Heavy Construction Equipment of North America Market – Overview
The innovation of heavy Construction equipment has assured a promising fortune for construction industry. Since last decade, the construction firms have grown enormously after heavy construction equipment coming into the reality. The actual motive behind this innovation was dipping the labor cost and time. The heavy construction equipment are majorly utilized in the processes of transportation, lifting earthmoving, material handling and others
According to a recent study report published by the Market Research Future, the North America’s Heavy Construction Equipment Market is estimated for a striking growth by 2027, in terms of value, with a staggering rate of a CAGR; witnessing a glorious growth surpassing its previous growth records by the end of the forecasted period (2016 – 2027).
Infrastructure development in North America is proving to be the major market propelling factor for Heavy Construction Equipment export growth and sustained demand in the global market. Building new infrastructure and maintaining existing infrastructure require large amounts of construction machinery to accomplish. Similar to infrastructure development and maintenance, residential and commercial construction activities require large amounts of Heavy construction machinery. Manufacturing, buying, or selling heavy construction equipment is a driver for the construction of commercial property. Consumers engaging in these activities are, in turn, potential buyers of new homes/residential construction. In addition, economic activity requires adequate infrastructure to move goods and services from producer to seller to buyer. However, environmental concern poses a major threat to the Heavy construction equipment Market, as these machineries run on diesel, which releases harmful carbon emissions, states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 200 pages.
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Heavy Construction Equipment of North America Market – Key Players
Through recent developments, MRFR Analysis identifies the key strategies adopted by the key players operating in the North American Heavy equipment market such as Product Launch, Collaboration, Acquisition and expansion.
For example; recently the news headline that was making rounds in the news world was about one of the Major Players of the Market – Caterpillar. Heavy Construction Equipment Market pushed up through the roof By Caterpillar’s New Cost-Saving and Extra-Safe Wheel Loader Models. These commercialized medium wheel loaders, such as 950M, 966M, and 982M, launched by Caterpillar Inc. reduces operating costs and includes advanced technologies and safety features. Additionally, prominent players, like 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.
Profiled in MRFR Analysis some of the prominent players present in the North America: Heavy Construction Equipment Market include Caterpillar, CNH Global NV, Doosan Infracore Ltd, JCB, Hyundai Heavy Industries Ltd, Hitachi Construction Machinery Co. Ltd (HCM), Kobelco Construction Machinery Co. Ltd, Komatsu Ltd, Manitou Group, Sany Heavy Industries Co. Ltd, Sumitomo Heavy Industries Ltd, Volvo Construction, Terex Corporation, Xuzhou Construction Machinery Group and among Others.
Heavy Construction Equipment of North America Market – Segments
North America: Heavy Construction EquipmentMarket can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation on the basis of Types: Comprises Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Cranes, Excavator, Dozer and others.
Segmentation on the basis of Applications: Comprises Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, and others.
Segmentation on the basis of End Users: Comprises oil & gas industry, construction industry, military, mining, agriculture & forestry, and others.
Heavy Construction Equipment of North America Market – Synopsis
North America is well known as a developed economy in terms of construction industry and is being considered as the second major market in construction industry. Being a developed economy with high disposable income, North America has become a developed market for construction industry and generated notable revenue of multibillions US dollars.
“Sales of Heavy construction equipment last year were affected by weak economic growth worldwide and low global prices for many commodities,” says the MRFR Research Analyst. “These factors had affected the demand for Heavy construction equipment, particularly in mining and other extractive industries. However, with the augmented commodity prices in 2016, sales has picked up in a several major markets.”
Construction machinery manufacturers and producers of related parts and equipment have provided a historically steady and reliable source of exports for the United States.
Heavy Construction Equipment of North America Market – Regional Analysis
The US has pushed to be a growing market because of the enormous investment in the real estate sector. Since last ten years, there has been a massive demand arising from residential as well as commercial segment. Focusing the commercial purpose, the US government has taken up to increase the construction of airports dams, bridges, roads which has turn out to be a key revenue generation for the construction industries.
Followed by the US, Canada is known to be the developed market for heavy construction equipment. As the country’s market situation is very sound and huge investment has taken place since decade.
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