San Francisco, 2 April 2019: The Report Construction Equipment Market Size, Share & Trends Analysis Report By Product Type
(Earth Moving, Material Handling, Concrete & Road Construction), By Region,
And Segment Forecasts, 2018 - 2025
The global construction equipment market size is expected to reach USD 112.52 billion by 2025,
according to a new report by Grand View Research, Inc. It is anticipated to
expand at a CAGR of 4.8% over the forecast period. Increasing government
spending on developing public infrastructure has been a major factor driving
market growth. In addition, growing trend of renting used construction
equipment has led to rise in demand for construction equipment.
Earth moving machinery accounted for the
highest market share in 2017. Increasing demand for large and mini excavators,
backhoe loaders, and such other heavy construction equipment from developing
countries is driving the market growth. Although China is considered as a
market leader for these equipment, the country has faced a steep decline in
sales over the last few years. The concrete and road construction machinery
segment is anticipated to grow at the highest CAGR of 7.0% over the forecast
period.
Concrete and road machinery include
equipment such as asphalt pavers, rollers, and transit mixers used in road
development of roads and transportation of concrete material. Road construction
projects are anticipated to be a key driver for this product segment. For
instance, in U.S., investment in roadways construction is expected to increase from
nearly USD 91.0 billion in 2016 to USD 99.0 billion by 2020.
Among excavators, loaders, and other such
earth moving machinery segments, excavator is anticipated to capture highest
market share by 2025. Rapid technological advancements, better capacity, and
increased productivity are key drivers for growth. Demand for loaders is
expected to boost owing to increased requirement from Chinese market. Other
earth moving equipment such as dozers are anticipated to grow at very high
pace, owing to high demand from mining sector.
Truck mounted cranes dominated the material
handling machinery market in 2017, owing to better product design and
transportability. These all terrain cranes are useful in almost all working
conditions especially for small construction projects. The crawler crane
segment is anticipated reach USD 3.67 billion market by 2025. These cranes are
highly powerful and sturdy in nature, thus, useful for large operations and
moving large weights.
The concrete mixer and paver segment
accounted for over 56% market share in 2017. Increasing mega construction
projects in cities and rapid pace of urbanization boosted demand for the
segment.
North America emerged as the global leader
for heavy construction equipment in 2016. China slowdown helped North American
companies to capture greater market share worldwide. For instance, North
America accounted for greater than 75% demand for skid steer loaders in 2016.
However, falling commodity prices has slowed down growth of construction and
mining industry in 2017. Demand for earth digging equipment such as mini
excavators has jumped in Middle East and Africa owing to growing mining
activities.
Access Research Report of Construction Equipment Market @ https://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis
Further key findings from the report suggest:
· Earth moving machinery segment is
anticipated to grow at CAGR of 3.8% from 2018 to 2025
· Excavator is the largest earth moving
machinery segment and is anticipated to reach USD 46.41 billion by 2025 owing
to increasing construction and mining activities in Asia Pacific, and Middle
East and Africa
· North America is leading the construction
equipment market with a value of USD 27.88 billion in 2017
· Key players including Caterpillar Inc.;
Komatsu; Hitachi Construction Machinery; Liebherr and Volvo Construction
Equipment dominated the global market in 2017.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has
segmented the global construction equipment market on the basis of product,
sub-product, and region:
Construction Equipment Product Type Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Earth Moving Machinery
·
Material Handling Machinery
·
Concrete & Road Construction Machinery
Earth Moving Machinery Type Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Excavators
·
Loaders
·
Others
Material Handling Machinery Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Crawler Cranes
·
Trailer Mounted Cranes
·
Truck Mounted Cranes
Concrete and Road Construction Machinery
Outlook (Revenue, USD Billion, 2015 - 2025)
·
Concrete Mixer & Pavers
·
Construction Pumps
·
Others
Construction Equipment Regional Outlook
(Revenue, USD Billion, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Construction Equipment Market@ https://www.grandviewresearch.com/press-release/global-construction-equipment-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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