The heavy construction market is expected to grow from $ 129.1 billion in 2016 to $ 180.7 billion by 2021 at a CAGR of 7.0%. Rapid urbanization, increasing demand for improved infrastructure from growing economies, increasing financing in the construction sector, increasing population numbers and high spending by people are the main drivers. of the heavy construction tools market.
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Earthmoving tools are expected to remain the most important section until 2021.
The heavy construction tools market, by type, is segmented into earthmoving tools, material handling tools, heavy construction automobiles, and others. The earthmoving tools section is believed to dominate the heavy construction tools market due to increased funding in infrastructure trade to improve equipments within authorities and personal sectors.
Excavation and demolition is expected to be the fastest growing section in the heavy construction tools market between 2016 and 2021.
The heavy construction tools market, by software, is segmented into excavation and demolition, heavy lifting, transportation, tunneling, and recycling and waste administration. The market in excavation and demolition section is expected to register the best CAGR during the forecast interval. Excavation is necessary to build foundations while also establishing buildings, houses, roads and in addition to create water reservoirs. It is also used to extract minerals and precious metals. The various processes used in the excavation are trenching, digging and website improvement.
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Asia-Pacific is expected to be the main market for heavy construction tools.
The market has been segmented into 5 zones, in particular Europe, North America, Asia-Pacific, Central East and Africa and South America. Asia-Pacific is expected to be the largest market for heavy duty construction tool systems during the forecast interval due to increased construction and manufacturing trade. China is expected to be the region’s main market. The initiatives of the Chinese authorities for the development of infrastructure and the improvement of lifestyles in the country have stimulated the market for heavy construction tools in the region.
The main players in the heavy construction tools market are Caterpillar Inc. (United States), Liebherr AG (Switzerland), Terex Company (United States), Volvo Building Gear AB (Sweden) and Komatsu Ltd. (Japan). These players have adopted a number of methods comparable to mergers and acquisitions, expansions, new product launches and partnerships to strengthen their available position in the market.
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• In June 2014, Volvo acquired the transport business from Terex Company (US) on a debt-free foundation for USD 160 million. The deal included the takeover of the Motherwell, Scotland manufacturing plant, which supplies articulated and rigid haulers.
• In June 2016, Caterpillar Inc. – The new Caterpillar 816Ok Landfill Compactor was built on the proven efficiency, strength and reliability of the Model 816 since 1972. The all-new Ok Sequence model, designed with robust foundational constructions that support a number of lifecycles, featured a fuel-efficient Cat C7.1 ACERT engine, single-lever steering, pressurized cab and wheel / tip choices for extended life . Available Cat COMPACT Applied Sciences, comparable to Compaction Management, improve compaction efficiency and consistency by providing correct compaction values and 3D mapping.
• In August 2014, CNH Industrial NV invested $ 24 million to develop its business in Burlington, Iowa (United States). The company has also added a whole new line of crawler bulldozer products to its new manufacturing facility in Iowa.
• In June 2013, JCB invested approximately US $ 70 million to start manufacturing six-cylinder engines to complement its current offering. Dieselmax 672 range. The all new engines have adopted Stage II emissions standards and have focused on the Russian, Brazilian and Chinese speaking markets.
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