Global Road Construction Machinery Market Share - Segmentation by Machine Type (Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer) and by Geography - Growth, Trends, and Forecast (2018 - 2023)

The road construction machinery market has witnessed significant growth in the recent past, owing to the increased road development programs undertaken by the central and state governments, especially in the Asia-Pacific countries. Growing demand from irrigation industry, increasing number of upcoming highway construction projects and advanced vehicles equipped with emission control systems are some of the factors expected to drive the construction machinery market over the forecast period.

The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressurizing construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones. Great Man-Made River (GMR) project in Libya has been working since 1985, to irrigate more than 3, 50,000 acres of arable land, and is scheduled to complete by 2030. Dubai has undertaken a project to improve its economy by constructing Dubai land, which includes sports venue, theme parks, eco-tourism, health facilities, science attraction, and hotels, in 278 km by 2025. Moreover, this project is in the process of employing advanced automated construction machinery.

Which Market Dynamics Are Effecting Demand of Road Construction Machinery-
The increase in the number of smart cities will primarily impact the growth of the demand for road construction equipment. Also, the growing urban population has put pressure on existing urban services, like public transport and road networks. This has led to the increase in the number of smart cities to accommodate the increasing urban population. The maximum number of road networks in these cities are anticipated to have concrete paved roads since they can reduce the fuel consumption of vehicles. This will, in turn, fuel the market’s growth prospects in the coming years

Geographical Analysis of Road Construction Machinery Market
The Asia-Pacific is expected to be the primary revenue contributor to the market. There is a growth in demand for concrete and road construction equipment from the developing countries due to growing population. The governments of several states have already announced the construction of many large-scale road networks by 2025 to connect different cities and to meet the requirement of the increasing urban population.

Key Developments in the Road Construction Machinery Market
June 2018: Russia imposes additional tariffs on U.S. road construction equipment.
June 2018: Kansas transportation officials are beginning a pilot project to determine how drones could be used in future road design work.

Road Construction Machinery Market Major Players:
Caterpillar
John Deere
Komatsu Ltd.
Terex Corporation
Volvo Construction Equipment
Liebherr Group

Reasons to Purchase Road Construction Machinery Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The vehicle type that is expected to dominate the market
The countries that are expected to witness the fastest growth during the forecast period
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