Construction Equipment Market Size, Share, Trends andForecast by 2028 

ConstructionEquipment Market

· contruction

Construction Equipment Market

The Construction Equipment Market was estimated at USD 189.6 billion in 2020, and is projected to reach USD 261.4 billion by the end of 2028, expanding at a CAGR of 4.1% over the forecast period (2020-2028).

The factors driving the growth of Construction Equipment Market includes increase in the construction activities in the residential and commercial areas around the world, rise in the number of smart cities and growing use of construction equipment in the agriculture industry. According to the report published by Bloomberg, the Global Smart City Market is anticipated to reach USD 1874.83 billion by the end of 2029, growing at a CAGR of 21.68% over the forecast period (2022-2029), which will boost the Construction Equipment Market share in the approaching years. Moreover, the increasing investments by Governments across the globe on the infrastructure projects, technological advancements in the construction equipment and home loans provided by different banks worldwide, are some of the additional factors supplementing the Construction Equipment Market size. In addition, increasing preference for Public-Private Partnership Models for the construction of airport, schools, hospitals and bridges, rapid urbanization, rising disposable incomes and improvements in the living standards, are further contributing to the market growth.

However, the growth of Construction Equipment Market is hindered due to high cost of construction equipment.

The prominent players operating in the market are Zoomlion, CNH Industrial, Hitachi Construction Machinery, Volvo Construction Equipment, Liebherr, John Deere, Caterpillar, Komatsu, Terex, and JCB, among others.

Type: Segment Analysis

Based on Type, the Excavators & Loaders segment is expected to hold the highest market share during the forecast period attributed to their increasing use for digging holes, trenches, brush cutting and other activities.

Category: Segment Analysis

As per the Construction Equipment Market Trends, the Earthmoving Equipment segment is estimated to grow at a significant CAGR over the forecast period. The earthmoving equipment are increasingly used in the construction activities because they reduce the cost in large scale projects and improves the safety of the workers, are some of the factors responsible for the segment’s growth.

Application: Segment Analysis

Based on Application, the Residential Buildings segment is anticipated to expand at a remarkable CAGR during the forecast period attributed to rise in the construction of residential apartments across the globe.

Regional: Segment Analysis

Based on Region, the Asia-Pacific region is estimated to capture the largest market share over the forecast period. Rise in the construction of bridges, highways, roads and commercial buildings, rapid growth in the real estate sector, increasing Government’s expenditure on the construction of smart cities and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Global Construction Equipment market by Type

  • Excavators & Loaders
  • Cranes & Draglines
  • Dozers & Off-highway Trucks
  • Others

Global Construction Equipment market by Application

  • Commercial Buildings
  • Industrial Buildings
  • Infrastructure
  • Residential Buildings

Global Construction Equipment market by Category

  • Material-Handling Equipment
  • Earthmoving Equipment
  • Heavy Construction Vehicles
  • Other Equipments

Global Construction Equipment market by Propulsion Type

  • Diesel
  • Gasoline

Global Construction Equipment market by Power Output

  • <100 Hp
  • 101-200 Hp
  • 201-400 Hp
  • >400 Hp

Global Construction Equipment Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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