Construction equipment

Heavy Construction Equipment Market Report 2022-2027: Global Industry Size, Growth, Share, Trends, Forecast

The latest research studyHeavy Construction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027 ” by IMARC Group, finds that the global heavy construction equipment market size reached 124.42 billion US dollarsin 2021. Looking ahead, IMARC Group expects the market to reach a value of US$169.22 billion by 2027 exhibiting a CAGR of 5.10% over the period 2022-2027.

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Heavy construction equipment represents large-scale machinery used for operations and tasks, such as tunneling, material handling, excavation, recycling, waste management, etc. Some of the commonly used variants include dumpers, tippers, graders, bulldozers, excavators, etc. These machines help to increase the production rate through work progress, reduce the need for manpower, improve the speed, efficiency and safety on a larger scale, minimize the time limit overall construction processes and costs, etc. Therefore, heavy construction equipment finds wide applications in various industries, such as mining, manufacturing, oil and gas, etc.

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heavy construction equipment market Trends and Drivers:

The widespread adoption of products for demolition, dredging rivers, cutting trees, moving or loading materials including demolition debris, asphalt and snow etc. is mainly driving the market heavy construction equipment.

Additionally, the growing demand for cranes owing to their power and precision in lifting heavy materials with accuracy is further catalyzing the growth of the market. Besides, the launching of several favorable policies by the government bodies to promote residential, commercial and infrastructural development acts as another important growth driver. Additionally, numerous technological advancements, such as increasing integration of Internet of Things (IoT) and Machine Learning (ML) to optimize equipment utilization and improve operational efficiency, are also increasing the market. global.

Apart from this, the introduction of real-time data tracking and driver assistance systems to streamline processes and monitor fuel consumption, machine hours, location and maintenance is expected to fuel the heavy construction equipment market over the forecast period.

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Scope of Heavy Construction Equipment Market Report

Report cover

Details

Market size value in 2021

US$124.42 billion

Market forecast in 2027

US$169.22 billion

Rate of growth

5.10% CAGR from 2022 to 2027

Base year for the estimate

2021

Historical data

2016-2021

Forecast period

2022-2027

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Segments Covered

Region, equipment type and end user

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Profiled Key Companies

AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Company, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), Hyundai Doosan Infracore Co. Ltd., JCB Ltd., Komatsu Ltd., Liebherr AG, SANY Group Co., Ltd., Terex Corporation and XCMG Group

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Report segmentation:

The report has segmented the market into following categories:

Breakdown by type of equipment:

· earthmoving equipment

· Handling equipment

· Heavy construction vehicles

· Others

Breakdown by end user:

· Infrastructure

· Construction

· Mining

· oil and gas

· Manufacturing

· Others

By geography:

· North America

oh United States

oh Canada

· Asia Pacific

oh China

oh Japan

oh India

oh South Korea

oh Australia

oh Indonesia

oh Others

· Europe

oh Germany

oh France

oh UK

oh Italy

oh Spain

oh Russia

oh Others

· Latin America

oh Brazil

oh Mexico

oh Others

· Middle East and Africa

List of major key players:

The major market players are AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Company, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), Hyundai Doosan Infracore Co. Ltd., JCB Ltd., Komatsu Ltd. , Liebherr AG, SANY Group Co. Ltd., Terex Corporation and XCMG Group.

About Us:

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

Contact us:

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