Global Construction Equipment Market To Hit $322 Billion by 2031, according to the Latest Report Published by Allied Market Research
The construction equipment market has witnessed significant growth over the past decade, owing to expansion of building and construction industries. In addition, increase in government investments in development of new roads and infrastructure and upgrading existing roads, highways and bridges has provided lucrative growth in the market. Also, the expansion of oil and gas as well as mining sector has created growth opportunity for construction equipment
“The construction equipment market size was valued at $201.9 billion in 2021, and is estimated to reach $322.0 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031” stated the report published by Allied Market Research. The report offers a detailed analysis of the construction equipment market including major growth factors, constraints, challenges, and opportunities. Moreover, the report includes a study of key market players and top investment pockets that are currently operating in the industry. The report includes a study of recent market strategies performed by market players to help stakeholders, new market entrants, and shareholders to devise lucrative business strategies.
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The construction equipment market report offers a detailed analysis of major strategies adopted by market players to maintain their foothold in the industry. The report outlines the quantitative and qualitative analysis of historic and forecast periods along with research on recent market developments and business strategies. Furthermore, the research offers a summary of the market, ongoing market trends, and future estimations to help leverage market opportunities and formulate profitable business strategies. The report covers an overview of the market coupled with a SWOT analysis of major market players and Porter’s Five analysis, which is essential to gain competitive intelligence.
The report offers downstream customer surveys, upstream raw materials, industry development trends, and marketing channels. This study provides comprehensive information about raw materials suppliers, major manufacturing equipment suppliers, major distributors, and major customers.
Key segmentation:
The construction equipment market report covers the segmentation of the construction equipment market on the basis of type, application, end users, and geography. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.
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The construction equipmentX market is studied on the basis of geographical penetration coupled with a study of market performance in every region including across several regions such as North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The construction equipment market report involves a detailed overview of the market and SWOT analysis of the prime industry players which includes a business overview, financial analysis, and portfolio analysis of services and products. Furthermore, the report covers include the latest market developments including market expansion, joint ventures, and product launches for stakeholders to know the long-term profitability of the industry.
Covid-19 impact analysis on the construction equipment market:
The Covid-19 pandemic hit almost all sectors across the globe. The government restrictions and guidelines issued by World Health Organization (WHO) have temporarily suspended the manufacturing facilities. In addition, the prolonged lockdown across several countries led to disruption of the supply chain and increased raw material prices. Such factors affected the global construction equipment market. The report offers an in-depth analysis of the impact of the Covid-19 outbreak on the market.
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Key market players
The global construction equipment market report covers a detailed study of major market players. The competitive analysis of these companies offers a detailed overview and portfolio analysis of services and products. These market players have adopted several strategies including new product launches, partnerships, joint ventures, collaboration, and mergers & acquisitions to maintain their market position.
Market Players
- AB VOLVO
- CATERPILLAR INC.
- CNH Industrial N.V.
- DEERE & COMPANY
- DOOSAN INFRACORE CO. LTD.
- HITACHI LTD.
- J C BAMFORD EXCAVATORS LTD.
- KOMATSU LTD.
- Liebherr-International AG
- XCMG GROUP
Market Segments
- By Solution Type
- Products
- Services
- By Equipment Type
- Heavy construction equipment
- Compact construction equipment
- By Type
- Loader
- Cranes
- Forklift
- Excavator
- Dozers
- Others
- By Application
- Excavation and Mining
- Lifting and Material handling
- Earth Moving
- Transportation
- Others