DUBLIN–(BUSINESS WIRE)–The “Japan Construction Equipment Market – Strategic Assessment & Forecast 2024-2029” report has been added to ResearchAndMarkets.com’s offering.
The Japanese construction equipment market is expected to witness substantial growth, reaching approximately 156,791 units by 2029. This growth is spurred by a compound annual growth rate (CAGR) of 4.24% during the forecast period. This trend correlates with increased public infrastructure investments, with the government earmarking significant funds towards economic recovery and public infrastructure enhancement.
Key Projects Underpinning the Market Expansion
Notable projects contributing to the market’s expansion include the Nihonbashi 1-Chome Central District Urban Redevelopment Project and flood control undertakings in Settsu City and the Kinki region. Additionally, the government has initiated multiple renovation projects targeting bridges, tunnels, and roads nationwide. The investment in Tokyo’s redevelopment and urban planning further stimulates market growth, alongside preparations for the highly anticipated 2025 Osaka Kansai Expo project.
Earthmoving Equipment Leads the Market
In 2023, the earthmoving equipment segment, particularly excavators, has garnered the largest market share within the Japanese construction equipment market. Infrastructure projects related to port expansions and public works are significant demand drivers for this segment.
Emerging Trends and Market Drivers
Japan’s focus on integrating hydrogen fuel to meet net zero emissions targets, investments in smart city projects, and the adoption of Building Information Modeling (BIM) technology are major trends bolstering market growth. Moreover, construction efforts in preparation for EXPO 2025 and robust investments in renewable energy are driving demand for construction equipment in Japan.
Increasing Logistics and Warehousing Industry Needs
The logistics and warehousing industry’s growth is expected to boost the sale of material handling equipment. Major investments by companies like Amazon and ESR in distribution facilities highlight the strong momentum in this sector.
Challenges in the Market Landscape
The Japanese construction equipment market faces hurdles including a rapidly aging population leading to labor shortages and potential delays in construction activities. Additionally, the recent power crises have prompted new project tenders to be delayed or restricted, while an uptick in mortgage rates could impede the growth of the residential sector.
Key Players and Market Dynamics
Leading companies such as Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, Kubota, and Kobelco hold commanding market shares, offering a diverse range of equipment. Niche players also maintain a strong local presence, contributing to the market’s competitive landscape.
Insights into Opportunities and Market Restraints
Potential opportunities arise with the nation’s investments in infrastructure renovation and clean energy projects. However, challenges like the labor shortage and increasing costs of materials due to global economic conditions pose restraints for market development.
Conclusion
The Japanese construction equipment market is poised for growth in alignment with the country’s increased focus on infrastructure enhancements and renewable energy projects. The presence of major industry players, alongside various large-scale developmental projects, positions the market on a trajectory of sustained growth through to 2029.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value in 2023 | 122217 Units |
| Forecasted Market Value by 2029 | 156791 Units |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Japan |
A selection of companies mentioned in this report includes, but is not limited to:
For more information about this report visit https://www.researchandmarkets.com/r/qozeu2
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