DUBLIN--(BUSINESS WIRE)--The "Vietnam Construction Equipment Market - Strategic Assessment & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The report considers the present scenario of the Vietnam construction equipment market and market dynamics for the forecast period 2022-2028.
It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the Vietnam construction equipment market.
Vietnam construction equipment market is expected to grow at a CAGR of 5.88% during 2022-2028
Key Points
- In 2021, Vietnam government planned to invest $480 billion till 2030 for upgrading infrastructure, including 11 power plants, new highways, and roadways. Ministry of transport Vietnam drafted road & highways construction plan in 2021. The department aimed to connect all highways to main political centers, key economic regions, seaports, and international airports. In addition to it ~5,000 kilometers of highways construction were planned.
- The government had also planned to invest ~65 billion for road infrastructure by 2030. 48% of total transport industry investment is planned for development of road network by 2030. Major road construction projects such as North- South Express ($18.5 billion), The long Thanh Airport ($16 billion), Ho Chi Minh City Metro ($6.2 billion), Hanoi Ring Road ($368 million), Hai Van Tunnel 2 ($312 million) & Lien Chieu Port Da Nang ($147 million) are under progress in 2022.
- The demand for housing in Bao Loc, Dalat, and Ho Tram regions witnessed especially post pandemic. FDI inflow in country's real estate industry accounted for 11% of total FDI inflows for the year 2021.The government initiatives of loosening the housing laws under national housing development plan 2021-2030 is expected to support the demand for housing in the country.
- Depletion of mining resources, declining oil & gas production and rising building material prices are major challenges to Vietnamese economy.
Market Segmentation
- The material handling segment accounts for the largest Vietnam construction equipment market share. Due to manufacturing and construction industry growth, forklift accounts for the largest market share in the material handling segment.
- The earthmoving segment is the second-largest second after material handling. Backhoe loaders are popular due to their extensive use in civil work and urban development projects in Ho Chi Minh City and Hanoi. Backhoe loaders provide flexible operation facilities on muddy and uneven terrain, making them more popular than excavators in the Vietnam earthmoving equipment segment.
By Type
- Earthmoving Equipment
- Excavator
- Backhoe Loader
- Motor Grader
- Other earthmoving Equipment
- Material Handling Equipment
- Crane
- Forklift and Telescopic Handler
- Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc.)
- Road Construction Equipment
- Asphalt Paver
- Road Roller
By Application
- Construction
- Manufacturing
- Mining
- Others
Vendor Analysis
Komatsu, Hyundai Doosan Infracore, XCMG & Caterpillar accounts for 46% of market share in Vietnam.
Key Vendors
- Komatsu
- Hyundai Doosan Infracore
- Caterpillar
- XCMG
- Volvo
- Sany
- Liebherr
Other Prominent Vendors
- Kobelco
- Terex corporation
- Zoomlion Heavy Industry
- Hitachi Construction machinery
Distributors Profile
- CONSTRUCTION MACHINERY HOANG GIA
- BIN LOI CO., LTD
- TROUNG PHAT IMPORT EXPORT INVESTMENT SERVICE COMPANY LIMITED
- T&C Machine and Repair
- Vietserve Technology Limited
For more information about this report visit https://www.researchandmarkets.com/r/4nq2nv
