Published on 3/15/2018
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Global Paving and Concreting Equipment Market 2017-2021
The global paving and concreting equipment market to grow steadily during the forecast period and post a CAGR of about 12% by 2021
Full Story Source : technavio.com
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Global outlook of the paving and concreting equipment market
Technavio’s market research analysts predict the global paving and concreting equipment market to grow steadily during the forecast period and post a CAGR of about 12% by 2021. This industry research report identifies the growth of the construction industry across the world to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Owing to the rapid urbanization and economic growth, there is an increase in the construction of ultra-high-rise buildings in several large and medium-sized cities across the world. This in turn, will increase the demand for paving and concreting equipment, consequently aiding market growth.
Since paving and concreting equipment are quite expensive, they often require a large down payment for purchase. As a result, small and medium-sized enterprises will start renting paving and concreting equipment. This will reduce their operating costs and will in turn, lead to the growth of the equipment rental business.
Competitive landscape and key vendors
The market is characterized by the presence of a considerable number of vendors and is dominated by several regional and international players. Vendors usually compete on the basis of technological expertise and focus on providing attractive after-sales services to improve their revenue shares. To improve their market positions, vendors are increasingly investing in designing, planning, developing, branding, and expanding existing facilities and are also increasingly focusing on acquiring new players to enhance their customer base.
The leading vendors in the market are -
- Volvo Construction Equipment
- Atlas Copco
- Leibherr Construction Machines
Segmentation by product and analysis of the paving and concreting equipment
- Concreting equipment
During 2016, the compactors segment accounted for the major market shares and dominated the market. Due to their usage across a wide of operations such as road construction, site clearance, and landscaping, this segment will post significant growth in the coming years.
Geographical segmentation and analysis of the paving and concreting equipment market
According to this market research and analysis, APAC will be the major revenue contributor to the market throughout the predicted period. This is mainly due to the rise in urbanization in the countries such as China, India, Indonesia, and the Philippines, which will fuel the growth of construction market in this region.
This market research report analyzes the key players in the global paving and concreting equipment market such as Caterpillar, Volvo Construction Equipment, Atlas Copco, BOMAG, and Leibherr Construction Machines. The report also presents a competitive analysis of the market by product (compactors, pavers, and concreting equipment) and by geography (the Americas, APAC, and EMEA).
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