Global heavy construction equipment market expected to rise 6.8 percent through 2020

The global heavy construction equipment market is expected to grow by 6.8 percent over the next five years, according to new research data.
The global heavy construction equipment market is expected to grow by 6.8 percent over the next five years, according to new research data. | Courtesy of Shutterstock
The global heavy construction equipment market is expected to grow by 6.8 percent over the next five years, an RnR Market Research forecast projects.

The growth in this market is expected to be propelled by continuous growth in infrastructure spending, especially in developing economies, and increasing demand for residential developments needed for growing populations.

The Asia-Pacific market will register the highest growth by 2020, with construction activity surging in the region, especially in India and China.

The growing demand for technologically advanced solutions that provide better fuel efficiency, material handling and safety features, combined with lower emissions, is expected to drive the market for heavy construction equipment globally.

The report analyzed various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities and challenges.

In addition, key factors such as robust economic development, increases in construction industry investment and rapid urbanization are projected to support the growth in the heavy construction equipment market in the coming years.

Excavation and demolition are projected to dominate the global heavy construction equipment market between 2015 and 2020.