New York City, NY, April 18, 2017/24 Market Reports: Heavy construction equipment are specialized machinery that weigh more in metric tons and perform specific construction or demolition work. This equipment is transportable, semi-permanent, or permanent, and is primarily used for earthmoving, lifting containers or materials, drilling holes in the earth or rocks, and concreting & paving applications. They are mainly used for construction and mining activities to provide raw materials to the industry.
The segmentation considered for this report is based on the type, application, end-use industry, and region. The market has been segmented on the basis of industry into construction, oil & gas, mining, forestry, infrastructure, and manufacturing. The market has been further segmented on the basis of application into excavation & demolition, heavy lifting, material handling, recycling & waste management, and tunneling. .
Factors such as rapid urbanization, increasing investment in the construction industry & rising demand for infrastructural development from developing economies, increase in population and increase in level of spending of people around the globe are driving the growth of the heavy construction equipment market. Factors such as rigorous government regulations and social economic issues are expected to limit market growth. New merger & acquisitions, collaborations, and joint ventures are expected to take place in the coming years. Renting and leasing of heavy construction equipment is also expected to shape the future of the heavy construction equipment market.
The heavy construction equipment market, by type, includes earth moving equipment, material handling equipment, heavy construction vehicles, and others. These equipment are critical tools for mining and construction activities, to provide raw materials for the industry.
The heavy construction equipment market, by application, is segmented into excavation & demolition, heavy lifting, transportation, tunneling, and recycling & waste management. The excavation & demolition segment let the market, in terms of application, through 2021.
The end use segment covers different industries such as constructing & manufacturing, oil & gas, public works, rail, and road, mining, and others which include forestry & agriculture and military. The construction & manufacturing segment has the largest market share in the heavy construction equipment market.
Heavy construction equipment is extensively used in industries such as construction & manufacturing, oil & gas, mining, public works, and for rail road construction to carry out activities such as excavation & demolition, tunneling, and transportation, among others. The heavy construction equipment market is cyclic in nature and largely depends on the scenario of the construction industry of the particular region. Increasing government investments in infrastructure in developing nations and rise in construction & mining activities are expected to boost the demand for heavy construction equipment.
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