Construction Equipment Market is Expected to Grow at 4.9% During 2022-2027
Construction Equipment market is expected to grow at a CAGR of 4.9% during 2022-2027, reports Stratview Research
RAIPUR, India, Feb. 10, 2022 /PRNewswire/ -- Stratview Research, a leading market research company, has launched a report on the Construction Equipment market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click Here to get the free sample pdf: https://www.stratviewresearch.com/Request-Sample/84/construction-equipment-market.html#form
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Construction Equipment market is driven by a host of factors, some of which are noted below:
- Growth is mainly attributed to the high demand for robust residential
- Increasing commercial infrastructure along with growing urbanization across the world.
- High concentration of regional government authorities on investment in significant public infrastructure projects.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Construction Equipment Market Segmentation:
Stratview Research has segmented the market in the following 2 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Product Type (Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment, and Others], Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, and Bulk Material Handling Equipment], and Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, and Batching Plants])
- Region (North America, Europe, Asia-Pacific, and Rest of the World)
Construction Equipment Market Insights
Market trends by Product Type:
Based on the product type, the market is segmented as earthmoving and road-building equipment, material handling & cranes, and concrete equipment. The earthmoving and road-building equipment segment led the market in 2021 and is expected to maintain its dominance during the forecast period. Compaction equipment, excavators, loaders, and backhoes are the machines included in this segment. The government authorities' strong emphasis on the development of a well-connected road network to support growing freight transports will propel the growth of the segment. Also, the backhoe segment is expected to grow at a significant rate on account of its ability to perform versatile operations which include clamping, dozing, digging, and back dragging at construction sites. Moreover, new product launches in the backhoe segment with advanced features, and technologies will drive the growth of the market during the forecast period.
Which region offers the best opportunity and growth?In terms of regions, Asia-Pacific is estimated to be the leading region in the market, owing to the emergence of online retail services, availability of machines on rental basis, and increasing government investments in infrastructure development in the region. Furthermore, China is likely to hold the largest share of the market on account of the large number of emerging companies in the market that are manufacturing technology-driven construction machines. The government in China is investing in public infrastructure and renewable energy, along with residential projects, which is ultimately increasing the demand for construction machinery in the region.
COVID-19 Impact on the Construction Equipment Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/84/construction-equipment-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Komatsu Ltd.
- John Deere
- Sany Group
- Hitachi Construction Machinery Co. Ltd.
- CNH Industrial
- Volvo Construction Equipment
- Caterpillar, Inc.
- XCMG Group
- Kobelco Construction Machinery Ltd.
- Terex Corporation.
What deliverables will you get in this report?
- In-depth analysis of the Construction Equipment Market.
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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