Construction Equipment Market By Solution Type (Products, Services), By Equipment Type (Heavy construction equipment, Compact construction equipment), By Type (Wheel Bulldozer, Front Loaders, Dump Trucks, Backhoe loader, Grader, Crawler Dozers, Compactors, Excavators, Forklifts, Concrete Mixer Truck, 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 $195,798.7 million in 2021 and is projected to reach $313,868.0 million by 2031, registering a CAGR of 4.8% from 2022 to 2031. Construction equipment is specially designed machinery used to perform construction operations. This equipment is used for different applications such as drilling, hauling, excavating, paving, lifting, grading, and others. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.
The construction equipment market has grown along with rise in demand for industrialization, residential, and commercial infrastructure setup. Furthermore, the growth in public private partnerships in different countries such as India, China, and countries in Africa are expected to fuel the growth of construction equipment industry. However, strict government regulations and carbon emissions are anticipated 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 the 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 to improve the product portfolio.
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 impacted the revenue flow of the global construction equipment market. In addition, there was a halt in the manufacturing of industrial products, owing to lack of raw materials and manpower during the lockdown period. Further, no new consignments were received by companies that operate in this sector. Hence, a halt in industrial activities and lockdowns for several months affected the global construction equipment market. However, with large scale vaccine drives across the world, the number of COVID-19 cases have reduced significantly, and key players are recovering quickly.
The key players profiled in the construction equipment market report include such as AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, Hyundai 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 construction equipment market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2021 and 2031.
Extensive analysis of the construction equipment market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all 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 the construction equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the construction equipment industry.
Key Market Segments
By Solution Type
Products
Services
By Equipment Type
Heavy construction equipment
Compact construction equipment
By Type
Concrete Mixer Truck
Others
Wheel Bulldozer
Front Loaders
Dump Trucks
Backhoe loader
Grader
Crawler Dozers
Compactors
Excavators
Forklifts
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
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Hyundai Doosan Infracore Co., Ltd.
AB Volvo
CATERPILLAR INC.
XCMG Group
CNH Industrial N.V.
Hitachi Ltd.
J C Bamford Excavators Ltd. (JCB)
Liebherr-International AG
Komatsu Ltd.
Deere & Company
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