Top 5 Vendors in the Concrete and Road Construction Equipment Market from 2017 to 2021 | Technavio
Technavio
has announced the top five leading vendors in their recent global
concrete and road construction equipment market report. This
research report also lists 27 other prominent vendors that are expected
to impact the market during the forecast period.
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Technavio has published a new report on the global concrete and road construction equipment market from 2017-2021. (Graphic: Business Wire)
In 2016, crude oil prices stabilized after the Organization of Petroleum
Exporting Countries (OPEC) signed an agreement on extracting crude oil
in less volume. The year 2016 also witnessed the stabilization of
economic conditions of countries in the EU and Latin America. With the
expected stabilization of crude oil prices during the forecast period,
it is anticipated that government investments in infrastructure projects
will also increase.
In 2016, the market in APAC witnessed moderate growth. However, the
demand for construction equipment was higher in APAC than other regions.
This was majorly due to the increased demand for construction equipment
in countries, such as India and China. This demand was coupled with the
increased spending power of the population, thus making the ownership of
a house affordable.
Competitive vendor landscape
The global concrete
and road construction equipment market is fragmented, consisting of
large-scale international manufacturers as well as low-scale regional
vendors, with the clear dominance of large international players. The
manufacturing of concrete and road construction equipment requires
significant initial investments, especially in R&D and setting up
manufacturing facilities, because these devices are heavy-duty and
require a substantial amount of time and workforce.
“Certain large-scale international vendors dominate the market in
most regions globally. In some regions, low-scale vendors dominate the
market. Vendors operating in this market experience the maximum demand
from the road infrastructure sector, making government roadwork
authorities the prominent end-users of concrete and road construction
equipment,” says Gaurav Mohindru, a lead construction
research analyst from Technavio.
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Top five concrete and road construction equipment market vendors
Caterpillar
Caterpillar is an American multinational corporation which is focused in
manufacturing and selling various construction equipment. It has its
presence in various industries, such as heavy industries, finance, and
engines. Caterpillar is a prominent manufacturer of construction,
diesel, and natural gas engines.
Deere
Deere (brand name John Deere) is an American multinational corporation
that manufactures construction, agricultural, diesel engines, forestry
machinery, drivetrains (axles, transmissions, gearboxes) used in heavy
equipment, and lawn care equipment. The company also provides financial
services and other related activities.
Komatsu
Komatsu operates in businesses, such as electronics, and other
solution-based operations, logistics, construction and mining equipment,
industrial machinery, and vehicles. It is a multinational corporation
with manufacturing facilities in Japan, the UK, Sweden, Norway, Russia,
Germany, Italy, China, India, Indonesia, Thailand, the US, Canada,
Mexico, and Brazil.
Terex
Terex is an American multinational corporation which provides equipment
and solutions for industries, such as transportation, construction,
energy, mining, shipping, infrastructure, quarrying, recycling,
refining, and utilities.
Volvo
Volvo is a manufacturer of trucks, mining equipment, and construction
equipment. Volvo focuses in construction equipment and offers products
and services in over 140 countries. The top products offered by Volvo
are compactors, pavers, and loaders.
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