Press release
Construction Equipment Market to Worth US$ 245.2 Billion by 2028 | Industry CAGR of 5.2%
Construction Equipment Market
Report Metric Historical: 2017-2022
Base Year: 2021
Forecast Year: 2023-2028
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. Due to various environmental concerns and the growing demand for energy conservation, multiple players are currently concentrating on improving the fuel consumption of construction equipment.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Construction Equipment Market Trends:
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.
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Global Construction Equipment Market 2023-2028 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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