DUBLIN, 22 November 2021 / PRNewswire / – The “Global Construction Equipment Market By Type (Crawler & Mini Excavator, Backhoe Loader, Backhoe Loader, Wheel, Dozer, Dump Truck), Electrical Equipment, Propulsion, Power Output, Application, location, post-processing device, and the Region – Forecast to 2026 report “has been added to ResearchAndMarkets.com offer.
The global construction equipment market is expected to reach $ 250.4 billion by 2026 from $ 208.3 billion in 2021, at a CAGR of 3.8% over the forecast period.
The growth of this market is fueled by increased investment in infrastructure after the COVID-19 pandemic is likely to fuel demand for construction equipment and increased investment in urban infrastructure is expected to boost the sector of construction, and thus should boost construction equipment. market during the forecast period.
CNG / LNG / RNG market in construction equipment market will be the fastest growing market
Natural gas is more environmentally friendly than diesel and gasoline. It produces 25% less sulfur, nitrogen and carbon pollutants. Natural gas contains methane as the main component, with traces of ethane, propane, butane and nitrogen. Natural gas engines burn cleaner than other engines and have minor differences from their diesel counterparts. Natural gas engines also produce less noise and vibration, increasing operator comfort.
Liquefied natural gas (LNG) is mainly methane that has been cooled to turn it into liquid. Renewable Natural Gas (RNG) is natural gas produced from organic waste such as food waste, garden and lawn waste, and animal and plant waste. It is also produced from degraded carbon waste such as paper, cardboard and wool. Biogas is produced from organic waste, and it is cleaned and conditioned to remove non-methane elements.
According to the California Resource Board, RNG from food diverted from landfills and green waste can reduce greenhouse gas emissions by 125%, and RNG from dairy manure can lead to a 400% reduction in gas emissions. greenhouse effect by replacing traditional vehicle fuels. It produces 70% less greenhouse gases than diesel or gasoline, making it the most environmentally friendly fuel. It is also economical compared to diesel and gasoline. Natural gas is the most promising alternative fuel for construction machinery. Construction companies that offer CNG fueled construction equipment are Caterpillar and JCB.
Asia Pacific The market plays a very important role in the growth of the construction equipment market
Asia Pacific is expected to have the largest market share in terms of value and volume. The construction equipment market has seen growth in terms of the number of projects such as dams, airports and hydroelectric projects, thanks to which many international companies have started their manufacturing plants in this region. Some of the man-made wonders and remarkable construction projects such as the Beijing New International Airport (China) and the South-North Water Transfer Project (China) are installed in the region. The region is estimated to be the most populous in the world, which creates immense growth opportunities for the construction equipment market.
The market research covers the Construction Equipment Market on the basis of Equipment Type, Electrical Construction Equipment by Equipment Type, Equipment Category, Application, Construction Equipment Rental Market by Application, emission control step by aftertreatment, propulsion type, power output, engine capacity, and region. It also covers the competitive landscape and company profiles of major players in the construction equipment market ecosystem.
- Increased investment in infrastructure after the COVID-19 pandemic
- OEM Centric Connected Features
- Decrease in transaction value of construction equipment projects
- COVID-19 pandemic will provide opportunities for companies offering rental construction equipment
- Electrical and autonomous construction equipment
- Lack of globally harmonized emissions regulations
- RFP, Standardized Fleet Improving the Efficiency of Fleet Management
- JCB’s robust B2B sales platform
- Telenor Connexion brought new efficiencies to the global remote management of the Hitachi construction machinery fleet
- Astec Industries
- Atlas Copco AB
- Caterpillar Inc.
- CNH Industrial
- Deere & Company
- Doosan Heavy Industries & Construction Co. Ltd.
- Guangxi Liugong Machinery Co. Limited
- Hitachi Construction Machinery Co. Ltd.
- Hyundai Heavy Industries
- Kobe Steel Ltd.
- Kobelco Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Kubota Company
- Sandvik Group
- Sany Heavy Industry Co. Ltd
- Sumitomo construction machinery
- Sumitomo Heavy Industries
- Sumitomo Heavy Industries Construction Cranes Co. Ltd
- Telenor Connection
- Terex Company
- Volvo Group
- Writing group
- Yanmar Construction Equipment Co. Ltd.
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/wssc6k
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SOURCE Research and Markets