Press release
Construction Equipment Market Is Set To Witness Exponential Growth In Demand Over The Coming Years
The outbreak of COVID-19 has interrupted the growth construction, mining, and other industrial activities. Demand for construction equipment is contingent on the growth of these end-use industries, and with declining investments in these sectors, the construction equipment market is poised to experience a downward trend across the globe, in the near term.To Get In-depth Information View Full Report – https://www.factmr.com/report/3965/construction-equipment-market
Demand for construction equipment is set to regain traction with an increase in investments made by governments in both, developed and developing countries, for infrastructure development projects. In addition, efforts made by governments to build highways, dams, railways, and roads as part of developing smart cities in the areas of energy, mobility, and government are projected to drive the sales of construction equipment in the foreseeable future.
The global construction equipment market is poised to expand at a value CAGR of close to 4%, and is expected to create an absolute dollar opportunity of US$ 61 Bn over the forecast duration 2020-2030.
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Key Takeaways from Construction Equipment Market Study
Under the impact of COVID-19, the global construction equipment market is expected to reach a market valuation of US$ 180 Bn by the end of 2030.
By equipment, demand for excavators is foreseen to grow 2.6X than cranes in 2020. On the other hand, cranes will account for 1/5 of the overall absolute dollar opportunity created during the forecast period.
By power output, 200.1-400 HP construction equipment is projected to create an absolute $ opportunity of US$ 18 Bn from 2020 and 2030.
By end use, the construction industry is projected to account for 42% of the total sales in 2020, and is anticipated to create an absolute $ opportunity of more than US$ 32 Bn during the forecast period 2020-2030.
By region, East Asia is estimated to be the prominent construction equipment market, and is projected to surpass a market valuation of US$ 52 Bn by the end of 2030.
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Key Segments of Construction Equipment Market
Fact.MR’s study on the construction equipment market offers information divided into five key segments— equipment, power output, end use, ownership, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Equipment
Excavators
Crawlers Excavators
Wheeled Excavators
Mini Excavators
Loaders
Asphalt Pavers
Dozers
Dump Trucks
Compaction Machines (Rollers)
Concrete Mixers
Motor Graders
Cranes
Mobile Cranes
Crawler Cranes
Tower Cranes
Others
Power Output
Below 100 Hp
100.1 to 200 Hp
200.1 to 400 Hp
Above 400 Hp
End Use
Construction
Mining
Agriculture & Forestry
Industrial
Others
Ownership
Rental Operators
Industrial & Commercial Enterprises
Region
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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Crucial insights in the Construction Equipment Market Market research:
Underlying macro- and microeconomic factors impacting the growth of the Construction Equipment Market Market Basic overview of the Construction Equipment Market Market including market definition, classification, and applications.
Scrutinization of each Construction Equipment Market Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Construction Equipment Market Market across various industries.
Important regions and countries offering lucrative opportunities to Construction Equipment Market Market stakeholders.
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