(Australia-NewsWire.Com, September 06, 2021 ) The upcoming infrastructural projects and increased government spending have led to an increase in construction activities. Additionally, with the advancements in technology, the equipment have become more fuel-efficient with lower emission levels and have enhanced safety and better-handling features.
Road roller is estimated to be the fastest growing equipment. Its increasing use can be attributed to the increasing need for roads in developing countries such as India and China along with major road development projects such as China–Pakistan Economic Corridor (CPEC), which aims to connect China with Central Asia and create a modern silk route.
The tier-5 emission regulation engines are projected to have the largest share in the construction equipment market. The countries in North America such as Canada, the US, and Mexico are speculated to have enforced these regulations by 2025. Additionally it is speculated that Japan will also follow these regulations once they are in effect.
The earthmoving equipment category is estimated to be the largest segment of the market. A majority of construction equipment are used to carry, dig, spread, or move earth or materials. The material-handling equipment category is the fastest-growing segment as these equipment provide protection for materials, goods, and products in the process of manufacturing, distribution, consumption, and disposal.
Selective Catalytic Reduction (SCR) is projected to be the largest segment of the construction equipment market by after treatment devices. This is due to the stringent emission regulations that are speculated to be implemented in the Asia Pacific region.
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