Construction Equipment Market is Expected to Grow at a CAGR of 4%; Market to Exceed US$ 61 Billion by 2031 End

Posted on 2022-01-05 by Future Market Insights, Inc in Internet & Online // 0 Comments

The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth. This newly published and insightful report sheds light on Market Insights of Construction Equipment, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Construction Equipment Market.

The outbreak of COVID-19 has interrupted the growth construction, mining, and other industrial activities. Demand for construction equipment is contingent on the growth of these end-use industries, and with declining investments in these sectors, the construction equipment market is poised to experience a downward trend across the globe, in the near term.

To remain ‘ahead’ of your competitors, request for a sample — https://www.factmr.com/connectus/sample?flag=S&rep_id=3965

The construction equipment market is poised to expand at a CAGR of over 4% during the forecast period of 2020 to 2030. Construction equipment is specially designed machinery used to perform construction operations in various industries such as mining, construction, ports, manufacturing, and forestry, among others. This equipment is used for various functions such as drilling, hauling, excavating, paving, and grading.

construction equipment market value opportunity by end use

The COVID-19 pandemic is having a negative impact on the building and construction industry. Due to the imposition of lockdowns, most construction activities were halted in many countries, though now things are improving. Due to the pandemic, key manufacturers are witnessing fluctuation in demand, which mainly changes market trends.

Need more information about Report Methodology? Click here- https://www.factmr.com/connectus/sample?flag=RM&rep_id=3965

Key Segments of Construction Equipment Market

Fact.MR’s study on the construction equipment market offers information divided into five key segments — equipment, power output, end use, ownership, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Equipment

Excavators
Crawlers Excavators
Wheeled Excavators
Mini Excavators
Loaders
Asphalt Pavers
Dozers
Dump Trucks
Compaction Machines (Rollers)
Concrete Mixers
Motor Graders
Cranes
Mobile Cranes
Crawler Cranes
Tower Cranes
Others

Power Output

Below 100 Hp
100.1 to 200 Hp
200.1 to 400 Hp
Above 400 Hp

End Use

Construction
Mining
Agriculture & Forestry
Industrial
Others

Ownership

Rental Operators
Industrial & Commercial Enterprises

Region

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/3965

Key Takeaways from Construction Equipment Market Study

Under the impact of COVID-19, the global construction equipment market is expected to reach a market valuation of US$ 180 Bn by the end of 2030.
By equipment, demand for excavators is foreseen to grow 2.6X than cranes in 2020. On the other hand, cranes will account for 1/5 of the overall absolute dollar opportunity created during the forecast period.
By power output, 200.1–400 HP construction equipment is projected to create an absolute $ opportunity of US$ 18 Bn from 2020 and 2030.
By end use, the construction industry is projected to account for 42% of the total sales in 2020, and is anticipated to create an absolute $ opportunity of more than US$ 32 Bn during the forecast period 2020–2030.
By region, East Asia is estimated to be the prominent construction equipment market, and is projected to surpass a market valuation of US$ 52 Bn by the end of 2030.

“The COVID-19 pandemic has adversely hit the construction equipment market on the demand side, causing a decline in sales. Post COVID-19, increase in government spending on new projects coupled with increasing rental and leasing services offered by equipment manufacturers is foreseen to open new growth avenues for the construction equipment market,”says a Fact.MR analyst.

Industry Players Focusing on Product Launches to Stimulate Growth

Key players in the construction equipment market are Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, CNH Industrial N.V, Hitachi Construction Machinery, Liebherr Group, XCMG Co., and Terex Corporation, among others. Prominent manufacturers are focusing on introducing new products in order to broaden their customer base and gain a competitive edge over other players. For instance,

In 2020, Caterpillar launched its new D7 Dozer, which offers high drive undercarriage design, increased performance, and broadest choice of easy-to-use technology features. D7 moves up to 8 percent more material per hour than D7E, with around 6 percent more weight and 12 percent more horsepower.
In 2020, Volvo introduced its two new asphalt paver models — P5110B tracked and P5170B wheeled pavers, for its North American market. These models of asphalt pavers give contractors a new heavy eight-foot size class option, and are built for both, heavy commercial and light highway tasks.

Key Question answered in the survey of Construction Equipment market report:

Sales and Demand of Construction Equipment
Growth of Construction Equipment Market
Market Analysis of Construction Equipment
Market Insights of Construction Equipment
Key Drivers Impacting the Construction Equipment market
Which are the Key drivers impacted by Construction Equipment market
Restraints Shaping Market Growth
Market Survey of Construction Equipment

More Valuable Insights on Construction Equipment Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Construction Equipment, Sales and Demand of Construction Equipment, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Domain:

Utility Locator Market — Market Forecast, Trend, Analysis & Competition Tracking — Global Market Insights 2020 to 2030

Firestop Sealants Market — Market Forecast, Trend Analysis & Competition Tracking — Global Market Insights 2019 to 2029

Centrifugal Chiller Market — Market Forecast, Trend Analysis & Competition Tracking — Global Market Insights 2019 to 2029

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range — from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Matched content

Editor’s pick