Hyderabad, July 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Australia Construction Machinery Market Report (2023-2028)," the market is estimated at USD 2.70 billion in 2023. It is expected to register a CAGR of 3.35% during the forecast period.
The Australian government is spending heavily on construction and infrastructure to boost the country's economy, which is anticipated to create long-term demand for construction machinery in the region. The demand for advanced technology in construction machinery is growing. Autonomous equipment and durable machinery are key developments in the sector. New South Wales, Victoria, and Queensland regions are witnessing positive trends in the construction market, attracting investments from key players.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 2.70 billion |
| Market Size (2028) | USD 3.18 billion |
| CAGR (2023-2028) | 3.35% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Government initiatives to boost construction. |
| Technological advancements in construction machinery. |
Who are the Top Companies in the Australia Construction Machinery Market?
The market is moderately consolidated and dominated by major companies, such as Komatsu, Caterpillar Inc., John Deere & Co., XCMG, and Hitachi. The major players in the market are focusing on improving their product portfolios and expanding their presence in the market through acquisitions, mergers, and collaborations with other companies.
The significant players in the Australian construction machinery market are,
- Yanmar Construction Equipment Co. Ltd
- Caterpillar Inc.
- CNH Australia
- Doosan Infracore Ltd
- Hitachi Construction Machinery Co. Ltd
- JCB Construction Equipment Australia
- John Deere & Co.
- Kobelco Construction Machinery Co. Ltd
- Komatsu Ltd
- Liebherr International
- Manitou BF SA
- Volvo Construction Equipment
- Wacker Neuson
- Sumitomo Corporation
- XCMG Group
- Sany Group
- Shandong Lin Gong Construction Machinery
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Key Highlights from the Australia Construction Machinery Market Report:
Rising Infrastructure and Construction Activities
- The Australian government and private players are driving the demand for construction machinery and equipment in the country with increased spending on infrastructure development.
- Residential building construction activity in Australia is witnessing gradual growth, offering significant revenue opportunities.
- The construction sector is also attracting foreign direct investments.
Increased Need for Dump Trucks
- Automation of dump trucks is a continuing trend to ensure safety and operating efficiency, especially in the mining industry. They are available in various sizes to meet capacity and load requirements.
- Dump trucks are expected to hold a significant market share in the Australian construction machinery market. Manufacturers are launching new products in response to the rising demand.
- Stringent emission standards in the country are encouraging players to introduce electric dump trucks.
What are the Latest Developments in the Australia Construction Machinery Market?
- In September 2022, Doosan unveiled its DA45-7 ADT 44 articulated dump truck (ADT) to compete with rigid dump trucks (RDTs) in the 40-tonne class.
- In June 2022, ARX Construction and Mining Equipment chose EXCON 2022 to debut motor graders G3200 and G1000 and the Blast Hole Drill Rig D3300.
Mordor Intelligence has Segmented the Australia Construction Machinery Market Based on Application Type and Machinery Type.
- By Application Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Material Handling
- Earth Moving
- Transportation
- By Machinery Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hydraulic Excavators
- Wheel Loaders
- Crawler Trucks
- Dump Trucks
- Motor Graders
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Australia Construction Machinery Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Europe Construction Machinery Rental Market Report - The European construction machinery rental market size is expected to grow from USD 31,950.86 million in 2023 to USD 41,070.40 million by 2028, at a CAGR of 5.15% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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