Construction Equipment Industry Overview
Study Period: Fastest Growing Market:Asia PacificLargest Market:EuropeCAGR:> 6 %Major Players
*Disclaimer: Major Players sorted in no particular order
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Customize This ReportThe development gear market was valued at USD 161 billion in 2020, and it is anticipated to achieve USD 228 billion by 2026, registering a CAGR of over 6% through the forecast period ( ).
The outbreak of COVID-19 and the next shutdowns affected the construction trade in several nations. The adverse impacts of the pandemic are seen in numerous main project timelines.
The rising concentrate on infrastructure and the event of automation within the construction and manufacturing processes had a big impression on the market progress. The road construction equipment market witnessed vital development in the current previous, owing to the increased highway development packages undertaken by the central and state governments, especially in Asia-Pacific.
The demand for machines which are cost-effective, with regulatory pressures for lower emissions, is pressurizing construction tools manufacturers to go for electrical and hybrid vehicles over the standard hydraulic and mechanical ones.
The renting or leasing of development tools has been on the rise, owing to the equipment value and the price of the upkeep process. Apart from the fee, there are also different advantages associated with renting the development tools. Rental companies present the equipment, with the required skilled machine operators and drivers included in the rent.
The building industry is getting smarter. Digitalization, connectivity, and automation are driving the development forward, leaving a substantial impression on building projects. Moreover, renting companies geared up in investing in new technologies to cope with the growing demand for advanced construction equipment and replace the older ones with new or upgraded equipment fleet.
Construction Equipment Industry Segments
The Construction Equipment Market is Segmented by Machinery Type (Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader, and Other Machinery Types), by Drive Type (Hydraulic, Electric, and Hybrid), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts for Construction Equipment in worth (USD Billion) for all of the above segments.
EquipmentType Cranes Telescopic Handler Excavator Loader and Backhoe Motor Grader Other Equipment Types Drive Type Hydraulic Electric and Hybrid Geography North America United States Canada Mexico Europe Germany United Kingdom France Italy Rest of Europe Asia-Pacific China India Japan South Korea Rest of Asia-Pacific Rest of the World South America Middle-East and Africa Report scope could be custom-made per your necessities. Click here.
Construction Equipment Market Trends
This section covers the major market tendencies shaping the Construction Equipment Market according to our research experts:
Crane is Expected to be the Largest Segment
The massive building tasks worldwide are expected to drive the crane and construction equipment market shortly. Europe is planning on varied building initiatives. Germany, France, and Italy witnessed the highest growth rates because of the region’s construction tasks. The tasks embrace the port extension, underwater tunnel connecting main European countries, and railway tunnels, including using many kinds of cranes, driving the complete crane market.
For instance, in March 2021, Rothmund GmbH Kran und Montage bought its second LTM .1 from Liebherr after shopping for the first six months in the past. In the same month, Schussmann Kranservice GmbH also obtained the new LTM .1.
Africa and Latin America are anticipated to emerge as good markets publish 2021, improving the financial system, and abroad investments are anticipated to encourage extra infrastructural improvement and development activity.
The North American crane count reached a model new peak. Approximately 40% of the total crane count in North America is working for the residential market. Toronto is leading this market, with 70 cranes devoted to high-rise cooperative projects. Mixed-use development is the second-largest market, making up almost 25% of all cranes in North America.
The improve in web crane rely indicates that the development market is holding regular and prospering. This development will continue as many cities in North America continue to add to their roster of proposed developments.
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Asia-Pacific is Expected to Dominate the Global Market
Asia-Pacific ranks first in the construction gear market, with a major market share held by China, India, and Japan. The progress of the South-North water transfer plant project in China, anticipated to complete by 2050, will deploy numerous development equipment either by leasing or proudly owning the machinery, thereby rising the demand for construction machinery over the next three decades.
The increasing variety of dam building, real-estate business, business and residential complexes, and enlargement of rail and road infrastructure in the APAC area are a couple of drivers for the development machinery market.
Companies are introducing dedicated merchandise for the region. For occasion, in December 2020, Komatsu announced that it would roll out inexpensive excavators in Southeast Asia. A midsize, 20-ton-class excavator for residential land development and highway building might be marketed in Thailand and Indonesia starting in April 2021.
Manufacturers of construction gear try to scale back their dependence on gasoline and diesel, as regulators in Asia set ambitious goals to become carbon impartial by 2040. For instance, in January 2021, Komatsu introduced partnering with Proterra to use battery packs in Komatsu’s electrical hydraulic excavators. The firm will use Proterra’s battery methods to develop a proof-of-concept electric excavator by the top of 2021.
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Construction Equipment Market Competitor Analysis
Some of the major firms that dominated the market studied are Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, and XCMG, which captured a major share of the market.
The development tools market is characterised by numerous worldwide and regional gamers, leading to a highly aggressive market environment. Apart from the highest players, small-scale or domestic players account for a big share of the market.
Construction Equipment Market Top Players
1. Caterpillar Inc.
2. Kobelco Construction Machinery Co., Ltd
3. CNH Industrial NV
4. Liebherr-International Deutschland GmbH
5. Komatsu Ltd
*Disclaimer: Major Players sorted in no particular order
Construction Equipment Market Report – Table of Contents
1. 1. INTRODUCTION . 1.1 Study Assumptions . 1.2 Scope of the Study
2. 2. RESEARCH METHODOLOGY
three. three. EXECUTIVE SUMMARY
four. 4. MARKET DYNAMICS . four.1 Market Drivers . 4.2 Market Restraints . four.three Industry Attractiveness – Porter’s Five Force Analysis . 4.3.1 Threat of New Entrants . four.three.2 Bargaining Power of Buyers/Consumers . 4.3.three Bargaining Power of Suppliers . 4.three.4 Threat of Substitute Products . 4.three.5 Intensity of Competitive Rivalry
5. 5. MARKET SEGMENTATION . 5.1 EquipmentType . 5.1.1 Cranes . 5.1.2 Telescopic Handler . 5.1.3 Excavator . 5.1.4 Loader and Backhoe . 5.1.5 Motor Grader . 5.1.6 Other Equipment Types . 5.2 Drive Type . 5.2.1 Hydraulic . 5.2.2 Electric and Hybrid . 5.three Geography . 5.3.1 North America . 5.3.1.1 United States . 5.three.1.2 Canada . 5.three.1.3 Mexico . 5.3.2 Europe . 5.3.2.1 Germany . 5.3.2.2 United Kingdom . 5.3.2.three France . 5.three.2.4 Italy . 5.three.2.5 Rest of Europe . 5.3.3 Asia-Pacific . 5.3.three.1 China . 5.three.3.2 India . 5.3.three.3 Japan . 5.3.three.4 South Korea . 5.3.three.5 Rest of Asia-Pacific . 5.three.four Rest of the World . 5.3.4.1 South America . 5.3.four.2 Middle-East and Africa
6. 6. COMPETITIVE LANDSCAPE . 6.1 Vendor Market Share . 6.2 Company Profiles* . 6.2.1 Caterpillar Inc. . 6.2.2 CNH Industrial NV . 6.2.three Hitachi Construction Machinery Co. Ltd . 6.2.four Deere & Company . 6.2.5 Kobelco Construction Machinery Co. Ltd . 6.2.6 Komatsu Ltd . 6.2.7 Liebherr-International Deutschland GmbH . 6.2.8 Volvo Group . 6.2.9 Zoomlion Heavy Industry Sci & Tch Co. Ltd . 6.2.10 Terex Corporation . 6.2.11 Sany Heavy Industry Co. Ltd . 6.2.12 XCMG Construction Machinery Co. Ltd
7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Construction Equipment Market Research FAQs
What is the research period of this market?
The Construction Equipment Market is studied from .
What is the growth rate of Construction Equipment Market?
The Construction Equipment Market is growing at a CAGR of >6% over the next 5 years.
What is Construction Equipment Market measurement in 2018?
The Construction Equipment Market is valued at 161 Billion USD in 2018.
What is Construction Equipment Market measurement in 2028?
The Construction Equipment Market is valued at 228 Billion USD in 2028.
Which region has highest progress price in Construction Equipment Market?
Asia Pacific is growing at the highest CAGR over .
Which area has largest share in Construction Equipment Market?
Europe holds highest share in 2021.
Who are the vital thing gamers in Construction Equipment Market?
Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Liebherr-International Deutschland GmbH, Komatsu Ltd are the major corporations working in Construction Equipment Market.
Construction Equipment Industry Reports
In-depth business statistics and market share insights of the Construction Equipment Market sector for 2020, 2021, and 2022. The Construction Equipment Market research report supplies a complete outlook of the market dimension and an industry progress forecast for 2023 to 2028. Available to obtain is a free pattern file of the Construction Equipment Market report PDF.
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