A recently concluded Fact.MR report on the construction equipment market projects that demand is forecast to increase at a CAGR of 4% from 2022 to 2032, reaching US$ 174 Bn by the end of the aforementioned assessment period. Increasing commercial and residential infrastructure projects, especially in Asia, is expected to drive market growth positively.
Demand for construction equipment registered a value CAGR of 2.8% from 2015 to 2021, reaching a value of US$ 113 Bn. Prospects were significantly disrupted during the COVID-19 pandemic, with construction activity completely ceasing in the first 3 quarters of 2020. Eventually, as restrictions on public activity lifted, prospects have been exhibiting a gradual recovery.
Throughout the world, infrastructure projects are flourishing, and heavy excavators are being used to build dams and highways, which has led to a strong market for earthmoving machinery. During the forecast period, the excavators sub-segment is projected to grow moderately. This market is expected to grow 1.4x during the forecast period.
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Construction Equipment Market – Scope of Report:
A latest publication by Fact.MR on the global Construction Equipment market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.
The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.
The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2022-2032.
Important indicators for the successful growth of the Construction Equipment market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.
This research study can support readers to know the demand for Construction Equipment supplements, and the quantitative development opportunities during the study period.
The research is beneficial for shareholders in Construction Equipment , including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.
Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.
Key Manufacturers of Construction Equipment
There are many key players in the market, which makes it highly competitive. Many OEMs are currently facing short-term challenges, such as a shortage of skilled employees and high raw material prices. As OEMs adopt organic and inorganic growth strategies, they are expected to expand their customer bases and strengthen their market positions through joint ventures, partnerships, and mergers and acquisitions.
- In January 2021, Komatsu Ltd. and Honda Motor Co., Ltd. signed a joint development agreement. Komatsu and Honda collaborated on electrifying Micro Excavators (PCO1) and developing Battery Power Packs (MPP) for use in construction equipment.
- Manitex Vall launched their new electric mobile crane, the V 110 R, in February 2021. It has a lifting height of 10.4 meters and a lifting capacity of up to 11,000 kg and is battery-operated and remote-controlled.
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Report benefits & key questions answered
- Post covid consumer spending on Construction Equipment : the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
- Construction Equipment demand outlook: the market intelligence study reports highlights the factor propelling the demand for Construction Equipment . As per the study, the demand for Construction Equipment will grow through 2032.
- Construction Equipment historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2022-2032.
- Construction Equipment consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.
Construction Equipment Market Segmentations:
- Earth Moving Machinery
- Construction Material Handling Machinery
- Crawler Cranes
- Trailer Mounted Cranes
- Truck Mounted Cranes
- Concrete and Road Construction Machinery
- Concrete Mixer & Pavers
- Construction Pumps
- Earth Moving Machinery
- North Ameica
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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