South East Asia Construction Equipment Market to Grow at 2.3% CAGR through 2022, Says 6Wresearch in Its New Report Published at MarketPublishers.com19 Oct 2016 • by Natalie Aster
LONDON – Nowadays, the impetus to the South-East Asia construction equipment market growth is given by expanding real estate market, healthy demand in the mining sector and ongoing development of public and private infrastructures, among other factors.
Increasing government spending on improvement of existing infrastructure coupled with novel projects particularly in Malaysia and Indonesia, and also new but promising utility projects in Cambodia, Laos and Thailand triggers strong demand for construction equipment in the region. Furthermore, the construction equipment market growth in the South-East Asian region is spurred by a slight economic upturn in the countries of the region associated with a raise in inflows of foreign direct investments (FDI).
The major share of revenues of the overall regional market for construction equipment belongs to Indonesia due to expanding domestic infrastructure and commercial construction. During 2016-2022, Vietnam and the Philippines are predicted to enjoy the highest growth.
From 2016 till 2022, the South-East Asia construction equipment market is anticipated to be on the rise, posting growth at a 2.3% CAGR.
New market study “South East Asia Construction Equipment Market (2016-2022): Market Forecast by Equipment Types, Applications and Countries” by 6Wresearch analyses the construction equipment market in South East Asia in terms of equipment types, geography and applications. It offers an all-encompassing examination of the current situation in the market, covers top and emerging trends, points out high growth areas, looks at the possible future market opportunities, highlights the key market growth drivers and hinders, challenges and restraints. This comprehensive research report examines the competitive environment and comprises an unbiased analysis of the key market players. A review of future growth prospects and market future forecasts up till 2022 are available here.
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