Global Construction Equipment Market is estimated to reach $385 Billion by 2025; growing at a CAGR of 8.9% from 2017 to 2025. Construction equipment are heavy machineries designed to perform construction operations. Construction equipment are used extensively at construction sites and mining sites to reduce labor cost and time. This equipment is used for different functions such as drilling, excavating, hauling, paving, grading, and many others. They commonly comprise five equipment systems: implement, structure, traction, power train, and control & information. Urbanization has led to the augmented demand for infrastructure development projects like the construction of roads, mega cities, metros, sewage facilities, and transit systems. This elevated the need for advanced construction equipment. Furthermore, construction equipment finds a widespread application in end-use industries such as manufacturing, mining, oil & gas, forestry, and public work, among others.
Increasing construction and mining activities, tremendous growth in real estate sector, rising demand for advanced infrastructure in emerging economies, rapid urbanization and industrialization are the primary factors driving the growth of the global construction equipment market. However, the market consists of one major constraint i.e. stringent government guidelines concerning carbon emission. Though, rising government investment for infrastructure development, and renting or leasing of equipment is expected to provide profitable growth opportunities for the market in the forecast timeframe.
Solution type, type, application, industries, and geography are the major segments considered in the global construction equipment market. On the basis of solution type, the segment includes products, and services (rental, and maintenance). The type segment is bifurcated into loaders, cranes, forklift, excavators, dozers, and other types. By application, the segmentation offers excavation & mining, lifting & material handling, earth moving, transportation, and other applications. Furthermore, the industries segment is sub-segmented into oil & gas, public works & rail road, forestry & agricultural, manufacturing, military, and mining.
Based on geography, the global construction equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The prominent players profiled in the report include Caterpillar Inc., Komatsu Ltd., Sandvik, Joy Global, Hitachi Co. Ltd., Atlas Copco, AB Volvo, Doosan Group, Metso, and Liebherr Group, among others.Top players such as Caterpillar Inc.; Joy Global Inc. Inc. Metso, Komatsu Ltd.; Sandvik; Hitachi Co. Ltd., and others, have witnessed a significant growth in the past few years. Innovative products, such as remote-controlled construction equipment, launched by these players have increased their overall consumer base.
The key takeaways from the report
• The report will provide detailed analysis of Global Construction Equipment Market with respect to major segments such as solution type, type, application, industries, and geography
• The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
• Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
• An exhaustive regional analysis of Global Construction Equipment Market has been included in the report
• Profile of the key players in the Global Construction Equipment Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Construction Equipment Market
Solution Type Segments
• Other Types
• Excavation & Mining
• Lifting & Material Handling
• Earth Moving
• Other Applications
• Oil & Gas
• Public Works & Rail Road
• Forestry & Agricultural
• North America
o Rest of Europe
o Rest of Asia-Pacific
o South America
o Middle East