Market Share of Asia-Pacific Construction Equipment Industry
The Asia Pacific Construction Equipment market is moderately consolidated. The market is characterized by the presence of considerably global players as well as some local players who have secured long-term supply contracts with major infrastructure companies. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.
Some of the major players dominating the global market are Komatsu Corp., Sany Heavy Industry, XCMG, Hitachi Construction Machinery Ltd., and Hyundai Construction Equipment Ltd. . Key players are engaging in mergers and acquisitions as well as launching new products to secure their market position and stay ahead of the market curve. For instance,
- In May 2022 Caterpillar Inc. launched 303 CR mini excavators and 120 GC Motor Grader in India. These two products were displayed at the Confederation of Indian Industry (CII) EXCON 2022 in Bengaluru, along with Caterpillar's existing range of products, including excavators, motors, wheels, backhoes, and skid steer loaders.
- In January 2022 Hitachi Ltd. announced the selling of a 50% stake in Hitachi Construction Machinery Ltd. to a joint venture between Itochu Corporation and investment fund Japan Industrial Partners Inc. for JPY 182.4 billion.
Asia-Pacific Construction Equipment Market Leaders
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Komatsu Corp.
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Sany Industrial Machinery
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XCMG
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Hitachi Construction Machinery Ltd.
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Hyundai Construction Equipment Ltd.
*Disclaimer: Major Players sorted in no particular order
