The global construction equipment market size is expected to cross USD 200 billion mark by the end of the forecast period with a reportable growth of ~8% by 2022.
The notable players in the global construction equipment market are Komatsu Ltd. (Japan), J.C. Bamford Excavators Limited (U.K.), Caterpillar Inc. (U.S.), AB Volvo (Sweden), Hyundai Heavy Industries Co., Ltd. (South Korea), Hitachi Construction Machinery Co. Ltd. (Japan), Atlas Copco AB (Sweden), Doosan Heavy Industries & Construction Co. Ltd. (South Korea), Kobe Steel Ltd. (Japan), and Liebherr Group (Switzerland)
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Construction equipment such as skid steer loaders, bulldozers, trenchers, excavators, scrapers, and others have become crucial in modern day construction industry as they used for a myriad of applications which alone cannot be achieved by humans.
The expanding construction industry provides numerous growth opportunities for the construction equipment market. With the rise in industrialization and urbanization across the globe, especially in the developing nations, the construction market is poised for unprecedented growth.
As the labor shortage problem is deepening, the demand for construction equipment is witnessing an all-time high due to substitute the dearth of labors. Towering labor costs and a growing emphasis on the safety of workers has also prompted the construction industry to use equipment for automating various hazardous processes. Moreover, advancement in construction equipment technology has facilitated the industry to reduce its reliance on humans with the development of driverless machines. Such equipment can be used in remote areas where labor availability is scarce. Increase in functionality and safety aspects of construction equipment has further boosted the market growth.
On the other hand, the construction market growth can be restricted by high costs of these machinery. however, market participants are rolling out rental services, which are likely to uplift the growth of the market.
The global Construction Equipment Market has been segmented based on equipment, end use, and application.
By equipment, the construction equipment market has been segmented into Earth moving, Material handling, Concrete, and others.
By end use, the construction equipment market has been segmented into Lifting & material handling, Earth moving, Excavation, Transportation, and others.
By application, the construction equipment market has been segmented into Oil & Gas, Infrastructure, Construction, Agriculture, Mining, and others.
Region-wise, the construction equipment market has been segmented into North America, Rest-of-the-World (RoW), Asia Pacific (APAC), and Europe.
APAC is the largest construction equipment market. The emerging economies in the region are witnessing a steep rise in disposable income. This has increased the spending on real estate. Moreover, growing urbanization in the region has driven construction projects in both the residential, industrial, and commercial sector, which has induced high demand for construction equipment. Rapid industrialization has also reflected positively on the growth of the market.
North America and Europe markets are driven by increasing development of smart cities and resurging construction industry due to accelerated renovation activities in the region.
The Middle East region is also amidst rapid industrialization and urbanization, which induces demand within the RoW construction equipment market.
Scope of Report
The report for Global Construction Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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List of Tables
Table 1 World Population by Major Regions (2015 to 2030) (Million)
Table 2 Global Construction Equipment Market: by Region, 2014-2022 (Usd Million)
Table 3 Global Construction Equipment Market: by Region, 2014-2022 (Kt)
Table 4 North America Global Construction Equipment Market: by Country, 2014-2022 (Usd Million)
Table 5 Europe Global Construction Equipment Market: by Country, 2014-2022 (Usd Million)
Table 6 Asia-pacific Global Construction Equipment Market: by Country, 2014-2022 (Usd Million)
Table 7 Row Global Construction Equipment Market: by Country, 2014-2022 (Usd Million)
Table 8 Global Construction Equipment for Equipment: by Regions, 2014-2022 (Usd Million)
List of Figures
Figure 1 Global Construction Equipment Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Construction Equipment Market
Figure 4 Value Chain of Global Construction Equipment Market
Figure 5 Share of Global Construction Equipment Market in 2014, by Country (in %)
Figure 6 Global Construction Equipment Market, 2015-2022, (Usd Billion)
Figure 7 Sub-segments of Global Construction Equipment Market
Figure 8 Global Construction Equipment Market Size by Equipment
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