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I DA U N I V E R S A L S e p te m b e r - O c to b e r 2 0 1 5 21 TRENDS AND TIDBITS Trends continued on page 23 e global heavy construction equipment market is estimated to reach USD 166.05 billion by 2020, with a projected CAGR of 6.80 percent, signifying a steady increase in the demand for heavy construction equipment. Heavy construction equip- ment is a critical tool for any construction project. It is used extensively at construction sites to reduce labor cost and time. e high construction and infrastructural growth, techno- logical developments and their adaptations, and rapid urbaniza- tion have fueled the growth for heavy construction equipment. Infrastructure is the largest end-use area for heavy construc- tion equipment, especially in emerging markets such as China, Brazil, and India. e global heavy construction equipment market is witnessing decent growth, based on heavy investments done in the infra- structure recreation to accom- modate smart residential and commercial buildings. e devel- oping markets in Asia-Pacifi c are witnessing a strong demand for heavy construction equipment; therefore, large investments are made in these regions. ey provide advanced heavy construction equipment, and by gaining considerable expertise and experience over the years, have optimized their processes and practices to become even more effi cient. e material handling equipment segment is projected to grow at the highest CAGR of 8.42 percent from 2015 to 2020. e key players of heavy construction equipment market implement diff erent strategies such as expansions, agreements, contracts, joint ventures, and partnerships to garner a larger share in the market. e leading heavy construction equip- ment providers are focusing on countries with emerging markets that are estimated to show poten- tial for industrial development in the near future. e heavy construction equipment market is highly fragmented, owing to the huge infrastructure demand and changing technologies. Major companies rely on regional and local distributors to increase their share, as well as geographical presence, in the market. Compa- nies are adopting inorganic growth strategies, such as acquisi- tions, to cope with the increasing demand for heavy construction equipment in key emerging markets. ese strategies have aided companies in creating a large customer and partner base in key markets. e applica- tions requirements for heavy construction equipment, as well as the operating conditions, are continuously changing, making it essential for the manufacturers and service providers to continu- ally invest in research and devel- opment activities and come up with innovative solutions. Scope of the report On the basis of type, the heavy construction equipment market has been segmented as follows: • Earthmoving Equipment • Material Handling Equipment • Heavy Construction Vehicles • Other Heavy Construction Equipment (compactors & road rollers, and pavers/asphalt fi nish- ers) On the basis of application, the heavy construction equip- ment market has been segmented as follows: • Excavation & Demolition • Heavy Li ing • Tunneling • Material Handling • Recycling & Waste Manage- ment On the basis of industry, the heavy construction equipment market has been segmented as follows: • Infrastructure • Construction • Mining • Oil & Gas • Manufacturing • Forestry Companies Mentioned • CNH Global N.V. • Caterpillar Inc. • Deere & Company • Doosan Infracore Ltd. • Hitachi Construction Machin- ery Co. Ltd. • Hyundai Heavy Industries Co. Ltd. • JCB Ltd. • Komatsu Ltd. • Liebherr-International AG • Sany Heavy Industries Co. Ltd • Terex Corporation • Volvo Construction Equipment Ab • Xuzhou Construction Machin- ery Group Co. Ltd. For more information visit: www.researchandmarkets.com/ research/mn3lkh/heavy ● www.businesswire.com, July 2015 Global Heavy Construction Equipment Market 2015 Forecasts to 2020 for the $166 Billion Industry