APAC Construction Equipment Market
Contents |
[edit] Introduction
The Asia Pacific construction equipment market is primed to consolidate as a lucrative investment on a global scale, fueled by numerous technological advancements such as automated machine function, intelligent machine parts integration and enhanced ropes.
Owing to rising labor costs as well as the ageing population across a number of Asian nations, the construction industry is shifting more towards enhanced construction machinery that comes with technologically-advanced features, enabling the market to register an enhanced growth rate. Moreover, attributing to several labor safety problems as well as accidents, construction companies have started to invest more in modern equipment, further propelling the expansion of the APAC construction equipment industry.
Owing to the presence of a plethora of key equipment manufacturers that are known for supplying products to construction industries across the world, countries such as Japan, China and South Korea are witnessing a rise in equipment and machinery production as well as consumption. In the years ahead, these companies are likely to increase their investments and enhance their product portfolios, further supporting the regional expansion.
[edit] Impact of India’s expanding construction industry
The growing efforts for the upgrading of infrastructure across India has had a dramatic impact on the nation’s construction industry in the last decade. The construction industry’s influence spans numerous sub-sectors of the country’s economy, thus becoming one of the primary drivers of its socioeconomic development. Today, the Indian sub-continent is one of the world’s six fastest growing economies, making it the largest hub for infrastructure and construction investments in Asia. In the years to come, the APAC construction equipment market is expected to genearte a large proportion of its revenue from India.
The Indian construction equipment industry is also expected to benefit from the nation’s ongoing efforts to construct a greener residential sector. According to the World Green Building Council, since the India Green Building Council rolled out the nation’s Green Homes Rating program in 2008, over 1.5 billion sq. feet of green building space has been sanctioned for development, which is equivalent to approximately 1,800 projects or more than 1,300,000 dwelling units. Approximately 500 of the nation’s prominent real-estate developers have now adopted the Green Homes Rating with projects across 175 cities and towns in India.
The APAC construction equipment market is also expected to witness sizable growth in India due to a number of government initiatives. India’s Ministry of Housing and Urban Poverty Alleviation (MoHUPA) recently estimated that there was a housing shortage of approximately 18.78 million in the country’s 12th FYP (Five Year Plan) period with 95% of the shortage coming from the economically weaker nations as well as low-income sections of society. The Government of India intends to tackle this issue by 2022 through its Housing for All initiative by constructing well-planned, low-cost and environmentally friendly housing projects for these sectors. This massive initiative will be a major driver for growth of the APAC construction equipment market.
[edit] Impact of Australia’s building & infrastructure upgradation activities
Australia’s independent infrastructure advisory body Infrastructure Australia, has released a report that identifies the nation’s top projects shaping the country’s growth, while also declaring which of those projects would be receiving its financial backing. With the country’s population expected to hit 12 million by 2050, the demand for housing is expected to surge in the years ahead. This will augment the regional construction industry, and propel the APAC construction equipment market.
In Australia’s 2018-19 budget, the government allocated over $75 billion for a 10-year-long national infrastructure upgrade plan which aims to improve the country’s road safety, deliver essential rail links and tackle congestion. This move is also expected to ensure sizable growth for the region’s construction equipment market.
To serve Australia’s rapidly rising population, the government is also planning a plethora of new infrastructure projects such as housing construction, railways, airports, etc. As a result, the nation is expected to see high demand for machinery, driving the regional construction equipment industry. APAC construction equipment market is anticipated to register a CAGR of 6% over 2019-2025, surpassing the $80 billion mark by 2025.
Source: https://www.fractovia.org/news/industry-research-report/apac-construction-equipment-market
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
The UK's Modern Industrial Strategy: A 10 year plan
Previous consultation criticism, current key elements and general support with some persisting reservations.
Building Safety Regulator reforms
New roles, new staff and a new fast track service pave the way for a single construction regulator.
Architectural Technologist CPDs and Communications
CIAT CPD… and how you can do it!
Cooling centres and cool spaces
Managing extreme heat in cities by directing the public to places for heat stress relief and water sources.
Winter gardens: A brief history and warm variations
Extending the season with glass in different forms and terms.
Restoring Great Yarmouth's Winter Gardens
Transforming one of the least sustainable constructions imaginable.
Construction Skills Mission Board launch sector drive
Newly formed government and industry collaboration set strategy for recruiting an additional 100,000 construction workers a year.
New Architects Code comes into effect in September 2025
ARB Architects Code of Conduct and Practice available with ongoing consultation regarding guidance.
Welsh Skills Body (Medr) launches ambitious plan
The new skills body brings together funding and regulation of tertiary education and research for the devolved nation.
Paul Gandy FCIOB announced as next CIOB President
Former Tilbury Douglas CEO takes helm.
UK Infrastructure: A 10 Year Strategy. In brief with reactions
With the National Infrastructure and Service Transformation Authority (NISTA).
Ebenezer Howard: inventor of the garden city. Book review.
The Grenfell Tower fire, eight years on
A time to pause and reflect as Dubai tower block fire reported just before anniversary.
Airtightness Topic Guide BSRIA TG 27/2025
Explaining the basics of airtightness, what it is, why it's important, when it's required and how it's carried out.
Construction contract awards hit lowest point of 2025
Plummeting for second consecutive month, intensifying concerns for housing and infrastructure goals.
Understanding Mental Health in the Built Environment 2025
Examining the state of mental health in construction, shedding light on levels of stress, anxiety and depression.