North America Construction Vehicles Market to surpass USD26 Billion in 2020
Government initiatives to increase private investment in
infrastructure sector to drive North America construction vehicles market
through 2020
The
construction market in North America has witnessed tremendous growth since 2010
primarily on account of boost in construction industry. Post-recession, with
recovery in the economy, government plans aimed at developing infrastructure,
encouraged construction in both residential and non-residential segments.Growth
in construction sector has resulted in the growth of construction vehicles
market in this region. North America construction vehicles market is dominated
mainly by the United States. Mexico and Canada are other prominent countries
that contribute significantly in North America construction vehicles market.
According
to a recently released TechSci Research report, “North America Construction Vehicles
Market Forecast and Opportunities, 2020’’,
North America construction vehicles market is anticipated to reach over USD26
billion through 2020. Over the last few years, North America construction
vehicles market has witnessed various technological developments such as
changes in engine and vehicle systems, transmission and driveline engineering,
embedding of electronic sensors into vehicles, Around View Monitor (AVM), and
Moving Object Detection (MOD). These developments have helped increase the
effectiveness and efficiency of construction vehicles, which will further drive
growth in construction vehicles market.
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22 market data Tables and 45 data Figures spread through 102 Pages and an
in-depth TOC on "North America Construction Vehicles Market"
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Renting
and leasing of construction vehicles is a major trend emerging in North America
construction vehicles market. Renting companies purchase construction vehicles
and then rent them to construction companies. Though, this is beneficial for
both the renting company and the construction company, this trend has
negatively affected sales revenues of construction vehicle manufacturers, and
consequently, the construction vehicles market. To counter this situation and
increase sales revenues, manufacturers have started their own renting
divisions.
“Caterpillar,
Inc. is currently dominating North America construction vehicles market due to
its large product portfolio, extensive sales and marketing network, and strong
brand image. It is anticipated that the company will continue to retain its
dominance over the forecast period. Komatsu Ltd., Deere & Company and
Liebherr Group, are other major players in North America construction vehicles
market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
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“North America Construction Vehicles Market Forecast
and Opportunities, 2020” has analyzed the potential of the
construction vehicles market in North America and provides statistics and
information on market size, share and trends. The report will suffice in
providing clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers and key challenges faced by
the industry.
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