Construction Equipment Market 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), By End User (Oil and gas, Construction and Infrastructure, Manufacturing, Mining, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global construction equipment market was valued at $201,854.3 million in 2021, and is projected to reach $322,036.0 million by 2031, registering a CAGR of 4.8% from 2022 to 2031. Construction equipment are specially designed machinery used to perform construction operations. This equipment is used for different functions such as drilling, hauling, excavating, paving, and grading. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas. The construction equipment market has grown along with the rise in demand for industrialization, residential, and commercial infrastructure setup. Further, the growth in public private partnerships in different countries such as India, Africa, and China is expected to fuel the growth of construction equipment industry. However, strict government regulations and carbon emissions are expected to restrain the construction equipment market during the forecast period.
Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of tool robot’s market. For instance, in April 2021, Liebherr announced the launch of new R 928 Generation 8 crawler excavator, the new addition to the Generation 8 series. The R 928 G8 crawler excavator is a new model, developed and produced by Liebherr-France SAS in Colmar. This aims in improving the product portfolio. The construction equipment market is segmented on the basis of solution type, equipment type, type, application, industry, and region. By solution type, it is divided into products and services. By equipment, the construction equipment it is classified into heavy construction equipment and compact construction equipment. By type, it is categorized into loader, cranes, forklift, excavators, dozers, and others. By application, it is divided into excavation & mining, lifting & material handling, earth moving, transportation, and others. By end-user, it is divided into oil & gas, construction & infrastructure, manufacturing, mining, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The COVID-19 pandemic forced many companies in the global construction equipment market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts revenue flow of the global construction equipment market. In addition, there is a halt in manufacturing of industrial products, owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months has affected the global construction equipment market and the market is anticipated to witness a slow recovery during the forecast period.
The key players profiled in the construction equipment market report include such as 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, and Xuzhou Construction Machinery Group Co., Ltd. (XCMG).
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global construction equipment market trends and dynamics.
In-depth market analysis is conducted by the global construction equipment market estimations for key market segments between 2021 and 2031.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global construction equipment market forecast analysis from 2022 to 2031 is included in the report.
The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global construction equipment market.
Key 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
By End User
Oil and gas
Construction and Infrastructure
Manufacturing
Mining
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key 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
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook