The outbreak of COVID-19 has interrupted the growth construction, mining, and other industrial activities. Demand for construction equipment is contingent on the growth of these end-use industries, and with declining investments in these sectors, the construction equipment market is poised to experience a downward trend across the globe, in the near term.
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Demand for construction equipment is set to regain traction with an increase in investments made by governments in both, developed and developing countries, for infrastructure development projects. In addition, efforts made by governments to build highways, dams, railways, and roads as part of developing smart cities in the areas of energy, mobility, and government are projected to drive the sales of construction equipment in the foreseeable future.
The global construction equipment market is poised to expand at a value CAGR of close to 4%, and is expected to create an absolute dollar opportunity of US$ 61 Bn over the forecast duration 2020-2030.
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Key Takeaways from Construction Equipment Market Study
- Under the impact of COVID-19, the global construction equipment market is expected to reach a market valuation of US$ 180 Bn by the end of 2030.
- By equipment, demand for excavators is foreseen to grow 2.6X than cranes in 2020. On the other hand, cranes will account for 1/5 of the overall absolute dollar opportunity created during the forecast period.
- By power output, 200.1-400 HP construction equipment is projected to create an absolute $ opportunity of US$ 18 Bn from 2020 and 2030.
- By end use, the construction industry is projected to account for 42% of the total sales in 2020, and is anticipated to create an absolute $ opportunity of more than US$ 32 Bn during the forecast period 2020-2030.
- By region, East Asia is estimated to be the prominent construction equipment market, and is projected to surpass a market valuation of US$ 52 Bn by the end of 2030.
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Key Segments of Construction Equipment Market
Fact.MR’s study on the construction equipment market offers information divided into five key segments— equipment, power output, end use, ownership, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
|Equipment||ExcavatorsCrawlers ExcavatorsWheeled ExcavatorsMini ExcavatorsLoadersAsphalt PaversDozersDump TrucksCompaction Machines (Rollers)Concrete MixersMotor GradersCranesMobile CranesCrawler CranesTower CranesOthers|
|Power Output||Below 100 Hp100.1 to 200 Hp200.1 to 400 HpAbove 400 Hp|
|End Use||ConstructionMiningAgriculture & ForestryIndustrialOthers|
|Ownership||Rental OperatorsIndustrial & Commercial Enterprises|
|Region||North AmericaLatin AmericaEuropeEast AsiaSouth Asia & OceaniaMEA|
After reading the Construction Equipment Market report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
- Analyze key regions holding significant share of the total Construction Equipment Market revenue.
- Study the growth outlook of the global Construction Equipment Market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use on the Construction Equipment Market growth.
- Investigate the recent R&D projects performed by each Construction Equipment Market player.
The Construction Equipment Market report answers important questions which include:
- What does the status of the Construction Equipment Market look?
- Construction Equipment Market look like after the forecast period?
- Which region has the highest contribution to Construction Equipment Market Devices why?
- Which players remain at the top of the Construction Equipment Market look?
- What opportunities are available for the Construction Equipment Market players to expand their production footprint?
- Which segment has the maximum impact on Construction Equipment Market?
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