The Construction Equipment Market is expected to grow from USD 161 billion in 2020 to USD 228 billion by 2026 at a CAGR of 6% from 2020 to 2026.
Also referred as heavy equipment, the construction equipment is designed for performing construction tasks. It is used for dozing, hauling, grading, compacting and leveling, transferring heavy loads, placing materials and excavating and digging the ground. It includes ditchers, bulldozers, graders, pumps, tractors, excavators, trenchers, cranes, loaders, derricks and backhoes. It also consists of pavers, scrapers, concrete mixers, generators, pile drivers, off-highway haulers and trucks and compactors and rollers. Rising investments by governments around the world for developing public infrastructure has been one of the vital factors propelling the market demand for this equipment. Furthermore, the surging population in developing economies such as India has resulted in increased residential and commercial construction activities. Therefore, the market is projected to expand steadily over the forecast period. The rising public-private partnerships to implement infrastructure work along with the wide-scale adoption of the rental business model have induced a surged demand for this equipment over the past few years. Various types of construction machinery are purchased to perform a set of specific tasks and need technical expertise in operating them. The construction machinery is a high-priced commodity; therefore not every builder, contractor, or construction firm could afford to purchase it. Also, there are several construction projects which require construction machinery temporarily. The cost of machinery has surged over the past few years due to the integration of advanced safety technologies, which has increased the end user’s inclination towards purchasing these types of machinery on a rental basis. The rental providers have recognized the growth opportunity and begin to upgrade their current fleet, thereby propelling the demand for construction equipment. Further, the factors such as stringent government regulations and carbon emissions are projected to restrain the market growth.
In addition, to save on the cost of machinery and cost associated to its maintenance and repairs, contractors, small builders and construction firms take machinery on a rental basis from the rental service providers. Various companies are entering the construction equipment rental business due to its high profitability. Construction equipment is very strong machinery with a life span of 7 to 10 years, owing to which companies prefer to rent out old machinery for profit. This rising trend of equipment rental business is a crucial factor in promoting the market growth.
The global Construction Equipment Market is segregated on the basis of Product as Earth Moving Machinery, Material Handling Machinery and Concrete & Road Construction Machinery. Based on Earth Moving Machinery the global Construction Equipment Market is segmented in Excavators, Loaders and Others. Based on Material Handling Machinery the global Construction Equipment Market is segmented in Crawler Cranes, Trailer Mounted Cranes and Truck Mounted Cranes. Based on Concrete and Road Construction Machinery the global Construction Equipment Market is segmented in Concrete Mixer & Pavers, Construction Pumps and Others.
The global Construction Equipment Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Construction Equipment Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Caterpillar Private Limited, Hitachi Construction Machinery Co Ltd, J C Bamford Excavators Ltd, Sandvik Mining And Rock Technology, CNH and others are among the major players in the global Construction Equipment Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Construction Equipment Market has been segmented as below:
Construction Equipment Market, By Product
Construction Equipment Market, By Earth Moving Machinery
Construction Equipment Market, By Material Handling Machinery
Construction Equipment Market, By Concrete and Road Construction Machinery
Construction Equipment Market, By Region
Construction Equipment Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Construction Equipment Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Construction Equipment Market share. Major industry players with significant revenue share include Caterpillar Private Limited, Hitachi Construction Machinery Co Ltd, J C Bamford Excavators Ltd, Sandvik Mining And Rock Technology, CNH and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Construction Equipment Market, By Product
5.1. Key Points
5.2. Earth Moving Machinery
5.3. Material Handling Machinery
5.4. Concrete & Road Construction Machinery
6. Construction Equipment Market, By Earth Moving Machinery
6.1. Key Points
6.2. Excavators
6.3. Loaders
6.4. Others
7. Construction Equipment Market, By Material Handling Machinery
7.1. Key Points
7.2. Crawler Cranes
7.3. Trailer Mounted Cranes
7.4. Truck Mounted Cranes
8. Construction Equipment Market, By Material Handling Machinery
8.1. Key Points
8.2. Crawler Cranes
8.3. Trailer Mounted Cranes
8.4. Truck Mounted Cranes
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Construction Equipment Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Caterpillar Private Limited
10.2. Hitachi Construction Machinery Co Ltd
10.3. J C Bamford Excavators Ltd
10.4. Sandvik Mining And Rock Technology
10.5. CNH
10.6. Doosan Infracore
10.7. Epiroc
10.8. John Deere Ltd
10.9. Kobe Steel Ltd
10.10.Komatsu
10.11. Kubota Corporation
10.12. Liebherr
10.13. Metso
10.14. Sany
10.15. Terex Corporation
10.16. Volvo Construction Equipments
10.17. XCMG Zoomlion
Construction Equipment Market, By Product
Construction Equipment Market, By Earth Moving Machinery
Construction Equipment Market, By Material Handling Machinery
Construction Equipment Market, By Concrete and Road Construction Machinery
Construction Equipment Market, By Company