Construction Equipment Market is Projected to Reach US$ 231.53 Billion in 2028

Raipur, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Construction Equipment Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Construction Equipment Market is driven by a host of factors, some of which are noted below:

  • High demand for robust residential and commercial infrastructure, growing urbanization across the world.
  • This market growth is mainly attributed to the high demand for robust residential and commercial infrastructure along with growing urbanization across the world.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Construction Equipment Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Product Type (Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment, and Others], Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, and Bulk Material Handling Equipment], and Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, and Batching Plants]),
  • By Region (North America, Europe, Asia-Pacific, and Rest of the World).

Construction Equipment Market Insights

Market Trends by Product Trends

The market is segmented as earthmoving and road-building equipment, material handling & cranes, and concrete equipment. The earthmoving and road-building equipment segment led the market with share of more than 59% in 2021 and is expected to maintain its dominance during the forecast period. Compaction equipment, excavators, loaders, and backhoes are the machines included in this segment.

Which region offers the best opportunity and growth?

Asia-Pacific is accounted share of more than 39% and is expected to register a CAGR of more than 4.1% in 2021, owing to the emergence of online retail services, availability of machines on rental basis, and increasing government investments in infrastructure development in the region.

COVID-19 Impact on the Construction Equipment Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here: 

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -

  • Komatsu Ltd.
  • John Deere
  • Sany Group
  • Hitachi Construction Machinery Co. Ltd.
  • CNH Industrial
  • Volvo Construction Equipment
  • Caterpillar, Inc.
  • XCMG Group
  • Kobelco Construction Machinery Ltd.
  • Terex Corporation.

What deliverables will you get in this report?

  • In-depth analysis of the Construction Equipment Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

  1. Construction Machinery Tires Market
  2. Construction Additives Market

About us –

Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.

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