At 4.2% CAGR, Heavy Construction Equipment Market Size to Cross $240.49 Billion by 2027

Allied Market Research recently published a report, "Heavy Construction Equipment Market by Equipment Type (Earth-moving, Material Handling, Heavy construction vehicles, and Others), Application (Excavation & Demolition, Heavy Lifting, Tunneling, Material Handling, and Recycling & Waste management), and End User (Infrastructure, Construction, Mining, Oil & Gas, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027".

According to the report, the global heavy construction equipment industry was pegged at $171.66 billion in 2019, and is projected to reach $240.49 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.

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The manufacturing segment to manifest the highest CAGR through 2027

The manufacturing segment is expected to portray the highest CAGR of 6.6% during the study period, owing to increase in industrialization and urbanization and rise in application of forklifts and hoisting equipment in the manufacturing industry.

Asia-Pacific, followed by North America, held the largest share

The global heavy construction equipment market across the Asia-Pacific region held the largest share in 2019, accounting for more than two-fifths of the market. Moreover, the segment is expected to register the highest CAGR of 5.3% during the study period, owing to the improvement in overall production facilities. The market across North America held around one-fifth of the market period.

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Key Findings Of The Study
o The report provides an extensive analysis of the current and emerging heavy construction equipment market trends and dynamics.
o The report provides an extensive analysis of theheavy construction equipment markettrends and emerging opportunities of the market.
o In-depth heavy construction equipment market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
o The global heavy construction equipment market forecast analysis from 2020 to 2027 is included in the report.

Major market players
o AB Volvo
o CNH
o Caterpillar Inc.
o Doosan Infracoe
o Deere & Company,
o JCB
o Hitachi Machinery Construction,
o Komatsu
o Sany
o Liebherr AG

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