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Construction Equipment Market to Garner US$ 239.96 Billion, Globally, By 2030 at 5.9% CAGR

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The construction equipment market demand stood at US$ 136.3 billion in 2020 and is forecast to reach US$ 239.96 billion by 2030, growing at a healthy CAGR of 5.9% until FY2030, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.

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Market Report Scope

Report Highlights Details
Market Size USD 239.96 Billion by 2030
Growth Rate CAGR of 5.9% From 2021 to 2030
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Equipment, Application, Region

The construction equipment is used extensively in the construction of roads, highways, commercial buildings, residential buildings, excavating, digging, and many more activities. The construction equipment market is primarily driven by rising government investments in building infrastructure, rapid urbanization, and rapid industrialization. The increased demand for the latest and advanced construction equipment that are eco-friendly, fuel-efficient, and offers improved productivity at less cost, is driving the growth of the global construction equipment market.

The rising demand for the construction equipment rental services is a trending factor. The increased rate of urbanization and industrialization in the developing economies is expected to drive the growth of the construction equipment rental industry, which in turn will drive the demand for the construction equipment across the globe. The various developmental strategies like new product launches with latest and innovative features fosters market growth and offers lucrative growth opportunities to the market players.

Crucial factors accountable for market growth are:

  • Rising government expenditure on the development of infrastructure
  • Introduction of IoT and ICT in the construction equipment
  • Rapid urbanization and industrialization
  • Rising number of construction of commercial spaces in developed and developing nations
  • Development of eco-friendly and battery operated construction equipment
  • Extensive usage of excavators for digging
  • Rising number of residential complexes in developing regions

Report Highlights

  • Based on the equipment type, the earthmoving segment dominated the market owing to the extensive use of excavators for digging the complex places during the construction. Further the rapid investment in the development of commercial and industrial spaces is expected to further drive the growth of this segment.
  • Based on the application, the industrial segment is expected to be the fastest-growing segment during the forecast period. This is attributable to the rapid industrialization in developing nation and increased government initiatives and policies to drive the industrial development in the country.

Market Dynamics

Driver – The global construction equipment market is driven by the growth of the building and construction industry. The rapid industrialization and rapid urbanization in the underdeveloped and developing countries is expected to foster the growth of the market. Moreover, latest technological advancement in the construction equipment helps to save cost and improve operational efficiency. This factor is anticipated to drive the growth of the market during the forecast period.

Restraints – Environmental imbalance owing to the extensive use of the construction equipment may hamper the growth of the market. The construction equipment is a source of ozone emission that hampers the air quality. The rising government restrictions to reduce carbon footprint may hamper the growth of the market in the forthcoming years.

Opportunities – The rising popularity of the construction equipment rental services is the latest trend in the market. The rental services allows the builders to keep enough working capital in hands that can be utilized efficiently in the daily operations. The rising urbanization in the developing nations like India and China is expected to foster the rental services in the upcoming future.

Challenges – The rising government initiatives and strict regulation regarding CO2 emissions is a major challenge that needs to be tackled. For instance, The European Commission has the toughest regulations regarding the emission standards that strictly need to be followed by the construct equipment users.

Regional Snapshots

Asia Pacific dominated the global construction equipment market in 2020. This is attributed to the increased government expenditure on infrastructural development and increased rate of urbanization. According to the Asian Development Bank, Asia is rapidly being urbanized as compared to rest of the world. East Asia is developing (Urbanizing) at a CAGR of 3.7%, followed by South-East Asia at 3.6%, South Asia at 3.3%, and Central Asia at1.6%. The Pacific region is urbanizing at a CAGR of 2.9%. Further, the recent announcement of Indian government to invest INR 15 trillion for the development of highways in the country is a mere example of government expenditure and contribution towards the growth of the construction equipment industry.

On the other hand, Europe is expected to be the fastest-growing market during the forecast period. Europe has an increased demand for the construction of residential units, commercial space, and skyscraper buildings that is expected to fuel the demand for the construction equipment. Further, the latest technological advancements in the construction equipment is expected to drive the adoption of the equipment in the European market during the forecast period.

Competition Landscape

In the final section of the research report, Precedence Research provided the global construction equipment market structure and a detailed competition landscape to provide a dashboard view of key players operating in the construction equipment market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the construction equipment market include:

  • Caterpillar Inc.
  • Komatsu
  • Hitachi Construction Machinery
  • Liebherr
  • Volvo Construction Equipment
  • Doosan Infracore Co. Ltd.
  • J.C. Bamford Excavators Ltd.
  • CNH Industrial NV
  • SANY Group
  • Hyundai Construction Equipment Co.

Market Segmentation

By Equipment Type

  • Earthmoving
  • Material Handling
  • Concrete
  • Road Building
  • Civil Engineering
  • Crushing & Screening
  • Others

By Application

  • Commercial
  • Residential
  • Industrial

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Why should you invest in this report?

If you are aiming to enter the global construction equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for construction equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Purchase Full Research Report (Single User License US$ 4500) @ https://www.precedenceresearch.com/checkout/1326

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Construction Equipment Market 

5.1. COVID-19 Landscape: Construction Equipment Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Construction Equipment Market, By Equipment

8.1. Construction Equipment Market, by Equipment Type, 2021-2030

8.1.1. Equipment Offering

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Material Handling

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Concrete

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Road Building

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Civil Engineering

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Crushing & Screening

8.1.6.1. Market Revenue and Forecast (2019-2030)

8.1.7. Others

8.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Construction Equipment Market, By Application

9.1. Construction Equipment Market, by Application, 2021-2030

9.1.1. Commercial

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Residential

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Industrial

9.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Construction Equipment Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.1.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.2.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.5.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Equipment (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

Chapter 11. Company Profiles

11.1. Caterpillar Inc.

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Komatsu

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Hitachi Construction Machinery

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Liebherr

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Volvo Construction Equipment

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Doosan Infracore Co. Ltd.

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. J.C. Bamford Excavators Ltd.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. CNH Industrial NV

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. SANY Group

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Hyundai Construction Equipment Co.

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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