Construction Equipment Market by in APAC Product, and Application - Forecast and Analysis 2023-2027

Published: Jan 2023 Pages: 162 SKU: IRTNTR74924

The construction equipment market in APAC is estimated to grow at a CAGR of 5.09% between 2022 and 2027. The size of the market is forecast to increase by USD 19,239.15 million. The growth of the market depends on several factors, including the increased investment in infrastructure, the increase in the number of smart cities, and the increasing residential and commercial construction activities.

This report extensively covers market segmentation by product (earthmoving equipment, material handling equipment, concrete and road construction equipment, and other equipment) and application (commercial, residential, and infrastructure). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Construction Equipment Market in APAC During the Forecast Period?

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Construction Equipment Market in APAC: Key Drivers, Trends, Challenges, and Customer Landscape

The increased investment in infrastructure is notably driving the market growth, although factors such as the growing secondhand machine equipment may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Construction Equipment Market Driver in APAC

Increased investment in infrastructure is driving the growth of the APAC construction equipment market. The demand for construction equipment is growing in APAC owing to the increasing investment in infrastructure projects. For instance, in 2020, China invested around $13.1 billion in the development and construction of the Beijing International Airport, which is designed to handle about 72 million passengers by 2025. Governments across the region are investing significantly in the development of sports infrastructure and facilities.

For instance, in 2022, China invested USD 3.9 billion in Olympic infrastructure. Thus, the spending on capital-intensive projects and infrastructure development is expected to grow significantly in the next decade. Such actions taken by governments to improve the infrastructure are expected to drive the growth of the market in APAC during the forecast period.

Significant Construction Equipment Market Trend in APAC

The rising number of strategic partnerships and alliances is the primary trend in the APAC construction equipment market growth. The growth potential of the construction equipment market in APAC is encouraging vendors to enter into strategic partnerships and acquisitions to expand their customer base and footprint. Due to this, the vendors in the market are carrying out acquisition strategies. For instance, in January 2021, Sumitomo Corporation acquired 100% of the shares of Aver Asia Pte. The acquisition helped Sumitomo Corporation expand its business in Southeast Asia, which will witness growth in the construction equipment rental market.

Similarly, in September 2020, SANY partnered with Adelaide Heavy Machinery to expand its reach in South Australia. The increasing number of partnerships and acquisitions in the market in focus is expected to accelerate the growth of the market in APAC during the forecast period.

Major Construction Equipment Market Challenge in APAC

The growing number of secondhand machine equipment is a major challenge to the growth of the APAC construction equipment market. A major challenge faced by the market in APAC is the growing secondhand machine equipment sector. Since many manufacturing industries have moved to APAC, owing to the low-cost manufacturing facilities in the region, secondhand machines are being used, especially in emerging economies, such as China, India, and Pakistan. It has been observed that many Asian contractors and mining companies are eager to buy secondhand construction equipment, such as excavators, at low prices.

By using secondhand machines, contractors can control their capital investments as these machines are available at affordable prices. Small manufacturers find it challenging to buy new machines owing to their high costs. Once refurbished and reconditioned, these machines become as good as new ones. China has become a major market for secondhand machines among construction equipment vendors. Thus, the growing secondhand machine market will limit the demand for new construction equipment market in the APAC during the forecast period.

Key Construction Equipment Market in APAC Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Construction Equipment Market in APAC Customer Landscape

Who are the Major Construction Equipment Market Vendors in APAC?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

cnhindustrial.com - The company offers construction equipment such as hydraulic excavators, track-type tractors, wheel loaders, and soil compactors.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AB Volvo
  • Caterpillar Inc.
  • Deere and Co.
  • Doosan Corp.
  • Epiroc AB
  • Guangxi LiuGong Machinery Co. Ltd.
  • Hitachi Ltd.
  • Hyundai Construction Equipment Co. Ltd.
  • J C Bamford Excavators Ltd.
  • Komatsu Ltd.
  • Kubota Corp.
  • Larsen and Toubro Ltd.
  • Liebherr International AG
  • Mahindra and Mahindra Ltd.
  • SANY Group

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Parent Market Analysis

The Asia Pacific construction equipment market is a part of the global construction machinery and heavy trucks market within the global capital goods market. The parent market covers a variety of product categories, including heavy-duty trucks, heavy earthmoving equipment, compact earthmoving equipment, road construction, and compaction equipment, crushing and screening equipment, concrete equipment, civil engineering equipment, lifting equipment, and other related equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

What is the Fastest-Growing Segment in the Construction Equipment Market in APAC?

The market share growth by the earthmoving equipment segment will be significant during the forecast period. In this segment, the growth in the number of megacities reflects the growing migration of the population from rural areas to urban areas. The migration also signifies the growing disposable incomes of the population. As a result of the increased disposable incomes and the migration of the population to urban areas, cities are expanding to accommodate the growing population. Consequently, the construction of roads, railways, residential buildings, hospitals, and hotels is increasing. This development will lead to increased construction activities and growing infrastructure, which will result in the augmenting demand for earthmoving equipment during the forecast period. Countries such as India and China, which are witnessing a trend of urbanization, are expected to drive the demand for earthmoving equipment during the forecast period. 

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The earthmoving equipment segment USD 33,655.04 million in 2017 and continue to grow by 2021. The earthmoving equipment segment comprises mobile and power-propelled vehicles designed to carry, dig, spread, or move earth or materials. These are usually used to excavate or move large amounts of earth, dig foundations, and landscape an area. The equipment under this segment includes excavators, loaders, dozers, and motor graders. The increasing investment in the infrastructure industry to improve facilities in the government and private sectors is expected to provide growth opportunities for the vendors in the earthmoving equipment segment of the Asia Pacific construction equipment market in focus during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Product Outlook (USD Million, 2017 - 2027)
    • Earthmoving equipment
    • Material handling equipment
    • Concrete and road construction equipment
    • Other equipment
  • Application Outlook (USD Million, 2017 - 2027)
    • Commercial
    • Residential
    • Infrastructure

Construction Equipment Market Scope in APAC

Report Coverage

Details

Page number

162

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.09%

Market growth 2023-2027

USD 19,239.15 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.56

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Epiroc AB, Guangxi LiuGong Machinery Co. Ltd., Hitachi Ltd., Hyundai Construction Equipment Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Kubota Corp., Larsen and Toubro Ltd., Liebherr International AG, Mahindra and Mahindra Ltd., SANY Group, Sumitomo Heavy Industries Ltd., Tadano Ltd., XCMG Group, and Atlas Copco AB

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Construction Equipment Market Report in APAC?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the construction equipment market in APAC between 2023 and 2027
  • Precise estimation of the Asia Pacific (APAC) construction equipment market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of Asia Pacific (APAC) construction equipment market vendors.

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on APAC: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ million)

    4 Historic Market Size

    • 4.1 Construction equipment market in APAC 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Construction equipment market in APAC 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 Application Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.4 Country Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 22: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 29: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 30: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 31: Chart on Comparison by Product
      • Exhibit 32: Data Table on Comparison by Product
    • 6.3 Earthmoving equipment - Market size and forecast 2022-2027
      • Exhibit 33: Chart on Earthmoving equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 34: Data Table on Earthmoving equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Chart on Earthmoving equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 36: Data Table on Earthmoving equipment - Year-over-year growth 2022-2027 (%)
    • 6.4 Material handling equipment - Market size and forecast 2022-2027
      • Exhibit 37: Chart on Material handling equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 38: Data Table on Material handling equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Chart on Material handling equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 40: Data Table on Material handling equipment - Year-over-year growth 2022-2027 (%)
    • 6.5 Concrete and road construction equipment - Market size and forecast 2022-2027
      • Exhibit 41: Chart on Concrete and road construction equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 42: Data Table on Concrete and road construction equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Chart on Concrete and road construction equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 44: Data Table on Concrete and road construction equipment - Year-over-year growth 2022-2027 (%)
    • 6.6 Other equipment - Market size and forecast 2022-2027
      • Exhibit 45: Chart on Other equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 46: Data Table on Other equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Chart on Other equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 48: Data Table on Other equipment - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Product
      • Exhibit 49: Market opportunity by Product ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 50: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 51: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 52: Chart on Comparison by Application
      • Exhibit 53: Data Table on Comparison by Application
    • 7.3 Commercial - Market size and forecast 2022-2027
      • Exhibit 54: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 55: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Chart on Commercial - Year-over-year growth 2022-2027 (%)
      • Exhibit 57: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
    • 7.4 Residential - Market size and forecast 2022-2027
      • Exhibit 58: Chart on Residential - Market size and forecast 2022-2027 ($ million)
      • Exhibit 59: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Chart on Residential - Year-over-year growth 2022-2027 (%)
      • Exhibit 61: Data Table on Residential - Year-over-year growth 2022-2027 (%)
    • 7.5 Infrastructure - Market size and forecast 2022-2027
      • Exhibit 62: Chart on Infrastructure - Market size and forecast 2022-2027 ($ million)
      • Exhibit 63: Data Table on Infrastructure - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Chart on Infrastructure - Year-over-year growth 2022-2027 (%)
      • Exhibit 65: Data Table on Infrastructure - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Application
      • Exhibit 66: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 67: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 68: Chart on Market share by geography - 2022-2027 (%)
      • Exhibit 69: Data Table on Market share by geography - 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 70: Chart on Geographic comparison
      • Exhibit 71: Data Table on Geographic comparison
    • 9.3 China - Market size and forecast 2022-2027
      • Exhibit 72: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.4 India - Market size and forecast 2022-2027
      • Exhibit 76: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 79: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.5 Japan - Market size and forecast 2022-2027
      • Exhibit 80: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 83: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.6 South Korea - Market size and forecast 2022-2027
      • Exhibit 84: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Chart on South Korea - Year-over-year growth 2022-2027 (%)
      • Exhibit 87: Data Table on South Korea - Year-over-year growth 2022-2027 (%)
    • 9.7 Rest of APAC - Market size and forecast 2022-2027
      • Exhibit 88: Chart on Rest of APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Data Table on Rest of APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Chart on Rest of APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 91: Data Table on Rest of APAC - Year-over-year growth 2022-2027 (%)
    • 9.8 Market opportunity by geography
      • Exhibit 92: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 93: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 94: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 95: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 96: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 97: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 98: Matrix on vendor position and classification
            • 12.3 AB Volvo
              • Exhibit 99: AB Volvo - Overview
              • Exhibit 100: AB Volvo - Business segments
              • Exhibit 101: AB Volvo - Key news
              • Exhibit 102: AB Volvo - Key offerings
              • Exhibit 103: AB Volvo - Segment focus
            • 12.4 Caterpillar Inc.
              • Exhibit 104: Caterpillar Inc. - Overview
              • Exhibit 105: Caterpillar Inc. - Business segments
              • Exhibit 106: Caterpillar Inc. - Key offerings
              • Exhibit 107: Caterpillar Inc. - Segment focus
            • 12.5 CNH Industrial NV
              • Exhibit 108: CNH Industrial NV - Overview
              • Exhibit 109: CNH Industrial NV - Business segments
              • Exhibit 110: CNH Industrial NV - Key news
              • Exhibit 111: CNH Industrial NV - Key offerings
              • Exhibit 112: CNH Industrial NV - Segment focus
            • 12.6 Deere and Co.
              • Exhibit 113: Deere and Co. - Overview
              • Exhibit 114: Deere and Co. - Business segments
              • Exhibit 115: Deere and Co. - Key news
              • Exhibit 116: Deere and Co. - Key offerings
              • Exhibit 117: Deere and Co. - Segment focus
            • 12.7 Doosan Corp.
              • Exhibit 118: Doosan Corp. - Overview
              • Exhibit 119: Doosan Corp. - Business segments
              • Exhibit 120: Doosan Corp. - Key offerings
              • Exhibit 121: Doosan Corp. - Segment focus
            • 12.8 Epiroc AB
              • Exhibit 122: Epiroc AB - Overview
              • Exhibit 123: Epiroc AB - Business segments
              • Exhibit 124: Epiroc AB - Key news
              • Exhibit 125: Epiroc AB - Key offerings
              • Exhibit 126: Epiroc AB - Segment focus
            • 12.9 Guangxi LiuGong Machinery Co. Ltd.
              • Exhibit 127: Guangxi LiuGong Machinery Co. Ltd. - Overview
              • Exhibit 128: Guangxi LiuGong Machinery Co. Ltd. - Product / Service
              • Exhibit 129: Guangxi LiuGong Machinery Co. Ltd. - Key offerings
            • 12.10 Hitachi Ltd.
              • Exhibit 130: Hitachi Ltd. - Overview
              • Exhibit 131: Hitachi Ltd. - Business segments
              • Exhibit 132: Hitachi Ltd. - Key news
              • Exhibit 133: Hitachi Ltd. - Key offerings
              • Exhibit 134: Hitachi Ltd. - Segment focus
            • 12.11 Hyundai Construction Equipment Co. Ltd.
              • Exhibit 135: Hyundai Construction Equipment Co. Ltd. - Overview
              • Exhibit 136: Hyundai Construction Equipment Co. Ltd. - Product / Service
              • Exhibit 137: Hyundai Construction Equipment Co. Ltd. - Key offerings
            • 12.12 J C Bamford Excavators Ltd.
              • Exhibit 138: J C Bamford Excavators Ltd. - Overview
              • Exhibit 139: J C Bamford Excavators Ltd. - Product / Service
              • Exhibit 140: J C Bamford Excavators Ltd. - Key offerings
            • 12.13 Komatsu Ltd.
              • Exhibit 141: Komatsu Ltd. - Overview
              • Exhibit 142: Komatsu Ltd. - Business segments
              • Exhibit 143: Komatsu Ltd. - Key news
              • Exhibit 144: Komatsu Ltd. - Key offerings
              • Exhibit 145: Komatsu Ltd. - Segment focus
            • 12.14 Kubota Corp.
              • Exhibit 146: Kubota Corp. - Overview
              • Exhibit 147: Kubota Corp. - Business segments
              • Exhibit 148: Kubota Corp. - Key news
              • Exhibit 149: Kubota Corp. - Key offerings
              • Exhibit 150: Kubota Corp. - Segment focus
            • 12.15 Liebherr International AG
              • Exhibit 151: Liebherr International AG - Overview
              • Exhibit 152: Liebherr International AG - Product / Service
              • Exhibit 153: Liebherr International AG - Key news
              • Exhibit 154: Liebherr International AG - Key offerings
            • 12.16 Sumitomo Heavy Industries Ltd.
              • Exhibit 155: Sumitomo Heavy Industries Ltd. - Overview
              • Exhibit 156: Sumitomo Heavy Industries Ltd. - Product / Service
              • Exhibit 157: Sumitomo Heavy Industries Ltd. - Key offerings
            • 12.17 XCMG Group
              • Exhibit 158: XCMG Group - Overview
              • Exhibit 159: XCMG Group - Product / Service
              • Exhibit 160: XCMG Group - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 161: Inclusions checklist
                • Exhibit 162: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 163: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 164: Research methodology
                • Exhibit 165: Validation techniques employed for market sizing
                • Exhibit 166: Information sources
              • 13.5 List of abbreviations
                • Exhibit 167: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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