Construction Equipment Market worth $205.0 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 4, 2020 /PRNewswire/ -- According to the new market research report "Construction Equipment Market by Type (Excavator-Crawler & Mini, Loader-Backhoe, Skid-steer, Wheel, Dozer, Dump Truck), Electric Equipment, Propulsion, Power Output, Application, Rental, Aftertreatment Device, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Construction Equipment Market size is projected to reach USD 205.0 billion by 2025, from an estimated value of USD 169.3 billion in 2020, at a CAGR of 3.9%.
Rapid urbanization leading to increased demand for housing projects is expected to boost the Construction Equipment Market. The increasing number of infrastructure projects and mega construction projects are further anticipated to fuel the demand for construction equipment during the forecast period.
Browse in-depth TOC on "Construction Equipment Market"
198 – Tables
56 – Figures
267 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 179948937
<5L segment by engine capacity is expected to have the largest market during the forecast period from 2020 to 2025
Engine capacity with <5L is used extensively in compact excavators that are used in applications such as urban civil engineering, housing, snow removal, forestry, and landscaping. The growing demand for housing projects due to increasing population and increasing commercial construction is anticipated to bolster the demand for lower engine capacity construction equipment. Compact construction equipment is best suitable for urban infrastructure projects due to their design and maneuverability.
The commercial segment by rental Construction Equipment Market is expected to register the highest growth rate during the forecast period
The commercial (or non-residential) segment includes office spaces, manufacturing facilities, warehouses, hotels, restaurants, educational buildings, hospitals, and other non-residential buildings. According to the America Institute of Architects (AIA), the non-residential construction industry is anticipated to witness positive growth in the near future, owing to the commercial developments in emerging economies like India and China. Thus, the renting of construction equipment acts as a viable option for local players engaged in constructing commercial projects to cut down initial investments.
The commercial construction in Asia's emerging economies (majorly India, China, and Indonesia) is likely to drive the demand for rental construction equipment during the forecast period. However, the demand for rental construction equipment for the development of healthcare facilities, education centers, warehouses, data centers is likely to outperform in North America and Europe due to the COVID-19 pandemic in 2020.
Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id= 179948937
North America is estimated to be the second-largest market
The construction industry in the US is expected to grow at a decent rate against federal spending cutbacks. However, low-interest rate loans to procure construction equipment will encourage investments by the construction companies. According to the Associated General Contractors of America (AGC), the construction market is estimated to grow at more than 3% in August 2020, largely attributed to increased residential construction and construction spending. Therefore, the demand for residential construction activities and major investment in infrastructural projects is expected to drive crawler excavators and wheeled loaders in the country.
The Construction Equipment Market is dominated by globally established players such as Caterpillar Inc. (US), Komatsu Ltd. (Japan), Deere & Company (US), Hitachi Construction Machinery Co., Ltd (Japan), and Volvo Construction Equipment (Sweden). These companies developed new products, adopted expansion strategies, undertook collaborations & partnerships, and used mergers & acquisitions to gain traction in the Construction Equipment Market.
Browse Related Reports:
Electric Off-highway Vehicle Market by Equipment Type (Excavator, Motor Grader, Dozer, Loader, LHD, Dump truck, Lawnmower, Sprayer, Tractor), Application, Propulsion, Battery Type, Battery Capacity, Power Output and Region - Global Forecast to 2025
Farm Equipment Market by Tractor Power Output (<30,31–70,71–130,131–250,>250HP), Drive (2WD,4WD) & Autonomous, Combines, Baler, Sprayer, implement (Plowing & Cultivating, Sowing & Planting, Harvesting & Threshing), Rental & Region - Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/construction-mining-equipment-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/construction-mining-equipment.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article