipment Market Overview


The Asia-Pacific Heavy Construction Equipment market size is expected to expand globally at a CAGR of 8.45%. During the historic forecast period in 2019, the global market was valued at a final figure of USD 77.7 billion. For the ongoing forecast period of 2022-2030, the global market is expected to reach a final market value of USD 96.67 billion by the end of the period in 2030.


Asia-Pacific Heavy Construction Equipment can be understood as a specialized method of construction based on industrially prefabricated construction systems. It is a viable option as it is a quick, safe, and quality construction assembly, which does not require any additional time for drying. There has been a vast and reliable rise in the demand for Asia-Pacific Heavy Construction Equipment due to urbanization and industrial growth, across the world, during the historic forecast period in 2019. As a result, Asia-Pacific Heavy Construction Equipment is being widely adopted in the construction of offices, homes, and other structures.


COVID 19 Analysis


The Asia-Pacific Heavy Construction Equipment market has been deeply impacted and has witnessed a negative impact on the product demand in recent months owing to the lockdowns imposed in the majority of the countries due to the outbreak of the novel COVID-19 in December 2019, followed by the rising cases in the international scale in 2020. Several market countries, including the prominent ones like Italy, the U.S., and India, as a part of the market, have witnessed curfew-like situations where businesses except for the essential services with minimal workforce were not allowed to carry out their operations.


In addition, most of the construction projects were temporarily shut down by the restrictions imposed in recent months to prevent the spread of COVID-19. The factors mentioned above have significantly impacted the demand for Asia-Pacific Heavy Construction Equipments in the last few months. As a result, the Asia-Pacific Heavy Construction Equipment Market producers and manufacturers and the overall construction industry are expected to face several challenges as most of the construction projects are likely to be left incomplete, at a halt, or be delayed because of the supply chain disruptions, cash flow constraints, unavailability of the workforce, and production shutdown introduced by the pandemic.


Asia-Pacific Heavy Construction Equipment Market Dynamics



  • Drivers


There has been a significant demand for infrastructure in hospitals and other medical facility centers like laboratories, shipping, logistics, and others like the healthcare centers, clinics, and others due to the pandemic's outbreak. In addition, some of the market countries are moderately functioning after the arrival of the pandemic. Hence, this is likely to create a demand for the global Asia-Pacific Heavy Construction Equipment market products and equipment. In addition, there has been a rapid infrastructural development coupled with the availability of business capital investments in emerging economies, including China and India of the APAC region, which has propelled the demand for the Asia-Pacific Heavy Construction Equipments.



  • Restraints


The sudden arrival of the pandemic has been witnessed to significantly impact the infrastructure and construction sector, which is one of the significant demandants of the global Asia-Pacific Heavy Construction Equipment market for the ongoing forecast period. However, a wide range of restraints and challenges are present in the development and expansion of the Asia-Pacific Heavy Construction Equipment industry.



  • Technology Analysis


There has been a recognized degree of use of the technological developments and advancements resulting from the rise in investments and funding and owing to their vast employment in infrastructure projects and mega construction systems. As a result, the market for Asia-Pacific Heavy Construction Equipment has witnessed moderate growth in the past couple of years, part of the historic forecast period in 2019. The demand for Asia-Pacific Heavy Construction Equipment is further expected to be driven by the growing construction industry and the adoption of lightweight construction materials. The base year considered for the market study is 2020, and the forecast period for the global Asia-Pacific Heavy Construction Equipment market is 2022 to 2030.


Asia-Pacific Heavy Construction Equipment Market Segmentation


The Asia-Pacific Heavy Construction Equipment market has been segmented because of the rising needs of the global target audience, followed by the efforts that the global market players have employed. Therefore, the global market segments are mentioned as follows:


Based on the Demand


In the APAC construction equipment market, the rising demand for new machinery has been witnessed due to a rental provider requiring further supplies to the end-users at lower prices. Owing to the high initial investments in buying new machinery, customers are increasingly opting for rental machinery, driving new machinery sales in the Asia Pacific construction equipment market.


Based on the Product


Increasing adoption of earthmoving machinery, such as excavators and loaders, in the traditional building applications owing to advantages over manual labor, is fueling the APAC construction equipment market. This machinery provides several benefits such as quality improvement, increased project efficiency, and cost savings. By utilizing modern machinery, end-users are experiencing an increase in profitability as they provide high productivity over laborers, increasing demand in the Asia Pacific construction equipment market. Moreover, building sites with several high-risk operations are implementing these machinery to strengthen the safety parameters and reduce the time required in conventional operations. As a result, contractors using the machinery have better safety & accident track records, which improve the profitability as the companies eliminate labor accident compensation, further attributing to the rise of industry size.


Based on the sales channel:


In the Asia Pacific construction equipment market, direct sales channels for equipment & replacement parts are steadily growing among the larger countries, including China, Japan, and India, due to leading manufacturers' establishment of direct sales facilities. On the other hand, the global players are emerging in the smaller ASEAN countries through their distributors and direct sales channels to cover a larger market share.


Based on Region:



  • North America

  • Europe

  • Asia-Pacific

  • Rest of the World (RoW)


Asia-Pacific Heavy Construction Equipment market Regional Analysis


The global Asia-Pacific Heavy Construction Equipment market has been segmented region-wise and functions in 5 prominent regions in the global market premises. Out of these 5 propelling regions in the international Asia-Pacific Heavy Construction Equipment industry, Asia-Pacific held the largest share of the global Asia-Pacific Heavy Construction Equipment market during the historic forecast period in 2019, followed by North America.


The growth of the Asia-Pacific Heavy Construction Equipment industry with the growth of population and the rising per capita disposal income is anticipated to drive the Asia-Pacific Heavy Construction Equipment market in this region during the forecast period. In addition, Asia Pacific countries exhibit the fastest economic growth rates worldwide. Therefore, the Asia-Pacific region is expected to be a significant market propelling the global construction industry, with augmented construction activities in China, India, and ASEAN countries.


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


Asia-Pacific Heavy Construction Equipment Market Competitive Landscape


The most prominent major key players in the Asia-Pacific Heavy Construction Equipment market all across the globe are mentioned below:



  • Caterpillar, Inc.

  • Tadano Ltd.

  • Doosan Group

  • Terex Corporation

  • Hitachi Construction Machinery

  • Sany Group

  • J.C. Bamford Excavators Limited

  • Liebherr

  • Komatsu Ltd.

  • John Deere

  • Kobelco Construction Machinery


Recent Developments


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 Equipment announced that it would start producing compact electric excavators and wheel loaders in an official statement. EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be produced from mid-2020.


Asia-Pacific Heavy Construction Equipment Market Report Overview

This global Asia-Pacific Heavy Construction Equipment market research report consists of various market components. The Asia-Pacific Heavy Construction Equipment market research report discusses the market factors that either positively impact market growth or might give rise to challenges that might hamper the market as per the growth predictions for the period ending in 2030. In addition, the report helps in studying the impact of the pandemic outbreak and hence, the performance of the market segments that enhance the revenue quantum for the market from 2022 to 2030.



Report Scope:

Report Attribute/Metric Details
  Market Size 2019: USD 77.7 Billion 2030 : 96.67 billion
  CAGR   8.45% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Types , Applications and End-users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Volvo Construction Equipment, Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Doosan Heavy Industries & Construction, Liebherr group, CNH Industrial, Kobe Steel, Ltd. (Kobelco), and Atlas Copco.
  Key Market Opportunities   Government initiatives for various services like education, healthcare, public transport, infrastructure and other facilities
  Key Market Drivers Increase in Demand of construction equipment Development of infrastructure


Frequently Asked Questions (FAQ) :

The Asia-Pacific heavy construction equipment market is anticipated to mark 8.45% CAGR.

The prominent players of the Asia-Pacific heavy construction equipment market are Volvo Construction Equipment, Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Doosan Heavy Industries & Construction, Liebherr group, CNH Industrial, Kobe Steel, Ltd. (Kobelco), and Atlas Copco.

The type-based segments of the Asia-Pacific heavy construction equipment market are earthmoving equipment, heavy construction vehicles, material handling equipment, and others.

The segments based on application are mining & excavation, material handling, transportation, earthmoving, lifting, and others.

The end-user segments of the Asia-Pacific heavy construction equipment market are mining, agriculture & forestry, construction industry, oil & gas industry, military, and others.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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