Construction Equipment Market Study by Key Regions, Development Trends and Revenue Forecast to 2024
Category: #reports  By Rahul Varpe  Date: 2020-04-07
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Construction Equipment Market Study by Key Regions, Development Trends and Revenue Forecast to 2024

The rise in the sales of construction equipment across European countries has been encouraging leading product manufacturers to invest in research and development activities to launch new product portfolios. In addition, many construction and earthmoving equipment manufacturers have been focusing on expanding their regional footprints with mergers and acquisitions as well as with new facility establishments. These initiatives incidentally, are also being supported by many regional finance companies, pushing the growth of the construction equipment market further.

Construction Equipment Market share was valued at USD 130 billion in the year 2017 and is projected to surpass a revenue of USD 170 billion by the year 2024.

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The worldwide Construction Equipment Market to register a CAGR of 4% over the period of 2018–2024. Analysis of the report based on competitive landscape, evolving technologies, current business trends, key industry players, growth pattern, and demand projections by the year 2024. The report also includes an in-depth analysis of the market based on its segments and sub-segments.

In European countries, the increasing involvement of the regional governments in infrastructure development has been generating lucrative opportunities for the construction equipment market contenders. More precisely, the shifting focus of governments and regulatory bodies toward the deployment of renewable energy facilities along with the implementation of smart city development programs have been tremendously pushing the need for construction equipment. In line with the rapidly growing number of construction activities, the sales of construction and earthmoving equipment across UK grew considerably in the second quarter of 2018 as compared to the same period in 2017.

Market Growth Drivers -

  1. Implementation of advanced technologies in construction equipment
  2. Increasing infrastructure investments globally
  3. Growing construction industry in China & India
  4. Rising equipment rental demand in North America & Europe
  5. Increasing rate of urbanization in the North America & Europe
  6. Increasing infrastructure and industrial projects in Russia
  7. Growing urbanization and safety concerns in India
  8. Growing reconstruction and maintenance activities in Japan
  9. Rapid infrastructure development in BRIC countries
  10. Recovering construction sector in Latin America
  11. Increasing investment in mining projects across Latin America & MEA
  12. Rising number of public private partnership projects in MEA

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Over the last few years, construction equipment market, on the grounds of surging investments in infrastructural development, has been witnessing a rather appreciable growth rate. The rising trends in industrialization and urbanization across the globe have also been majorly propelling the need for construction equipment. Taking into account the rapid growth of the construction industry, construction equipment market giants have been expanding their regional reach via renewed dealerships across myriad geographies. In addition, many equipment providers have been investing in new machinery as well as advanced technologies such as smart equipment to augment construction equipment industry trends.

Know about Market growth in New Research and its Top growing factors by Key Companies like

Caterpillar Inc., CNH Industrial, Doosan Group, Guangxi LiuGong Machinery Co. Ltd., Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, John Deere, Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr group, Metso Corporation, Palfinger AG, Sany Group, Sumitomo Heavy Industries Ltd., Tadano Ltd., Terex Corporation, The Atlas Copco Group, The Manitowoc Company, Inc., Volvo Construction Equipment, Wacker Neuson, 0MG Group, Zoomlion Heavy Industry Science & Technology Co. Ltd

The report overall depicts the potential opportunities for the Construction Equipment Market till the year 2024 based on SWOT analysis, growth strategies by the major vendors prevalent in the current scenario, surveys highlighting the current as well as emerging trends, etc. The chief segmentation criteria for Construction Equipment Market include product landscape, technology landscape, type landscape, end-use landscape, and application landscape. Each of these bifurcations presents a holistic overview of the market opportunities by analysing these parameters separately as well as entirely, thereby presenting forecast trends and growth potential of the Construction Equipment Market till 2024.

Report based on Product Segment

  1. Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment, Others]
  2. Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, Bulk Material Handling Equipment]
  3. Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, Batching Plants]

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Key Reasons to Purchase the Market Report

  1. The report elaborates on an in-depth evaluation of the market with respect to the product type segment, end-use segment, regional segment, and market opportunities till 2024
  2. A detailed data review alongside the meta-analysis of the market – with respect to the global vendors as well as regions – until 2024
  3. An in-depth understanding of the driving factors that will influence the market demand and preventive strengths in the market
  4. The report helps identify the latent growth opportunities of the market along with the CAGR forecast till 2024.
  5. The report will also help identify basic problems, solutions, and product developments to manipulate the progress threat.

 



About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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