DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/cf7s2v/global) has announced the addition of the "Global Earthmoving Equipment - Key Trends and Opportunities to 2015" report to their offering.
The value of the global earthmoving equipment increased at a CAGR of 1.13% during the review period (2006-2010). Robust growth in the Asia-Pacific region has offset decline in the world's other two significant markets, North America and Europe, which recorded CARCs of -10.69% and -8.28% over the review period.
The global economic crisis was one of the main factors behind steep industry contraction. Loaders, the largest sector in the global earthmoving equipment market, achieved a CAGR of 2.28% during the review period, increasing their market share from 36.5% in 2006 to 38.2% in 2010.
The excavators sector recorded the fastest growth rates with a CAGR of 2.43% and accounted for 35.6% of the earthmoving equipment market, an increase of 1.7 percentage points over 2006. Construction tractors, the smallest sector, recorded a CARC of -1.97% during the review period, observing a market share contraction of 29.6% in 2006 to 26.1% in 2010.
- Robust growth in the Asia-Pacific region has offset decline in the world's other two significant markets, North America and Europe, which recorded CARCs of -10.69% and -8.28% over the review period.
- Construction activities increased in most countries by 2010, a trend which is anticipated to continue over 2011. Timetric projects the earthmoving equipment market to record positive growth and achieve a CAGR of 9.26%.
- Globally, the Asia-Pacific region represents the largest and fastest growing earthmoving equipment market, equivalent to a 51.4% share of global value.
- South America represented the second fastest growing earthmoving equipment market globally, with a review period CAGR of 13.86%. Growth has been supported by the implementation of a political and economic plan known as Democratic Security, in Colombia alongside a US$285.4 billion (BRL500.8 billion) investment allocation by the Brazilian federal government for infrastructure development under the Programade Aceleraçãodo Crescimento (PAC) program.
Mitsubishi Heavy Industries, Ltd
Hyundai Heavy Industries Co. Ltd
Hitachi Construction Machinery Co. Ltd
Doosan Infracore Co. Ltd
Telco Construction Equipment Company Limited
For more information visit http://www.researchandmarkets.com/research/cf7s2v/global.
Source: Research and Markets