Market Share of ASEAN Construction Machinery Industry
The ASEAN construction machinery market is characterized by numerous international and regional players, resulting in a highly competitive market environment. The big players have increased their R&D expenditure exponentially to integrate innovation with excellence in performance. The demand for high-performance, highly efficient, and safe handling equipment from the end market is expected to make the market more competitive over the forecast period.
In March 2022, Iridium Communications Inc. announced that it had jointly developed a Link-Belt excavator with Sumitomo Construction Machinery Co., Ltd. Through this partnership, SCM initially integrated Iridium's Short Burst Data Service into its Remote CARE service platform.
ASEAN Construction Machinery Market Leaders
Hitachi Construction Machinery Co
Caterpillar Inc.
Mitsubishi Corporation
Komatsu Ltd.
Xuzhou Construction Machinery Group Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
