Global Construction Machinery Market Is Expected To Grow At A Steady CAGR of 4% Through 2032

The global construction machinery market was valued at US$113 billion in 2021 and is projected to  grow  at a steady CAGR of 4% during the forecast period.  According to this growth rate, this industry is projected to reach a market size of  US$174 billion by 2032.

At the end of 2021, this market saw an increase in its growth and is therefore expected to reach a market valuation of  $117.52 billion by 2022  . Favorable government initiatives, such as stimulus packages and lower housing rates, which influenced consumers to buy new homes, are expected to drive market growth over the forecast period.

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Important insights from the market study

  • The global construction machinery market is estimated at US$117.52 billion
  • North America will show a CAGR of 3.4% in terms of construction equipment demand
  • More than 40% of revenue is expected to come from Asia-Pacific in 2022, averaging 4% growth.
  • By 2022, over 59% of total market sales are expected to come from the earthmoving segment.
  • The concrete and road construction machines are expected to reach a market share of 40 billion US dollars by 2032.

“Increasing government stimulus programs to boost housing, combined with lower housing rates, are prompting individuals to invest in housing projects. There is also a strong emphasis on strengthening public infrastructure, both of which will contribute immensely to market growth,” reports an analyst from Fact.MR.

competitive landscape

There are many major players in the market, making it very competitive. Many OEMs are currently facing short-term challenges such as a shortage of skilled workers and high raw material prices. As OEMs employ organic and inorganic growth strategies, they are expected to expand their customer bases and strengthen their market positions through joint ventures, partnerships, and mergers and acquisitions.

  • In January 2021, Komatsu Ltd. and Honda Motor Co.,Ltd. a joint development agreement. Komatsu and Honda have collaborated on the electrification of micro excavators (PCO1) and the development of Battery Power Packs (MPP) for use in construction machinery.
  • Manitex Vall launched its new electric mobile crane, the V 110 R, in February 2021. It has a lifting height of 10.4 meters and a lifting capacity of up to 11,000 kg and is battery operated and remote controlled.

Prominent Key Players of  Construction Equipment Market Survey Report:

  • Caterpillar
  • CNH Industrial NV
  • Doosan Corporation
  • Escorts limited
  • Hitachi Construction Machinery Co.Ltd.
  • Hyundai Construction Equipment Co.Ltd.
  • JC Bamford Excavators Ltd.
  • Deer & Company
  • Kobelco Construction Machinery Co.Ltd.
  • Komatsu Ltd.

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The report provides the following construction machinery market insights and assessments, which are helpful to all participants involved in the construction machinery market:

  • Data on recently introduced regulations and their impact on key industries and demand for construction machinery
  • Latest industry analysis on the Construction Equipment Market with key analyzes on market drivers, trends, and influencing factors
  • Key trends analysis of the construction machinery market and changing consumer preferences in key verticals.
  • Changed demand for construction machinery and consumption of various products
  • Key trends underscoring key investor funding in numerous countries
  • New investment opportunities in different technologies and types of products or services
  • Comprehensive data and competitive analysis of the major Construction Equipment players
  • Sales in the construction equipment market in the USA will continue to grow due to growing consumer confidence and the economic recovery
  • The demand forecast for construction machinery in Europe remains stable as many countries like the UK, France and Germany focus on fueling growth

Questionnaires Answered in Construction Equipment Market Report Include:

  • How has the construction equipment market grown?
  • What are the present and future prospects of the global construction machinery based on region?
  • What are the challenges and opportunities for the construction machinery?
  • Why is the consumption of construction machinery the highest in the region?
  • In what year is the segment expected to overtake the segment?

Key Segments Covered in Construction Equipment Industry Survey

  • By product
    • earthmoving machines
      • excavator
      • loader
      • Other
    • building material handling machines
      • crawler cranes
      • Trailer Mounted Cranes
      • Truck Mounted Cranes
    • Concrete and road construction machines
      • Concrete Mixers & Pavers
      • construction pumps
      • Other

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What makes the Fact.MR report different from others?

  • MR follows a six-point mechanism known as  EVOLVE (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.) . The report is specifically created to assess the impact of COVID-19 on the Construction Equipment market. This mechanism focuses on almost all factors in a specific way to provide the best research report to the market players.
  • Evaluate:  A Fact.MR report evaluates every small aspect that can prove to be a growth generator for Construction Equipment Market, making it different from other reports and special.
  • Visualize:  The authors involved in the research activities have visualized the post-COVID-19 era for the key market players to get an overview and help them to take specific steps to ensure continued growth over the forecast period.
  • Overcoming:  The report examines points that may prove to be the Achilles heel for the Construction Equipment market and helps in making strategies to overcome the obstacles that may be hampering the Construction Equipment market growth.
  • Leverage:  The Construction Equipment Market can leverage certain aspects that may prove beneficial in boosting its growth rate. Fact.MR covers all the points that the key stakeholders can rely on.
  • Verify:  The research is carried out systematically to ensure the validation of all aspects covered in the report. All points are re-checked and thoroughly verified to avoid errors and fake information.
  • Eliminate: Last but  not least, this aspect will help the major player to eliminate all the obstacles standing between the growth rate and the Construction Equipment market.

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