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Technavio’s market research analysts predict the global paving and concreting equipment market to grow steadily during the forecast period and post a CAGR of about 12% by 2021. This industry research report identifies the growth of the construction industry across the world to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Owing to the rapid urbanization and economic growth, there is an increase in the construction of ultra-high-rise buildings in several large and medium-sized cities across the world. This in turn, will increase the demand for paving and concreting equipment, consequently aiding market growth.
Since paving and concreting equipment are quite expensive, they often require a large down payment for purchase. As a result, small and medium-sized enterprises will start renting paving and concreting equipment. This will reduce their operating costs and will in turn, lead to the growth of the equipment rental business.
The market is characterized by the presence of a considerable number of vendors and is dominated by several regional and international players. Vendors usually compete on the basis of technological expertise and focus on providing attractive after-sales services to improve their revenue shares. To improve their market positions, vendors are increasingly investing in designing, planning, developing, branding, and expanding existing facilities and are also increasingly focusing on acquiring new players to enhance their customer base.
The leading vendors in the market are -
During 2016, the compactors segment accounted for the major market shares and dominated the market. Due to their usage across a wide of operations such as road construction, site clearance, and landscaping, this segment will post significant growth in the coming years.
According to this market research and analysis, APAC will be the major revenue contributor to the market throughout the predicted period. This is mainly due to the rise in urbanization in the countries such as China, India, Indonesia, and the Philippines, which will fuel the growth of construction market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
Tags: construction equipment , cement mixer , semiconductor manufacturing, computer devices, hardware and semiconductor global market, embedded systems market share,
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