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Construction Equipment Market Forecast Projected Growth to USD 263.80 Billion by 2030

12-13-2024 12:07 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT.LTD

Construction Equipment Market

Construction Equipment Market

๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ ๐š๐ง๐ ๐Š๐ž๐ฒ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

The global construction equipment market is experiencing robust growth, driven by increased infrastructure development, urbanization, and technological advancements. According to a recent market analysis, the construction equipment market size is poised to reach USD 215.6 billion by 2031, with a CAGR of 4.8% during the forecast period (2024-2031). This growth is being fueled by a rise in construction activities, the demand for automation in construction processes, and the introduction of advanced machinery in the industry.

The key players in this space, including ๐‚๐š๐ญ๐ž๐ซ๐ฉ๐ข๐ฅ๐ฅ๐š๐ซ ๐ˆ๐ง๐œ., ๐Š๐จ๐ฆ๐š๐ญ๐ฌ๐ฎ ๐‹๐ญ๐., ๐‡๐ข๐ญ๐š๐œ๐ก๐ข ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐Œ๐š๐œ๐ก๐ข๐ง๐ž๐ซ๐ฒ, and ๐‹๐ข๐ž๐›๐ก๐ž๐ซ๐ซ ๐†๐ซ๐จ๐ฎ๐ฉ, are consistently innovating and expanding their product portfolios. The adoption of electric-powered machinery and the increasing preference for autonomous equipment are expected to shape the future of the construction equipment market.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/44733/

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ - Smart construction equipment with IoT, GPS, and telematics capabilities is gaining traction, enhancing efficiency and reducing operational costs.

๐’๐ฎ๐ฌ๐ญ๐š๐ข๐ง๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ - The shift toward energy-efficient and environmentally friendly construction equipment is becoming more prominent.

๐€๐ฎ๐ญ๐จ๐ง๐จ๐ฆ๐จ๐ฎ๐ฌ ๐Œ๐š๐œ๐ก๐ข๐ง๐ž๐ซ๐ฒ - Autonomous vehicles and machines are becoming a key focus for reducing human labor and improving safety on construction sites.
๐†๐ซ๐จ๐ฐ๐ข๐ง๐  ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐Ÿ๐จ๐ซ ๐‘๐ž๐ง๐ญ๐š๐ฅ ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ - The increasing demand for renting construction equipment rather than owning it, especially in developing countries, is opening up new revenue streams for market players.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam's construction equipment market is experiencing a surge due to rapid infrastructure development and government-driven construction projects. The country's CAGR of 7.2% is one of the highest in the Southeast Asian region. Vietnam's real estate boom and government initiatives such as ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ 2030 ๐•๐ข๐ฌ๐ข๐จ๐ง are attracting foreign investments, including mergers and acquisitions (M&A), driving further industry growth.

๐Š๐ž๐ฒ ๐Œ&๐€ ๐€๐œ๐ญ๐ข๐ฏ๐ข๐ญ๐ฒ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ:

๐’๐€๐๐˜ ๐†๐ซ๐จ๐ฎ๐ฉ and ๐•๐ข๐ž๐ญ๐œ๐จ๐ฆ๐›๐š๐ง๐ค have entered into a strategic partnership to expand their construction machinery operations in Vietnam. This move aims to strengthen SANY's presence in the Southeast Asian market and take advantage of the booming infrastructure sector in Vietnam.

๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

The Thai construction equipment market is predicted to grow at a CAGR of 5.5% due to the government's focus on large-scale infrastructure projects such as highways, railways, and airports. The country's emphasis on smart cities and urbanization projects is driving the demand for advanced construction machinery.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/44733/

๐Š๐ž๐ฒ ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐:

Thailand's strategic location in Southeast Asia is encouraging multinational companies to establish their regional headquarters here, offering significant growth opportunities for the construction equipment market.
๐Š๐จ๐›๐ž๐ฅ๐œ๐จ ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐Œ๐š๐œ๐ก๐ข๐ง๐ž๐ซ๐ฒ recently expanded its manufacturing plant in Thailand, which will increase production capacity and meet the growing demand for heavy construction equipment in the region.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan remains one of the most technologically advanced markets for construction equipment. The Japanese construction equipment market is forecasted to grow at a CAGR of 4.0%. The country's emphasis on robotics, automation, and AI-integrated equipment is leading to a shift in construction methodologies.

๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง:

Komatsu Ltd. launched its line of autonomous mining trucks, setting the trend for automation in the heavy machinery sector in Japan.
The Japanese government has introduced new regulations promoting the adoption of green construction practices, driving the demand for eco-friendly construction equipment.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

The construction equipment industry in South Korea is going through a period of consolidation, with larger players merging to create more comprehensive solutions for the construction sector. The market is expected to grow at a CAGR of 5.0% due to increasing infrastructure development and the integration of smart technologies.

๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ & ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š:

Doosan Infracore, a leading South Korean construction equipment manufacturer, merged with ๐‡๐ฒ๐ฎ๐ง๐๐š๐ข ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ to strengthen its position in the global market. This merger will lead to better resource management and enhanced technological innovation.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/44733/

๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore's construction equipment market is seeing gradual but steady growth at a CAGR of 4.2%. The government's focus on sustainable construction practices and the rise of smart city initiatives are key drivers in this growth. The adoption of electric-powered equipment and green construction solutions is high on the agenda.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž:

Liebherr and Sika Singapore have partnered to develop a new range of environmentally friendly construction machinery for the growing demand in the region.

Singapore's infrastructure development plans have attracted global construction equipment firms, especially in the high-tech and energy-efficient machinery segment.

๐”๐’ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐š๐ง๐ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง

The United States holds a substantial share in the global construction equipment market. The US market is expected to grow at a CAGR of 3.5%, supported by ongoing urbanization, increased investments in construction projects, and advancements in machine automation.

๐Š๐ž๐ฒ ๐Œ&๐€ ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐”๐’:

Caterpillar Inc. expanded its global footprint by acquiring ๐‚๐Œ๐ˆ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, a leading manufacturer of road construction equipment, enabling it to strengthen its product portfolio and market presence in North America.
The increasing adoption of automation and robotics in the US construction sector has spurred innovation among key players like ๐‚๐š๐ญ๐ž๐ซ๐ฉ๐ข๐ฅ๐ฅ๐š๐ซ ๐ˆ๐ง๐œ., ๐ƒ๐ž๐ž๐ซ๐ž & ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ฒ, and ๐Š๐จ๐ฆ๐š๐ญ๐ฌ๐ฎ ๐‹๐ญ๐.

๐„๐ฎ๐ซ๐จ๐ฉ๐ž๐š๐ง ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ

Europe is one of the most dynamic regions for construction equipment, with the market expected to grow at a CAGR of 3.8%. The demand for eco-friendly and high-tech construction solutions is rising, driven by urban regeneration and infrastructure projects across major European nations.

๐Š๐ž๐ฒ ๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ & ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž:

๐‹๐ข๐ž๐›๐ก๐ž๐ซ๐ซ ๐†๐ซ๐จ๐ฎ๐ฉ has made significant strides by acquiring a majority stake in ๐€๐ฆ๐ฆ๐š๐ง๐ง ๐†๐ซ๐จ๐ฎ๐ฉ, a leading player in road construction equipment, further solidifying Liebherr's position in the European market.
๐•๐จ๐ฅ๐ฏ๐จ ๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ has also focused on sustainability by introducing hybrid construction machinery to cater to the European market's growing demand for environmentally friendly products.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/market-report/global-construction-equipment-market/44733/

๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐›๐ฒ ๐“๐ฒ๐ฉ๐ž

Loader
Crane
Forklift
Excavator
Dozer
Others

๐›๐ฒ ๐๐จ๐ฐ๐ž๐ซ ๐Ž๐ฎ๐ญ๐ฉ๐ฎ๐ญ

400 HP

๐›๐ฒ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐ž๐ฌ

Oil & Gas

Infrastructure
Forestry & Agricultural
Manufacturing
Military
Mining

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Earth moving
Transportation
Excavation & Demolition
Heavy Lifting
Tunneling
Material Handling
Recycling & Waste Management

๐‚๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

1. Caterpillar
2. Hitachi Construction Machinery
3. Komatsu Ltd.
4. SANY Group
5. Xuzhou Construction Machinery Group
6. JCB
7. Doosan Corporation
8. Atlas Copco
9. Deere & Company
10. Bomag
11. CASE Construction Equipment
12. Ammann Group
13. Hamm AG
14. Martin Trailer Company
15. MBW Inc.
16. Thetford International
17. Altrad Belle
18. CNH Industrial America LLC
19. AB Volvo
20. Zoomlion Heavy Industry Science and Technology Co., Ltd

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐–๐ก๐š๐ญ'๐ฌ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐ :

โ™ฆ Global Hygienic And Aseptic Valves Market https://www.maximizemarketresearch.com/market-report/global-hygienic-and-aseptic-valves-market/39483/

โ™ฆ Global Industrial Dispensing System And Equipment Market https://www.maximizemarketresearch.com/market-report/global-industrial-dispensing-system-and-equipment-market/31809/

โ™ฆ Global Industrial Dryers Market https://www.maximizemarketresearch.com/market-report/global-industrial-dryers-market/95314/

โ™ฆ Global Industrial Ethernet Switch Market https://www.maximizemarketresearch.com/market-report/global-industrial-ethernet-switch-market/14535/

โ™ฆ Global Industrial Hemp Market https://www.maximizemarketresearch.com/market-report/global-industrial-hemp-market/33440/

โ™ฆ Global Industrial Protective Footwear Market https://www.maximizemarketresearch.com/market-report/global-industrial-protective-footwear-market/21853/

โ™ฆ Global Interior Doors Market https://www.maximizemarketresearch.com/market-report/global-interior-doors-market/98456/

โ™ฆ Global Iot Market By Technology https://www.maximizemarketresearch.com/market-report/global-iot-market-by-technology/10566/

โ™ฆ Global Kitchen Faucets Market https://www.maximizemarketresearch.com/market-report/global-kitchen-faucets-market/116051/

โ™ฆ Global Laser Measuring Instrument Market https://www.maximizemarketresearch.com/market-report/global-laser-measuring-instrument-market/105769/

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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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