The Construction Equipment & Heavy Equipment Market is expected to grow from USD 155.28 Billion in 2020 to USD 212.68 Billion by 2028, at a CAGR of 4.02% during the forecast period. High demand of construction and heavy equipment from the infrastructure sector, due to rising construction activities, increase in government investment due to rising demand in residential segment, and urbanization and economic growth in the developing countries are some of the driving factors of the market.
High initial investment, repairing costs and maintenance costs, issues regarding export of machinery across the globe, and concerns regarding future residual values and depreciation may restrain the growth of the Construction Equipment & Heavy Equipment market.The report analyzes the market based on different categories such as product types, end-use applications, and leading geographical regions. The report covers the analysis of the dynamic changes and disruptions caused by the pandemic and offers a comprehensive overview of the impact of the COVID-19 pandemic on the market and its key segments.
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Key players with in Construction Equipment & Heavy Equipment market:
Caterpillar Inc., CNH Industrial N.V., Komatsu Ltd., AB Volvo, Hitachi Construction Machinery Co. Ltd., JC Bamford Excavators Ltd. (JCB), Hyundai Heavy Industries Co. Ltd., Liebherr Group, Doosan Infracore Co. Ltd and Terex Corporation
Further key findings from the report suggest
- The Construction Equipment & Heavy Equipment market is segmented by machinery type into earthmoving equipment, material handling, heavy construction vehicles, and others. The earth moving equipment are expected to witness highest growth of approx. CAGR of 5.15% during the forecast period, due to its low operating costs, and emerging technologies in the field, such as smart and internet-enabled intelligent excavators.
- The Construction Equipment & Heavy Equipment market is segmented by application into excavation & demolition, heavy lifting, tunneling, material handling, and recycling & waste management. Excavation and demolition is expected to witness highest growth of CAGR 4.83% during the forecast period, since it delivers improvised outputs, performance, and efficiency along with being cost-effective. Moreover, excavators are used for rescue in natural calamities and mining activities of metals and minerals as well, thus contributing to the growth of the segment.
- The Construction Equipment & Heavy Equipment market is segmented by industry verticals into construction, oil & gas, mining, infrastructure, manufacturing and others (forestry & agriculture). Infrastructure is expected to witness highest growth CAGR of 4.9% during the forecast period, due to the huge investments of the governments in the infrastructure sector. Construction and manufacturing segments can also be expected to have a high growth in the forecast period.
- The Construction Equipment & Heavy Equipment Market is segmented by Geography into North, America, Europe, Asia Pacific, Latin America and Middle East & Africa. APAC dominates the market and is expected to witness highest growth in its CAGR 4.8% during the forecast period, since the region comprises of the largest developing countries, like Japan, China and India, huge investments in the urbanization & industrialization and the growing population of this region.
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For the purpose of this report, the market has been segmented on the basis of machinery type, applications, industry verticals, and regional analysis.
- Construction Equipment & Heavy Equipment Market by machinery type (Revenue, USD Million; 2018-2028)
- Earthmoving Equipment
- Material Handling Equipment
- Heavy Construction Vehicles
- Construction Equipment & Heavy Equipment Market by applications (Revenue, USD Million; 2018-2028)
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste Management
- Construction Equipment & Heavy Equipment Market, by industry verticals (Revenue, USD Million; 2018-2028)
- Oil & Gas
- Others (Forestry & Agriculture)
- Construction Equipment & Heavy Equipment Market Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
The report is formulated through extensive primary and secondary research and is further validated and verified by the industry experts and professionals. The report offers key insights to the readers, businesses, and stakeholders to help them make informed decisions and gain a robust footing in the market. The report analyzes the growth trends in the historical years and offers an idea about the current and emerging trends of the industry. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis are included in the report.
Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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