Global Construction Equipment Market to See 4.11% CAGR through 2021, Informs MarketsandMarkets in Its New Report Available at MarketPublishers.com
06 Sep 2016 • by Natalie Aster
LONDON – Surging demand for infrastructural activities along with the increasing demand for technology advanced solutions and advanced infrastructure are predicted to propel the demand for construction and mining equipment. The world’s construction equipment market is expected to grow at a 4.11% CAGR in the years ahead, and by 2021 it will likely reach the value of USD 116.2 billion. Meantime, the mining equipment sector will increase at a 6.2% CAGR though 2021 and exceed USD 136 billion by the end of forecast period. Key factors driving growth in the global market for construction and mining equipment include rapid urbanisation, increasing population number, rising number of construction projects as well as incorporation of novel technologies in equipment.
APAC leads the global construction equipment market and is expected to continue holding the top position through 2021. This regional market will likely register the highest growth rates during the forecast period, spurred mainly by the continuously improving socio-economic conditions in emerging countries like China, Indonesia, India and Thailand.
Cutting-edge MarketsandMarkets’ research study “Construction Equipment Market by Construction Equipment Type, Construction Application, Mining Equipment, by Mining Application, and Region - Global Trends and Forecast to 2021” gives a detailed assessment of the world’s market for construction and mining equipment on the basis of equipment type, geography, applications. It contains info on the major growth influencing factors, touches upon the top challenges, points out the most lucrative opportunities and also covers the prevailing and emerging market development trends. It includes a review of regulative environment, describes competitive pressures, offers data on top players and also contains supply-side and demand-side analyses. The research publication touches upon the burning industry issues and also provides future market forecasts through 2021.
Other reports by this publisher are provided at the MarketsandMarkets page.