Global Infrastructure Investments
The fastest-growing infrastructure market is in the Asian-Pacific region. But the United States will also be spending more on its infrastructure as time passes.
Increased spending on construction machinery occurs as China expands its subway system. Urban transportation projects are being planned in the region as well.
One specific project driving growth in China include its Belt and Road initiative. The initiative includes building railways, ports, and green energy projects. These projects are earmarked for expansion from west China towards Europe.
The United States government will invest over 1 trillion USD in its infrastructure. This investment is expected to occur over the next 10 years.
China’s Deregulation of Development Projects Drive Growth
The Hong Kong, Guandong, and Macao Bay area’s economic policies are development driven. Excavators and heavy construction machinery will be in high demand within those municipalities.
Real estate development drives the demand for construction equipment in this region as well.
India’s Construction Sector Boom
Real estate projects also drive demand for high-performance construction equipment in this region.
The highest CAGR will likely be observed in the Asia-Pacific region. Equipment availability will contribute to the demand for construction equipment in this region. More mobile device usage adds to the growth of this region’s construction sector. Demand within the Asia-Pacific region may thus grow faster than in North America.
Fast-paced growth within the entire global market is forecasted.
The global construction machinery telematics industry can look forward to increasing profits. There is only one wildcard in this anticipated growth. How fleet operators integrate new technology into existing business processes remains in question. Yet the demand for high-performance construction machinery will increase, regardless.