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Compact Construction Equipment Market Size, Share, Analysis- 2023 | Key Segments with Top Leading Players
Compact Construction Equipment Market
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Compact construction equipment is small in size, light in weight, highly efficient, and capable of performing multiple tasks as compared to heavy equipment. Growth in the construction industry is the major driver for the incremented demand for compact construction equipment, as they are highly versatile, movable from one place to another, and easy to use. The rise in population and rapid urbanization further contribute to the developing construction industry. This in turn boosts the demand for compact construction equipment. However, the increase in production costs, the dearth of a skilled workforce, and fluctuations in fuel prices hinder the market growth.
Key Segments
The global compact construction equipment market is segmented into equipment, end-user industry, application, and region. Based on equipment, the market is categorized into backhoe loader, excavator, skid steer loader, telehandler, track loader, and others. The backhoe loader is anticipated to dominate the global compact construction equipment market throughout the analysis period owing to its wide scope of application.
The end-user industry segment includes metal & mining, construction, agriculture, and others. In 2016, the construction industry accounted for the highest market share due to an increase in the number of infrastructural improvements. By application, the market is divided into loading, excavation, material handling, lifting & hoisting, and others. In 2016, the loading in the application segment accounted for the highest market share due to an increase in the number of construction activities.
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Key Players
The key players profiled in this report are Caterpillar, Inc., JCB, Inc., John Deere, King Machinery, Komatsu, Mustang, Sany, Hyundai Heavy Industries Co. Ltd., Volvo, and XCMG.
Key Benefits for Stakeholders
The study provides an in-depth analysis along with current & future trends to elucidate the imminent investment pockets.
Information about key drivers restraints, and opportunities, and their impact analysis on the market are provided.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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