Construction Equipment Market Will Surpass US$ 239.3 Billion by 2027 at 5.45% - Report By IMARC Group

The latest research study "Construction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group offers a comprehensive analysis of the industry, which comprises insights on the global construction equipment market.

Is the global construction equipment market good for investment or future trends?

The construction equipment market is expected to exhibit a CAGR of 5.45% during 2022-2027.

What is the construction equipment market?

Construction equipment, also known as heavy equipment, is designed to perform construction-related activities. It includes pavers, scrapers, generators, pile drivers, concrete mixers, off-highway haulers and trucks, and compactors and rollers. Construction equipment is used toperform different functions such as hauling, drilling, paving, grading,excavating, and digging. Presently, several players are focusing on improving the fuel consumption of construction equipment owing to several environmental concerns and the increasing need for energy conservation.

Impact of Covid-19: 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What is the drivers of change in trends for the global construction equipment market: 

Increasing investments in infrastructural development, in confluence with a significant rise in commercial construction activities, represents one of the major factors bolstering the market growth. Moreover, the emerging automation trend in construction processes is contributing to the growth of the market. Apart from this, several manufacturers are focusing on upgrading existing equipment into next-generation machines by integrating advanced technologies, such as the internet of things (IoT). This is projected to create a positive outlook for the market.

Global Construction Equipment Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore, Hitachi Construction Machinery, Komatsu Ltd. and Liebherr-International AG.

The report has segmented the market on the basis on region, solution type, equipment type, type, application and industry.

Breakup by Solution Type:

Products
Services

Breakup by Equipment Type:

Heavy Construction Equipment
Compact Construction Equipment

Breakup by Type:

Loader
Cranes
Forklift
Excavator
Dozers
Others

Breakup by Application:

Excavation and Mining
Lifting and Material Handling
Earth Moving
Transportation
Others

Breakup by Industry:

Oil and Gas
Construction and Infrastructure
Manufacturing
Mining
Others

Breakup by Region:

North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa

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This release was published on openPR.