construction equipment market
According to IMARC Group’s latest report, titled “Construction Equipment Market: Global Industry Share, Trends, Size, Growth, Opportunities and Forecast 2022-2027”, the global construction equipment market reached a value of 172 .8 billion US$ in 2021. Looking ahead, IMARC Group expects the market to reach US$239.3 billion by 2027, growing at a CAGR of 5.45% during the period 2022-2027.
Report Measurement History: 2016-2021
Base year: 2021
Forecast year: 2022-2027
Construction equipment, also known as heavy equipment, is designed to perform construction-related activities. It includes pavers, scrapers, generators, pile drivers, concrete mixers, transporters and off-road trucks, as well as compactors and rollers. Construction equipment is used to perform different functions such as transportation, drilling, paving, grading, excavation and digging. Currently, several players are focusing on improving the fuel efficiency of construction equipment due to several environmental concerns and the growing need for energy saving.
As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as consumer behaviors in the industry around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.
Global Construction Equipment Market Trends:
Increasing investment in infrastructure development, in conjunction with a significant increase in commercial construction activities, represents one of the major factors supporting the growth of the market. Moreover, the emerging trend towards automation of construction processes is contributing to the growth of the market. Apart from this, several manufacturers are focusing on upgrading existing equipment to next-generation machines by integrating advanced technologies, such as the Internet of Things (IoT). This should create a positive outlook for the market.
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2022-2027 Global Construction Equipment Market Analysis and Segmentation:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Company, Doosan Infracore, Hitachi Construction Machinery, Komatsu Ltd. and Liebherr-International AG.
The report has segmented the market based on region, solution type, equipment type, type, application, and industry.
Breakdown by type of solution:
Breakdown by type of equipment:
heavy construction equipment
Compact construction equipment
Breakdown by type:
Breakdown by application:
Excavation and mining
Lifting and handling
Breakdown by industry:
oil and gas
Construction and infrastructure
Breakdown by region:
North America: (United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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