Agriculture, Construction, And Mining Machinery Market Size, Trends, Share Analysis And Report 2024-2032

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2058

The Business Research Company presents an extensive market research report on the Agriculture, Construction, And Mining Machinery Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The agriculture, construction, and mining machinery market size has grown strongly in recent years. It will grow from $732.9 billion in 2023 to $790.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to global population growth, rise in mechanized agriculture, urbanization, mining exploration and extraction, environmental regulations, globalization and trade.

The agriculture, construction, and mining machinery market size is expected to see strong growth in the next few years. It will grow to $1055.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to advancements in autonomous machinery, infrastructure development projects, circular economy practices, energy-efficient construction practices, focus on safety standards. Major trends in the forecast period include emission control technologies, human-machine collaboration, customization for specific industries, electric and hybrid solutions, mining automation and robotics.

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Key Market Players:

Major companies operating in the agriculture, construction, and mining machinery market report are LG Electronics Inc., Caterpillar Inc., Deere & Company, Zoomlion Heavy Industry Science and Technology Co. Ltd., Volvo AB, EXOR Group, Komatsu Ltd., Case New Holland, CNH Industrial NV, Scania AB, Kubota Corp., Mahindra & Mahindra Limited, Liebherr Group, Atlas Copco AB, AGCO Corporation, Massey Ferguson Limited, Sauer-Danfloy GmbH, Alamo Group Incorporated, Sany Group, Astec Industries Inc., Kawasaki Motors Corporation, Berco S.p.A., Scyscaps, Ascom Group S.A., Poclain S.A., Bennington Company, Bomag GmbH, Seppi, SampoRlei SpA, Schnieder-Werkerle GmbH

Market Drivers:

The agriculture, construction, and mining machinery manufacturing market growth are aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China's gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.

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The agriculture, construction, and mining machinery market covered in this report is segmented -

1) By Type: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery
2) By Operation: Autonomous, Semi-Autonomous, Manual
3) By Capacity: Small, Medium, Large

Subsegments Covered: Earthmoving, Material Handling, Building & Road Construction Equipment, Farm Machinery And Equipment, Sanitary Paper Product, Stationery Products, Paper Bag And Coated And Treated Paper, Oil & Gas Field Machinery And Equipment, Mining Machinery And Equipment

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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