construction machinery manufacturing industry

The projects include the port extension, underwater tunnel connecting major European countries, railway tunnels, among others, which include the use of many types of cranes, thus driving the entire crane market. The US construction machinery manufacturing industry is highly concentrated: the top 50 companies generate about 90% of industry revenue. Approximately 40% of the total crane count in North America is working for the residential market. The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on the market growth. The renting or leasing of construction equipment has been on the rise, owing to the equipment cost and also the cost of the maintenance process. Products, Operations & Technology Major products are bulldozers, loaders, backhoes, power cranes, excavators, graders and rollers, crushers, mixers, pavers, concrete pumps, various types of off-road trucks and trailers, and a wide variety of specialized … To understand geography trends, Download Sample Report. Here are a few profiles related to Construction Machinery Manufacturing that you also might be interested in viewing: Would you or your company benefit from having unlimited access to First Research's industry intelligence tools? Discussion of key mergers and acquisitions in the market. Commercial & Industrial Equipment Rental & Leasing, Highway, Street & Bridge Construction Contractors. The construction machinery market is characterized by the presence of numerous international and regional players, resulting in a highly competitive market environment. BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. COMPETITIVE LANDSCAPE. An overview of the global market for construction machinery manufacturing. Report scope can be customized per your requirements. Because of the large capital investment required to produce heavy construction machinery, this segment of the market is served mainly by the large manufacturers. Europe is planning on various construction projects. The progress of South-North water transfer plant project in China, anticipated to complete by 2050, would deploy various construction machinery either by leasing or owning the machinery, thus growing the demand for construction machinery over next three decades. For short-term construction application, renting a machinery has been more preferable than a purchase among construction contractors, as renting allows optimum utilization of the machinery. The industry has been challenged by the appreciating US dollar and exchange-rate dynamics in recent years. The global market for residential building construction industry totaled $4,171.3 billion in 2017 and is estimated to reach $6,800.9 billion by 2022, growing at a compound annual growth rate (CAGR) of 10.3% for the period of 2017-2022. The global construction equipment manufacturing market should reach $230.9 billion by 2020 from $181.6 billion in 2016 at a compound annual growth rate (CAGR) of 6.2%, from 2016 to 2020. • Asia Pacific construction equipment manufacturing market is expected to grow from $92 billion in 2016 to $122.9 billion in 2020 at a CAGR of 7.5% for the period 2016-2020. © 2020. Mixed-use development is the second largest market, making up nearly 25% of all cranes in North America. Rental companies provide the machinery, along with the required professional machine operators and drivers, included in the rent. The global construction machinery manufacturing industry is forecast to grow more than 6% per year through 2023, according to Technavio. The US construction machinery manufacturing industry consists of about 750 establishments (single-location companies and units of multi-location companies) that have combined annual revenue of about $30 billion. A second firm, with revenues of $20 million, generates all of its business from this industry. Additionally, the renting companies have also geared up in investing in new technologies to cope with the growing demand for advanced construction machinery and replace the older ones with new or upgraded machinery fleet. Apart from the cost, there are also other benefits associated with renting the construction equipment. To understand key trends, Download Sample Report. Some of the major companies that dominated the market studied are Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo  Group, Doosan Infracore, and XCMG, captured about 40% of the market share in 2019. The construction industry is getting smarter. Apart from the above top players, small-scale or domestic players have been accounted for a significant share of more than 50% of the market in 2019. The North American crane count has reached a new peak. Click here. Join our mailing list for the latest report releases and upcoming event notifications. All Rights Reserved to Mordor Intelligence. These factors cut into industry … Insight into the historic and forecast data of the market. MARKET OPPORTUNITIES AND FUTURE TRENDS. Digitalization, connectivity, and automation are driving the development forward, leaving a substantial impact on construction projects. We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Some of the major companies that dominated the market studied are Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, and XCMG, captured about 40% of the market share in 2019. The team has decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. The large construction projects, across the world, are expected to drive the crane and construction machinery market shortly. US manufacturers compete with their counterparts around the world. Toronto is leading this market with 70 of their cranes dedicated to high-rise cooperative projects. Asia-Pacific ranks first in the construction equipment market with major market share held by China, India, and Japan. Construction machinery is also referred as heavy-duty vehicle, specially designed for executing construction tasks, such as construction of roads, buildings or any other infrastructures and excluding mining activities like surface mining and underground mining. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at, Construction Machinery Manufacturing: Global Markets to 2020, Dredging Equipment: Global Markets and Technologies, Highway, Street and Bridge Construction: Global Markets to 2022, Residential Building Construction Industry: Global Markets to 2022, Full Report: Construction Machinery Manufacturing: Global Markets to 2020, Chapter- 3: Construction Equipment Manufacturing Market Characteristics, Chapter- 4: Construction Equipment Manufacturing Market Size and Growth, Chapter- 5: Construction Equipment Manufacturing Trends and Strategies, Chapter- 7: Construction Equipment Manufacturing Market Segmentation, Chapter- 8: Construction Equipment Manufacturing Market Regional And Country Analysis, Chapter- 9: Global Construction Equipment Manufacturing Market Comparison with Macro Economic Factors, Chapter- 10: Asia-Pacific Construction Equipment Manufacturing Market, Chapter- 11: China Construction Equipment Manufacturing Market, Chapter- 12: Western Europe Construction Equipment Manufacturing Market, Chapter- 13: Western Europe Construction Equipment Manufacturing Market: Country Analysis, Chapter- 14: Eastern Europe Construction Equipment Manufacturing Market, Chapter- 15: Eastern Europe Construction Equipment Manufacturing Market: Country Analysis, Chapter- 16: North America Construction Equipment Manufacturing Market, Chapter- 17: North America Construction Equipment Manufacturing Market: Country Analysis, Chapter- 18: South America Construction Equipment Manufacturing Market, Chapter- 19: South America Construction Equipment Manufacturing Market: Country Analysis, Chapter- 20: Middle East Construction Equipment Manufacturing Market, Chapter- 21: Africa Construction Equipment Manufacturing Market, Chapter- 22: Construction Equipment Manufacturing Market Competitive Landscape, Chapter- 23: Key Mergers and Acquisitions in the Construction Equipment Manufacturing Market, Chapter- 24: The Construction Equipment Manufacturing Market Customer Information. Copyright document.write(new Date().getFullYear());, Hoover's, Inc., All Rights Reserved. Inventories for businesses in the construction machinery manufacturing industry decrease $63 million, or one percent, to $6 billion in August, according to the U.S. Census Bureau. This statistic shows the revenue of the industry “construction machinery manufacturing“ in the U.S. from 2012 to 2017, with a forecast to 2024. This is a list of the largest companies active in the Construction Machinery Manufacturing industry. Reports are discounted or included with certain, All reports provided in PDF format. These individuals are experts in secondary research and primary forecasting - compiling and layering existing data with their original research and analysis. This differs from market share in the following example: One business with revenues of $100 million generates 10% of its business from the Construction Machinery Manufacturing industry. Companies in this industry manufacture construction machinery, surface mining machinery, and logging equipment. BCC Research analysts craft reference reports with a unique end noted referencing methodology, which allows users to cross reference and trace market numbers back to their source. The construction machinery market is segmented by Machinery Type (Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader and Others), Drive Type (Hydraulic, and Electric and Hybrid), and Geography. The global highway, street and bridge construction market will grow from $1.5 trillion in 2017 to $2.2 trillion by 2022 with a compound annual growth rate (CAGR) of 8.4% for the period of 2017-2022. Germany, France, and Italy have witnessed the highest growth rates, owing to the construction projects happening in the region. The US construction machinery manufacturing industry is highly concentrated: the top 50 companies generate about 90% of industry revenue. Privacy Policy. It is anticipated that this growth will continue through 2019, as many cities in North America continue to add to their roster of proposed developments. The increasing number of dam construction, real-estate business, commercial and residential complexes, and expansion of rail and road infrastructure in the APAC region are few drivers for the construction machinery market. The profitability of individual companies depends on efficient manufacturing operations, since customers are very sensitive to price. Construction Machinery Manufacturing in the US The Construction Machinery Manufacturing industry produces equipment for residential, nonresidential, highway and other infrastructure construction. Major companies include Caterpillar and Terex (both based in the US), Atlas Copco (Sweden), Doosan Infracore (South Korea), Hitachi and Komatsu (both based in Japan), Liebherr Group (Germany), and Sany Heavy Industry (China), along with the construction divisions of heavy equipment manufacturers Deere (US), CNH Industrial (UK), and Volvo (Sweden). Demand is highly dependent on construction spending. The construction machinery market study includes machinery, such as Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader and Others, as well as drive type, such as Hydraulic, and Electric & Hybrid.

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