United States Construction Equipment Market Is Addressing, Says Research | Komatsu Ltd, Hyundai Heavy Industries

United States Construction Equipment Market to Grow at 6% CAGR

The United States construction equipment market is growing at a high CAGR because of the rising building activities for infrastructure development along with strict government rules requiring high levels of safety and security throughout building activities.

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A recent study conducted by the strategic consulting and market research firm, Report Ocean, revealed that the United States construction equipment market is estimated to grow at a CAGR of 6% during the forecast period of 2022-2028. The growing demand for construction equipment in this region is being fueled by increased construction activities for infrastructural development as a result of government and private investment. Furthermore, increased demand for residential facilities is emerging as a significant driver of the construction equipment industry in the United States. However, high cost of construction equipment may act as a huge restraining factor for the market growth.

Increasing Maintenance and Refurbishing Activities of Buildings

As the number of commercial and residential buildings in the United States grows, so does the need for regular maintenance to keep them safe to live and work in. As a result, building owners and contractors spend substantial sums on building upkeep as well as remodelling old and underutilised rooms in order to profit from them. As a result, construction machinery demand is increasing, boosting overall market growth.

Rising Demand For Diesel Equipment Is Propelling The United States Construction Equipment Market

The United States construction equipment market is segmented into diesel, and CNG/LNG/RNG, based on the propulsion type. The diesel category accounts for the majority of market share. Because diesel has a high compression ratio, it is more efficient. Additionally, it may be used as both a light and a heavy oil. Diesel fuel is also less volatile and has a larger thermal energy content. During the projected period, however, the CNG/LNG/RNG propulsion type is expected to expand at the fastest pace.

Market Segment:

By Equipment Type (Articulated Dump Truck, Asphalt Finisher, Backhoe Loader, Crawler Dozer, Crawler Excavator, Crawler Loader, Mini Excavator, Motor Grader, Road Roller, Rigid Dump Truck, Rtlt Masted, Pick And Carry Cranes, Compactors, Others)

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By Equipment Category (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Categories),

By Propulsion Type (Diesel, Cng/Lng/Rng),

By Application (Infrastructure, Commercial, Residential), By Power Output (400 Hp)

United States Construction Equipment Market - By Application

Based on application, the United States construction equipment market is segmented into infrastructure, commercial, and residential. Because of the considerable government and private investment in infrastructural development in the nation, the infrastructure application category has the biggest market share. However, owing to the increased building of commercial facilities such as hotels, restaurants, and offices, the commercial segment is gaining substantial traction.

Impact of COVID-19 on United States Construction Equipment Market

Following the COVID-19 pandemic outbreak, the construction equipment business in the United States was one of the most hit. Due to the rising weight of COVID-19-affected rates and the adoption of social distancing standards, all construction activities were entirely suspended. Furthermore, during the lockdown, construction equipment manufacturing was hampered, resulting in substantial losses for the producers. The market, on the other hand, is expected to rise steadily if the country's lockdown is lifted.

Competitive Landscape

The leading market players of the United States construction equipment market are Kobelco Construction Machinery, Komatsu Ltd., Hyundai Heavy Industries, SANY Group, Caterpillar Inc., Hitachi Construction Machinery, John Deere, Volvo Construction Equipment, and other prominent players.

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The United States construction equipment market is highly consolidated and concentration among the established multinational corporations. The companies constantly launch new products with advancements and innovations. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Dont miss the business opportunity of the United States construction equipment market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the United States construction equipment market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the United States construction equipment market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

Key Questions Answered in The Report:

What are the strengths and weaknesses of the key vendors?
Who are the Leading key gamers and what are their Key Business plans in the close to future?
What will be the market increase price and measurement in the coming year?
What are the principal key elements riding the market?
What are the key market tendencies impacting the increase of the world Market?
Which are Trending elements influencing the market shares of the pinnacle areas throughout the globe?
What is the have an effect on of The Russia-Ukraine Crisis on the modern industry?
Who are the key gamers and what are their strategies in the international Market?
What are the market opportunities and threats confronted by using the carriers in the world Market?
What industrial trends, drivers, and challenges are manipulating its growth?
What are the key consequences of the 5 forces evaluation of the world industry?

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This release was published on openPR.