Industry Background:
Construction machinery is mechanized equipment that is used to carry out construction tasks. Certain construction machines carry out a set of activities in a specific order to attain a specific goal. Excavating, roading, drilling, pile-driving, reinforcement, roofing, and finishing machinery, concrete-working machinery, and preparatory work machinery are the core groups of construction machinery. Loosening the soil and cleaning the area of bushes, trees, and rocks are all part of the preparation process. Construction machines placed on crawler-tractor chassis, such as rippers, brush cutters, and stump pullers, execute it. These machines typically include interchangeable, mounted equipment that is appropriate for the sort of work being done. Mechanical shovels and multi-bucket excavators, trench diggers, single-bucket loaders, and hydro mechanization equipment are among the machines employed. To compact earth in embankments and materials in roadbeds, vibration rollers and static road rollers with metal rolls and pneumatic tires are utilized.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Caterpillar Inc. (United States), Komatsu Ltd. (Japan), Xuzhou Construction Machinery Group (China), Sany Heavy Industries (China), Zoomlion (China), CNH Industrial NV (United Kingdom), Deere & Company (United States), JCB India Limited (India), Volvo Group (Sweden) and Doosan Infracore (South Korean) |
According to AMA, the market for Construction Machinery- is expected to register a CAGR of 6.6% during the forecast period to 2030. This growth is primarily driven by Adoption of advanced construction machinery and Increasing construction and infrastructure investment.
Globally, a noticeable market trend is evident Growing adoptions of AI-powered machines Major Manufacturers, such as Caterpillar Inc. (United States), Komatsu Ltd. (Japan), Xuzhou Construction Machinery Group (China), Sany Heavy Industries (China), Zoomlion (China), CNH Industrial NV (United Kingdom), Deere & Company (United States), JCB India Limited (India), Volvo Group (Sweden) and Doosan Infracore (South Korean), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market soon. Players are anticipated to focus on the development of electric and hydraulic compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Key Developments in the Market:
In November 2023, CRH, the global leader in building materials solutions, and Volvo Group, the leader in transport and infrastructure solutions, signed a Memorandum of Understanding (MoU) to accelerate net-zero innovations in the design and deployment of on-road vehicles and off-road equipment used in construction with a focus on next-generation technology deployment, scaling cutting-edge technology, and operational efficiency.
In February 2022- Flexcavo, a Berlin-based construction technology company, has increased its capital for its construction machinery fleet by USD 8 million. Furthermore, the intended funds will be used to purchase a newly developed rental park in Maisach, Munich. Furthermore, JCB and Wacker Neuson have already planned around 150 new pieces of construction machinery and equipment for the 4,500 square meter site
Influencing Trend:
Growing adoptions of AI-powered machines
Market Growth Drivers:
Adoption of advanced construction machinery and Increasing construction and infrastructure investment
Challenges:
Lack of harmonized emission regulations globally
Restraints:
The use of construction machinery results in an environmental imbalance
Opportunities:
Electric and autonomous construction equipment
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Construction Machinery- Market
- Analysis about New Entrants in Construction Machinery- Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Construction Machinery- Study Sheds Light on
The Construction Machinery- Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Construction Machinery- industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Construction Machinery- industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.