Construction Equipment Market Size is anticipated to reach at a CAGR of 4.5% during the forecast period

 

During the projected period of 2022–2030, the global construction equipment market is expected to develop at a compound annual growth rate (CAGR) of 4.5%.

Construction equipment, also referred to as heavy equipment, is a class of specially designed machinery used in construction activities for a variety of purposes, including the movement of heavy loads and the grading, dozing, drilling, hauling, excavating, paving, compacting, and levelling of surfaces. These tools help to decrease the need for human labour and to save a significant amount of time and effort because they have good mechanical strength and durability.

Ditchers, bulldozers, pumps, graders, tractors, excavators, trenchers, cranes, derricks, loaders, and backhoes are a few of the more popular pieces of construction machinery.

                         

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Growth Drivers:

Factors like the rising investments in urban infrastructure and industrial development projects, the rising demand for strong residential and commercial infrastructure, the growing automation in construction processes due to a shortage of skilled labour, and the growing emphasis on minimising project costs and timelines all contribute to the growth of the end-use applications for construction equipment.

Also, there are more strategic alliances between market participants in the construction equipment market, primarily to develop cutting-edge products and solutions and introduce them to the market for a range of uses. The smart construction industry is also driving up demand for construction machinery. As a result, in April 2021, Komatsu Ltd. formed a cooperation with Nomura Research Institute, Sony Semiconductor Solutions, and NTT Docomo to develop Earthbrain Ltd., which will aid in the creation of fresh solutions and services for smart construction equipment. In the upcoming years, it is anticipated that these innovations and the rising number of partnerships will support the expansion of the worldwide construction equipment market.

Additionally, other factors like the expanding trend of construction equipment rental services, the introduction of new technologies for construction machinery, the rising concerns over worker safety on construction sites, the rise in mining projects and the development of smart cities across regions, and the growing attention of players on improving the fuel consumption of construction equipment are expected to create ample growth opportunities for the growth of the industry.

 

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Construction Equipment Market Segmentation:

By Type:

·         Dump Truck

·         Loader

·         Dozer

·         Excavator

·         Motor Grader

 

By Equipment Category:

·         Earthmoving Equipment

·         Material Handling Equipment

·         Heavy Construction Vehicle

·         Other Equipment

 

By Equipment:

·         Articulated Dump Truck

·         Asphalt Finisher

·         Backhoe Loader

·         Crawler Dozer

·         Crawler Excavator

·         Crawler Loader

·         Mini Excavator

·         Motor Grader

·         Motor Scraper

·         Rigid Dump Truck

·         Road Roller

·         Rough Terrain Lift Truck (RTLT) Masted

·         Rough Terrain Lift Truck (RTLT) Telescopic

·         Skid-Steer Loader

·         Wheeled Excavator

·         Wheeled Loader <80 HP

·         Wheeled Loader >80 HP

·         Compactor

·         Pick and Carry Crane

 

By Application:

·         Commercial

·         Residential

·         Infrastructure

 

By Power Output:

·         <100 HP

·         101–200 HP

·         201–400 HP

·         >400 HP

 

By Engine Capacity:

·         <5L

·         5L-10L

·         >10L

 

By Emission Regulation:

·         Stage II

·         Stage III

·         Stage IIIA

·         Stage IV

·         Stage V

·         Stage VI

·         Tier 4

·         Tier 5

 

By Aftertreatment Device:

·         Diesel Oxidation Catalyst (DOC)

·         Diesel Particulate Filter (DPF)

·         Exhaust Gas Recirculation (EGR)

·         Selective Catalytic Reduction (SCR)

 

By Propulsion Type:

·         Diesel

·         CNG/LNG/RNG

 

By End-User:

·         Oil & Gas

·         Construction & Infrastructure

·         Manufacturing

·         Mining

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Key Companies in Construction Equipment Market:

·         Caterpillar Inc.

·         Komatsu Ltd.

·         Xuzhou Construction Machinery Group (XCMG)

·         Zoomlion

·         Terex Corporation

·         Sumitomo Heavy Industries Ltd.

·         Sany Heavy Industry Co. Ltd.

·         Mitsubishi Corporation

·         Manitou Group

·         Volvo Construction Equipment

·         Hitachi Construction Machinery Co. Ltd.

·         Deere & Company, Komatsu Ltd.,

·         Sandvik

·         CNH Industrial

·         Volvo Construction Equipment

·         XCMG Group

·         Kobelco Construction Machinery Ltd.

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                                 

                                       

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