Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Heavy Construction Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The heavy construction equipment industry is experiencing a monumental transformation, with global revenues poised to soar to an impressive $314.4 billion by 2030. This significant uptick comes as the market continues to rebound from the challenges posed by the recent global pandemic.
As of 2022, the heavy construction equipment market was valued at $165.3 billion, and it is forecasted to grow at a remarkable compound annual growth rate (CAGR) of 8.4% during the period from 2022 to 2030. This surge in growth reflects the industry's resilience and adaptability, driven by various factors, including increasing infrastructure development, rising demand for excavation and demolition equipment, and ongoing post-pandemic recovery efforts.
Excavation & Demolition Segment to Witness Striking 10.6% CAGR
One of the standout segments analyzed in this comprehensive report is Excavation & Demolition, which is projected to experience an impressive CAGR of 10.6%. By the end of the analysis period in 2030, this segment is expected to reach a substantial market value of $97.8 billion, underscoring the pivotal role it plays in the heavy construction equipment landscape.
U.S. Market Valued at $45 Billion; China's Growth at 12.7% CAGR
In the United States, the heavy construction equipment market is estimated to be worth $45 billion in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to demonstrate exceptional growth with a projected market size of $72.4 billion by 2030, propelled by an impressive CAGR of 12.7% between 2022 and 2030. Other noteworthy geographic markets include Japan and Canada, with growth rates of 5.4% and 7%, respectively, over the 2022-2030 period. Germany is set to grow at approximately 6.5% CAGR within Europe.
A Comprehensive Global Analysis
This comprehensive analysis delves into the global heavy construction equipment market across various geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa. It spans from 2014 through 2030, offering insights into past, current, and future trends while projecting annual sales in US$ million.
The report also provides a breakdown of value sales in key regions, offering a 16-year perspective to highlight the industry's evolution. Specific segments within the heavy construction equipment market, such as excavation & demolition, heavy lifting, material handling, tunneling, transportation, recycling & waste management, oil & gas, manufacturing, and other end-uses, are analyzed. This in-depth assessment aids in understanding the dynamics, growth prospects, and market trends within the heavy construction equipment industry across diverse global markets.
Key Competitors in the Spotlight
The report highlights key competitors in the heavy construction equipment market, providing critical insights into their market presence across multiple geographies, from strong and active players to niche and trivial contributors. Some of the prominent players in the industry include:
- AB Volvo
- Caterpillar, Inc.
- CNH Industrial N.V.
- Deere & Company
- Doosan Infracore Ltd.
- Hitachi Construction Machinery Co., Ltd.
- Hyundai Heavy Industries Co., Ltd.
- JCB Ltd.
- Komatsu Ltd.
- Liebherr AG
- Sany Heavy Equipment International Holdings Co., Ltd
- Terex Corporation
- Volvo Construction Equipment
- XCMG Group
- Xuzhou Construction Machinery Group Co., Ltd.
What's New in this Report?
In addition to the invaluable market insights provided, this report offers special coverage on significant global events and trends, including the Russia-Ukraine war, global inflation dynamics, the easing of China's zero-Covid policy and its 'bumpy' reopening, supply chain disruptions, global trade tensions, and the looming risk of recession. Furthermore, the report includes data on global competitiveness and key competitor percentage market shares, providing a comprehensive view of the competitive landscape.
Key Attributes of the Report:
- No. of Pages: 93
- Forecast Period: 2022 - 2030
- Estimated Market Value (USD) in 2022: $165.3 Billion
- Forecasted Market Value (USD) by 2030: $314.4 Billion
- Compound Annual Growth Rate: 8.4%
- Regions Covered: Global
For more information about this report visit https://www.researchandmarkets.com/r/ntbgk8
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