Earthmoving Equipment Market 2022
The global earth moving equipment market is predicted to grow at a 6.7% CAGR in terms of volume between 2017 and 2025, according to Persistence Market Research’s study, “Earth Moving Equipment Market: Global Industry Analysis and Forecast, 2017-2025.” Additionally, the industry is anticipated to generate an extra US$ 87.65 billion in potential over 2025 to reach US$ 207.6 billion in revenue.
The study objectives of Earthmoving Equipment Market report are continuously involved in the research of the profile of key players that are established in recent times to keep the record updated. To keep the growth rate very smooth and stable, the research team carefully go through the manufacturing company’s strategy & planning of development and then analyze them for growth opportunity.
The professional study and research Earthmoving Equipment Market report consider the growth that is estimated according to the market size every year.
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Robust industrialization in several parts of the world continues to present lucrative opportunities for earth moving equipment manufacturers. Incidentally, some of the latest earth moving equipment come with state-of-the-art designs and customizations such as pedal to joysticks, suspension seats and air conditioned cabin. Despite the addition of such cutting-edge features, earth moving equipment remain quite affordable. According to a Persistence Market Report (PMR) report, the global earth moving equipment market is expected to grow 1.6x in term of volume by 2025.
Increasing urbanization and construction & mining activities are amongst some of the primary factors fueling the demand for earth moving equipment in recent years. On the flipside, enforcement of stricter laws to check rising emission levels is limiting extensive use of such equipment. Moreover, most of the equipment used in mining, construction, farming, forestry, and other industries have a complex operating system and require extreme care in handling.
Key Companies-
- Caterpillar Inc.
- Komatsu Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Terex Corporation
- Volvo Construction Equipment
- Liebherr Group
- Deere & Company
- Xuzhou Construction Machinery Group Co. Ltd.
- Sany Heavy Industry Co Ltd.
- Doosan Corporation
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Countries such as Turkey, India, Canada, and the UK present a high demand for equipment such as mini excavators, crawler, wheeled, and compact loaders. This, in turn, compels manufacturers to design earth moving equipment that are more requirement-specific and can meet client expectation.
The report also observes that upcoming government infrastructural and construction projects in both developed and emerging countries are expected to create immense opportunities for earth moving equipment manufacturing companies. In addition, various PPP (Public Private Partnership) projects involving huge investments in commercial and residential constructions is expected to drive the growth of earth moving equipment market in the medium term. Public-private partnership guarantees better institutional legal framework for private investors while helping governments to progress rapidly in developing country’s public welfare infrastructures.
Additional Excerpts from the Report Include
- By product type (volume), demand for backhoe loaders is expected to remain strong in 2017 and beyond. This primarily due to their relatively smaller size, making them easy to use in medium, large and small scale construction projects. In terms of volume, backhoe loaders will witness a CAGR of 7.3% during the forecast period.
- Amongst regions, the market for earth moving equipment in APAC is expected to remain in a dominant position over the assessment period. By 2017-end, the region’s market is anticipated to account for more than 50% volume share of the global earth moving equipment. Emerging countries such as China and India are undergoing intensive construction activities, which is majorly supporting the growth of the market in the region.
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Major Highlights of Earthmoving Equipment Market Report:
- Earthmoving Equipment Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes Earthmoving Equipment Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
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