Construction equipment, also referred to as heavy equipment are used for carrying out construction operations. In addition to excavating and digging the earth, it is used for dozing, grading, hauling, compacting, and leveling materials. Several players are concentrating on reducing the fuel consumption of construction equipment at the moment due to growing environmental concerns and the growing need to promote energy conservation
The Construction Equipment Market size was valued at USD 177.82 Bn. in 2021 and the total revenue is expected to grow by 4.48% from 2022 to 2029, reaching nearly 252.49 Bn.
Construction Equipment Market Overview:
This Construction Equipment market study looks at current and emerging industry trends and dynamics in the global Construction Equipment market. Construction Equipment Extensive market forecasting for the major market segments is carried out between 2021 and 2027. Extensive Construction Equipment market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Construction Equipment market, key players are profiled and their strategies are thoroughly evaluated.
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Construction Equipment Market Scope:
The analysis contains a current examination of the present Construction Equipment market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Construction Equipment market environment. Increased demand for Construction Equipment is driving the market. The Construction Equipment market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
By Type, the Construction Equipment Market is segmented into Loader, Crane, Forklift, Excavator, Dozer, and Others. The Loader segment held the largest market share in 2021. Thanks to the increase of both new and current production facilities, rising household demand, rising disposable income, and government subsidies, loaders are seen to be growing exponentially. In addition, as automated loaders are integrated with smart tools like cellular, Bluetooth, and other sophisticated technologies, demand for them is growing. This function lessens the handling of human resources and aids in tracking the effectiveness and performance of the loaders.
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The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market's major influencing factors, as well as complete company profiles of
• SANY Group
• Xuzhou Construction Machinery Group
• Doosan Corporation
• Atlas Copco
• Deere & Company
• CASE Construction Equipment
• Ammann Group
• Hamm AG
• Martin Trailer Company
• MBW Inc.
• Thetford International
• Altrad Belle
• CNH Industrial America LLC
• AB Volvo
• Zoomlion Heavy Industry Science and Technology Co., Ltd
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Construction Equipment market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Construction Equipment Market:
The COVID-19 epidemic has had a significant impact on the global Construction Equipment industry. Construction Equipment Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Construction Equipment market to decelerate in 2020. The negative impact of COVID-19 on the Construction Equipment market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for Construction Equipment .
Key Questions Answered in the Construction Equipment Market Report are:
- Which segment was responsible for the largest share in the Construction Equipment market?
- How was the competitive scenario of the Construction Equipment market in 2020?
- Which are the key factors responsible for the Construction Equipment market growth?
- Which region held the maximum share in the Construction Equipment market in 2020?
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