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Increasing demand of heavy construction machinery in construction and manufacturing sectors would boost the growth of the excavator segment. Earthmoving segment accounted for around 45% share of the global market in 2015 owing to the increased use of these equipment in mining sector. This segment is estimated to witness significant growth during the forecast period due to increasing construction activities in residential sector, construction of roads, healthcare centers, and educational institutes. Increasing use of equipment in sectors such as construction, underground mining, and surface mining contributes to the market growth.

"The heavy construction equipment market is expected to grow due to increasing demand for leased and rented construction equipment by low- and mid-sized construction companies. The development of new earthmoving equipment offering reduced operating costs, connect technology, and safety features are expected to have substantial impact on the market growth. European decision makers have invested in the building and construction industries to facilitate gradual improvement in this sector and boost the market for new constructions; thereby fueling the growth of the heavy construction equipment market" as stated by Eisha Sukhija (Research Analyst), Construction Equipment Research Domain, AMR.

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