Posted By:Infra Bazaar
Construction Equipment also referred as heavy equipment are specially designed to perform construction operations based on type, solution, industry, application and geography. These equipments are used for various functions according to the requirement like Hauling, Drilling, Excavating, Grading and Paving which covers various industries like Oil and Gas, Manufacturing, Forestry, Public Works, Military and many more.
SCOPE & OPERATIONS
The global construction equipment market is expected to grow and forecast by 2015- 2020 period. Industrial activities are extremely growing with commercial & residential development through which the government has increased investment in infrastructure sector, which in turn is leading to an overall rise of global construction equipment market demand.
Presently Asia is the largest market under demand for construction equipment and we can expect it to grow at its peak in the upcoming years. This growth would be primarily motivated by the on-going development projects and infrastructure sector.
The requirement of construction equipment is increasing in various operations such as Excavation, Earth Moving and Lifting & Material Handling. Therefore among all equipments, Earth moving equipment holds a top market share.
As per “Transparency Market Research” the construction equipment market global Forecast, Market share, Size, Growth and Industry Analysis 2011-2017 is expected to reach about $192.3 billion and CAGR would expect to grow around 6.0% in 2012-2017 period.