Vietnam Construction Equipment Market (2024-2030) | Companies, Revenue, Forecast, Growth, Value, Share, Trends, Outlook, Size, Industry & Analysis

Topics Covered in Vietnam Construction Equipment Market Report

The Vietnam construction equipment market report thoroughly covers the market by types, and applications. Vietnam construction equipment market outlook report provides an unbiased and detailed analysis of the on-going Vietnam construction equipment market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Construction Equipment Market Synopsis

Vietnam construction equipment market has witnessed growth over the past few years primarily due to the transformation of the economy towards a developing country as well as growing construction and infrastructural development projects in the country. This market is also facing some challenges that can hamper its growth in the near future.

According to 6Wresearch, Vietnam Construction Equipment Market size is anticipated to rise at a CAGR of 9.8% from 2024-2030. The construction equipment market in Vietnam is growing due to various factors. The rise in construction activities in Vietnam is driving the market. The construction of infrastructure, such as highways, bridges, and airways, is one of the significant drivers of the construction equipment market. The development of real estate, including residential, commercial, and industrial properties, is also driving the construction equipment market in Vietnam. Lastly, the growing demand for energy and power infrastructure is also a significant driver of the construction equipment market.

Although the construction equipment market in Vietnam is growing, there are several challenges that companies in the market face. One significant challenge is the lack of skilled labor in the country, which can limit the demand for construction equipment. Additionally, the high import taxes for construction equipment in Vietnam can make it challenging for foreign companies to compete with local companies. Lastly, the lack of financing options is also a hurdle for companies in the construction equipment market.

Vietnam Construction Equipment Industry: Leading Players

The Vietnam construction equipment market has both local and foreign players. Some of the key players in the market include Hitachi Construction Machinery, Komatsu, Caterpillar, Hyundai Construction Equipment, JCB, and Sany Heavy Industry Company. These companies are working towards expanding their presence in Vietnam by introducing new and innovative construction equipment. They also offer a diverse range of rental and leasing options for construction equipment.

Construction Equipment Market in Vietnam: Government Initiatives

The government of Vietnam has taken several initiatives to promote the construction equipment market in the country. The government has reduced import taxes for construction equipment to attract foreign companies to invest in the country. Additionally, the government has launched various infrastructure development projects, such as the North-South High-Speed Railway and the Long Thanh International Airport, to foster the growth of the construction industry. Lastly, the government has introduced various training programs to develop skilled labor in the construction industry.

Market Segmentation by Types

According to Parth, Senior Research Analyst, 6Wresearch, in terms of types, earthmoving equipment leads to the overall Vietnam construction equipment market primarily due to growing public infrastructure facilities in the country. Additionally, cranes and material handling equipment are also recording growth in the country.

Market Segmentation by Application

The corporate enterprise segment is growing with the increase in the population and an influx of foreign investment. The oil and gas segment is also expanding with increasing oil production.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Construction Equipment Market Outlook
• Market Size of Vietnam Construction Equipment Market, 2023
• Forecast of Vietnam Construction Equipment Market, 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues & Volume for the Period 2020 - 2030
• Vietnam Construction Equipment Market Trend Evolution
• Vietnam Construction Equipment Market Drivers and Challenges
• Vietnam Construction Equipment Price Trends
• Vietnam Construction Equipment Porter's Five Forces
• Vietnam Construction Equipment Industry Life Cycle
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Type for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and Volume by Cranes for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Construction Tractor and Bulldozer for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Earthmoving Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Aerial Work Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Material Handling Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Dump Trucks for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Road Construction Equipment for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Application for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Corporate Enterprise for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Oil and Gas for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Mining for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Equipment Market Revenues and volume by Others for the Period 2020 - 2030
• Vietnam Construction Equipment Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Vietnam Construction Equipment Top Companies Market Share
• Vietnam Construction Equipment Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Construction Equipment Company Profiles
• Vietnam Construction Equipment Key Strategic Recommendation

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types:

• Mobile Cranes
• Construction Tractor and Bulldozer
• Earthmoving Equipment
• Aerial Work Equipment
• Material Handling Equipment
• Dump Trucks
• Road Construction Equipment

By Applications:

• Corporate Enterprise
• Oil and Gas
• Mining
• Others (Municipality and Road Construction)