About Engineering Vehicle
Engineering vehicle are refer as the heavy-duty vehicles, which are basically designed for executing construction process that is known as Civil engineering tasks, or any other task related to earth. Such vehicle also comes under the category of military. It cab be used for many tasks related to the various activity.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 2.85% |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar (United States), Komatsu (Japan), Deere (United States), Doosan (South Korea), Volvo Construction Equipment (Sweden), Babcock Vehicle Engineering (United Kingdom), Whelen Engineering (United States), Sany (China), XCMG (China) and Hyster-Yale (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Jungheinrich and Konecranes.
Segmentation Overview
AMA Research has segmented the market of Global Engineering Vehicle market by Type (Bulldozers, Cranes, Dump Trucks and Others), Application (Building, Road, Military and Others) and Region.
On the basis of geography, the market of Engineering Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Operated, the sub-segment i.e. Internal Combustion Engine will boost the Engineering Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancements in technology
Market Growth Drivers:
Growing military related activities is driving the market of engineering vehicles. Today's military activity consts of various roles for that all in one vehicle is necessary, which can be used for numerous purposes. Examples of purposes include, Bulldozers, cranes, graders, excavators, dump trucks, Breaching vehicles, Bridging vehicles, Military ferries, amphibious crossing vehicles, and Combat Engineer Section Carriers.
Challenges:
Availability of substitute in the market
Restraints:
High cost associated with the market
Opportunities:
Growing construction sector in various developing region
Market Leaders and their expansionary development strategies
In July 2023, HCLTech acquired German automotive engineering services provider ASAP for USD 251 million and the transaction is expected to close by September 2023 subject to regulatory approvals, the IT major informed the stock exchanges.
In September 2022, The new EVR concept from Williams Advanced Engineering enables brands launched unique high-performance electric vehicles on a cost-effective platform, which features WAE’s vehicle and powertrain engineering experience in one package.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Engineering Vehicle Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.