The global construction equipment market is expected to grow from US$126,062. 8 million in 2022 at US$223,451. 1 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.
New York, July 21. 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Construction Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Equipment Type and Application” – https://www. reportlinker.com/p06295658/?utm_source=GNW
Public-private collaboration is a joint venture between the government and the private sector to build public infrastructure. In this collaboration, the private company manages a government project and contributes technical and operational knowledge.
There are more and more public-private partnerships in India, Africa and China. Greater private sector engagement in infrastructure projects – especially private money at risk – can improve efficiency, if private developers are given the opportunity to put their risk management expertise to good use. requires a real transfer of risks and tasks.
Traditional procurement methods, which pay little attention to commercial and financial concerns, do not yield the same results. Private sector actors at the optimal level of participation and risk transfer bring specific skills in risk management, offer a long-term vision and interest in the project and absorb other risks without fear of bankruptcy.
Hence, the growing number of public-private partnerships is fueling the growth of the construction equipment market.
Electrification is shaping the construction equipment industry, which presents substantial opportunities and design options in the construction equipment market. Electrification increased in most market categories, including construction equipment for automobiles, buses and other vehicles.
The maturation and affordability of modern technologies and the tightening of pollution restrictions offer the feasibility of electrification, which has changed the future of the construction equipment sector. Several cities around the world have banned the use of diesel within city borders, affecting construction equipment operations. in some areas.
In China and Europe, strict pollution standards for the use of heavy machinery and equipment are imposed. With the use of electrical construction equipment, these rules regarding emission and noise pollution criteria can be easily complied with.
The TA15 is the culmination of years of work on earlier concept models. The machine is now part of the TARA autonomous transport solution consisting of several components, such as base vehicles (several TA15s) and the required infrastructure, such as a charging station and a control tower connected to cloud solutions tailored to the customer’s operating needs, maintenance and repair support, as well as the practical configuration of operations, which varies from site to site.
The TA15 is designed to deliver material in repetitive streams to off-road locations, such as quarries. The number of machines and charging stations needed will largely be determined by the desired production/transport volumes and the transport cycle.
Continuous advancements in electric variants of existing/new products offer lucrative opportunities for construction equipment market growth over the forecast period.
In recent years, rapid urbanization has occurred in North American countries, especially in the United States and Canada. Additionally, new buildings attempted to meet the growing need for smart and sustainable infrastructure solutions.
The growing number of metropolitan areas with high employment prospects is increasing investment in construction by government and the private sector. The rise of e-commerce businesses is expected to further improve the regional situation in the coming years.
Amazon, eBay, and other major e-commerce companies are spending heavily on the development of storage and commodity warehouses. Amazon announced plans to establish more than 1,000 warehouses and delivery facilities in suburban areas nationwide in September 2020.
In Europe, the rapid expansion of transport infrastructure is dramatically increasing construction activity. The CE market is driven by numerous projects, including London Crossrail (worth over €17 billion) and Germany and Denmark’s Fehmarn Belt Fixed Link, which is the longest submerged road and rail tunnel in the world with 18 km long. After the economic downturn from 2008 to 2010, the demand for construction equipment has increased in all countries in Europe due to the increase in the number of residential buildings in Germany and France and low rates of mortgage and infrastructure development. in southern European countries. Birmingham’s population will increase by 25% due to the Big City Plan. The COVID-19 pandemic has created a high need for infrastructure in hospitals, clinics and other centers of medical institutions, such as laboratories, shipping and logistics. Moreover, since the epidemic, the market in several countries has been operating in a semblance of normality. As a result, the demand for products and equipment in the heavy construction equipment market in Asia Pacific is expected to increase in the coming years. Additionally, rapid infrastructure development and availability of corporate capital investment in growing economies such as China and India in Asia-Pacific has boosted the demand for heavy construction equipment in the region. Rapid economic growth, growing middle-class population, population expansion, and growing foreign investment are propelling the construction industry in the Middle East and Africa. Saudi Arabia, the United Arab Emirates, Oman and Egypt are launching a host of infrastructure projects, including new megacities, railways, ports, airports and housing estates, which are expected to boost demand for construction equipment in the years to come. Additionally, modest construction projects that improve the city’s infrastructure, such as building new bridges, flyovers, new shopping malls, and highways, create a need for construction materials.
Caterpillar Inc.; CNH Industrial SA; Hitachi Construction Machinery Co., Ltd; JC Bamford Excavators Ltd. ; Deere & Company; Komatsu Ltd. ; Liebherr-International Deutschland GmbH; Terex Corporation; Volvo EC; and Zoomlion Heavy Industry Science and Technology Co., Ltd. are among the leading companies in the construction equipment market. The report also includes secondary research work on other companies that hold significant market share.
The overall construction equipment market size has been derived using primary and secondary sources. To begin the research process, an exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the Construction Equipment market.
The process also serves to get an overview and forecast for the construction equipment market with respect to all segments pertaining to the region. Additionally, several primary interviews were conducted with participants and industry commentators to validate the data and gain more analytical insights. in the construction equipment market.
Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders, specializing in the construction equipment market.
Read the full report: https://www.reportlinker.com/p06295658/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001