Construction Equipment Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Construction Equipment Market  : By Concrete Equipment (Transit, Concrete Pumps Asphalt Pavers, Crushers, Mixers, Batching Plants,), by Product (Compaction Equipment, Excavators, Loaders, Earthmoving & Road Building Equipment Backhoes and Others), Material Handling & Cranes (Engineered Systems, Bulk Material Handling Equipment, Industrial Trucks, Storage & Handling Equipment), Industry Analysis Report, Regional Outlook (North America, Central & South America, Asia Pacific, Europe, Post-Soviet States, Middle East, Africa) Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

 

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Report

Description

The construction equipment market was valued at USD 162 billion in 2020, and it is anticipated to reach USD 229 billion by 2027, registering a CAGR of over 6.1% during the forecast period 2021 -2027. Construction equipment is a type of machinery designed used for the purpose of performing construction operations. Such equipment is also used for various functions like grading, drilling, hauling, paving, and excavating. Different industries come under construction equipment markets like oil & gas, construction & infrastructure, and manufacturing. Even if, the construction sector is low presently and affecting the sales of construction equipment, the market is anticipated to recover during the estimated period soon. The construction industry is slowing, which is harming new construction equipment sales; nevertheless, the market is likely to improve throughout the forecast 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 joint venture between the government and the private sector for the construction of public infrastructure. There are several manufacturers entering into offering rental services to encourage the demand for construction equipment. Consequently, it will enable manufacturers to provide rental as well as leasing services. For example, Hyundai Construction Equipment firm provides such leasing and rental services to customers and this will drive the construction equipment market growth. In spite of the negative impact of COVID-19 on the construction industry, it stated setting to recover traction by 2021 because of the government initiatives for augmenting as well as stabilizing the financial circumstance caused by COVID-19. US Transportation Department made an announcement of doing investment through the infrastructure to rebuild America discretionary grant program. As a result, this investment is evaluated to increase the construction equipment use and drive their demand in the market.

 

 


Construction Equipment Market

MARKET SUMMARY
-
6.1%
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR–6.1%
  • Largest Market–Asia-Pacific
  • Fastest Growing Market–Europe

Construction Equipment Market

  • Public-private partnerships are the leading reason of construction equipment industry market growth. These partnerships refer to a joint venture between private sector and government sector companies to build public infrastructure systems.
  • Increasing public private partnerships in various countries like China. India, Africa is anticipated to boost the construction equipment market growth. Another prominent reason to drive the market growth is increasing urbanization around the world leads to increase in demand for building infrastructure like transportation and residential.
  • Technology advances are anticipated to create profitable opportunities for industry players of the market. Another significant market driving factor is increasing number of smart city projects. Increasing demand for backhoe loaders, huge excavators and heavy construction equipment lead to drive the market growth. There are some factors like carbon emission and government guidelines can contribute in restraining the market growth. High price of oil and equipment can hinder the market growth.
Market Key Players
  • Caterpillar
  • AB Volvo
  • Komatsu Ltd.
  • CNH Industrial N.V.
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co., Ltd.
  • Terex Corporation
  • Deere & Company
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Sandvik AB
Growth

Construction Equipment Market

Construction equipment is machinery made specifically for the purpose of carrying out construction projects. Mechanically, construction equipment is strong and long-lasting. Construction equipment reduces the reliance on human labour and saves a significant amount of time and effort. The root cause of the construction equipment market’s rapid expansion is the growing number of end-use applications for the equipment. Growing infrastructure development and building activity, particularly in developing nations, would provide lucrative growth possibilities for the construction equipment industry. Construction equipment demand would continue to rise as a result of rising industrialization and massive investments in the construction sector to meet industrial and residential infrastructure needs. The high expenses of investing in construction equipment, on the other hand, will represent a significant obstacle to the market’s growth pace. The construction equipment market’s development potential will be further limited as machine oil prices rise.


Asia-Pacific Got Significant Share

Construction Equipment Market

The Asia Pacific region was considered as the most profitable region in this sector. It covered the market profit size of almost USD 60 billion in the year 2019 and is evaluated to expand at a CAGR of 4.9% during the forecast period. China also witnessed a powerful performance in the year 2019 as the investment in infrastructure is increased.. Heavy commercial truck sales and excavator recorded great performance last year as a result of the increasing number of construction projects. China is another crucial contributor in the manufacturing construction equipment because of the low production price, availability of best manufacturing facilities in the region, low labor cost and several OEMs. On the other hand, Corona Virus pandemic created negative effect on the manufacturing as well as supply chain sector. The European region is witnessing a positive outlook in the construction segment, which has led to the increasing demand for construction equipment. Increasing demand for technologically advanced machinery in North American region is driving the construction equipment market growth.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2020) and forecast (2021 to 2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Construction Equipment Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Caterpillar
  • AB Volvo
  • Komatsu Ltd.
  • CNH Industrial N.V.
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co., Ltd.
  • Terex Corporation
  • Deere & Company
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Sandvik AB
  • WIRTGEN GROUP
  • Ammann Group
  • The Manitowoc Company, Inc.
  • ASTEC INDUSTRIES, INC
  • Doosan Corporation
  • XCMG Group
  • Hyundai Heavy Industries Co., Ltd
  • SANY Group

Description

The construction equipment market was valued at USD 162 billion in 2020, and it is anticipated to reach USD 229 billion by 2027, registering a CAGR of over 6.1% during the forecast period 2021 -2027. Construction equipment is a type of machinery designed used for the purpose of performing construction operations. Such equipment is also used for various functions like grading, drilling, hauling, paving, and excavating. Different industries come under construction equipment markets like oil & gas, construction & infrastructure, and manufacturing. Even if, the construction sector is low presently and affecting the sales of construction equipment, the market is anticipated to recover during the estimated period soon. The construction industry is slowing, which is harming new construction equipment sales; nevertheless, the market is likely to improve throughout the forecast 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 joint venture between the government and the private sector for the construction of public infrastructure. There are several manufacturers entering into offering rental services to encourage the demand for construction equipment. Consequently, it will enable manufacturers to provide rental as well as leasing services. For example, Hyundai Construction Equipment firm provides such leasing and rental services to customers and this will drive the construction equipment market growth. In spite of the negative impact of COVID-19 on the construction industry, it stated setting to recover traction by 2021 because of the government initiatives for augmenting as well as stabilizing the financial circumstance caused by COVID-19. US Transportation Department made an announcement of doing investment through the infrastructure to rebuild America discretionary grant program. As a result, this investment is evaluated to increase the construction equipment use and drive their demand in the market.

 

 

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