Construction Equipment Market To Reach USD 245.2 Billion By 2028

IMARC Group, a leading market research company, has recently releases report titled Construction Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 The study provides a detailed analysis of the industry, including the global construction equipment market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the construction equipment market?

The global construction equipment market size reached US$ 182.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 245.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

What is construction equipment?

Construction equipment, also called heavy equipment, refer to specialized machines that are designed for executing infrastructural projects. They usually comprise ditches, graders, pumps, tractors, bulldozers, excavators, cranes, trenchers, derricks, loaders, backhoes, etc. Construction equipment also include generators, concrete mixers, scrapers, pavers, pile drivers, haulers and trucks, compactors and rollers, etc. They aid in improving worker safety, enhancing productivity, reducing downtime caused by errors, etc. Construction equipment can be rented from several third-party providers to eliminate the hassle of maintaining various heavy machinery and minimize the overall costs of large projects. They enable builders and contractors to remove human involvement in numerous labor-intensive and dangerous tasks, which cause additional risks and errors in operations. Consequently, construction equipment are widely utilized for hauling, compacting, dozing, grading, leveling, placing material, transferring heavy loads, excavating and digging the ground, etc.

Request for a sample copy of this report: https://www.imarcgroup.com/construction-equipment-market/requestsample

What are the growth prospects and trends in the construction equipment industry?

The rising number of public-private partnerships (PPP), which are joint ventures between government bodies and private sector companies for building various infrastructure systems, is primarily driving the construction equipment market. Additionally, the escalating demand for inventory management solutions to conserve time and reduce monetary expenses is further bolstering the market growth. Besides this, the introduction of energy-efficient and eco-friendly construction devices, which have a low carbon footprint and cause minimum ecological degradation, is acting as another significant growth-inducing factor. Moreover, the widespread adoption of compact product variants, which are easy to handle, provide excellent movability, require minimum maintenance, etc., is also positively influencing the global market. Apart from this, the development of automation technologies that help in tracking the productivity of these devices from remote platforms, including mobile apps and computer software, is anticipated to fuel the construction equipment market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Solution Type:
Products
Services

Equipment Type Insights:
Heavy Construction Equipment
Compact Construction Equipment

Type Insights:
Loader
Cranes
Forklift
Excavator
Dozers
Others

Breakup by Region:

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

Who are the key players operating in the industry?

The report covers the major market players including:

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

Ask Analyst for Customization and Browse full report with TOC List of Figure: https://www.imarcgroup.com/request?type=report&id=4107&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email:sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Groups information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

This release was published on openPR.