Construction Equipment Market Expected to witness Incredible Growth during 2022-2031 |Key Players Caterpillar Inc., CNH Industrial, Doosan Group, Guangxi LiuGong Machinery Co.Ltd., Hitachi Construction Machinery Co. Ltd.

Global Construction Equipment Market report from Global Insight Services is the single authoritative source of intelligence on Construction Equipment Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activitiesin the market.

Construction equipment market is estimated to reach $330 bn by 2031. This is due to the growing construction industry and massive investments in infrastructure development.

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Key Trends and Drivers

Some of the key trends in the construction equipment market include:

Increasing demand for infrastructure development: The need for infrastructure development is increasing globally, especially in developing countries. This is due to the growing population and the rise in urbanization. As a result, there is a growing demand for construction equipment such as excavators, bulldozers, and cranes.
Growing construction industry: The construction industry is growing due to the increasing demand for infrastructure development. This is resulting in the increased use of construction equipment.
Increasing adoption of new technologies: Construction equipment manufacturers are increasingly adopting new technologies to improve the efficiency of their products. For instance, many manufacturers are now using 3D printing technology to create prototypes of new construction equipment. This helps to reduce the time and cost of developing new products.
Growing demand for rental services: There is a growing demand for rental services of construction equipment due to the high cost of buying new equipment. This is especially beneficial for small and medium-sized construction companies.

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Restraints & Challenges

The construction equipment market is highly competitive with a large number of players. The industry is capital intensive and the products are typically expensive, which can act as a barrier to entry for new players. The market is also reliant on economic conditions, as construction activity is often linked to GDP growth. In addition, the industry is subject to strict environmental regulations, which can impact the types of equipment that can be used.

Market Segments

By Product

Earthmoving & Roadbuilding Equipment
Backhoes
Excavators
Loaders
Compaction Equipment
Others
Material Handling and Crane
Storage & Handling Equipment
Engineered Systems
Industrial Trucks
Bulk Material Handling Equipment
Others

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Concrete Equipment
Concrete Pumps
Crushers
Transit Mixers
Asphalt Pavers
Batching Plants

Key Players

Caterpillar Inc.
CNH Industrial
Doosan Group
Guangxi LiuGong Machinery Co.Ltd.
Hitachi Construction Machinery Co. Ltd.
C. Bamford Excavators Limited
Deere & Company
Kobelco Construction Machinery Co. Ltd.
Komatsu Ltd.
Liebherr Group

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