By end-user, it is divided into oil & gas, construction & infrastructure, manufacturing, mining, and others.By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.īy region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. By application, it is divided into excavation & mining, lifting & material handling, earth moving, transportation, and others. By type, it is categorized into loader, cranes, forklift, excavators, dozers, and others. By equipment, the construction equipment it is classified into heavy construction equipment and compact construction equipment. By solution type, it is divided into products and services. The construction equipment market is segmented on the basis of solution type, equipment type, type, application, industry, and region. Get more information on this report : Request Sample Pages Moreover, technology innovations are expected to provide lucrative opportunities for players operating in the market.
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However, factors such as strict government regulations and carbon emissions is anticipated to restrain the construction equipment market growth. By 2040, the global population is estimated to grow approximately by two billion with urban population growing by over 40%. Further, rise in urbanization across the world is increasing the demand to build infrastructure such as residential and transportation. The growing public private partnerships in different countries such as India, Africa, and China is expected to fuel the growth of the construction equipment industry. In this type of partnership, a private company handles a project and lends technical and operational expertise to government projects. These partnerships are characterized as a joint venture between government and private sector companies for construction of public infrastructure systems. One of the reasons for the growth is anticipated to be the growing focus on public–private partnerships (PPP). The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.Īlthough the construction sector is facing a slow-down, which is affecting new construction equipment sales, the market is expected to recover during the forecast period. These equipment are used for different functions such as drilling, hauling, excavating, paving, and grading. Construction equipment are specially designed machinery used to perform construction operations.
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The global construction equipment market size is expected to reach $261,047 million in 2027, from $184,500 million in 2019, growing at a CAGR of 4.3% from 2020 to 2027.
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Construction Equipment Market Statistics - 2027