According to Coherent Market Insights, the global construction market is expected to grow at a CAGR of more than 3% over the forecast period, owing to rapid infrastructure development in major economies such as the Middle East and emerging economies in the Asia Pacific such as India, Malaysia, and Indonesia. Furthermore, proliferating smart city projects, government initiatives aimed at providing housing to the middle and lower economic classes, and the need to improve transportation facilities in order to boost the country's trade avenues are expected to present strong growth prospects for the construction dumper market over the forecast period.
Construction dumpers are commonly used to move loose materials such as gravel, sand, aggregates, and other similar materials and equipment. It comprises of an open bed box at the back of the vehicle with a hydraulic piston to raise the trailer or hauler for dumping the material at the appropriate area. Several reasons, such as the expansion of infrastructure operations, the expansion of the rental equipment business, smart city infrastructure demands, and the changing regulatory landscape for emission requirements, are likely to drive industry growth throughout the projection timeframe.
For example, a white paper titled "Evolution of Smart Cities and Connected Communities" published by Government Technology and co-sponsored by the United Parcel Service (UPS) and the Consumer Technology Association reported the development of approximately 600 smart city projects in India and approximately 285 similar projects in China. Interest subsidies for first-time home purchasers in India and government programs in the United Kingdom to assist build new homes on brownfield sites are just a few examples of how the residential sector is growing. These are only a few of the numerous variables that will drive infrastructure demand, and hence the construction dumper industry.
Posts
0 Comments