Construction Equipment Market - Rapid Infrastructure Development in Emerging Nations Generates Demand for Construction Equipment

As mining and construction activity revives following the devastating impact of the 2008 economic meltdown, the construction equipment market is poised to report a compounded annual growth rate of 6.0% between 2012 and 2017, says Transparency Market Research’s latest study. According to a market research report published by the U.S.-based market intelligence firm recently, the global construction equipment market was valued at US$143.6 billion in 2012, and is expected to rise to US$192.3 billion by 2017. These findings are detailed in the report titled “Construction Equipment Market - Global and China Forecast, Market Share, Size, Growth and Industry Analysis, 2011 - 2017.”

One of the prime driving factors for the construction equipment market is the steady development of the infrastructure in developing economies. Countries such as China, India, South Korea, Turkey, Brazil, South Africa, and Argentina are witnessing rapid urbanization due to the high availability of lucrative opportunities in urban centers. This has led to a steady demand for urban infrastructure, providing a steady source of revenue for construction equipment manufacturers.

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“The rapid development of urban centers has also necessitated increased mining of metal ores, various types of fuel, and other components required to deliver topnotch infrastructure,” according to TMR’s lead analyst. This has also generated significant revenue for the construction equipment industry and is likely to remain an influential end user in the coming years.

The consistent technological advancement in construction equipment has also been beneficial for the global market. Modern construction equipment features the use of automation technology and is significantly aided by computers, both of which make the construction equipment much more reliable. New construction equipment is also likely to consume less energy than conventional construction equipment, thanks to the widespread prevalence of environmental protection laws across the world.

High Costs Threaten Adoption of Construction Equipment, Leasing to Remain Popular Mode of Use

Being heavy machinery, construction equipment requires high installation costs. While this may not be an issue for large contractors, who can afford to maintain their own fleet of construction equipment, smaller players in the construction market prefer leasing construction equipment. This has emerged as a suitable compromise for the construction equipment industry and is likely to remain this way in the coming years.

Report: http://www.transparencymarketresearch.com/construction-equipment-market.html

Another key restraint on the construction equipment market is the conspicuous differences in import and export duties across the world. Though not a heavily influential factor, this complicates the import-export dynamics of the construction equipment market significantly.

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This release was published on openPR.