Japan Construction Equipment Market to be dominated by Oil & Gas industry till FY2027
Growing demand for increased productivity and rise in
government focus for capital investments are driving the growth of Japan Construction
Equipment Market in the forecast period, FY2023-FY2027.
According
to TechSci Research report, “Japan Construction Equipment Market By Type (Loader,
Cranes, Forklift, Excavator, Dozers, Others), By Power Output (<100 Hp,
101-200 Hp, 201-400 Hp, >400 Hp), By Application (Material
Handling, Excavation & Demolition, Recycling & Waste Management,
Tunneling, Others), By End User Industry (Oil & Gas, Construction,
Infrastructure, Manufacturing, Others), By Region, Competition Forecast &
Opportunities, FY2027”,
the Japan Construction Equipment market is anticipated to witness significant
growth in the forecast period, FY2023-FY2027. The increasing demand for
cost-effective and highly efficient Construction Equipment with low emission
rates makes the market players adopt advanced Construction Equipment instead of
conventional Construction Equipment.
The
growing development and the rising consumer awareness towards the benefits of
using rental Construction Equipment are expected to influence the Construction
Equipment demand. Contractors and operators prefer to use the Construction
Equipment to eliminate the need for high initial capital investment and
equipment maintenance costs. Rental market players are offering the Construction
Equipment along with the professional operators, which is expected to ease the
process of construction activity.
However,
labor shortage and the high average age of laborers hinder the construction
industry, which may also restrain the Japan Construction Equipment market
growth in the forecast period.
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The
Japan Construction Equipment market is segmented into type, power output, application,
end user industry, regional distribution, and competition landscape.
On the basis of type, the Japan Construction
Equipment market is divided into loader, cranes, forklift, excavator, dozers,
and others. The loader segment is expected to hold the largest market share
during the forecast period, FY2023-FY2027. Loades are primarily used for
loading and unloading and for bulk construction material movement. Loaders are
generally used for large-scale infrastructure development projects such as
railways, airports, ports, highways, etc. The leading authorities undertake the
initiatives for infrastructural development and construction of residential
buildings and roads is expected to boost the demand for loaders in the forecast
period.
On the basis of power output, the Japan Construction
Equipment market is divided into <100 Hp, 101-200 Hp, 201-400 Hp, and
>400 Hp. The 101-200 Hp segment is estimated to account for a significant
market share in five years. The high demand for this power segment enables the Construction
Equipment manufacturers to improve the machine performance and lower the size
of the engine for efficient power management. Construction Equipment using this
power segment can be effective for commercial, road, and airport construction
activities. The use of 101-200 Hp leads to better utilization of Construction
Equipment by lowering maintenance costs and improving fuel management and
component layout.
On the basis of application, the Japan Construction
Equipment market is divided into material handling, excavation &
demolition, recycling & waste management, tunneling, others. The material
handling segment is anticipated to grow at a formidable rate during the
forecast period. The demand for cranes and other machinery is expected to rise
to handle heavy construction materials and products.
On the basis of end user industry, the
Japan Construction Equipment market is divided into oil & gas,
construction, infrastructure, manufacturing, and others. The oil & gas
segment is projected to dominate the market in the next five years. Japan is
dependent on the oil & gas industry as it has shut down the nuclear plants
used for energy generation. Japan imports low-sulfur crude oil, fuel oil, coal,
and natural gas at a large scale for application in various industries. The
major oil-consuming industries in the Japanese market include the
transportation sector, residential, energy generation sector, non-energy
sector, industrial and commercial sector. These industries are crucial for the
development of the country's economy.
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“Market players are adopting advanced
technologies for the development of Construction Equipment and introducing
electrical variants of existing and new products in the market, creating vast
growth opportunities for the Japan Construction Equipment market growth. Japan
is an advanced country and invests in research and development activities to
discover innovative products. Electrification of Construction Equipment and the
rising regulation on emissions make the Construction Equipment market players
come up with technologically advanced offerings. The launch of advanced Construction
Equipment products and developing construction industry is expected to propel
the Japan Construction Equipment market growth till FY2027” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
“Japan Construction
Equipment Market By Type (Loader, Cranes, Forklift, Excavator, Dozers, Others),
By Power Output (<100 Hp, 101-200 Hp, 201-400 Hp, >400 Hp), By
Application (Material Handling, Excavation & Demolition, Recycling &
Waste Management, Tunneling, Others), By End User Industry (Oil & Gas,
Construction, Infrastructure, Manufacturing, Others), By Region, Competition
Forecast & Opportunities, FY2027”, has evaluated the future
growth potential of Japan Construction Equipment and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Japan Construction Equipment market.
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