(MENAFN- GlobeNewsWire - Nasdaq) Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global construction equipment market share was remunerated at USD 169.3 billion in 2020 and is anticipated to record a y-o-y growth rate of 4% over 2021-2027, eventually accumulating a valuation of USD 222.79 billion by the end of study period.
The study also offers a detailed analysis of the sub-markets, including product type, along with geographical landscape, thus revealing the prominent opportunities for investment in the upcoming years. An exclusive study of industry value chain, from the suppliers to the distributors and consumers, is entailed in the document.
Increasing investments by governments to develop infrastructure, rising population leading to increase in residential construction, along with launch of innovative products by established players for catering to the needs of several industries are the major factors catalyzing the market growth.
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As per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in the U.S., the housing completion rate in August 2021 was 1,330,000 units, which was 9.4% higher as compared to the housing completion rate in August 2020, which was 1,216,000 units.
In addition, increasing trend of rental services, coupled with technological advancements are positively swaying the industry dynamics.
Speaking of negatives, increasing environmental imbalance due to rising use of construction equipment, along with high cost of these equipment are likely to hamper the overall market progression over the period of 2021-2027.
Geographical outlook
The regional analysis of global construction equipment market consists of North America, Asia Pacific, Europe, and Latin America.
Experts cite that Asia Pacific market is likely to garner significant returns over the assessment period owing to increasing investment by government in infrastructure development, and growing population resulting into augmented residential construction activities in the region.
Summarizing the competitive scope
Prominent players swaying the worldwide construction equipment industry dynamics are Terex Corporation, Sumitomo Heavy Industries Ltd., Sany Heavy Industry Co. Ltd., Mitsubishi Corporation, Manitou Group, Volvo Construction Equipment, Hitachi Construction Machinery Co. Ltd., Deere & Company, Komatsu Ltd., and Caterpillar Inc.
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Global Construction Equipment Market by Product Type (Revenue, USD Billion, 2018-2027)
- Earth Moving Machinery
- Material Handling Machinery
- Concrete & Road Construction Machinery
Global Construction Equipment Market by Earth Moving Machinery (Revenue, USD Billion, 2018-2027)
- Excavators
- Loaders
- Others
Global Construction Equipment Market by Material Handling Machinery (Revenue, USD Billion, 2018-2027)
- Crawler Cranes
- Trailer Mounted Cranes
- Truck Mounted Cranes
Global Construction Equipment Market by Concrete & Road Construction Machinery (Revenue, USD Billion, 2018-2027)
- Concrete Mixer & Pavers
- Construction Pumps
- Others
Global Construction Equipment Market Regional Terrain (Revenue, USD Billion, 2018-2027)
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
North America
Latin America
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
Rest of the World
Global Construction Equipment Market Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Terex Corporation
- Sumitomo Heavy Industries Ltd.
- Sany Heavy Industry Co. Ltd.
- Mitsubishi Corporation
- Manitou Group
- Volvo Construction Equipment
- Hitachi Construction Machinery Co. Ltd.
- Deere & Company
- Komatsu Ltd.
- Caterpillar Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Construction Equipment Market, by region, 2019-2027 (USD Billion)
1.2.2. Construction Equipment Market, by Product, 2019-2027 (USD Billion)
1.2.3. Construction Equipment Market, by Earth Moving Machinery, 2019-2027 (USD Billion)
1.2.4. Construction Equipment Market, by Material Handling Machinery, 2019-2027 (USD Billion)
1.2.5. Construction Equipment Market, by Concrete and Road Construction Machinery, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Construction Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Construction Equipment Market Dynamics
3.1. Construction Equipment Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Growing investment by various governments to develop infrastructure
3.1.1.2. Increasing residential construction
3.1.2. Market Restraint
3.1.2.1. High cost of construction equipment
3.1.2.2. Rise in environmental imbalance due to use of construction equipment
3.1.3. Market Opportunities
3.1.3.1. Technological advancements
3.1.3.2. Growing trend of rental services
Chapter 4. Global Construction Equipment Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Construction Equipment Market, by Product
5.1. Market Snapshot
5.2. Global Construction Equipment Market by Product, Performance - Potential Analysis
5.3. Global Construction Equipment Market Estimates & Forecasts by Product 2018-2027 (USD Billion)
5.4. Construction Equipment Market, Sub Segment Analysis
5.4.1. Earth Moving Machinery
5.4.2. Material Handling Machinery
5.4.3. Concrete & Road Construction Machinery
Chapter 6. Global Construction Equipment Market, by Earth Moving Machinery
a. Market Snapshot
6.1. Global Construction Equipment Market by Earth Moving Machinery, Performance - Potential Analysis
6.2. Global Construction Equipment Market Estimates & Forecasts by Earth Moving Machinery 2018-2027 (USD Billion)
6.3. Construction Equipment Market, Sub Segment Analysis
6.3.1. Excavators
6.3.2. Loaders
6.3.3. Others
Chapter 7. Global Construction Equipment Market, by Material Handling Machinery
b. Market Snapshot
7.1. Global Construction Equipment Market by Material Handling Machinery, Performance - Potential Analysis
7.2. Global Construction Equipment Market Estimates & Forecasts by Material Handling Machinery 2018-2027 (USD Billion)
7.3. Construction Equipment Market, Sub Segment Analysis
7.3.1. Crawler Cranes
7.3.2. Trailer Mounted Cranes
7.3.3. Truck Mounted Cranes
Chapter 8. Global Construction Equipment Market, by Concrete and Road Construction Machinery
c. Market Snapshot
8.1. Global Construction Equipment Market by Concrete and Road Construction Machinery, Performance - Potential Analysis
8.2. Global Construction Equipment Market Estimates & Forecasts by Concrete and Road Construction Machinery 2018-2027 (USD Billion)
8.3. Construction Equipment Market, Sub Segment Analysis
8.3.1. Concrete Mixer & Pavers
8.3.2. Construction Pumps
8.3.3. Others
Chapter 9. Global Construction Equipment Market, Regional Analysis
Related Report:
Construction Equipment Market Size, COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
The construction equipment market is estimated to record momentous gains by 2027 owing to the proliferating public infrastructure development and road building activities, rising investments in the development of smart cities and technological advancements. Construction equipment covers all heavy-duty vehicles, which are specifically designed for conducting various construction-related tasks, most commonly those involving earth-moving operations. Heavy construction equipment are mainly utilized for a plethora of different purposes in large projects. On the regional front, construction equipment market in MEA is poised to grow at a CAGR of 3% over the assessment time period. Rising investments in the development of smart cities and robust transportation network will accelerate the regional market growth.
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