About Construction Equipment
Construction equipment encompasses a diverse range of heavy machinery and vehicles utilized in construction projects. These specialized machines are indispensable for tasks crucial in building structures, roads, bridges, dams, and various infrastructures. Their pivotal role lies in enhancing efficiency, minimizing labor-intensive efforts, and enhancing the overall quality and speed of construction endeavors. The global construction equipment market is driven by several factors, including rapid urbanization, infrastructural development projects, and a growing need for modernizing existing structures. Increasing investments in construction and transportation sectors by governments worldwide fuel market growth. Moreover, technological advancements, such as IoT integration and automation, enhance equipment efficiency and safety standards, further stimulating market expansion. However, the industry faces challenges due to the fluctuating costs of raw materials and stringent environmental regulations, which may hinder market growth. Despite these challenges, there are significant opportunities in emerging economies where urbanization is on the rise, creating a demand for construction equipment.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that Japnese Manufacturers will contribute the maximum growth to Global Construction Equipment market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar (United States), Komatsu Corporation (Japan), Hitachi, Ltd (Japan), Volvo CE (Sweden), Liebherr (Switzerland), XCMG (China), Doosan Corporation (South Korea), John Deere (United States), Sany Group (China), Zoomlion Heavy Industry Science &Technology Co. (China), Fayat Group (France), Sakai Heavy Industries,Ltd (Japan) and Sunward Equipment Group (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Construction Equipment market by Type (Articulated Dump Truck, Rigid Dump Truck, Backhoe Loader, Crawler Dozer, Crawler Excavator, Concrete Mixer, Motor Grader, Road Roller and Others), Application (Infrastructure, Commercial Buildings, Residential Buildings and Industrial Buildings) and Region.
On the basis of geography, the market of Construction Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Equipment Category, the sub-segment i.e. Earthmoving Equipment will boost the Construction Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Construction Equipment Power (HP), the sub-segment i.e. <100 will boost the Construction Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing investments in infrastructure development projects worldwide and Rise in the urbanization and population growth
Challenges:
Stringent government rules and regulations
Restraints:
High initial costs and maintenance expenses
Opportunities:
Growing opportunities in emerging regions and Development of energy-efficient and eco-friendly construction equipment
In October 2021, Volvo Construction Equipment (Volvo CE) launched three new electric powered compact machines including L20 Electric compact wheel loader, EC18 Electric compact excavator and ECR18 Electric compact excavator.
Key Target Audience
Construction equipment manufacturers, Engine manufacturers, Construction equipment dealers and Rental equipment providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.