Construction Equipment Aftermarket Market Analysis, Trends, Growth, Research And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Construction Equipment Aftermarket Global Market Report 2023 identifies the growing construction activities as the major driver for the construction equipment aftermarket market's growth in the forecast period. Construction activities refer to the various tasks and operations involved in constructing, renovating, or building structures, such as buildings, infrastructure, and facilities. The growing construction activities provide demand for construction equipment aftermarket products like machinery parts and equipment maintenance and repairs for excavators and bulldozers.

The global construction equipment aftermarket market is expected to grow from $23.38 billion in 2022 to $25.20 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The construction equipment aftermarket market is expected to reach $32.69 billion in 2027 at a CAGR of 6.7%.

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Major competitors in the construction equipment aftermarket market are Caterpillar Inc., Komatsu Ltd., CNH Industrial N.V., Atlas Copco Group, Liebherr Group, XCMG Group, John Deere Construction & Forestry, Volvo Construction Equipment Corp., Yanmar Co. Ltd., Hitachi Construction Machinery Co Ltd., JLG Industries Inc., Zoomlion Heavy Industry Science and Technology Co Ltd., Sany Heavy Industry Co Ltd., SANY Group Co. Ltd.

A key trend in the construction equipment aftermarket market includes product innovation. Major companies operating in the construction equipment aftermarket are innovating new products to sustain their position in the market. For instance, in May 2020, John Deere, a US-based heavy equipment and machinery manufacturer, launched the M Series front loaders for the construction equipment aftermarket market. M Series front loaders are designed for tractors up to 155 hp with a mechanical self-leveling (MSL) system. The hydraulic components are routed internally to protect them from any potential collision, and M Series loaders can be equipped with an optional suspension system. Customers that require a versatile, lightweight loader at a competitive price have been the target market for the M Series. The M Series versions are also entirely compatible with John Deere front hitches, enabling complete front axle oscillation and maximum steering degrees while providing space for significant tractor servicing locations.

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The construction equipment aftermarket market is segmented -
• By Equipment Type: Earthmoving And Road Building Equipment, Material Handling And Cranes, Concrete Equipment

• By Application: Infrastructure, Residential, Commercial

• By Sales Channel: Online, Offline

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the construction equipment aftermarket market.

The Business Research Company's "Global Construction Equipment Aftermarket Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Construction Equipment Aftermarket Market Include:
1. Executive Summary
2. Construction Equipment Aftermarket Market Characteristics
3. Construction Equipment Aftermarket Market Trends And Strategies
4. Construction Equipment Aftermarket Market - Macro Economic Scenario
5. Global Construction Equipment Aftermarket Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Construction Equipment Aftermarket Market Competitive Benchmarking
33. Global Construction Equipment Aftermarket Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Construction Equipment Aftermarket Market
35. Construction Equipment Aftermarket Market Future Outlook and Potential Analysis
36. Appendix

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