According to the latest report by IMARC Group, titled “Construction Equipment Market Size: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global construction equipment market exhibited moderate growth during 2015-2020 and expects the market to grow at a CAGR of around 6% during 2021-2026
Construction equipment, also known as heavy equipment, is designed for executing construction tasks. It is utilized for grading, compacting and leveling, transferring heavy loads, dozing, hauling, placing materials, excavating and digging the ground, etc. Construction equipment comprises bulldozers, pumps, excavators, cranes, ditchers, graders, tractors, trenchers, derricks, loaders, backhoes, etc. It also includes scrapers, pile drivers, pavers, off-highway haulers and trucks, generators, compactors and rollers, concrete mixers, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Construction Equipment Market Trends:
The expanding construction industry and the growing number of housing and commercial infrastructural projects are driving the construction equipment market. Furthermore, the elevating environmental concerns and the rising need for promoting energy conservation is encouraging focus on enhancing the fuel consumption of construction equipment. Additionally, increasing automation in construction processes due to the scarcity of skilled labors and growing emphasis on reducing the overall cost and time are catalyzing the market growth. Besides this, several manufacturers are investing in equipment that adheres to regulations on noise emissions and integrates safety technologies, such as touchscreen infotainment systems and lift assist. This, in turn, is anticipated to bolster the growth of the market over the forecasted period.
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Global Construction Equipment Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore, Hitachi Construction Machinery, Komatsu Ltd. and Liebherr-International AG.
The report has segmented the market on the basis on region, solution type, equipment type, type, application and industry.
Breakup by Solution Type:
Breakup by Equipment Type:
Breakup by Type:
Breakup by Application:
Breakup by Industry:
Breakup by Region:
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Key highlights of the report:
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