Asia-Pacific region to lead in recovery, but strong growth expected in most markets
Williamstown, MA -- (ReleaseWire) -- 11/03/2011 --After the global financial crisis and subsequent lack of construction activity had a significant negative impact on the construction trucks market, the outlook from 2011 to 2015 (the forecast period) is substantially more promising due to the gradual economic recovery of North American and European countries hit by the recession, the rapid growth of the Asia-Pacific market and the increase in infrastructure construction activity in South America, according to a report by ICD research.
Asia-Pacific becomes world's consumer of construction trucks
Increasing its market share from approximately 28% in 2006 to just over 45% in 2010, Asia-Pacific became the industry’s largest consumption market with a consumption value of over US$4 billion in 2010. This growth was supported by new infrastructure projects in China, Indonesia and India, required in order to support their rapidly growing populations, urbanization, manufacturing and service industries, which increased the consumption of construction trucks in the region. Japan was the only country in Asia-Pacific to register weak consumption due to a decline in construction activity during the review period. In the forecast period, this market growth is expected to continue and the consumption value of construction trucks in the Asia-Pacific region is expected to record a CAGR of approximately 11%.
For more information on the construction truck market forecast and analysis of other regions, visit "Focus On Construction" at Fast Market Research ( http://www.fastmr.com/focuson/construction)
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