Global Construction Equipment Market was valued at USD 208.3 billion in 2021 and is anticipated to register a CAGR of 3.8% during the forecast duration of 2022-2030, thereby reaching a valuation of USD 308.54 billion by the end of the analysis timeline.
The heavy gear needed to carry out construction activities is referred to as construction equipment, and the majority of it is utilised to carry out heavy jobs like earthwork. Heavy construction jobs may now be completed with less labour thanks to these machines, which primarily act mechanically.
Excavators, truck loaders, graders, and loaders are a few of the often used construction tools. Construction activity has increased significantly as a result of the world’s rapid urbanisation and economic development, which has opened the door for the growth of the construction equipment market globally.
The ability of construction equipment to effectively complete the heavy-duty tasks necessary in the construction industry increases market demand. Business expansion will be aided by construction companies and building contractors directing their attention to accelerating construction operations without sacrificing safety and security.
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Despite the fact that the construction industry is slowing, which is affecting sales of new construction equipment, the market is likely to recover throughout the projection period. The rising emphasis on public–private partnerships is expected to be one of the causes driving the growth (PPP). These collaborations are defined as a government-private sector joint venture for the construction of public infrastructure systems. A private firm manages a project and contributes technical and operational knowledge to government programmes in this sort of partnership. The construction equipment sector is predicted to develop due to the growing public-private partnerships in nations like India, Africa, and China. Furthermore, as the world’s population grows, so does the demand for infrastructure such as housing.
Global Construction Equipment Market: Segmentations
- CATERPILLAR INC.
- DEERE & COMPANY
- VOLVO GROUP
- HITACHI CONSTRUCTION MACHINERY CO., LTD
- LIEBHERR
- CNH INDUSTRIAL
- SANY HEAVY INDUSTRY CO., LTD
- XCMG
- DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD
- TEREX CORPORATION
- JCB
- ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD
- KUBOTA CORPORATION
- KOBELCO CONSTRUCTION MACHINERY CO., LTD.
- SUMITOMO HEAVY INDUSTRIES
- YANMAR CONSTRUCTION EQUIPMENT CO. LTD:
- SUMITOMO HEAVY INDUSTRIES CONSTRUCTION CRANES CO., LTD
- ATLAS COPCO AB
- WRITGEN GROUP
- HYUNDAI HEAVY INDUSTRIES
- AMMANN
- SANDVIK GROUP.
- ASTEC INDUSTRIES
- KOBE STEEL LTD.
- MANITOWOC
- GUANGXI LIUGONG MACHINERY CO., LIMITED.
By equipment Type-
- Asphalt Finisher
- Motor Grader
- Backhoe Loader
- Motor Scraper
- Crawler Dozer
- Articulated Dump Truck
- Crawler Excavator
- Rigid Dump Truck
- Crawler Loader
- Road Roller
- Mini Excavator
- Rough Terrain Lift Truck (RTLT) Masted
- Wheeled Excavator
- Rough Terrain Lift Truck (RTLT) Telescopic
- Wheeled Loader <80 HP
- Wheeled Loader >80 HP
- Pick and Carry Crane.
- Skid-Steer Loader
- Compactor
By Equipment Category
- Material Handling Equipment
- Heavy Construction Vehicle
- Earthmoving Equipment
- Others
By Power Output
- <100HP
- 101-200 HP
- 201-400 HP
- >400 HP
By Engine Capacity
- <5L
- 5L-10L
- >10L
By Propulsion Type
- Diesel
- CNG/LNG/RNG
By Application
- Commercial
- Residential
- Infrastructure
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Covid-19 Impact
The economic growth of the building industry has been significantly impacted by the coronavirus outbreak. Due to cancellations or delays, construction projects declined in several different countries. This is primarily due to the global shutdown that has caused operational limitations and supply chain interruptions. Due to decreased investment in the construction industry and a sharp reduction in demand for construction equipment, several construction companies have experienced financial difficulties. The market for construction services has been significantly impacted by the fall in demand from commercial and industrial buildings, infrastructure, and renovation projects. Due to travel restrictions and the fear of getting the virus, the construction industry has also experienced a labour shortage during the COVID-19 epidemic. Additionally, the new on-site guidelines, include the usage of social distance standards
FREQUENTLY ASKED QUESTIONS?
Q1. What is the total market value of heavy construction equipment market?
Q2. Which market holds the maximum market share of the heavy construction equipment market?
Q3. What will be heavy construction equipment market growth in 2030?
Q4. What are the key trends in the heavy construction equipment market?
Q5. What are the key growth strategies of heavy construction equipment industry players?
Q6. How the company profile has been selected?
Q7. What is the heavy construction equipment market effecting factors?
Q8. What is the end user of heavy construction equipment market?
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