Construction and Mining Machinery Equipment – Market to Exceed
The construction and mining machinery/equipment market is in the midst of a consolidation phase, as acquisitions and strategic partnerships are still continuing after a spurt in the consolidation wave of the nineties. The highly competitive industry has maintained price levels in the moderate range with slight fluctuations, over the last few years.
Nearly 4.8% growth is likely to be registered in the global construction investments by the year 2012. India and China are expected to grow at a healthy rate that is way above the average global growth rate. In terms of volume sales, United States is the largest regional market with an estimated share of 26.56% of the global unit sales in 2007. The new trend in US and Europe to combine a mini-excavator with a skid steer loader for optimum performance is one of the reasons behind the demand for mini-excavators. In terms of volume sales, skid-steer loaders represent the largest product segment in the United States with sales projected to exceed 71 thousand units for 2009. Sales of construction and mining machinery/equipment in Europe are projected to exceed 195 thousand units by the end of the year 2008.
Supply-demand dynamics for different types of construction & mining equipment is primarily determined by the nature of construction-related projects and level of mining activity in a country. Considering the diversity of projects in developed and developing nations, demand for construction equipment varies across regions. The developed world has well-established residential, commercial and industrial sectors, as well as advanced infrastructure.
Key competitive factors that affect construction & mining equipment manufacturers include service, distribution networks, quality, features and price. In addition, unprecedented growth in the rental industry transformed the landscape for customers, manufacturers and distributors of construction equipment. Further, key end markets for construction equipment such as mining and forestry exert a significant impact on the industry.
The report titled “Construction and Mining Machinery/Equipment: A Global Strategic Business Report” published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, mining equipment industry, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in terms of sales volume for regions such as United States, Canada, Japan, China, Europe and Rest of World. Analytics are presented in terms of units over the years 2000 through 2010. Long-term projections are provided for the period 2011-2015. Select product segments independently analyzed include Mini Excavators, Hydraulic Excavators, Pavers, Compactors, Cranes, Crawler Loaders, Crawler Tractors, Backhoe Loaders, Graders, Haulers/Dump Trucks, Rough Terrain Forklifts, Scrapers, Wheeled Loaders, and Skid Steer Loaders.