The material handling machinery is further classified into four categories based on their purpose of use in the construction site. The dump trucks machine is powered by its hydraulics feature, which allows the operator to lift and dump the load single-handed. The dumpers or the dump trucks are one of the most traditional machinery in the market, are expected to start losing its share due to the introduction of more compact models and hold more than 35% in 2025. Cranes are much commonly known machinery, proffered due to their easy assembly and flexibility and ability to access heightened areas.
As the conclusion of the report titled 'Global Construction Material Handling Market Outlook,' by Bonafide Research; the right combinations of tools in the material handling equipment have attracted the construction companies and the contractors, bringing in huge investments in the industry marking a market value of USD 21.21 Billion in the year 2014. The growth can be attributed to the advantageous involvement of these machinery in the construction site, which leads to a reduction in the time involved and a reduction in the lead-time. Owing to the need for optimum utilization of the resources, the demand for material handling machinery in the construction has increased. As the construction industry came to a halt due to the Covid-19 pandemic, the global market of material handling machinery is also to be impacted adversely. The initial costs of these machines are huge enough to dig a hole in the pockets of the buyers. Thus, many contractors are presumably to opt for renting these machinery for a temporary time being.
With the use of material handling increasing globally, the regions show a mixed trend in the demand for material handling machinery. The economically developing regions of the Middle East & Africa and Latin America are also to have an increase in contribution to the material handling market. The Asia Pacific is the highest contributor in the market by holding a share of up to more than 30% in the year 2019. As many countries in the region are in their developing stage, the need for infrastructural development is in peak, which is to drive the material handling machinery market in the forecasted period. The major regions like North America and Europe follow the Asia Pacific in the market share. Unlike the trends in the Asia Pacific, these regions are likely to have a decrease in the market contribution during the end of the forecasted period.
Nevertheless, the need to developing the infrastructure and demand for more housing units is to drive the construction market in the forecasted period, which would support the growth of the material handling machinery market. The market is expected to grow with an anticipated CAGR of more than 6%, higher than the historical growth rate.
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MAJOR COMPANIES PRESENT IN THE MARKET
Hitachi Construction Machinery, Kobe Steel Ltd., Liebherr Group, Sany Group, Terex Corporation, XCMG Ltd., Zoomlion Co. Ltd.
CONSIDERED IN THE REPORT
• Geography: World Wide
• Base year: 2018-19
• Historical year: 2013-14
• Estimated year: 2019-20
• Forecasted year: 2024-25
REGIONS COVERED:
• North America
• Europe
• the Asia Pacific
• Latin America
• Middle East & Africa
The report also covers the major countries in the region with a clear comparison of the past performance and the estimated growth of the market in the forecasted period. Also, the market is studied in detail with respect to the different types of excavators and their purposes regionally.
ASPECTS COVERED IN THE REPORT
• Market Size By Value for the time period (2014-2019)
• Market Size By Value for the time period (2020-2025)
• Market Share by Application (2019 & 2025)
• Market Share by Machine Type (2019 & 2025)
• Market Share by Region (2019 & 2025)
• Market Share by Country (2019 & 2025)
• Market Share by Company (2019)
THE APPROACH OF THE REPORT:
We keep an eye on evolving markets and try to evaluate the potentials in the product and services. If we found the market interesting, we start working on it and create the desired table of content considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personals, company owners, dealers, distributors & end-users. Once the questionnaires have been finalized, we start collecting the primary data (majorly through phone calls) and try to understand the market dynamics with regional/tier wise. This process gives us in-depth detail of the market including all present companies, the top-performing product with reasons why they dominate; we get the details of new players and their innovative approach and market trends, dynamics, and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. By this, we get a rough estimate of the market and start checking existing product price variant, trade, production, raw material scenario, policies, and regulatory landscape, etc. Then to finalize the market, we start collecting financials of each player present in the market including limited, private limited, and LLPs. Moreover, we perform cross-industry, cross-region analysis of the product, and based on collected primary inputs and using statistical modeling we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but giving more weightage to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, and PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together cross-check the segmentations, validates the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered, and provides their valuable inputs in strategic recommendations’ for new as well as the existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.
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About Bonafide Research
Bonafide Research is a multi-disciplinary research and consulting company that provides all the data required to solve strategic, business, and marketing problems. Bonafide is one of the fastest-growing market research and consulting companies offering syndicated research, custom research, and marketing services. Bonafide Research has not only been working with fortune 500 clients but also served to mid-size companies, small specialists, and even start-ups. Our quality of work has ensured repeat business, recognition, and recommendations from clients across the world.
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4D BIM construction is important for the construction projects either big or small, new construction or a re-build for the successful BIM progression. Each and every stage of 4D construction scheduling that utilize manpower management, materials, machinery, and other activities require effective planning and scheduling of other construction activities.
