DUBLIN, February 10, 2022 /PRNewswire/ — The “Southeast Asia Construction Equipment Market – Strategic Assessment and Forecast 2022-2028” report has been added to from ResearchAndMarkets.com offer.
South East Asia construction equipment market was valued at $2.1 billion and should reach $2.9 billion by 2027, growing at a CAGR of 4.55%.
In 2021, the economic recovery of Southeast Asian countries has been strongly impacted by the decline of the tourism sector. A survey by the Asian Development Bank revealed that South East Asia the tourism industry experienced a loss of 8.4% of GDP in 2021.
Although the economic recovery is estimated to be slower, investments by governments in infrastructure projects related to healthcare, renewable energy and the housing sector are expected to boost economic activities supporting the construction equipment industry in the region. during the forecast period.
SOUTH EAST ASIA CONSTRUCTION EQUIPMENT MARKET OVERVIEW
- Philippines, Indonesiaand Vietnam are estimated to be major drivers of the construction equipment industry owing to the huge pipeline of infrastructure projects.
- South East Asia the growth of the construction equipment rental market will accelerate sales of new equipment.
- Governments in the region have put in place several plans to recover countries from the impact of COVID-19, which mainly focus on developing infrastructure and increasing public spending. This will drive the demand in the construction equipment market by South East Asia.
REPORT KEY POINTS
- Rising construction projects in the region and the government’s emphasis on harnessing renewable energy resources instead of fossil fuels are expected to drive demand in the machinery and equipment manufacturing industry. South East Asia.
- In recent years, the population of urban areas of The Philippines grew faster than rural areas, mainly due to internal migration caused by economic development in city centers. Thus, the increase in infrastructure projects in urban areas will stimulate demand in South East Asia construction machinery industry.
SOUTH EAST ASIA CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
- Various construction projects in Singapore, Indonesiaand Malaysiasuch as Penang Transport Master Plan, MRT Circle Development Project, Sarawak-Sabah Link Road Project and other major countries in the region, are expected to drive the demand for earthmoving equipment in the region.
- Various public infrastructure projects are planned, such as the Bicol Medical Center Medical Arts Building and the NEDA sa Makati Property Redevelopment Project in The Philippines in 2021. Similarly, development is progressing in various countries of the South East Asia Region. Hence, the demand for aerial platform is expected to increase over the forecast period.
- Major players in Southeast Asia construction machinery industry are Caterpillar, Komatsu, Hitachi Construction Machinery, Kobelco, Volvo Construction Equipment, Kubota, Liebherr, JCB, Xuzhou Construction Machinery Group Co., Ltd. (XCMG) and SANY Group.
- In October 2020Caterpillar announced the acquisition of Weir’s Oil & Gas business, now SPM Oil & Gas, expanding its global presence to serve its Oil & Gas customers
- In 2021, Kobelco reached an assembly of 3,00,000 hydraulic excavators at the Hiroshima plant.
- In September 2020SANY has partnered with Adelaide Heavy Machinery as the appointed dealer for South Australia.
- Hitachi construction machinery
- Volvo construction equipment
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- SANY Group
Other Important Suppliers
- Sumitomo Heavy Industries
- Yanmar Holdings Co
- Zoomlion Heavy Industry
- TAT Hong
- united tractor
- Perkasa Multi-Cranes (MCP)
WHY SHOULD YOU PURCHASE THIS REPORT?
This report is one of the few in the market to offer forecast analysis of prospects and opportunities in terms of:
- Volume (Unit sales)
- Value (USD)
- Get competitive intelligence on economic scenario, advantages in South East Asia major country projects and investments, market dynamics and share.
- Examples of the latest technologies.
- Get a presentation-ready format and easy-to-interpret data.
- Enable decision makers to make informed and profitable choices
- Benefit from expert quantitative and qualitative analysis on projected market value/volume growth. South East Asia construction machinery market share
- Complete supply chain analysis
- Get COVID-19 market impact analysis
- Company profile of 19 suppliers and distributors
Main topics covered:
Chapter 1 – Presentation
- Market overview
Section 2 – Market Overview
- Economic scenario, foreign direct investment, key countries and major projects in South East Asia
Section 3 – Market Landscape
Section 4- Technological Developments
Section 5- Market Dynamics
- Market Drivers, Restraints, Trends, Import/Export Trend Analysis, Supply Chain, Impact of COVID-19
Section 6 – Competitive Landscape
1. Overview of the competitive landscape
2. Major Suppliers (Caterpillar, Komatsu, Liebherr, Hyundai Construction Equipment, Volvo Construction Equipment, JCB, XCMG, SANY Group, Volvo, Hitachi Construction Machinery, LiuGong, Sumitomo)
3. Other important suppliers
4. Profile of distributors
Section 7 – Quantitative Summary
Section 8 – Report Summary
- key ideas
Section 9 – Scope and definition of the report
For more information on this report, visit https://www.researchandmarkets.com/r/bb2a2z
Research and Markets
For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900
US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716
SOURCE Research and Markets