Press release
Construction Equipment Market – Terex Corporation., Deere & Company., Zoomlion Heavy Industry Science&Technology Co., Ltd., Atlas Copco (India) Ltd, Sandvik AB, WIRTGEN GROUP, Ammann Group
Construction Equipment Market growth
Global Construction Equipment Market is expected to rise to an estimated value by registering a substantial CAGR of 5.1% in the forecast period of 2019-2026. Growth in industrial and commercial development and economic growth is enhancing the market growth.
Market Definition: Global Construction Equipment Market
Construction equipment is specially designed machineries for construction activities in both urban and rural areas. Cement machinery, lifting machinery, decoration machinery, pile driving machinery among others are some of the most common type of the construction equipment. These machines are very useful as it reduces labour time and also saves money. This equipment is widely used in manufacturing, mining, public works and rail roads, forestry and others.
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Market Drivers:
Rising investment in infrastructure is the factor driving the growth of this market
Increasing number of smart city projects is driving the market growth
Technological advancement and development is another important factor driving the market growth
Growing demand of small and large excavators, backhoe loaders and other heavy construction equipment from developing countries is a driver for this market
Segmentation: Global Construction Equipment Market
By Equipment Type
o Articulated Dump Truck
o Asphalt Finisher
o Backhoe Loader
o Crawler Dozer
o Crawler Excavator
o Crawler Loader
o Mini Excavators
o Motor Grader
o Motor SCRaper
o Road Roller
o Rigid Dump Truck
o RTLT-Masted
o RTLT-Telescopic
o Skid-Steer Loader
o Wheeled Excavator
o Wheeled Loader 80hp
By Equipment Category
o Earthmoving Equipment
o Material-Handling Equipment
o Heavy Construction Vehicles
o Other Equipment
By Application
o Infrastructure
o Commercial Buildings
o Residential Buildings
o Industrial Buildings
By Power Output
o 400 hp Construction Equipment
By Emission Regulation Stage
o Stage II
o Stage III
o Stage IIIA
o Stage IIIB
o Stage IV
o Stage V
o Stage VI
o Tier 3
o Tier 4
o Tier 5
By Propulsion Type
o Diesel
o Gasoline
o CNG/LNG/RNG
By Solution
o Products
o Services
By Drive Type
o Hydraulic
o Electric &Hybrid
By End- Users
o Oil & Gas
o Public Works & Rail Road
o Forestry & Agricultural
o Manufacturing
o Military
o Mining
By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
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Key Developments in the Market:
In February 2019, H&E Equipment Services, Inc. announced that they have acquired We-Rent-It. This acquisition will help the company to expand them in the 22 branches in Texas and will also assist them to provide better services to their customer and to strengthen their position in the market place
In June 2017, Deere & Company announced that they have acquired Wirtgen Group. The main aim of this acquisition is to expand their business in both construction and agriculture and will help the Deere & Company to reach more customer and market. This acquisition will also assist the company to strengthen their market presence.
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Key Market Competitors:
Few of the major competitors currently working in global construction equipment market are Caterpillar, AB Volvo, Komatsu Ltd, CNH Industrial N.V., Liebherr Group, Hitachi Construction Machinery Co., Ltd., Terex Corporation., Deere & Company., Zoomlion Heavy Industry Science&Technology Co., Ltd., Atlas Copco (India) Ltd, Sandvik AB, WIRTGEN GROUP, Ammann Group, Manitowoc, ASTEC INDUSTRIES, INC., Doosan Corporation, XCMG Group, Hyundai Heavy Industries Co., Ltd. and SANY GROUP among others.
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