The increasing industrial development and commercial construction activities are creating opportunities for the growth of the global Construction Equipment market. Furthermore, rising public-private partnerships along with increasing government investments for the development of infrastructure is also contributing to global growth.
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- Caterpillar Inc.
- Liebherr Group
- Terex Corporation
- Komatsu America Corp.
- JCB India Ltd.
- Hyundai Heavy Industries Co., Ltd
- CNH Industrial Capital
- Hitachi Construction Machinery Middle East Corporation FZE
- Volvo Car Retail Solutions AB
Industry key players are investing in research & development activities for providing efficiency in construction by upgrading construction equipment such as forestry equipment, waste management equipment, material handling, agricultural equipment, municipal equipment, mining equipment. This factor is also aiding the growth of the market.
Rising Demand for Advanced Construction Equipment Will Contribute Growth to the Market
Gradual shift in preference from traditional construction equipment to automated construction equipment is a factor contributing positively to the construction equipment demand. The frequent efforts of key players towards reinventing and renovating of old technology in order to create higher productivity and achieve efficiencies across the construction industry. This factor is promoting the growth of the global Industry.
Further, the increasing demand for technologically upgraded and fuel-efficient equipment for refining construction activities around the world is supporting the growth. In addition, traditional construction involves high labor cost, no track of the work process as well as high operational cost, which is impelling a major preference shift towards advanced constructing equipment. This factor is expected to boost the global construction equipment market during the forecast period.
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1. By Equipment Type
- Earthmoving Equipment
- Material Handling Equipment & Cranes
- Concrete Equipment
- Road Building Equipment
- Civil Engineering Equipment
- Crushing and Screening Equipment
- Other Equipment
2. By Application
3. By Region
- North America (The U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
Rising Government Investments Will Propel Growth in Asia Pacific
Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. In 2018, Asia Pacific reached USD 49.68 Bn and is expected to lead the global construction equipment market during the forecast period. The growth in the region is predicted to be driven by increasing government investments in the development of infrastructure and the presence of online retail facilities. The increasing availability of high-end machinery on a rental basis is also fostering the growth in the region.
Likewise, the investment in renewable energy, public infrastructure and residential construction projects by the government of the china are inducing high demand for construction equipment. For instance, in 2017 the government of china intended to deliver the 21st century Maritime Silk Road and the One Belt One Road project that would cost around USD 4 Tn in order to improve the land and waterway connectivity. These factors combined together is likely to boost the global construction equipment market.
Revenue in Europe reached USD 36.27 Bn in 2018 and is predicted to grow significantly during the forecast period. The increasing demand for improving the employment level and new housing units and others are propelling the growth in the region. Similarly, Germany is called the home to Europe’s best-performing machine and equipment sector, Europe is expected to create growth opportunities for the market in the forthcoming year.
Key Recent Developments
- June, 2018: Deere & Company introduced two new forwarders 910G and 1010G to offer a solution for every logging operation and deliver power and productivity.
- December, 2017: NVidia partnered with Komatsu in order to deploy AI at worksites across these industries in order to promote safety and increase efficiency. Also, Komatsu is aiming to use Nvidia’s hardware to provide virtual ‘brains’ to heavy machinery at work sites, with AI powered by Nvidia’s Jetson platform
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Table of Content:
5. Global Construction Equipment Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts – By Equipment Type (USD Mn)
5.2.2.Material Handling Equipment & Cranes
5.2.4.Road building equipment
5.2.5.Civil engineering equipment
5.2.6.Crushing and screening equipment
5.3. Market Sizing Estimations and Forecasts – By Application (USD Mn)
5.4. Market Analysis, Insights and Forecast – By Geography (USD Mn)
5.4.4.Middle East and Africa
6. North America Construction Equipment Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Sizing Estimations and Forecasts – By Equipment Type (USD Mn)
6.2.2.Material Handling Equipment & Cranes
6.2.4.Road building equipment
6.2.5.Civil engineering equipment
6.2.6.Crushing and screening equipment
6.3. Market Sizing Estimations and Forecasts – By Application (USD Mn)
6.4. Market Analysis, Insights and Forecast – By Country (USD Mn)
6.4.3.Rest of North America
7. Europe Construction Equipment Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Sizing Estimations and Forecasts – By Equipment Type (USD Mn)
7.2.2.Material Handling Equipment & Cranes
7.2.4.Road building equipment
7.2.5.Civil engineering equipment
7.2.6.Crushing and screening equipment
7.3. Market Sizing Estimations and Forecasts – ByApplication (USD Mn)
7.4. Market Analysis, Insights and Forecast – By Country(USD Mn)
7.4.6. Rest of Europe
8. Asia Pacific Construction Equipment Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Sizing Estimations and Forecasts – By Equipment Type (USD Mn)
8.2.2.Material Handling Equipment & Cranes
8.2.4.Road building equipment
8.2.5.Civil engineering equipment
8.2.6.Crushing and screening equipment
8.3. Market Sizing Estimations and Forecasts – By Application (USD Mn)
8.4. Market Analysis, Insights and Forecast – By Country (USD Mn)
8.4.5.Rest of Asia Pacific
9. Middle East and Africa Construction Equipment Market Analysis, Insights and Forecast, 2015-2026
9.1. Key Findings / Summary
9.2. Market Sizing Estimations and Forecasts – By Equipment Type (USD Mn)
9.2.2.Material Handling Equipment & Cranes
9.2.4.Road building equipment
9.2.5.Civil engineering equipment
9.2.6.Crushing and screening equipment
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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