The construction industry is a booming market worldwide. This industry has witnessed significant growth, particularly in the developing nations as the improving economy in these regions propels the market. The continuation of the development process especially in the developing countries will result in significant growth of this industry over the next forecast years. The growth of this industry share has witnessed immense rise in the sale of aftermarket parts for the construction industry.
The Global Aftermarket parts in construction industry market have been segmented based on end use application and product verticals as well as by geography. The market has been segmented based on end use verticals into Heavy Earthmoving, Light Earthmoving, Lifting & Material Handling, Drilling & Trenching, Trucking & Hauling, Light Equipment, Paving & Compacting and Ancillary, followed by components turbocharger, starter motor.
The market has also been segmented based on product verticals into Backhoe Parts, Dozer Parts, Excavator Parts, Axle Components, Hydraulic Pumps, Cooling Systems, Accessories, Electrical Systems, Diesel Engine Components, Filtration and Exhaust, Fuel Systems, Hardware and Fasteners, Long and Short Blocks, Pumps, Powertrain Components, Sealing Solutions, Undercarriage and Braking Components.
The growing heavy machinery market will be the major driver for this industry in the future. The Construction Aftermarket Parts Market size is estimated to be around $XX billion in 2017 and is growing at a CAGR of X% during the forecast period through 2025. The increasing demand for earthmoving equipment will propel the market growth.
This report presents a wide overview on market shares, and growth opportunities of by product or part type, by components, by end-use industries, key manufacturers and key regions. The research report analyzes, APAC currently accounts for the largest market followed by Americas in the construction industry. The growing infrastructure development is the trend in APAC region will propel the aftermarket parts industry. The improving economies in South America, particularly Brazil, will also lead to a growing market. The growing utilization of vehicles in the construction industry has led to a rising market for automotive aftermarket parts in this industry.
Sample Companies Profiled in this Report are:
- Caterpillar (CAT)
- Volvo CE
- 15+ Other companies are profiled
The report also has a deep analysis of these companies focused on the development and launch of new aftermarket parts in order to capture the growing market.