Construction Equipment Market - Trends Forecast Till 2028

Market Overview

The global Construction Equipment market size is projected to reach USD 250.8 billion by 2026 at a CAGR of 3.9% from USD 208.4 billion in 2021 during the forecast period 2021-2028.

There is various construction equipment which are used for construction some of thee include Dragline excavator, bulldozer, graders, wheel tractor scraper. The type and the equipment used during the construction vary as per the project like the construction of railway track will deploy different equipment than the ones used in building houses. Depending on the purpose and use the equipment are classified as earth moving equipment, construction vehicle, material handling equipment.

Due to the recent surge in investments in the sector along with OEM centric connected features are some of the factors that have supported long-term expansion for Construction Equipment Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe and has also greatly affected construction equipment market as different countries went under nationwide lockdown across the globe. All the construction activities were stopped, however now with the resumption of construction activities the sector has started to see positive growth.

Regional Analysis

North America is expected to be the largest market during the forecast period. The construction industry in us is all set to be back on track with the low interest rate loan for buying construction equipment have led to growth in the construction equipment in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key players

• Caterpillar Inc.
• Sany Heavy Industries
• Xuzhou Construction Machinery Group (XCMG)
• Komatsu Ltd.
• Zoomlion

Recent Developments

• In August 2019, Nine new Cat D3 Series Skid Steer Loader (SSL) and Compact Track Loader (CTL) models release was announced by Caterpillar. These new models were designed so as to ensure improved operator experience, comfort and track loader stability.
• In April 2019, Volvo Construction Equipment (Volvo CE) launched a commercial zero-emission electric compact excavator and wheel loader which was the first in the series by the company. The machines from the electric range by the company had branded compact excavators and compact wheel loader also delivered better efficiency and lowered sound emission.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Construction Equipment market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope