Construction equipment market is estimated to reach $330 bn by 2031. This is due to the growing construction industry and massive investments in infrastructure development.
New York, Global Construction Equipment Market from Global Insight Services is the only authoritative source for intelligence on the Construction Equipment Market. The report will provide you with an analysis of the impact of the latest market disruptions such as the Russo-Ukrainian War and Covid-19 on the market. The report provides a qualitative analysis of the market using various frameworks such as Porters Analysis and PESTLE. The report includes in-depth segmentation and market size data by categories, product types, applications, and geographic regions. The report also includes a comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as mergers and acquisitions activities in the market.
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Key Players
- Caterpillar Inc.
- CNH Industrial
- Doosan Group
- Guangxi LiuGong Machinery Co.Ltd.
- Hitachi Construction Machinery Co. Ltd.
- J.C. Bamford Excavators Limited
- Deere & Company
- Kobelco Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Liebherr Group
Key Trends and Drivers
Some of the key trends in the construction equipment market include:
- Increasing demand for infrastructure development: The need for infrastructure development is increasing globally, especially in developing countries. This is due to the growing population and the rise in urbanization. As a result, there is a growing demand for construction equipment such as excavators, bulldozers, and cranes.
- Growing construction industry: The construction industry is growing due to the increasing demand for infrastructure development. This is resulting in the increased use of construction equipment.
- Increasing adoption of new technologies: Construction equipment manufacturers are increasingly adopting new technologies to improve the efficiency of their products. For instance, many manufacturers are now using 3D printing technology to create prototypes of new construction equipment. This helps to reduce the time and cost of developing new products.
- Growing demand for rental services: There is a growing demand for rental services of construction equipment due to the high cost of buying new equipment. This is especially beneficial for small and medium-sized construction companies.
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Restraints & Challenges
The construction equipment market is highly competitive with a large number of players. The industry is capital intensive and the products are typically expensive, which can act as a barrier to entry for new players. The market is also reliant on economic conditions, as construction activity is often linked to GDP growth. In addition, the industry is subject to strict environmental regulations, which can impact the types of equipment that can be used.
Market Segments
By Product
- Earthmoving & Roadbuilding Equipment
- Backhoes
- Excavators
- Loaders
- Compaction Equipment
- Others
- Material Handling and Crane
- Storage & Handling Equipment
- Engineered Systems
- Industrial Trucks
- Bulk Material Handling Equipment
- Others
- Concrete Equipment
- Concrete Pumps
- Crushers
- Transit Mixers
- Asphalt Pavers
- Batching Plants
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