The heavy construction equipment market is projected to grow from USD 190.3 billion in 2022 to USD 252.4 billion by 2028, at a CAGR of 4.8% during the forecast period. Heavy construction equipment is specialized machinery that weighs more than 12 metric tons and performs specific construction or demolition work. The equipment is transportable, semi-permanent, or permanent, and is primarily used for earthmoving, lifting containers or materials, drilling holes in earth or rock, and in concrete and paving applications.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1211
Heavy Construction Equipment Companies
Major manufacturers in this market are based in Asia Pacific and Europe. Caterpillar (US), Liebherr AG (Germany), Terex Corporation (US), Volvo Group (Sweden), Komatsu (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), SANY Heavy Industry Co., Ltd. (China), HD Hyundai (South Korea), XCMG Group (China), CNH Industrial N.V. (UK), and J C Bamford Excavators Ltd (UK), are among a few leading players operating in the heavy construction equipment market. Major focus was given to the development of new technologies to improve the performance of heavy construction equipment. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the heavy construction equipment market further.
Caterpillar (US)
Caterpillar manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives, globally. The company operates through three segments, namely, Construction Industries, Resource Industries, and Energy & Transportation. The Construction Industries segment supports customers using machinery in infrastructure and building construction applications. Caterpillar has a presence in more than 500 locations around the globe.
The heavy construction equipment business of the company operates under the Construction Industries and Resource Industries segments. Production of construction machinery is carried out across all the regions including US, China, India, UK, Brazil, etc. The company has a vast network of dealers globally, which is managed under its customer & dealer support. Its key competitors are Hitachi Construction Machinery Co., Ltd. (Japan), CNH Industrial N.V. (Netherlands), and Hyundai Construction Equipment Co., Ltd. (South Korea).
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1211
Komatsu (Japan)
Komatsu manufactures, develops, markets, and sells construction, mining, utility, forestry, and industrial machinery. The company operates through business segments, namely, Construction, Mining and Utility Equipment, Retail Finance, and Industrial Machinery and Others. Its Construction, Mining and Utility Equipment segment provides excavators, loaders, bulldozers, electric rope shovels, dump trucks, motor graders, forklifts, and other related services. The Industrial Machinery and Others segment provides metal forging and stamping presses, sheet metal machines, machine tools, DI-water heaters, etc.
Komatsu operates mainly in the Asia Pacific and the American regions. It has subsidiaries operating across the world in countries such as Japan, China, India, the US, Brazil, Indonesia, Germany, and South Africa. The company has 60 manufacturing operations and 55 sales operations consisting of construction and mining/utility equipment. The key competitors of the company are ACS Actividades de Construcción y Servicios, S.A. (Spain), Bouygues Construction (France), Larsen & Toubro Limited (India), and Taisei Corporation (Japan).
Hitachi Construction Machinery Co., Ltd. (Japan)
Hitachi Construction Machinery Co., Ltd. manufactures and sells construction machinery and industrial vehicles. It operates through the Construction Machinery Business and Solution Business segments. It manages its heavy construction equipment business under the Construction Machinery Business segment, which produces hydraulic excavators, ultra-large excavators, mini-excavators, wheel loaders, and crawler cranes.
Hitachi Construction Machinery Co., Ltd. has 79 subsidiaries and 23 affiliates in Japan and overseas in various countries such as the US, Canada, China, Singapore, Indonesia, Thailand, Malaysia, India, Australia, New Zealand, the Netherlands, the UK, France, Italy, and South Africa. Its key competitors include Caterpillar (US) and Komatsu (Japan).
Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1211
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/heavy-construction-equipment-market-1211.html