December 2, 2022

According to the latest report, titled “Construction Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The Construction Equipment Market is projected to grow from USD 141.99 billion in 2021 to USD 222.14 billion in 2028 at a CAGR of 6.6% in the 2021-2028 period.

This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Construction Equipment Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Construction Equipment Market.

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A few top players in the industry are

  • AB Volvo (Gothenburg, Sweden)
  • Caterpillar Inc. (Illinois, U.S.)
  • Komatsu Ltd. (Tokyo, Japan)
  • Doosan Infracore Co. Ltd. (Seoul, South Korea)
  • Hitachi Construction Machinery Co., Ltd. (Tokyo, Japan)
  • J.C. Bamford Excavators Ltd. (Rocester, U.K.)
  • Liebherr Group (Bulle, Switzerland)
  • CNH Industrial N.V. (London, U.K.)
  • Hyundai Construction Equipment Co., Ltd. (Seoul, South Korea)
  • SANY Group (Beijing, China)

The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Construction Equipment Market and the market concentration is described in the report.

Regional Analysis:

On the basis of Geography, the Global Construction Equipment Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Construction Equipment Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.

The growing number of Construction Equipment Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

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Report Coverage

The report delivers a methodical study of the construction equipment market fragments and extensive analysis of the market overview. A thoughtful assessment of the recent market trends as well as the future prospects is offered in the report. It further shares an exhaustive analysis of the regional insights and their role in shaping the construction equipment market growth. The COVID-19 impacts have been recently mentioned in the report to aid financiers and business professionals to recognize the risks in a better manner. It focuses on the vital players and their significant strategies to remain in the principal position.

Segmentation

On the basis of equipment type, this market is segregated into earthmoving equipment, material handling equipment and cranes, concrete equipment, road building equipment, civil engineering equipment, crushing and screening equipment, and others. In terms of region, the market is branched into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By application, the construction equipment market is classified into residential, commercial, and industrial. The industrial application segment is predicted to depict progressive growth in the near future owing to growing industrialization and foreign direct investments (FDI) for numerous international manufacturing units in emerging economies.

An overview of the Construction Equipment Market’s regional outlook:

The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.

Drivers and Restraints

Implementation of Innovative Construction Equipment to Navigate Market Growth

Customers across the world are requesting for better fuel-efficient, technologically advanced equipment for boosting constructing activities. Implementation of elevated equipment decreases labour costs, tracing of work done in every phase of development, and further diminishes functioning costs.

Key companies are working relentlessly on extending their business domain by offering products, services or solutions, coupled with fresh values which take complete benefit of Information and Communication Technology and IoT (Internet of Things) technologies.

Furthermore, they are involved in presenting advanced equipment that can not only satisfy customer requirements but also tackle public and ecological issues. Therefore, the end-users are naturally fascinated by these apparatuses. Lately, Black Cat Civil, an Australian company found the Cat Next Gen earthmovers to be a solid counterpart for their technology-based business model.

Regional Insights

Asia Pacific is expected to appear dominant in the market and is likely to hold the largest construction equipment market share during the forecast period. Growth observed in the region is probable to be motivated by the occurrence of online retail amenities, accessibility of machinery on a rental basis, increasing government funds in infrastructure development, augmentation in capital investments.

Europe produced a considerable revenue in 2019 and is anticipated to observe growth owing to rising demand for fresh housing projects, refining engagement levels, and many more. Likewise, as Germany is measured as the home to Europe’s best-performing machine and equipment sector, it is anticipated to have substantial prospects to develop over the forecast period.

The robust existence of key companies such as Caterpillar, and Sany America is assisting the construction equipment market growth in North America. Moreover, the obvious determinations of these companies concerning technological advancements, planned associations, procurements, and emphasis on the aftermarket services are also estimated to sway the market latent in North America.

 

FAQs:

  1. What is the driving factor for the growth of the Construction Equipment Market?
  2. How will the COVID-19 pandemic impact the demand and consumption of the Construction Equipment Market?
  3. What is the major application area of the Construction Equipment Market?
  4. Who are the Construction Equipment Market manufacturers across the globe?
  5. Which geographical location is dominant in the Construction Equipment Market?
  6. Which are the top industry players in the Construction Equipment Market?

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