HOME Top Market Reports Construction Equipment Market by Construction Equipment Type, Construction Application, Mining Equipment, by Mining Application, and Region (Asia-Pacific, North America, Europe, and ROW) - Global Trends and Forecast to 2021

Construction Equipment Market by Construction Equipment Type, Construction Application, Mining Equipment, by Mining Application, and Region (Asia-Pacific, North America, Europe, and ROW) - Global Trends and Forecast to 2021

By: marketsandmarkets.com
Publishing Date: July 2016
Report Code: AT 2838

 

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The construction and mining equipment market is primarily driven by construction activities across the globe. The construction equipment market is projected to grow at a CAGR of 4.11% during the forecast period, to reach a market size of USD 116.20 Billion by 2021, while the mining equipment market is projected to grow at a CAGR of 6.42% during the same period, to reach a market size of USD 136.03 Billion by 2021. The base year considered for the study is 2015, and the forecast period is 2016 to 2021. The primary objective of the study is to define, describe, and forecast the global construction and mining equipment market on the basis of product, application, and region, and to provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges, winning imperatives, and burning issues).

The research methodology used in the report involves various secondary sources, including paid databases and directories. The market numbers are based on country-wise sales of equipment (construction and mining), which is further added to arrive at the regional market. This regional data is added to derive the global data. Equipment sales have been considered to arrive at the market size, in terms of volume. This country-wise market size, by volume is then multiplied with the country-wise average OE price of each type of equipment. This results in the country-wise market size for that particular equipment, in terms of value. The same approach has been used to calculate the market sizes of the remaining equipment. The summation of the country-wise and regional-level market size, in terms of value, provides the global construction and mining equipment market size.

The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Construction & Mining Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

The construction and mining equipment market ecosystem consists of manufacturers such as Caterpillar Inc. (U.S.), Volvo Construction Equipment AB (Sweden), CNH Industrial N.V. (U.K.), Komatsu Ltd. (Japan), Atlas Copco AB (Sweden), Hitachi Ltd. (Japan), and regional associations such as Construction and Mining Equipment Industry Group (CMEIG) and Spanish  Manufacturers Association Of Construction and Mining Equipment (ANMOPYC).

Target Audience

  • Construction and mining equipment manufacturers
  • Investment and equity research  firms
  • Private equity firms

Scope of the Report

  • By Region
    • North America
    • Europe
    • Asia-Pacific
    • RoW
  • By Construction Application
    • Infrastructure
    • Commercial Buildings
    • Residential Buildings
  • By Mining Application
    • Metal Mining
    • Mineral Mining
    • Coal Mining
  • By Construction Equipment:
    • Articulated Dump Truck
    • Rigid Dump Truck
    • Backhoe Loader
    • Crawler Dozer
    • Crawler Excavator
    • Asphalt Finisher
    • Motor Grader
    • Motor Scraper
    • RTLT-Masted
    • RTLT-Telescopic
    • Crawler Loader
    • Mini Excavator
    • Skid- Steer Loader
    • Wheeled Excavator
    • Wheeled Loaders < 80HP
    • Wheeled Loaders > 80HP
  • By Mining Equipment:
    • Mining Drills and Breakers
    • Crushing, Pulverizing, and Screening Equipment
    • Mineral Processing Machinery
    • Surface Mining Equipment
    • Underground Mining Machinery

Available Customizations

  • Construction Equipment Market, by Telematics

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Package Size
    1.7 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand-Side Analysis
                    2.4.2.1 Growing Population Across the Globe
                    2.4.2.2 Impact of Gdp on Construction & Mining Equipment Sales
           2.4.3 Supply-Side Analysis
                    2.4.3.1 Influence of Other Factors Such as Environmental Regulations
    2.5 Market Size Estimation
    2.6 Data Triangulation
    2.7 Assumptions

3 Executive Summary (Page No. - 30)
    3.1 Introduction

4 Premium Insights (Page No. - 34)
    4.1 Construction Equipment Market, 2016 vs 2021
    4.2 Construction Equipment Market, By Region & By Application, 2016
    4.3 Regional Market Share of the Construction Equipment Market, 2016–2021

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Construction & Mining Activities
                    5.3.1.2 Rising Demand for Advanced Infrastructure in Developing Countries
                    5.3.1.3 Rising Demand for Technologically Advanced Solutions
           5.3.2 Restraints
                    5.3.2.1 Environmental & Health Concerns
                    5.3.2.2 Socio-Economic Implications of Mining
           5.3.3 Opportunities
                    5.3.3.1 Renting Or Leasing of Equipment
                    5.3.3.2 Prospective Collaborations, Joint Ventures, & Mergers & Acquisitions
           5.3.4 Challenges
                    5.3.4.1 Government Regulations
                    5.3.4.2 Market Fluctuations & Capacity Planning
           5.3.5 Burning Issue
                    5.3.5.1 Commodity Price Volatility
    5.4 Technological Retrofit Advancements
    5.5 Value Chain Analysis
    5.6 Porter’s Five Forces Analysis
           5.6.1 Threat of New Entrants: High
           5.6.2 Threat of Substitutes: Low
           5.6.3 Bargaining Power of Suppliers: Moderate
           5.6.4 Bargaining Power of Buyers: Moderate

6 Construction Equipment Market, By Equipment Type (Page No. - 65)
    6.1 Introduction
    6.2 Articulated Dump Truck
    6.3 Rigid Dump Truck
    6.4 Backhoe Loader
    6.5 Crawler Dozer
    6.6 Crawler Excavator
    6.7 Asphalt Finisher
    6.8 Motor Grader
    6.9 Motor Scraper
    6.10 RTLT-Masted
    6.11 RTLT-Telescopic
    6.12 Crawler Loader
    6.13 Mini Excavators
    6.14 Skid-Steer Loader
    6.15 Wheeled Excavator
    6.16 Wheeled Loader <80 HP
    6.17 Wheeled Loader >80 HP

7 Construction Equipment Market, By Application (Page No. - 86)
    7.1 Introduction
    7.2 Asia-Pacific
    7.3 Europe
    7.4 North America
    7.5 RoW

*(The Construction Equipment Market, By Application Covers Infrastructure, Commercial Building, and Residential Buildings Both in Terms of Value and Volume)

8 Mining Equipment Market, By Application & Equipment (Page No. - 95)
    8.1 Introduction
           8.1.1 Mining Equipment Market, By Region
           8.1.2 Mining Equipment Market, By Application
           8.1.3 Mining Equipment Market, By Product

*(The Mining Equipment Market, By Application Covers Metal Mining, Coal Mining and Mineral Mining in Terms of Value)
*(Mining Equipment Considered Under Study Includes Mining Drills & Breakers, Crushing, Pulverizing & Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment, Underground Mining Machinery and Others (Coal Drills, Roof Bolters, and Portable Drill Rigs) )

9 Construction Equipment Market, By Region (Page No. - 100)
    9.1 Introduction
           9.1.1 Asia-Pacific
                    9.1.1.1 By Country
                               9.1.1.1.1 China
                               9.1.1.1.2 India
                               9.1.1.1.3 Japan
           9.1.2 Europe
                    9.1.2.1 By Country
                               9.1.2.1.1 Germany
                               9.1.2.1.2 U.K.
                               9.1.2.1.3 France
                               9.1.2.1.4 Italy
                               9.1.2.1.5 Spain
           9.1.3 North America
                    9.1.3.1 By Country
                               9.1.3.1.1 U.S.
                               9.1.3.1.2 Canada
                               9.1.3.1.3 Mexico
           9.1.4 Rest of the World
                    9.1.4.1 By Country
                               9.1.4.1.1 Brazil
                               9.1.4.1.2 Russia
                               9.1.4.1.3 South Africa

10 Competitive Landscape (Page No. - 140)
     10.1 Market Ranking: Construction & Mining Equipment Market
     10.2 Competitive Situation and Trends
     10.3 New Product Launches
     10.4 Agreements/Joint Ventures/Supply Contracts/Partnerships
     10.5 Expansions
     10.6 Mergers & Acquisitions & Other Developments

11 Company Profiles (Page No. - 147)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     11.1 Introduction
     11.2 Atlas Copco AB
     11.3 Caterpillar Inc.
     11.4 Volvo Construction Equipment AB
     11.5 CNH Industrial N.V.
     11.6 Komatsu Ltd.
     11.7 Hitachi Ltd.
     11.8 Terex Corporation
     11.9 Joy Global Inc.
     11.10 Zoomlion Heavy Industry Science & Technology Development Co. Ltd.
     11.11 Liebherr International AG

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 179)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real Time Market Intelligence
     12.5 Additional Development
     12.6 Available Customizations
     12.7 Related Reports


List of Tables (97 Tables)

Table 1 Economic Factors
Table 2 Construction & Mining Equipment Market Segmentation
Table 3 Construction & Mining Equipment Market: By Construction Equipment
Table 4 Construction & Mining Equipment Market: By Mining Equipment
Table 5 Construction & Mining Equipment Market: By Construction Application
Table 6 Construction & Mining Equipment Market: By Mining Application
Table 7 Porter’s Five Forces Analysis
Table 8 Construction Equipment Market Size, By Type, 2014–2021 (Units)
Table 9 Construction Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 10 Articulated Dump Truck Market Size, By Region, 2014–2021 (Units)
Table 11 Articulated Dump Truck Market Size, By Region, 2014–2021 (USD Million)
Table 12 Rigid Dump Truck Market Size, By Region, 2014–2021 (Units)
Table 13 Rigid Dump Truck Market Size, By Region, 2014–2021 (USD Million)
Table 14 Backhoe Loader Market Size, By Region, 2014–2021 (Units)
Table 15 Backhoe Loader Market Size, By Region, 2014–2021 (USD Million)
Table 16 Crawler Dozer Market Size, By Region, 2014–2021 (Units)
Table 17 Crawler Dozer Market Size, By Region, 2014–2021 (USD Million)
Table 18 Crawler Excavator Market Size, By Region, 2014–2021 (Units)
Table 19 Crawler Excavator Market Size, By Region, 2014–2021 (USD Million)
Table 20 Asphalt Finisher Market Size, By Region, 2014–2021 (Units)
Table 21 Asphalt Finisher Market Size, By Region, 2014–2021 (USD Million)
Table 22 Motor Grader Market Size, By Region, 2014–2021 (Units)
Table 23 Motor Grader Market Size, By Region, 2014–2021 (USD Million)
Table 24 Motor Scraper Market Size, By Region, 2014–2021 (Units)
Table 25 Motor Scraper Market Size, By Region, 2014–2021 (USD Million)
Table 26 RTLT-Masted Market Size, By Region, 2014–2021 (Units)
Table 27 RTLT-Masted Market Size, By Region, 2014–2021 (USD Million)
Table 28 RTLT-Telescopic Market Size, By Region, 2014–2021 (Units)
Table 29 RTLT-Telescopic Market Size, By Region, 2014–2021 (USD Million)
Table 30 Crawler Loader Market Size, By Region, 2014–2021 (Units)
Table 31 Crawler Loader Market Size, By Region, 2014–2021 (USD Million)
Table 32 Mini Excavator Market Size, By Region, 2014–2021 (Units)
Table 33 Mini Excavator Market Size, By Region, 2014–2021 (USD Million)
Table 34 Skid-Steer Loader Market Size, By Region, 2014–2021 (Units)
Table 35 Skid-Steer Loader Market Size, By Region, 2014–2021 (USD Million)
Table 36 Wheeled Excavator Market Size, By Region, 2014–2021 (Units)
Table 37 Wheeled Excavator Market Size, By Region, 2014–2021 (USD Million)
Table 38 Wheeled Loader <80 HP Market Size, By Region, 2014–2021 (Units)
Table 39 Wheeled Loader < 80 HP Market Size, By Region, 2014–2021 (USD Million)
Table 40 Wheeled Loader >80 HP Market Size, By Region, 2014–2021 (Units)
Table 41 Wheeled Loader >80 HP Market Size, By Region, 2014–2021 (USD Million)
Table 42 Global Construction Equipment Market, By Application, 2014–2021 (Units)
Table 43 Global Construction Equipment Market Size, By Application, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Construction Equipment Market Size, By Application, 2014–2021(Units)
Table 45 Asia-Pacific: Market Size, By Application, 2014–2021 (USD Million)
Table 46 Europe: Construction Equipment Market Size, By Application, 2014–2021 (Units)
Table 47 Europe: Market Size, By Application, 2014–2021 (USD Million)
Table 48 North America: Construction Equipment Market Size, By Application, 2014–2021 (Units)
Table 49 North America: Market Size, By Application, 2014–2021(USD Million)
Table 50 RoW: Construction Equipment Market Size, By Application, 2014–2021 (Units)
Table 51 RoW: Market Size, By Application, 2014–2021 (USD Million)
Table 52 Global Mining Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 53 Global Mining Equipment Market Size, By Application, 2014–2021 (USD Million)
Table 54 Global Mining Equipment Market Size, By Product, 2014–2021 (USD Million)
Table 55 Construction Equipment Market Size, By Region, 2014–2021 (Units)
Table 56 Construction Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 57 Asia-Pacific: Construction Equipment Market Size, By Country, 2014–2021 (Units)
Table 58 Asia-Pacific: Market Size, By Country, 2014–2021 (USD Million)
Table 59 China: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 60 China: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 61 India: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 62 India: Market Size, By Equipment Type, 2016–2021 (USD Million)
Table 63 Japan: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 64 Japan: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 65 Europe: Construction Equipment Market Size, By Country, 2014–2021 (Units)
Table 66 Europe: Market Size, By Country, 2014–2021(USD Million)
Table 67 Germany: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 68 Germany: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 69 U.K.: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 70 U.K.: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 71 France: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 72 France: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 73 Italy: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 74 Italy: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 75 Spain: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 76 Spain: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 77 North America: Construction Equipment Market Size, By Country, 2014–2021 (Units)
Table 78 North America: Market Size, By Country, 2014–2021 (USD Million)
Table 79 U.S.: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 80 U.S.: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 81 Canada: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 82 Canada: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 83 Mexico: Construction Equipment Market Size, By Equipment Type, 2014–2021(Units)
Table 84 Mexico: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 85 Rest of the World: Construction Equipment Market Size, By Country, 2014–2021(Units)
Table 86 Rest of the World: Market Size, By Country, 2014–2021( USD Million)
Table 87 Brazil: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 88 Brazil: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 89 Russia: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 90 Russia: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 91 South Africa: Construction Equipment Market Size, By Equipment Type, 2014–2021 (Units)
Table 92 South Africa: Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 93 Construction & Mining Equipment Company Ranking
Table 94 New Product Launches, 2015–2016
Table 95 Agreements/Joint Ventures/Supply Contracts/Partnerships, 2014–2016
Table 96 Expansions, 2013–2016
Table 97 Mergers & Acquisitions & Other Developments, 2011–2015


List of Figures (68 Figures)

Figure 1 Construction & Mining Equipment Market Segmentation
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Significant Growth in Global Population (Billion), 2004–2015
Figure 6 Gross Domestic Product vs Construction Equipment Sales
Figure 7 Market Size Estimation Methodology for the Construction Equipment Market: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology for Global Mining Equipment Market: Top-Down Approach
Figure 9 Construction Equipment Market Snapshot (2016): Asia-Pacific Holds the Maximum Market Share in Terms of Value
Figure 10 Construction Equipment Market Size, By Equipment Type, 2016
Figure 11 Construction Equipment Market Share, By Application, 2016
Figure 12 India has the Maximum Share in Asia-Pacific for Construction Equipment, 2016 vs 2021
Figure 13 Attractive Market Opportunities for Construction Equipment
Figure 14 Asia-Pacific Leads the Market for Construction Equipment in 2016
Figure 15 Infrastructure Application Dominates the Construction Equipment Market in Terms of Volume in 2016
Figure 16 Excavators & Loaders to Constitute 81% of the Total Construction Equipment Market in Terms of Volume , 2016
Figure 17 Surface Mining Equipment & Underground Mining Constitute 58% of the Total Mining Equipment Market in Terms of Volume
Figure 18 Construction & Mining Equipment Market Segmentation
Figure 19 Construction & Mining Equipment Market: By Construction Equipment
Figure 20 Construction & Mining Equipment Market: By Mining Equipment
Figure 21 Construction & Mining Equipment Market: By Construction Application
Figure 22 Construction & Mining Equipment Market: By Mining Application
Figure 23 Construction & Mining Equipment Market: By Region
Figure 24 Increased Infrastructural Activities in Developing Countries & the Increase in Global Construction & Mining Activities are Expected to Drive the Market
Figure 25 Infrastructure Spending in Asian Markets, 2013–2014
Figure 26 Infrastructure Spending Across the Globe, 2006–2024
Figure 27 Global Emission Share of Construction & Mining Equipment, 2014–2015
Figure 28 Global Average Aluminum Prices (USD/MMT), 2014–2016
Figure 29 Value Chain Analysis (2016): Major Value is Added By OEMS During the Manufacturing & Assembly Phase
Figure 30 Porter’s Five Forces Analysis (2016): Presence of Global Players Increase the Degree of Competition
Figure 31 Competitive Rivalry in the Construction & Mining Equipment Market has Medium Impact
Figure 32 Presence of Well-Established Players & High Entry Barriers Have the Highest Impact on Market Entrants
Figure 33 Availability of Substitutes & Technological Advancements Influence the Threat of Substitutes
Figure 34 Low Supplier Concentration & Product Differentiation Keeps the Bargaining Power of Suppliers in Check
Figure 35 Low Degree of Independence & Lack of Substitutes Reduces the Bargaining Power of Buyers
Figure 36 Mini Excavators to Hold the Largest Share in the Construction Equipment Market
Figure 37 Excavators & Loaders to Hold the Largest Shares in the Construction Equipment Market
Figure 38 Broad Applications of Construction Equipment
Figure 39 Global Construction Equipment Market Size (Volume), By Application, 2016 vs 2021
Figure 40 Global Construction Equipment Market Size (Value), By Application, 2016 vs 2021
Figure 41 Asia-Pacific Construction Equipment Market Size (Value), By Application, 2016 vs 2021
Figure 42 Asia-Pacific: an Attractive Market for Mining Equipment Companies
Figure 43 Metal Mining Equipment Segment Accounts for the Largest Market Share (By Value), 2016 vs 2021
Figure 44 Mining Drills & Breakers Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 45 Asia-Pacific Region Holds the Largest Market Share for Construction Equipments in Terms of Volume in 2016
Figure 46 Rapid Urbanization Will Drive the Asia-Pacific Construction Equipment Market
Figure 47 The Construction Equipment Market in Spain Witness the Highest CAGR in 2016
Figure 48 In Terms of Value U.S. is the Largest Construction Equipment Market in North America
Figure 49 Companies Adopted New Product Launch as A Key Growth Strategy From 2012 to 2016
Figure 50 The Construction & Mining Equipment Market Witnessed A Negative Trend From 2012 to 2015
Figure 51 Market Evaluation Framework: New Product Launches Have Fuelled the Demand for Construction & Mining Equipment From 2013 to 2016
Figure 52 Battle for Market Share: New Product Launch Was the Key Strategy
Figure 53 Region-Wise Revenue Mix of Top 5 Market Players
Figure 54 Atlas Copco AB: Company Snapshot
Figure 55 SWOT Analysis: Atlas Copco AB
Figure 56 Caterpillar Inc.: Company Snapshot
Figure 57 SWOT Analysis: Caterpillar Inc.
Figure 58 Volvo Construction Equipment AB: Company Snapshot
Figure 59 SWOT Analysis: Volvo Construction Equipment AB
Figure 60 CNH Industrial N.V.: Company Snapshot
Figure 61 SWOT Analysis: Continental Ag
Figure 62 Komatsu Ltd.: Company Snapshot
Figure 63 Komatsu Ltd.: SWOT Analysis
Figure 64 Hitachi Ltd.: Company Snapshot
Figure 65 Terex Corporation: Company Snapshot
Figure 66 Joy Global Inc.: Company Snapshot
Figure 67 Zoomlion Heavy Industry Science & Technology Development Co.: Company Snapshot
Figure 68 Liebherr International AG: Company Snapshot

The construction equipment market is projected to grow at a CAGR of 4.11% during the forecast period, to reach a market size of USD 116.20 Billion by 2021, while the mining equipment market is projected to grow at a CAGR of 6.42%, to reach USD 136.03 Billion by 2021. A wide array of upcoming infrastructural projects and the rising demand for commodities has led to an increase in construction and mining activities. Additionally technological advancements, such as the introduction of telematics in mining equipment, have led to a rising demand for construction and mining equipment. These advancements have increased the fuel-efficiency, lowered the emission levels, enhanced the safety, and improved the handling of the equipment.

The growing infrastructure industry is expected to drive the construction equipment market, and is estimated to account for a market share of 36.2% in 2016. This can be attributed to major ongoing construction projects around the globe, primarily in developing nations. The Asia-Pacific region is estimated to dominate the construction and mining equipment market, and is projected to grow at the highest CAGR during the forecast period. This growth can be credited to the improving socio-economic conditions in emerging economies such as China, India, and Japan. The RTLT-masted segment is estimated to lead the construction equipment market, by equipment type, while the surface mining segment is estimated to dominate the mining equipment market during the forecast period. The high demand for construction and mining equipment can be credited to the advantages offered by this equipment, such as its user-friendly nature and ability to perform multiple operations in mining and construction activities.

The large consumer base and the high demand for basic infrastructural facilities have boosted the market for construction and mining activities in the Asia-Pacific region, which has, in turn, propelled the growth of the construction and mining equipment market in this region. Asia-Pacific is expected to remain the key region of interest for investors during the forecast period, owing to major upcoming projects. The region houses major economic hubs such as China, India, South Korea, Japan, and Indonesia. The sizeable populations in these countries have resulted in an increased number of government projects such as airports, sewer systems, and renewable energy.

Construction & Mining Equipment Market

Key factors restraining the growth of the construction and mining equipment market include the high cost of the equipment and its complex nature. Moreover, environmental and health concerns and the socio-economic consequences of mining are also hindering market growth.

The construction and mining equipment market has been segmented on the basis of equipment type into loaders, excavators, dozers, mineral processing machinery, and crushing and pulverizing equipment. The construction and mining equipment market is dominated by manufacturers, component suppliers, and construction and mining companies. Key market players include Caterpillar Inc. (U.S.), Hitachi Ltd. (Japan), Joy Global Inc. (U.S.), Komatsu Ltd. (Japan), and Volvo Construction Equipment AB (Sweden).

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