Asia Pacific Construction Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia Pacific Construction Equipment Market is segmented by Machinery Type (Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader, and Others), Drive Type (IC Engine and Electric & Hybrid), and Country.

Market Snapshot

apce_snapshot
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >9 %

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Market Overview

The Asia Pacific construction equipment market is expected to exhibit a growth rate of over 9% during the forecast period 2020-2025.

  • To fight major problems like traffic congestion, population explosion, high manufacturing costs and ageing transportation infrastructure, developing economies are now investing heavily in infrastructure development. These factors are boosting the sales of construction machinery market across the Asia Pacific geography.
  • The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressurizing construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones.
  • The overall situation of the crane market has shown signs of development, owing to the growth in the number of mega construction projects in the Asia-Pacific region. China’s One Belt One Road initiative is a highly ambitious project that serves the purpose of constructing a unified market with geographies around World through road, rail and sea routes.

Scope of the Report

The Asia Pacific Construction Equipment Market covers the latest trends and technological development in the Asia Pacific construction equipment, demand of the machinery type, drive type, countries and market share of major construction equipment manufacturers in Asia Pacific.

Machinery Type
Cranes
Telescopic Handling
Excavator
Loaders And Backhoe
Motor Grader
Others
Drive Type
IC Engine
Electric And Hybrid
By Country
China
India
Japan
South Korea
Rest of Asia Pacific

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Key Market Trends

Electrification of Construction Equipment

Increase in construction activities across the globe has resulted in increased consumption of diesel. Although diesel has high energy content compared to gasoline but its combustion releases dangerous exhausts into the environment. Governments and pollution regulatory bodies across Europe has established norms and regulations that requires diesel engines to produce almost negligible NOx and SOx emissions. This has opened the doors for OEMs to switch to hybrid and complete electric vehicles in the future. Electric construction equipment are not only zero emission machines but also produces very less heat, noise and vibrations.

Electric construction equipment use fewer parts compared to diesel equipment and use of electricity brings down the total cost of operations both for rental company and customer.

Many key construction equipment manufacturers across the globe have launched their electric construction equipment.

  • On March 11, 2019, XCMG showcased XE35U-E, world’s first all electric excavator in Las Vegas. The excavator has an operational time of nearly 12 hours between 2 subsequent charges.
Asia Pacific Construction Equipment Market_Trend1

Rise of Construction Industry in China

Asia pacific countries exhibits the fastest economic growth rates in the entire world. The Asia-Pacific region is expected to be a major market propelling the global construction industry, with augment construction activities in countries, such as China, India and ASEAN countries.

Ongoing mega projects in China needs a lot of machinery and materials to be displaced from one part of the country to the other. Projects like Tianhuangping hydroelectric project, South North water transfer project, Belt and Road Initiative and Beijing airport are some of the many projects that will deploy many construction equipment. China recorded an average monthly growth of 5.3% in fixed asset infrastruture development in 2019. China also recorded a 25% increase in excavator sales in 2019, indicating growth in construction activities. In 2018, market value of consstruction industry in China was valued at nearly USD 900 billion which is expected to grow more than 1.1 trillion by 2021.

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Competitive Landscape

The Asia Pacific Construction Equipment Market is consolidated with players such as XCMG, LGMG, Sany, Zoomlion etc. dominating the market.

  • In October 2018, Hitachi Construction Machinery launched its ICT operated semi-autonomous ZX210X-6 excavator that can complete the task nearly 50% quicker than other standard excavators.
  • In 2019, Volvo Construction Eqipment announced in a official statement that it will start producing compact electric excavators and wheel loaders. EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be in production from mid 2020.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Machinery Type

      1. 5.1.1 Cranes

      2. 5.1.2 Telescopic Handling

      3. 5.1.3 Excavator

      4. 5.1.4 Loaders And Backhoe

      5. 5.1.5 Motor Grader

      6. 5.1.6 Others

    2. 5.2 Drive Type

      1. 5.2.1 IC Engine

      2. 5.2.2 Electric And Hybrid

    3. 5.3 By Country

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 South Korea

      5. 5.3.5 Rest of Asia Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 XCMG Group

      2. 6.2.2 Sany Group

      3. 6.2.3 Lingong Machinery Group

      4. 6.2.4 Hitachi Construction Equipments Co. Ltd

      5. 6.2.5 Komatsu Limited

      6. 6.2.6 Kobelco Construction Machinery

      7. 6.2.7 Hyundai Heavy Industries

      8. 6.2.8 Doosan Group

      9. 6.2.9 Zoomlion Heavy Industry Science And Technology Co., Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia Pacific Construction Equipment Market market is studied from 2018 - 2026.

The Asia Pacific Construction Equipment Market is growing at a CAGR of >9% over the next 5 years.

XCMG Group, Sany Group, Hitachi Construction Equipments Co. Ltd. , Komatsu Limited, Kobelco Construction Machinery are the major companies operating in Asia Pacific Construction Equipment Market.

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