Chicago, May 17, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the Vietnam construction equipment market to grow at a CAGR of 5. 9% during 2022-2028. Several public infrastructure projects are taken up such as the particular expansion of Vietnam’s airport under the Public-Private Partnership model. The expansion project is planned for 2022, with the Vietnamese government planning to invest $11 billion in the airport growth in typically the next five years.
The construction equipment marketplace in Vietnam is expected to reach 6, 869 units by 2028. The government has plans to invest ~65 billion inside road facilities by 2030. About 48% of the total transport industry investment will be planned with regard to the development of a road network simply by 2030. Major road building projects are usually North-South Express ($18. five billion), The long Thanh Airport ($16 billion), Ho Chi Minh City Metro ($6. 2 billion), Hanoi Ring Road ($368 million), Hai Van Tunnel two ($312 million) & Lien Chieu Port Da Nang ($147 million) are under progress throughout 2022.
Vietnam Construction Equipment Market Report Scope
| REPORT ATTRIBUTES | DETAILS | |
| MARKET SIZE (2028) | $913 Million | |
| MARKET SIZE (VOLUME : 2028) | six, 869 Models | |
| CAGR | a few. 9% | |
| HISTORIC YEAR | 2019-2020 | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2028 | |
| TYPE | Earthmoving Equipment, Street Construction Gear, Material Handling Equipment | |
| END USERS | Construction, Manufacturing, Mining, and Others | |
| KEY VENDORS | Komatsu, Hyundai Doosan Infracore, Hyundai Building Equipment, Caterpillar, Xuzhou Structure Machinery Group Co. Ltd. (XCMG), Volvo Construction Products, SANY, and Liebherr | |
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The particular surge around infrastructure development projects on Ho Chi Minh City, Hanoi, plus Da Nang region expects to drive the demand for earthmoving equipment. In 2021, this government allocated $120 billion for public infrastructure advancement. The Vietnam earthmoving gear market desires to develop strongly through 2028, owing to often the rise during government investments in highway, metro, in addition to airport structure projects, and even the development of design, transportation, together with renewable energy sectors.
Key Highlights
- Vietnam development equipment market is expected to increase significantly in a CAGR associated with 6. 71% during your forecast period (2022-2028) along with high demand regarding forklifts for the material handling segment due in order to growth through manufacturing, logistics & cargo handling activities. The growth in engineering equipment is majorly driven by simply a surge in general public infrastructure investment by Government, and development in housing and renewable energy projects.
- In 2021, the Vietnam government planned to invest $480 billion dollars till 2030 for upgrading infrastructure, including 11 power plants, new highways, and additionally roadways. Ministry of Transport Vietnam drafted a street & highways construction plan in 2021. The department aimed to be able to connect all highways for you to main political centers, key economic regions, seaports, not to mention international airports. In addition to it ~5, 000 kilometers regarding highway construction were prepared.
- The need for casing in Bao Loc, Dalat, and Ho Tram regions is increasing especially post-pandemic. FDI inflow within the country’s real estate business accounted for 11% of complete FDI inflows for the year 2021. Typically the government initiatives of loosening the real estate laws underneath the national enclosure development strategy 2021-2030 are expected to support the requirement for cover in the country.
- Depletion of mining resources, declining oil & gas production and rising building materials prices usually are major challenges to the Japanese economy.
- Komatsu, Hyundai Doosan Infracore, XCMG & Caterpillar accounts for 46% from the industry share in Vietnam.
- Komatsu, Hyundai Doosan Infracore, Caterpillar, XCMG, Volvo Construction Tools, SANY, and also Liebherr are the major Vendors in Vietnam Construction Devices Market. Other Prominent Vendors are Kobelco, Terex Corporation, Zoomlion, & Hitachi Design Equipment.
Key Vendors
- Komatsu
- Hyundai Doosan Infracore
- Hyundai Construction Apparatus
- Caterpillar
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- Volvo Development Equipment
- SANY
- Liebherr
Some other Prominent Suppliers
- Kobelco
- Terex Company
- Zoomlion Heavy Industry Science & Technology Co. Limited
- Hitachi Engineering Machinery
Distributors Profiles
- Build Machinery Hoang Gia
- BIN LOI CO. LTD
- Troung Phat Import Export Investment Service Company Limited
- Vietserve Technology Limited
- T& C Machine as well as Repair
Vietnam Construction Equipment Market Record – Table involving Content
Section 1 Introduction
• Marketplace Snapshot
• Executive Summary
Section 2 This Market Overview
Economic Scenario, Foreign Direct Expense, Major Facilities Projects within Vietnam
Area 3 Vietnam Construction Machines (Type & Application)
3. 1 Vietnam Building Equipment Industry by Type (Volume & Value)
3. 1 . 1. Earth Moving Accessories
- Excavator
- Backhoe Loader
- Motor Grader
- Other Planet Moving Hardware (Other Loaders, Bulldozer, Trencher, etc. )
3. one 2. Highway Construction Appliances
- Asphalt Paver
- Path Roller
3. 1 ) 3. Material Dealing with Equipment
- Crane
- Forklift and Telescopic Handler
- Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)
3. 2 Vietnam Construction Hardware or equipment Market by means of Application (Volume & Value)
- Construction
- Mining
- Manufacturing
- Others (Power Generation and Utilities, Municipal Organization etc)
Segment 4 Market place Dynamics
Market Drivers, Restraints, Trends, Key Financial Regions inside Vietnam, Advantage Vietnam, FDI in Vietnam, Import/Export Trend Analysis, Supply chain. COVID-19 Impact
Section your five Technology Development
Advent of Technology
Part 6 Competitive Landscape
- Competitive Landscape Overview
- Major Sellers (Caterpillar | Volvo Structure Equipment| Komatsu | SANY | Zoomlion Vietnam | Liebherr | Terex Firm | Hyundai Construction Models | XCMG | Kobelco| Hyundai Doosan Infracore | Hitachi Design Equipment)
- Additional Prominent Distributors
- Distributors Profiles
Section 7 Quantitative Summary
Quantitative Overview
Section 8 Report Synopsis
1. Important Insights
- Abbreviations
- List of Graphs
- Listing of Tables
Section 9 Report Scope & Definition
- Research Methodology
- Research Objective
- Market Description, Inclusion & Exclusion
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