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Heavy Construction Equipment Market Boosted By Caterpillar’s New Cost-Saving And Extra-Safe Wheel Loader Models - MarketIntelReports
03/25/2017 | 04:31pm CET
Wilmington, Delaware, United States, March 25, 2017 (GLOBE NEWSWIRE) -- The report “Heavy Construction Equipment Market by Machinery Type (Earthmoving Equipment, Material-Handling Equipment), Application (Excavation & Demolition, Heavy Lifting, Material Handling) and by End User Industry (Construction, Oil & Gas, Mining, Forestry) - Global Opportunity Analysis and Industry Forecast 2022”, available on MarketIntelReports, estimates that Asia-Pacific will be a key future growth driver.
Browse numerous Market Tables as well as Figures which are spread through 140 Pages and an in-depth TOC on the “Heavy Construction Equipment Market Forecast 2022”
Scope & Regional Forecast of the Heavy Construction Equipment Market
Heavy construction equipment comprise heavy duty vehicles, which are specifically designed for use in various construction operations such as drilling, hauling, excavating, paving, and grading. The players in the global heavy construction equipment market serves several industries including manufacturing, oil & gas, forestry, mining, construction, and infrastructure.
The global heavy construction equipment market has steadily recovered from the recent slowdown of 2008-2009. However, the demand for heavy construction equipment has increased across the world, especially in emerging markets due to rapid urbanization and increasing investment in construction industry. In addition, prominent players, such as Caterpillar Inc., Volvo AB, and others have developed earthmoving machines that offer fuel savings and higher efficiency due to use of improved engines and control systems. The newly commercialized medium wheel loaders, such as 950M, 966M, and 982M, launched by Caterpillar Inc. reduces operating costs and includes advanced technologies and safety features. Moreover, growing public-private partnerships for construction of public infrastructure systems in countries, such as India and China, are expected to boost the market. However, environmental concern poses a major threat to the construction equipment industry, as these machineries run on diesel, which releases harmful carbon emissions.
Heavy construction equipment are used in numerous industry verticals such as infrastructure, construction, mining, oil & gas, manufacturing, and others. Among industries, infrastructure sector is expected to witness the highest growth during the forecast period due to increased renting & leasing of heavy construction equipment in both, developed and developing nations.
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