Global Construction Equipment Market 2024-2028
The construction equipment market is forecasted to grow by USD 21411.5 million during 2023-2028, accelerating at a CAGR of 5.4% during the forecast period. The report on the construction equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased investment in infrastructure, increase in number of smart cities, and growing residential and commercial construction activities.
Technavio's construction equipment market is segmented as below:
- By Application
- Commercial
- Residential
- Infrastructure
- By Product
- Earthmoving equipment
- Material handling equipment
- Concrete and road construction equipment
- Other equipment
- By Geographical Landscape
- APAC
This study identifies the growing trend of construction equipment rentals as one of the prime reasons driving the construction equipment market growth during the next few years. Also, new product launches in construction equipment industry and rising number of strategic partnerships and alliances will lead to sizable demand in the market.
The report on the construction equipment market covers the following areas:
- Construction equipment market sizing
- Construction equipment market forecast
- Construction equipment market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading construction equipment market vendors that include AB Volvo, Atlas Copco AB, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Epiroc AB, Guangxi Liugong Machinery Co. Ltd., Hitachi Ltd., Hyundai Motor Co., J C Bamford Excavators Ltd., Komatsu Ltd., Kubota Corp., Larsen and Toubro Ltd., Liebherr International AG, Mahindra and Mahindra Ltd., Sany Group, Sumitomo Heavy Industries Ltd., Tadano Ltd., and Xuzhou Construction Machinery Group Co. Ltd.. Also, the construction equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.