Southeast Asia Construction Equipment Market Poised for Remarkable Expansion, the Sales to Reach 97,452 Units by 2029 - Arizton

Arizton Advisory & Intelligence United Kingdom United States of America

will grow at a CAGR of 4.69% from 2023-2029.

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Southeast Asia Construction Equipment Market Scope

Report Attributes

Details

Market Size- Volume (2029)

97,452 Units

Market Size- Volume (2023)

74,025 Units

CAGR- Volume (2023-2029)

4.69 %

Market Size- Revenue (2029)

USD 9.1 Billion

Historic Year

2020-2022

Base Year

2023

Forecast Year

2024-2029

Equipment Type

Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment

End-Users

Construction, Mining, Manufacturing, and Others

Market Dynamics

•  Surge in Investment in the Construction Industry

•  High Expenditure in Green Hydrogen Projects

•  Prominent Mining Sector in the Region

Governments invest in construction projects in major Southeast Asian countries, such as Indonesia, Malaysia, and Singapore. The Penang Transport Master Plan, MRT Circle development project, and Sarawak-Sabah Link Road project in Malaysia are some significant projects. Governments are also focusing on mining projects in Indonesia and Thailand. Southeast Asian countries, such as Indonesia, Thailand, and Malaysia, primarily invest in the mining of tin, nickel, cobalt, and bauxite in response to the rise in the global demand for electric construction equipment. Indonesia has the largest nickel reserve in the world and possesses 21 million tons of nickel reserves, according to Indonesia's Investment Coordinating Board, 2022. Investments in construction and mining projects across Southeast Asian countries are expected to drive the demand for earthmoving equipment.

High Demand for Rental Construction Equipment to Hinder the Southeast Asia Construction Equipment Market Growth

The global pandemic and geopolitical crises have resulted in supply chain disruptions for construction equipment manufacturing, ultimately driving prices upwards. For example, the semiconductor chips required for equipment engines have recently risen manifold times.The price of some microcontroller chips in Malaysia has increased by approximately 400% in 2022. Additionally, chip manufacturing costs in Singapore increased by 20% in 2022.Other raw materials, such as prices of steel, have also magnified. The cost of iron ore and choking coal, key inputs in steel production, has also risen.

Vendor Insights

Caterpillar, Komatsu, Liebherr, Volvo CE, Hitachi Construction Machinery, Zoomlion, XCMG, and SANY are leaders in the Southeast Asia construction equipment market. These companies have a strong market share and offer diverse sets of equipment.Liugong, Terex, Toyota Material Handling, JCB, Manitou, Yanmar, and Takeuchi are niche players in the Southeast Asia construction equipment market. These companies offer low product diversification and have a strong presence in Southeast Asia's local market.Kubota, Kobelco, Sumitomo, HD Hyundai Construction Equipment, and DEVELON are emerging. These companies are introducing new technologically advanced products to challenge the share of Southeast Asia construction equipment market leaders in the region.Sunward, Tadano, Haulotte, Kato Works Co. Ltd., AUSA, Merlo Spa, CNH Industrial, Shantui, Bobcat, and Ammann have low product diversification in the Southeast Asia construction equipment market; these companies are lagging in adopting new technologies used in construction equipment.In Jan 2023, Kobelco Construction Machinery stated the sales of the TK750GLB crawler crane with a maximum lifting capacity of 75 tons. With a maximum length of 35.0 m for the boom, the TK750GLB surpasses the preceding model TK750G by 5 m in lifting height and 2 m in operating radius, resulting in a 2.7 t increase in lifting capacity with the basic boom specification.

What's Included in the Report:

Impact of COVID-19CAGR for the forecast period 2023-2029All construction equipment types include earthmoving, road building, and material handling.Construction equipment used by end users, such as construction, mining, warehouse & transport, and other industries.Volume and Value within countries are based on domestic demand and supply.Construction equipment imported from other countries (excluding used equipment).The Construction equipment market includes only new equipment unless we have provided a used/lease/rental market separately.All currency conversions are in USD unless specifically stated.The volume market signifies Unit Sales and is in absolute numbers, and the value market signifies US $ millions unless specifically mentioned.Global and regional manufacturers have a significant presence in the region/country, and domestic manufacturers are considered for evaluations in vendor capability matrix.Companies' functional capabilities, such as regional revenue, segment revenue, distribution status, mergers & acquisition, brand positioning, and operational capabilities, such as product launches, production capacity, technology adoption, and promotional strategies, were collected through secondary research and mapped in four quadrants to position them as front runner, straggler, emerger, and nicher.

Southeast Asia Construction Equipment Market Dynamics

Drivers

Surge in Investment in the Construction IndustryHigh Expenditure in Green Hydrogen ProjectsProminent Mining Sector in the Region

Trends

Rise in Investment in Renewable Energy SectorRising Focus on Compact & Electric Construction EquipmentRise in Waste-to-Energy Projects

Challenges

Skilled Labor ShortageRising Construction CostsHigh Demand for Rental Construction Equipment

Opportunities

Increasing investments to achieve net-zero emission by 2050Significant investments in R&DIncorporation of Smart Technology

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Key Vendors

CaterpillarHitachi Construction MachineryKomatsuLiebherrVolvo Construction Equipment KobelcoKubotaZoomlion Heavy Industry Science & Technology Co., Ltd.SANYXuzhou Construction Machinery Group (XCMG)Hyundai Construction EquipmentSUMITOMO CONSTRUCTION MACHINERY CO., LTD.DevelonJCBYanmarTadanoTakeuchi ManufacturingManitouToyota Material HandlingAUSAKATO WORKS CO., LTD.HaulotteMERLO S.p.A.BobcatTerex CorporationLiuGongCNH IndustrialSunward Intelligent Equipment GroupShantui Construction Machinery Co., Ltd.AMMANN

Distributor Profiles

Sia & Yeo Heavy Equipment Pte LtdTIONG LEE HUAT MACHINERY & CONSTRUCTION PTE LTDPLS MACHINERY PTE LTDRiconLAND EQUIPMENT PTE LTDItalthai IndustrialLeadway Heavy Machinery Co., Ltd.Ariya GroupParagon MachineryPT Indotruck UtamaUnited TractorsMulticrane PerkasaPT Airindo SaktiSIN LOY HENG Engineering Sdn BhdUM Construction Equipment Sdn BhdTopspot Heavy Equipment Inc.BinhLoi CO.,LTD

Market Segmentation

Type

Earthmoving EquipmentExcavatorBackhoe LoadersWheeled LoadersOther Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)Road Construction EquipmentRoad RollersAsphalt PaversMaterial Handling EquipmentCraneForklift & Telescopic HandlersAerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)Other Construction EquipmentDumperTipperConcrete MixerConcrete Pump TruckEnd UsersConstructionMiningManufacturingOthers (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)RegionIndonesiaThailandPhilippinesMalaysiaSingaporeRest of Southeast Asia

Key Questions Answered in the Report:

How big is the Southeast Asia construction equipment market?

What is the growth rate of the Southeast Asia construction equipment market?

Who are the key players in the Southeast Asia construction equipment market?

What are the trends in the Southeast Asia construction equipment market?

Which are the major distributor companies in the Southeast Asia construction equipment market?

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