Construction Equipment Market to Touch 160.84 Billion by 2027; Increasing Infrastructure Worldwide to Bolster Market Prospects: Fortune Business Insights™

List of the Companies Profiled in the Market: AB Volvo,Caterpillar Inc,Komatsu Ltd,Doosan Infracore Co. Ltd,Hitachi Construction Machinery Co., Ltd,J.C. Bamford Excavators Ltd,Liebherr Group,CNH Industrial N.V,Hyundai Construction Equipment Co., Ltd,SANY Group

Pune INDIA


Pune, India, May 25, 2021 (GLOBE NEWSWIRE) -- The global construction equipment market size is projected to reach USD 160.84 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period suggests Fortune Business Insights™ in its report, titled “Construction Equipment Market, 2020-2027”. The demand for construction equipment upsurged due to shift from traditional to automated equipment as consumers are retro filling and renovating the old technology.

COVID-19 Impact

The COVID-19 pandemic has led to a severe economic downturn, impacting industries and businesses in a variety of ways. The construction equipment industry was also paralyzed by the pandemic impact. According to a report by Committee for European Construction Equipment due to pandemic 60% of European construction activities were at a halt. Another report by the Association General Construction of America stated that in the US construction projects witnessed a decline of USD 160 billion.

Segmentation

 By equipment type, the market is divided into earthmoving equipment, material handling equipment and cranes, concrete equipment, road building equipment, civil engineering equipment, and crushing & screening equipment.

  • Based on the equipment type, the crushing & screening equipment segment held a global construction equipment market share of about 53.4% in 2020. The segment is expected to experience considerable growth backed by its demand in mining applications.

Based on application the market is trifurcated into residential, commercial and industrial. Lastly, in terms of geography, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa and Latin America.

Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/construction-equipment-market-100521

Highlights of the Report

The global market for construction equipment report gives a thorough analysis of the latest market trends, top market segments, and factors that are majorly driving the market. The different market segments and their regional analysis are also comprehensively discussed in the report. Additionally, the report talks about the dominant strategies adopted by key market players and the impact of COVID-19 on the market.

Please Visit: https://www.fortunebusinessinsights.com/industry-reports/construction-equipment-market-100521

Drivers and Restraints

Demand for Technological Advanced Equipment to Propel Growth

The increasing demand for fuel efficient and technologically advanced equipment is expected to drive the global construction equipment market growth during the forecast period. For instance, Black Cat Civil, which is an Australian Company, set up next gen excavators. These excavators are highly durable, consumes low fuel up to 20% less than traditional ones and increases the productivity. In addition to this, significant investments by government agencies in construction sector is expected to propel the demand for the product in the forthcoming year.

On the contrary, these equipment are major source to pollution, and degradation of ozone layer as they emit several non-volatile gases such as nitric oxide and carbon monoxide. Thus hampering the market as they are contributing toward global warming.

Regional Insights

Asia Pacific to Remain Forefront; Developing Infrastructure to Aid Growth

Asia Pacific is expected to dominate the market as the market stood at 50.09 billion in 2018 and 51.60 billion in 2019. Emergence of online retailers and rental services over these equipment is driving the market. Also developing infrastructure in China and India is expected to promote the market. As in 2017, Chinese government vision to develop One Belt One Road Project and 21st century Marantime Silk Road to improve water transport connectivity, the estimated cost of this project was  4 trillion. Therefore such advanced projects are expected to drive the regional market.

The market in Europe is expected to experience significant growth during the forecast period. This is attributable to the increasing focus on the development of residential sector that will propel the demand for construction equipment.

Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/construction-equipment-market-100521

Competitive Landscape

Product Launch by Key Players to Expand their Product Portfolio

The global market for construction equipment is consolidated by prominent companies focusing on investing in the development of next generation equipment to cater to the growing construction demand. For example, in November 2018, Caterpillar Inc. introduced Next Generation D6 dozer. This dozer has better fuel efficacy compared to previous models.  Moreover, other key players are adopting proactive strategies such as merger and acquisition, partnerships, and facility expansion that will favor the growth of the market in the forthcoming years.

Industry Developments

October 2019:  Volvo Construction Equipment introduced its electric compact wheel loader. This machine will be used in tree farming and it will be emission free wheel loader for various purposes such as grading, sweeping and pallet handling

August 2019: Doosan Construction Equipment launched various excavators such as V DX27z, DX62R-3. DX35z. DX8SR-3 mini excavators and DX800LC-58 80-ton excavator and several others. The company also launched Stage V compliant articulated dump trucks (ADTS) and wheel loaders.

List of the Key Players Profiled in the Global Market for Construction Equipment

  • Caterpillar Inc.
  • Komatsu Ltd.
  • Doosan Infracore Co. Ltd .
  • Hitachi Construction Machinery Co., Ltd.
  • L.C. Bamford Excavators Ltd
  • Liebherr Group
  • CNH Industrial N.V. (London, U.K.)
  • Hyundai Construction Equipment Co. Ltd.
  • SANYGroup


    Quick Buy -
    Construction Equipment Market- https://www.fortunebusinessinsights.com/checkout-page/100521

Table Of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • COVID-19 Outbreak: Construction Equipment Industry Impact
  • Global Construction Equipment Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Equipment Type (Value)
      • Earthmoving Equipment
      • Material Handling Equipment & Cranes
      • Concrete Equipment
      • Road Building Equipment
      • Civil Engineering Equipment
      • Crushing and Screening Equipment
      • Other Equipment (Trailers, etc.)
    • Market Sizing Estimations and Forecasts – By Application (Value)
      • Residential
      • Commercial
      • Industrial
    • Market Analysis, Insights and Forecast – By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America

TOC Continued…!

Speak To Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/construction-equipment-market-100521

Have a Look at Related Research Insights:

Forklift Truck Market Size, Share & COVID-19 Impact Analysis, By Type (Class I, Class II, Class III, Class IV, Class V), By Application (Mining, Logistics, Construction, Food & Beverage, Natural Resources, Manufacturing, and Others) and Regional Forecast, 2021-2028

Variable Refrigerant Flow (VRF) System Market Size, Share & COVID-19 Impact Analysis, By Component (Outdoor Units, Indoor Units, and Control Systems & Accessories), By System Type (Heat Pump System and Heat Recovery System), By Application (Residential, Commercial, and Industrial) and Regional Forecast, 2021-2028

Heating, Ventilation, and Cooling (HVAC) System Market Size, Share & COVID-19 Impact Analysis, By Type (Single Split Systems, Variable Refrigerant Flow (VRF) Systems, Chillers and Others), By Application (Residential, Commercial and Industrial) and Regional Forecast, 2021-2028

Woodworking Machinery Market Size, Share & COVID-19 Impact Analysis, By Type (Lathe, Planer, Saw, and Others), By Application (Furniture, Construction, Others), and Regional Forecast, 2021-2028

Telehandler Market Size, Share & COVID-19 Impact Analysis, By Type (Compact, High Lift, and High Load), By Technology (Hybrid, Electric, and Combustion), By Lift Height (Less than 5 meters, 5-15 meters, and More than 15 meters), By Lift Capacity (Less than 3 tons, 3-10 tons, and More than 10 tons), By End-User (Construction, Forestry, Agriculture, Oil & Gas, Manufacturing, Transport & Logistics, and Power Utilities) and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd


Read Press Release: https://www.fortunebusinessinsights.com/press-release/construction-equipment-market-9130