openPR Logo
Press release

Construction Equipment Market Size, Share, Trends & Forecast by 2027

08-07-2023 04:11 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Construction Equipment Market Size, Share, Trends & Forecast

The construction equipment market size is estimated to grow from USD 180.4 billion in 2022 to reach USD 223.1 billion by 2027, at a CAGR of 4.3% over the forecast period.

The market is expected to witness growth due to an increase in urban infrastructure projects and the adoption of advanced technologies in the construction industry.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=179948937

CNG/LNG/RNG construction equipment would be the fastest growing segment over the forecast period

The upcoming emission regulations have much-lowered emission limits, requiring advanced engine technologies and after-treatment devices. It would eventually increase equipment costs between 15-25%, resulting in increased capital investment for fleet owners and lowered ROIs. Additionally, the battery technology needs more time to address the issues related to charging time, range, and cost. Hence, alternate fuel equipment is the option for OEMs in the near future. The CNG/LNG/RNG are the best options for construction equipment in the coming years. Compressed Natural Gas emits 25% less sulphur, nitrogen, and carbon pollutants than gasoline engines. RNG emits 70% lesser Greenhouse Gases than diesel or gasoline, making it the most environment-friendly fuel. Liquefied natural gas (LNG) is mostly methane that has been cooled down to convert it into liquid form. Many major construction equipment manufacturers are focusing on developing the alternate fuel models. For instance, in May 2022, at EXCON Expo in India, Tata Hitachi launched the ZW225 wheeled loader with which is compliant to CNG. Also, in November 2020, JCB launched dual fuel CNG backhoe loader named JCB 3DX DFi in India. This new machine operated on CNG and Diesel simultaneously using the Homogeneous Charge Compression Ignition Technology (HCCI). Apart from this, the alternate fuels cost low compared to diesel and gasoline. Looking at all these benefits offered by alternate fuels and achieving decreased emission limits, the demand for alternate fuel construction equipment would increase over the next few years.

Crawler excavators would be the largest construction equipment type over the forecast period.

The crawler excavators are estimated to showcase a market share of >25% in 2022 and are projected to grow by 2027. Rapid urbanization is the key factor contributing to the growth of the crawler excavator market. The crawler excavator due to its chain belt setup offer stability in operation specially in rough terrain and muddy areas. The stronger gradeability of crawler excavators make is capable for usage in residential constructions as well as the underground mining projects. The crawler excavator act as an all-round construction equipment that can be used to dig sites, demolish structures and surfaces, carry out trenching and also lifting heavy objects. The excavators are available in wide range of engine capacities like below 5 tons, 5-10 tons and above 10 tons of capacity. Asia is expected to be the largest market for crawler excavators, owing to the increase in infrastructural developments and the rapidly growing real estate business in the region. Thus, heavy investment in infrastructure development in the construction and mining industry would drive the demand for crawler excavators during the forecast period.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=179948937

The Middle East would be the fastest-growing construction equipment market from 2022 to 2027.

The Middle East is estimated to be the fastest growing market for construction equipment from 2022 to 2027 due to the increased construction activities for infrastructure development. Saudi Arabia, UAE, and Qatar largely contribute to the sale of construction equipment in the Middle East. The Middle East has witnessed a boost in construction equipment sales in 2020-2021. The large infrastructure development projects like artificial beaches, luxurious hotel chains, road construction, and other such activities undertaken by the government as well as private organizations are the factors that would increase the demand for construction equipment in the Middle East by 2027. With such increased construction activities, the crawler excavators and wheeled loaders are estimated to be the largest selling equipment in the Middle East market by 2027.

Key Market Players:

The construction equipment market is dominated by giants such as Caterpillar (U.S.), Komatsu Ltd. (Japan), Deere & Company (U.S.), Hitachi Construction Machinery Co., Ltd. (Japan), Xuzhou Construction Machinery Group (China), SANY Group (China), A.B. Volvo (Sweden), Liebherr (Germany), CNH Industrial N.V (U.K.), Doosan Enerbility (South Korea), JCB (U.K.), Zoomlion Heavy Industries Science & Technology Co., Ltd. (China), Kobelco Construction Machinery Co., Ltd. (Japan), KUBOTA Corporation (Japan), Yanmar Holdings Co., Ltd. (Japan), Sumitomo Heavy Industries (Japan), Sumitomo Heavy Industries Construction Cranes Co., Ltd. (Japan), and Sumitomo Construction Machinery Co., Ltd. (Japan).

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/construction-mining-equipment-market-179948937.html

Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

One stop solution for all Market Research & Consulting needs.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Construction Equipment Market Size, Share, Trends & Forecast by 2027 here

News-ID: 3156943 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Japan

Vision Guided Robotic Systems Market Size 2022 - FANUC(Japan), KUKA(Germany), AB …
The Vision Guided Robotic Systems Market research report also provides an in-depth analysis of key players in the market, including their company profiles, business offerings, recent development, market strategies, and critical observation related to the product. The research study provides extensive coverage of the Vision Guided Robotic Systems Market size across all industries and businesses. In addition, it offers detailed insights into market size and growth depending upon various segments
Japan Agriculture Market, Japan Agriculture Industry, Japan Agriculture Livestoc …
The agriculture sector is a very significant sector in Japan. Agriculture sector exists in every part of country, but is especially essential on the northern island of Hokkaido that accounts for approximately 10% of national production. Modern methods such as commercial fertilizers, hybrid seeds, insecticides, and machinery, have been used so efficiently in farming. Japan is the second major agricultural product importer in the world (after the U.S.). Almost all
Car Navigation ECU Market 2019: Top Key Players are AW Software (Japan), Contine …
Car Navigation ECU Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. This report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry. Get Sample Copy of this Report@ https://www.researchreportsworld.com/enquiry/request-sample/13844912 Global Car Navigation ECU market 2019 research provides a basic overview of the industry
Global Car Navigation ECU Market Outlook to 2023 – AW Software (Japan), Contin …
An automotive navigation system is part of the automobile controls or a third party add-on used to find direction in an automobile and the ECU is the core part control it. Car Navigation typically uses a satellite navigation device to get its position data which is then correlated to a position on a road. According to this study, over the next five years the Car Navigation ECU market will register a
Global Car Navigation Parts Market Research Report 2019-2025  | Global Key Play …
This research report titled “Global Car Navigation Parts Market” Insights, Forecast to 2025 has been added to the wide online database managed by Market Research Hub (MRH). The study discusses the prime market growth factors along with future projections expected to impact the Car Navigation Parts Market during the period between 2018 and 2025. The concerned sector is analyzed based on different market factors including drivers, restraints and opportunities in
Global Automotive 3D Scanning Laser Radar (3D-LiDAR) Market 2019-2025 | Velodyne …
Researchmoz added Most up-to-date research on "Global Automotive 3D Scanning Laser Radar (3D-LiDAR) Market Insights,Forecast to 2025" to its huge collection of research reports. 3D LiDAR uses a pulsed laser to detect distance, velocity and angle with high precision. LiDAR can classify objects, detect lane markings, and may also be used to accurately position an autonomous vehicle relative to a high definition map. 3D LiDAR is prominent, as it is a key