Among the different types f construction equipment, loader and cranes would continue to remain the most preferred type, due to their numerous applications in construction, mining and public works. Loader segment would drive the market significantly by 2020, contributing more than 44% of the total market revenue, due to increased application in earth moving operations. Crane market is growing at a steady rate owing to the growing demand for lifting and material handling from different industries.
To request more information about the report, visit the website at HTTPS:// www. Ultraconservatives. Mom/construction-equipment-market From industries' perspective, public works and rail road sector would significantly drive the market due to the increasing number of infrastructural projects worldwide. Other prominent end-user industries include oil & gas, mining and manufacturing.
The construction equipment find maximum usage in earth moving and lifting & material handling applications. The two applications collectively accounted for around 50% of the total market in 2014. Between the two, earth moving application would grow at a faster rate during the forecast period, due to the upsurge in construction for commercial ND residential infrastructure setup. Market is further segmented into solution type, comprising of product and services.
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The market shares of products and services would hover in the ratio of 80:20 throughout the analysis period. Asia-Pacific region would dominate the global construction equipment market throughout the analysis period due to the increased industrial and residential construction activities in this region, whereas North American market is expected to witness moderate growth. Key findings of the study Lifting & material handling application would grow at a relatively faster CARR of 2. % during 2015-2020, in comparison to all the other applications Public work activities would continue to drive the global construction equipment market over the analysis period Excavation & mining application involving the use of construction equipment would grow notably at a CARR of 9. 5% during 2015-2020 The market in Asia Pacific region is expected to grow at a CARR of 10. 2% during 2015-2020 The market growth is attributed to innovation in construction equipment products along with the rising demand from public works, mining, manufacturing and oil and gas industries.
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