Online Research Company, Research and Markets has released a report titled “Construction Equipment Market-Global and China Forecast, Market Share, size, growth and Industry Analysis (2010-2017).
According to the report, the global market for construction equipment underwent a decline after the year 2008 due to the economic depression. The decline continued to occur through the years 2009 and 2010.
However, in the global market, particularly the Asia-Pacific region is showing slow progress according to the expected growth rate. In the global arena, China has a leading position in terms of being the largest market for construction equipment. The report states that growth in construction equipment market in the US is being driven by new construction of public works, highways and bridges. The number of residential construction projects is also steadily increasing in the US. A majority of construction companies across the world are focussing on investing in different countries through various product launches.
A major portion of investment from these companies is for research and development besides regular product based investments. Latest technology in the industry is also responsible for new equipment and machines which has brought the competition in the market to a different level. In order to keep up with the competition companies will have to consolidate their operations through mergers and acquisitions. The report that has been released now analyses industry trends, market growth rate and the structure of the industry in terms of prices and market share of leading companies. The report uses historical data as a basis to forecast production, market size and other key factors that will drive or restrict the market in the future.
Source: http://www.researchandmarkets.com