Asia-Pacific driving demand for construction machinery

• 6 December 2016
• Local News
• 708 Views

Recent research by Stratistics MRC shows that the fast-developing economies in the Asia-Pacific region are driving record demand for global heavy construction equipment.

Their report ‘Heavy Construction Equipment Global Market 2015-2022’ shows that while the market was valued at USD116.48 billion in 2015, they expect to see a compound annual growth rate (CAGR) of 7.34 percent to reach USD191.34 billion by 2022.

According to the report, “The developing markets in Asia-Pacific are providing ample opportunities for the players owing to the huge investments that are being made in the region. Agreements, contracts, joint ventures, and partnerships are observed as the successful strategies by the players in the market.”