SAN FRANCISCO, September 24, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Construction Equipment – Global Market Trajectory & Analytics.” The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 17; Posted: April 2021
Executive pool: 3656
Companies: 109 – Players covered include Caterpillar Inc .; Deere & Co .; Dingsheng Tiangong Construction Machinery Co. Ltd .; Doosan Infracore Co. Ltd .; Hitachi Construction Machinery Co. Ltd .; JC Bamford Excavators Ltd .; JLG Industries Inc .; Kobelco Construction Machinery Co. Ltd .; Komatsu Ltd .; Kubota Company; Liebherr Group; Lonking Holdings Limited; Manitou Group; Sandvik AB; SANY Group Co. Ltd .; Shantui Construction Machinery Co. Ltd .; Sumitomo Heavy Industries Ltd .; Terex Company; Xuzhou Construction Machinery Group Co. Ltd .; Xuzhou Heavy Machinery Co. Ltd .; Zoomlion Heavy Industry Science & Technology Development Co. Ltd. and others.
Blanket: All major geographies and key segments
Segments: Type of equipment (earthmoving equipment, material handling equipment and cranes, concrete equipment, other types of equipment)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global Construction Equipment Market To Reach $ 157.9 billion by 2026
In the midst of the COVID-19 crisis, the global construction equipment market is estimated at US $ 129.6 billion in 2020, is expected to reach a revised size of US $ 157.9 billion by 2026, with a CAGR of 3.3% over the analysis period. Earthmoving equipment, one of the segments analyzed in the report, is expected to register a CAGR of 3.2% and reach US $ 78.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Material Handling Equipment and Cranes segment is readjusted to a revised CAGR of 3.4% for the next 7 year period.
The US market is estimated at $ 36 billion in 2021, when China is expected to reach $ 31.8 billion by 2026
The construction equipment market in the United States is estimated at 36 billion US dollars in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 31.8 billion by 2026, with a CAGR of 6% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 0.9% and 2.4% respectively over the period of analysis. In Europe, Germany is expected to grow at around 1.6% CAGR.
Concrete equipment segment to be reached US $ 19.8 billion by 2026
In the global concrete equipment segment, United States, Canada, Japan, China and Europe will result in the estimated 3.5% CAGR for this segment. These regional markets representing a combined market size of US $ 11.7 billion in 2020 will reach a projected size of US $ 14.9 billion before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Following
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for more than 33 years.
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SOURCE Global Industry Analysts, Inc.