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Asia pacific construction equipment market to generate admirable revenue in the forecast period

Author : Rahul Varpe | Published Date : 2019-08-02 

Speaking in the similar context, numerous prominent heavy-equipment makers are developing advanced excavators which has fortified the stance of earthmoving and road building equipment segment in the Asia Pacific construction equipment market. For instance, Hitachi recently introduced ZH210-6 excavator which is regarded as one of the most fuel-efficient and light-weight excavators to have been developed in the recent past. Equipped with high-grade hydraulics, ZH210 emits reduced levels of carbon dioxide and consumes less fuel.

Driven by massive spending on infrastructural projects and rising inflow of FDI in the real estate sector, Asia Pacific construction equipment market has established itself as one of the most lucrative business spheres in the recent times. The rise of online retail outlets and the convenience of replacing parts by the firms via online channels has been creating considerable opportunities for the players operating in the Asia Pacific construction equipment market.

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How has the Indian government’s urban modernization and affordable housing programs favored the APAC construction equipment industry?

Following its establishment as one of the prominent growth engines of the Asian continent, India has stepped up its efforts to reform the way urbanization has been progressing in the nation over the last few decades. Owing to increasing population and high rate of migration, the demand for affordable housing is on the rise. In addition to this, the need to upgrade the overall transportation network across urban and rural areas has been one of the top-most priorities of the nation.

To achieve the desired results in terms of sustainable urbanization in this time and age, India has been investing heavily in the construction sector – a business vertical which has emerged as the second largest employer in the nation over the last few years. The construction sector received a humongous boost by the Indian government in 2015 when it launched three mega urban transformation schemes viz., Housing for All, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and Smart Cities Mission.

After constructing large-scale projects such as the world’s largest dam and building a 26-mile-long bridge, China is now focusing on unprecedented infrastructural projects such as Belt and Road Initiative. Regarded as the largest undertaking in its modern history, the initiative aims to develop and build an enormous network of railroads and shipping lanes between China and 65 nations in Europe, the Middle East, North Africa, and Asia.

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Although it was first proposed in the year 2013, Belt and Road Initiative has garnered considerable momentum only last year and is expected to provide significant push to the Asia Pacific construction equipment industry. Moreover, China’s is rapidly transitioning toward a consumer and services driven economy which opens up a new kind of construction in social, educational, and healthcare infrastructure.

Powered by the launch of innovative and technologically-superior equipment, swift pace of urbanization, rising demand for affordable housing, and massive spending on infrastructural projects by chief economies of Asia such as India and China, the remuneration portfolio of Asia Pacific construction equipment industry is slated to surpass USD 80 billion by 2025.

Related news - https://medium.com/@indutrynews/agriculture-equipment-market-research-report-2019-top-players-agco-corporation-john-deere-edaddfd0bca5 

https://medium.com/@indutrynews/furniture-market-research-report-2019-top-players-are-ashley-furniture-industries-kohler-co-b778ff2e9bca

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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