DUBLIN, October 14, 2021– (BUSINESS WIRE) – “North America Heavy Construction Equipment Market 2021-2027” report has been added to ResearchAndMarkets.com offer.
The North America heavy construction equipment market is expected to grow at a modest CAGR of 7% during the forecast period (2021-2027).
The key aspect driving the growth of the market includes the rapid growth of construction as well as the growth of manufacturing, mining, oil and gas industries in the region.
Large infrastructure projects such as the Gordie Howe Canada International Bridge, Purple Line Maryland, I-4 Ultimate Florida, Central 70 Colorado, SH 99 Grand Parkway Segments F1, F2, G Texas, among others, are also driving demand.
In addition, airport development activities also increased, which is expected to further increase the demand for heavy construction equipment in the North America region.
Highlights of market segmentation
The North America heavy construction equipment market is segmented on the basis of machine type, application, industry, and geography.
Based on the type of machine, the market is segmented into earthmoving equipment, material handling equipment, and other construction equipment. The earth moving equipment segment includes cranes, loaders and backhoes, telehandlers, excavators and others. The material handling equipment segment includes hoists, conveyors, forklifts and others. Other construction equipment includes concrete mixers, road rollers, stone crushers, dumpers, dumpers and trailers, etc. The material handling equipment segment is estimated to hold a lucrative share of the market.
On the basis of applications, the market is segmented into excavation and demolition, heavy lifting, material handling, transportation, recycling and waste management, etc. The heavy lifting and transporting segment is expected to hold a significant market share.
On the basis of industry, the market is segmented as construction and infrastructure, manufacturing, mining, and others (oil and gas). The construction and infrastructure segment is estimated to have a lucrative share of the market.
On the basis of geography, the market is segmented between the United States and Canada. The United States is expected to hold a substantial share of the North American market during the forecast period.
Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd. and Kobelco Construction Machinery Co. Ltd. leading players operating in the North American heavy construction equipment market.
New product launches and developments, partnerships, agreements and acquisitions are some of the growth strategies adopted by the players in order to maintain themselves in a highly competitive market.
Scope of the report
A comprehensive research methodology of the North American heavy construction equipment market.
A detailed and comprehensive overview of the market with key information from analysts.
A comprehensive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the heavy construction equipment market in North America.
Overview of the market determinants driving the North American heavy construction equipment market.
Detailed and extensive market segments with regional revenue distribution forecast.
Extensive profiles and recent developments of market players.
Profiled companies (AZ)
ASTEC Industries inc.
Deere & Co.
Hitachi Construction Machinery Co. Ltd.
Hyundai Heavy Industries Co. Ltd.
Sumitomo Heavy Industries Ltd.
Manitowoc Co. Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/3taepm
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211014005472/en/
Laura Wood, Senior Press Director
For EST office hours, call 1-917-300-0470
For USA / CAN call toll free 1-800-526-8630
For GMT office hours, call + 353-1-416-8900