Which are prominent countries driving the growth of construction equipment market?

The report "Construction Equipment Market by Type (Excavator - Crawler and Mini, Loader - Backhoe, Skid-steer, Wheeled and Other Equipment), Category, Emission Regulation, Aftertreatment Device, Power Output, Application, Rental Equipment, and Region - Global Forecast to 2025", The construction equipment market is projected to grow at a CAGR of 4.52%, to reach a market size of USD 199.18 Billion by 2025, from an estimated USD 146.17 Billion in 2018. The market is driven by the increasing government spending on various infrastructure activities, development of smart cities, and changing emission regulations across the world.

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“Tier-5 emission regulation is expected to have a significant impact on the construction equipment market”

Tier-5 compliant engines are projected to have the largest market share of construction equipment by emission regulation in 2025. The countries in North America such as Canada, the US, and Mexico are speculated to have enforced these regulations by 2025. Additionally, it is speculated that Japan will also follow these regulations once they are in effect. With the increasing focus on reducing emission from fossil fuels, regional emission regulation will have a significant impact on the construction equipment market.

“SCR is expected to be the fastest-growing segment of the construction equipment aftertreatment devices market”

The Selective Catalytic Reduction (SCR) aftertreatment device segment is projected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the stringent emission regulation standards that are speculated to be in Asia Pacific, Europe, and North America during the forecast period.

Asia Pacific is projected to remain the largest market for construction equipment over the forecast period”

The Asia Pacific region includes key countries such as China, Japan, and India. The construction equipment market in this region is projected to remain the largest owing to the increase in infrastructural development projects. Population migration from rural to urban areas is another factor that is driving the demand for infrastructure projects in the region. Robust economic growth, along with increasing need for housing and office spaces has increased the demand for construction equipment across the region.

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Key Market Players:

Major players covered in the construction equipment market study are Caterpillar (US), Komatsu (Japan), Terex (US), CNH Industrial (the Netherlands), Liebherr (Switzerland), JCB (UK), and Hitachi Construction Machinery (HCM).

Key Questions addressed by the report

• What are the prominent market dynamics that are likely to impact the sales of these construction equipment?
• Which construction equipment type is going to in demand during the forecast period?
• Which are prominent countries driving the growth of construction equipment market?
• How are the players addressing the challenge of maintaining a sustainable and profitable model for construction equipment?
• What is the market share of key players in the market and the prominent strategies adopted by them?

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