North America Construction Equipment Market Growth Insights, Size, Share, Trends and Forecast by 2031 | At a CAGR of 4.4%

North America is a big market for different types of construction equipment owing to various development projects. Many key players in the market offer various types of construction equipment product and services. Thus, the report is bifurcated on the basis of products, and services under solutions type. Among these, the services segment is expected to grow with a higher CAGR during the forecast period.

The North America construction equipment market size was valued at $51.6 billion in 2021 and is projected to reach $79.7 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031.

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Under equipment type, the construction equipment is also bifurcated on the basis of its size and capacity, which includes heavy construction equipment and compact construction equipment. Out of these, heavy construction equipment accounted for a major market share in 2021 owing to their utilization in major operations and higher prices of heavy equipment. Moreover, compact construction equipment market is expected to witness a higher CAGR during the forecast period. Compact construction equipment does not necessitate certified & skilled workers and is considerably easier to operate unlike heavy machinery.

Furthermore, lower costs of compact equipment boost their adoption in end-user industries. Moreover, construction equipment is of various types, such as wheel bulldozers, front loaders, dump trucks, backhoe loaders, graders, crawler dozers, compactors, excavators, forklifts, concrete mixer truck, and others. Among these, the excavator segment accounted for the highest market share. This is attributed to its versatility which increases its scope of usage. In addition, forklifts segment is expected to grow with a significant CAGR.

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The market is mainly driven by the rise in the number of residential and commercial buildings due to urbanization, increased investment in infrastructure development, and growth in the popularity of robust and compact equipment. However, strict government regulations against carbon emissions negatively impact the growth of the market. Technological advancements in construction equipment, on the other hand, are expected to provide growth opportunities to the market.

Competition Analysis:
Competitive analysis and profiles of the major players in the construction equipment end-user, such as Astec, Inc., Caterpillar Inc., Deere and Co, Hyundai Doosan Infracore North America, LLC, Hitachi America, Ltd., Komatsu Ltd., Liebherr USA Co., SANY America, Inc., and Volvo Group are provided in this report.

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Table of Content:

Chapter 1 : INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

Chapter 2 : EXECUTIVE SUMMARY
2.1.CXO Perspective

Chapter 3 : MARKET OVERVIEW
3.1.Market definition and scope
3.1.1.Top investment pockets

3.2.Porter's five forces analysis
3.2.1.Bargaining power of suppliers
3.2.2.Bargaining power of buyers
3.2.3.Threat of substitution
3.2.4.Threat of new entrants
3.2.5.Intensity of competitive rivalry

3.3.Market Dynamics
3.3.1.Drivers
3.3.1.1.Rise in the number of residential and commercial buildings due to urbanization
3.3.1.2.Increased investment in infrastructure development
3.3.1.3.Growth in popularity toward robust and compact equipment
3.3.2.Restraints
3.3.2.1.Carbon Emissions from Equipment
3.3.3.Opportunities
3.3.3.1.Technological Innovations

3.4.COVID 19 Impact Analysis

Chapter 4 : NORTH AMERICA CONSTRUCTION EQUIPMENT MARKET, BY SOLUTION TYPE
4.1.Market overview
4.1.1.Market size and forecast

4.2.Products
4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by country

4.3.Services
4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by country

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