Construction equipment is used for various tasks on construction sites, such as drilling, towing, excavation, sorting, surface paving, etc. The global heavy equipment market is growing not only due to the huge number of construction firms, but also due to the oil and gas industry, forestry, utilities, mining and even the military industry. By 2020, according to forecasts of some experts, the volume of sales in the global construction equipment market will grow by 8.9%.
Key players in the global heavy equipment market are Caterpillar Inc., Liebherr Group, Kobe Steel Ltd. (Kobelco), CNH Industrial, Hitachi Construction Machinery, Volvo Construction Equipment and Komatsu Ltd. Most of these corporations are well known to domestic consumers, including a number of companies with official dealers in Russia. For example, the Zeppelin Rusland company is the official dealer of Caterpillar in our country. It sells Cat asphalt pavers, Cat bulldozers, Cat front loaders for road construction and many other options for this brand of construction equipment. By the way, the loader segment in the global construction equipment market is expected to grow and generate 44% more profit for manufacturers by 2020. Sales of equipment used in earthmoving operations will grow by an average of 9.5%. Demand for cranes and equipment for the transport of construction materials is expected to grow.
In general, in the period up to 2020, the growth factors of the construction equipment market will be the developing industry, the fast pace of housing and commercial construction, and state investments in the construction of infrastructure facilities..
Most of the equipment in the coming years will be involved in earthworks, lifting and material handling operations. The largest market share belongs to and is expected to continue to belong to equipment for earthworks, in particular earthmoving works.
Geographically, the most active region in the construction equipment market is the Asia-Pacific region. And it will increase its demand for heavy equipment, which is predicted due to serious plans for the construction of real estate and infrastructure in the countries of this region..
