LeapZipBlog: Steve Blade's blog: Construction Equipment Repair and Maintenance Services Market Insights Focusing on Primary Trends until 2029

Construction Equipment Repair and Maintenance Services Market Insights Focusing on Primary Trends until 2029

August 19, 2019 by Steve Blade  

With the advent of heavy construction equipment and the approach of construction companies to adopt more mechanized equipment and in turn an organized sector has made it mandatory for maintaining the fleet of equipment to perform to its optimum resulting in the growth of Construction Equipment Repair and Maintenance Services Market. The Construction Equipment Repair and Maintenance Services includes services for earthmoving equipment, excavation equipment, and compactors. General-purpose of most of the construction equipment is to excavate but other than that they are also used for many purposes like heavy lifting, demolition, cutting of trees, river dredging etc.

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The boom in infrastructure, housing construction, and mining are the primary drivers attributing to the demand for construction equipment repair and maintenance services. Besides, the global Construction equipment repair and maintenance services market has witnessed healthy growth over the past decade; nonetheless, market conditions have become tougher recently. Construction equipment repair and maintenance services may be calibrated to optimize uptime during operating hours and, consequently, keep service costs low.

Apart from this, in the short term, the construction equipment repair and maintenance services market will see a bit of a slowdown in the further expansion of new or emerging players. The construction equipment repair and maintenance market is currently in the midst of considerable change. Among other things, demand for construction equipment has been highly volatile and is currently weak, customer landscape and expectations on the OEMs are changing, new and potentially revolutionary technologies are coming, and competitors from emerging markets are getting stronger.  Additionally, outsourcing of construction equipment maintenance and repair, also bring OEMs, dealers, and customers closer together.

Subsequently, the study aims to analyze the most recent trends, dynamics, and potential strategies in the global Construction Equipment Repair and Maintenance Services market.

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Heavy and Light construction equipment repair and maintenance services are expected to maintain the same proportion of the total industry over the forthcoming years. Among heavy construction equipment repair and maintenance services, wheel loaders are foreseen to witness a substantial growth rate. Whereas, among light constriction equipment, mini excavators expected to maintain a sustained growth rate. In Europe, construction equipment repair and maintenance services are expected to grow notably, which was driven by booming demand from the German residential construction sector.

Furthermore, the companies involved in construction equipment repair and maintenance services are reinforcing their services for emerging markets such as Latin America and India. Projects pertaining the road development, infrastructure development, new airports, irrigation, urban infrastructure etc. are the main boosting agents for the construction equipment repair and maintenance services market. Moreover, inefficient availability of financing options, poor uptime of construction equipment repair and maintenance services, lack of government support, and meagerly penetrated leasing or rental market to curtail the market growth. One of the most cited and prolific trends in the market is that OEMs are gradually increasing their focus on construction equipment repair and maintenance market, and will lead to the market becoming more competitive.

Global Construction Equipment Repair and Maintenance Services Market: Regional Outlook

Construction equipment repair and maintenance services market growth is mainly driven by Asia Pacific and North America. In addition, Africa and the Middle East are expected with higher growth rate. China is expected to be largely driven by heavy construction equipment repair and maintenance services demand; however, light construction equipment repair and maintenance services to gain prominence in Europe over the coming years.  Further, Europe and Latin America are anticipated to experience low growth rate in the construction equipment repair and maintenance Services market. Most of the regional construction equipment repair and maintenance services markets are expected to see growth in the coming years, but the key driver will be China. Lastly, among ASEAN countries - Indonesia and Vietnam are expected to continue growing due to rising urbanization and disposable incomes, bolstering the demand for construction equipment repair and maintenance services in the foreseeable future. 

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