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Building And Road Construction Equipment Market 2024-2033: Trends Analysis, Growth Rate, Current Demand, And Major Players.
Building And Road Construction Equipment Market
The Business Research Company's Building And Road Construction Equipment Global Market Report 2024 identifies Advancements In Technology as the major driver for the Building And Road Construction Equipment Market's growth in the forecast period. The manufacturing companies in the building and road construction equipment market are concentrating on upgrading their technologies. The technology advancements aim to increase the safety, productivity, and connectivity of equipment and decrease maintenance issues and costs.
The building and road construction equipment market size has grown rapidly in recent years. It will grow from $181.99 billion in 2023 to $202.35 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to economic growth, infrastructure development, urbanization, replacement and modernization.
The building and road construction equipment market size is expected to see rapid growth in the next few years. It will grow to $300.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to infrastructure investment, smart construction, sustainable construction practices, urbanization trends, rental market expansion. Major trends in the forecast period include technological advancements, autonomous and remote-controlled equipment, digital twin technology, customization and versatility.
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Major competitors in the Building And Road Construction Equipment Market are Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Atlas Copco Group, Deere and Company, Sany Heavy Industry Co. Ltd., Wacker Neuson SE, CNH Industrial NV, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Wirtgen Group, Kobelco Construction Machinery Co. Ltd., Manitowoc Company Inc., Bell Equipment Ltd., Astec Industries Inc., Bopparder Maschinenbau-Gesellschaft mbH, Case Construction Equipment, FAYAT Group, Gomaco Corporation Inc., HAMM AG, JLG Industries Inc., Konecranes Oyj, Kubota Corporation, LiuGong Machinery Corp. Ltd., Manitou Group, Palfinger AG, Putzmeister Holding GmbH, Sennebogen Maschinenfabrik GmbH, Tadano Ltd., Takeuchi Mfg. Co. Ltd.
A key trend in the Building And Road Construction Equipment Market includes Innovative Technologies. Major companies operating in the building and road construction equipment market are increasing their focus on introducing innovative technologies, such as concrete spraying equipment, to gain a competitive edge in the market. Concrete spraying equipment, also known as shotcrete equipment or gunite machines, is specialized machinery used in construction for the application of shotcrete or sprayed concrete. For instance, in June 2023, according to Normet, a US-based manufacturer of construction equipment, launched the Spraymec MF 050 VC SD for cleaner. The Spraymec MF 050 VC SD runs on Normet SmartDrive battery-electric technology, ensuring a comfortable experience for operators and eco-friendly operations with no local emissions. It features an advanced dosing system and a low-pulsation concrete spraying pump with a maximum capacity of 10.5 m3 (battery-powered) or 27 m3/h (electric). This machine, made specifically for underground mining, combines Normet SmartDrive with state-of-the-art spraying technology for effective and customized performance.
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The Building And Road Construction Equipment Market is segmented -
1) By Product Type: Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer, Bulldozers, Other Product Types
2) By Equipment Category: Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Other Equipment Categories
3) By Application: Building Construction, Road Construction
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Building And Road Construction Equipment Market.
The Business Research Company's "Global Building And Road Construction Equipment Market Report 2024" 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 Building And Road Construction Equipment Market Include:
1. Executive Summary
2. Building And Road Construction Equipment Market Characteristics
3. Building And Road Construction Equipment Market Trends And Strategies
4. Building And Road Construction Equipment Market - Macro Economic Scenario
5. Global Building And Road Construction Equipment Market Size and Growth
……
31. Global Building And Road Construction Equipment Market Competitive Benchmarking
32. Global Building And Road Construction Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Building And Road Construction Equipment Market
34. Building And Road Construction Equipment Market Future Outlook and Potential Analysis
35. Appendix
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