Japan Construction Equipment Market to be dominated by Oil & Gas industry till FY2027

Growing demand for increased productivity and rise in government focus for capital investments are driving the growth of Japan Construction Equipment Market in the forecast period, FY2023-FY2027.

According to TechSci Research report, “Japan Construction Equipment Market By Type (Loader, Cranes, Forklift, Excavator, Dozers, Others), By Power Output (<100 Hp, 101-200 Hp, 201-400 Hp, >400 Hp), By Application (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunneling, Others), By End User Industry (Oil & Gas, Construction, Infrastructure, Manufacturing, Others), By Region, Competition Forecast & Opportunities, FY2027”, the Japan Construction Equipment market is anticipated to witness significant growth in the forecast period, FY2023-FY2027. The increasing demand for cost-effective and highly efficient Construction Equipment with low emission rates makes the market players adopt advanced Construction Equipment instead of conventional Construction Equipment.

The growing development and the rising consumer awareness towards the benefits of using rental Construction Equipment are expected to influence the Construction Equipment demand. Contractors and operators prefer to use the Construction Equipment to eliminate the need for high initial capital investment and equipment maintenance costs. Rental market players are offering the Construction Equipment along with the professional operators, which is expected to ease the process of construction activity.

However, labor shortage and the high average age of laborers hinder the construction industry, which may also restrain the Japan Construction Equipment market growth in the forecast period.

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The Japan Construction Equipment market is segmented into type, power output, application, end user industry, regional distribution, and competition landscape.

On the basis of type, the Japan Construction Equipment market is divided into loader, cranes, forklift, excavator, dozers, and others. The loader segment is expected to hold the largest market share during the forecast period, FY2023-FY2027. Loades are primarily used for loading and unloading and for bulk construction material movement. Loaders are generally used for large-scale infrastructure development projects such as railways, airports, ports, highways, etc. The leading authorities undertake the initiatives for infrastructural development and construction of residential buildings and roads is expected to boost the demand for loaders in the forecast period.

On the basis of power output, the Japan Construction Equipment market is divided into <100 Hp, 101-200 Hp, 201-400 Hp, and >400 Hp. The 101-200 Hp segment is estimated to account for a significant market share in five years. The high demand for this power segment enables the Construction Equipment manufacturers to improve the machine performance and lower the size of the engine for efficient power management. Construction Equipment using this power segment can be effective for commercial, road, and airport construction activities. The use of 101-200 Hp leads to better utilization of Construction Equipment by lowering maintenance costs and improving fuel management and component layout.

On the basis of application, the Japan Construction Equipment market is divided into material handling, excavation & demolition, recycling & waste management, tunneling, others. The material handling segment is anticipated to grow at a formidable rate during the forecast period. The demand for cranes and other machinery is expected to rise to handle heavy construction materials and products.

On the basis of end user industry, the Japan Construction Equipment market is divided into oil & gas, construction, infrastructure, manufacturing, and others. The oil & gas segment is projected to dominate the market in the next five years. Japan is dependent on the oil & gas industry as it has shut down the nuclear plants used for energy generation. Japan imports low-sulfur crude oil, fuel oil, coal, and natural gas at a large scale for application in various industries. The major oil-consuming industries in the Japanese market include the transportation sector, residential, energy generation sector, non-energy sector, industrial and commercial sector. These industries are crucial for the development of the country's economy.

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“Market players are adopting advanced technologies for the development of Construction Equipment and introducing electrical variants of existing and new products in the market, creating vast growth opportunities for the Japan Construction Equipment market growth. Japan is an advanced country and invests in research and development activities to discover innovative products. Electrification of Construction Equipment and the rising regulation on emissions make the Construction Equipment market players come up with technologically advanced offerings. The launch of advanced Construction Equipment products and developing construction industry is expected to propel the Japan Construction Equipment market growth till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Japan Construction Equipment Market By Type (Loader, Cranes, Forklift, Excavator, Dozers, Others), By Power Output (<100 Hp, 101-200 Hp, 201-400 Hp, >400 Hp), By Application (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunneling, Others), By End User Industry (Oil & Gas, Construction, Infrastructure, Manufacturing, Others), By Region, Competition Forecast & Opportunities, FY2027”, has evaluated the future growth potential of Japan Construction Equipment and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Japan Construction Equipment market.

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