Construction Equipment Market is growing at a CAGR of 3.8% in the forecast period (2024-2031)

The factors influencing this growth include rapid urbanization in many parts of the developing world and increased focus by governments on improving existing structures. This surge is calling for the construction machinery referred to as excavators, loaders, and dump trucks among others. Therefore, it can be predicted that the global construction equipment market is going to grow much faster due to the increased development activities of infrastructure across the world which in turn would require earthmoving and material handling equipment. Higher expenditure by the government in improving current structures is fostering construction activities in emerging nations. For instance, India is currently pursuing an aggressive policy to improve its transport infrastructure to facilitate easy transportation of resources.

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Global Construction Equipment Market size was valued at USD 150.2 billion in 2022 and is poised to grow from USD 155.91 billion in 2023 to USD 210.11 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2024-2031).

Technological integration with the construction equipment is anticipated to see significant growth during the forecasted period. OEMs are eyeing this opportunity to enter the market with new products by diversifying their customer base in the construction equipment market. For instance, in January 2023, John Deere declared its new power farming and building equipment that runs on batteries. The company indicated that these new technologies were developed taking factors such as population growth, reduction in available and fertile land, and greenhouse gas emissions into perspective. There are various factors that a buyer looks for before investing in some construction equipment such as price, product quality, available options, and the company. Normally, the buyers sign long-term agreements with suppliers when it comes to construction equipment.

Market Segmentation:

Global Construction Equipment Market is segmented by Equipment Type, Equipment Category, Propulsion Type, Power Output, Engine Capacity, Application, and region.

Based on Equipment Type, the market can be segmented into Articulated Dump Trucks, Asphalt Finishers, Backhoe Loaders, Crawler Dozers, Crawler Excavators, Crawler Loaders, Mini Excavators, Motor Graders, Motor Scrapers, Rigid Dump Trucks, Road Rollers, Rough Terrain Lift Truck (RTLT) Masted, Rough Terrain Lift Truck (RTLT) Telescopic, Skid-Steer Loaders, Wheeled Excavators, Wheeled Loaders 80 HP, Compactors, Pick and Carry Cranes.
Based on Equipment Category, the market is segmented into Earthmoving Equipment, Material Handling Equipment, Heavy Construction Equipment, Others.
Based on Propulsion Type, the market is segmented into Diesel, CNG/LNG/RNG.
Based on power output, the market is segmented into 400 HP.
Based on engine capacity, the market is segmented 10L.
Based on application, the market is segmented Commercial, Residential, Infrastructure.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Construction Equipment Market Top Player's Company Profiles

Caterpillar Inc. (US)
Komatsu Ltd. (Japan)
Deere & Company (US)
Hitachi Construction Machinery Co., Ltd. (Japan)
xuzhou construction machinery group (China)
SANY Group (China)
AB Volvo (US)
Zoomlion Heavy Industry Science &Technology Co., Ltd. (China)
Wacker Neuson SE (Germany)
MANITOU Group (France)
Liebherr (Switzerland)
KUBOTA Corporation (Japan)
J C Bamford Excavators Ltd. (UK)
Hyundai Construction Equipment Co., Ltd. (India)
Escorts Limited (India)
Doosan Corporation (south Korea)
Deere & Company (US)
CNH Industrial America LLC. (UK)
Bell Equipment Limited (South Africa)

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Essential regions of the Construction Equipment market are:

• Construction Equipment North America Market includes (Canada, Mexico, USA)
• Construction Equipment Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
• Construction Equipment Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
• Construction Equipment South America Market includes (Brazil, Argentina)

FAQs: -

1. What are the sales, production, consumption, imports, and exports of the global market (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
2. Who are the major manufacturers who dominate the world market?
3. What are their current capacity, production, sales, pricing, cost, gross, and revenue operating levels?
4. What are the market's risks and opportunities?

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Construction Equipment industry.

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Objectives of the Study:

• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

Looking ahead, the Construction Equipment Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Construction Equipment Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.

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Table of Contents

Global Construction Equipment Market Research Report 2024-2031
Chapter 1 Construction Equipment Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Construction Equipment Market Forecast
...

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