Global Construction Equipment Market 2024-2028
Global Construction Equipment Market 2024-2028
The construction equipment market is forecasted to grow by USD 3799 mn during 2023-2028, accelerating at a CAGR of 5.21% 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 rising number of new construction equipment launches, expanding manufacturing and distribution facilities by market vendors, and increase in building and construction activities.
Technavio's construction equipment market is segmented as below:
By Product
- Owned equipment
- Rented equipment
- Leased equipment
By Application
- Commercial
- Residential
- Infrastructure
By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the rise in adoption of electric construction equipment as one of the prime reasons driving the construction equipment market growth during the next few years. Also, increasing popularity of digital twins for predictive maintenance and emergence of smart cities 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, Action Construction Equipment Ltd., Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Escorts Ltd., Guangxi Liugong Machinery Co. Ltd., Hitachi Construction Machinery Co. Ltd., HD Hyundai Construction Equipment Co. Ltd., J C Bamford Excavators Ltd., Kobe Steel Ltd., Komatsu Ltd., Liebherr International AG, Manitou BF SA, Sany Group, Sumitomo Heavy Industries Ltd., Terex Corp., Xuzhou Construction Machinery Group Co. Ltd., and Zoomlion Heavy Industry Science and Technology 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 research - both primary and secondary. 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 the accurate market growth.