Construction Equipment Market to Reach $261.05 Bn, Globally, by 2027 at 4.3% CAGR, Says Allied Market Research

News provided by

Apr 02, 2020, 09:51 ET

PORTLAND, Oregon, April 2, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Construction Equipment Market by Solution Type (Products and Services), Equipment Type (Heavy Construction Equipment and Compact Construction Equipment), Type (Loader, Cranes, Forklift, Excavator, Dozers, and Others), Application (Excavation & Mining, Lifting & Material Handling, Earth moving, Transportation, and Others), and Industry (Oil & Gas, Construction & Infrastructure, Manufacturing, Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global construction equipment industry accounted for $184.50 billion in 2019, and is expected to reach $261.05 billion by 2027, growing at a CAGR of 4.3% from 2020 to 2027.

Major driving factors

Increase in the construction & infrastructure industry, rise in focus on public-private partnerships, and surge in popularity toward robust & compact equipment have boosted the growth of the global construction equipment market. However, stringent government regulations and carbon emission hamper the market growth. On the contrary, rapid technological innovations are expected to create lucrative opportunities in the near future.

Products segment dominated the market

The product segment held the largest share in 2019, accounting for nearly four-fifths of the global construction equipment market. This is due to rapid launch of advanced equipment to keep pace with technological advancement. However, the service segment is expected to register the highest CAGR of 5.5% during the forecast period, owing to increase in demand for maintenance and repair.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/652

Compact construction equipment segment to manifest fastest CAGR through 2027

The compact construction equipment segment is projected to portray the fastest CAGR of 5.9% from 2020 to 2027, as it offers versatile benefits in various industrial tasks, owing to their compact design as well as greater maneuverability capability. However, the heavy construction equipment dominated the global construction equipment market in 2019, accounting for more than 90% of the total revenue. This is due to growth in the demand for infrastructure development.

Asia-Pacific to become lucrative region, followed by LAMEA and North America

The market across the Asia-Pacific region held the largest share in 2019, contributing to more than two-fifths of the market. Moreover, the region would manifest the fastest CAGR of 5.4% of the market, owing to rapid technological advancements in developing countries such as China and India. The global construction equipment market across North America held more than one-fifth of the market.

Interested in Procuring this Report? visit: https://www.alliedmarketresearch.com/construction-equipment-market/purchase-options

Major market players

AB Volvo
CNH Industrial N.V.
Caterpillar Inc.
Doosan Infracore Co. Ltd.
Deere & Company
J C Bamford Excavators Ltd.
Hitachi Ltd.
Liebherr-International AG
Komatsu Ltd.
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)

Inquire for Purchase Report: https://www.alliedmarketresearch.com/purchase-enquiry/652

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Heavy Construction Equipment Market to Reach $193,245 Million by 2022

Mining Drills and Breakers Market to Garner $2,172.8 Million by 2025

Mining Equipment Market to Garner $188,773.0 Million by 2025

Agriculture Equipment Market to Garner $243.5 Billion by 2022

Pre-Book Now with 12% Discount:

Compaction Equipment Market- Global Opportunity Analysis and Industry Forecast, 2020-2027

Towing Equipment Market- Global Opportunity Analysis and Industry Forecast, 2020–2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]