Global construction equipment market size, share & trends analysis | 2019 – 2025

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Global Construction Equipment Market Overview

The Global construction equipment market was valued at USD XX million in 2015, and it is anticipated to reach USD XX million by 2025, growing at a cagr of XX% over the forecast period. Green construction of residential houses in developing countries such as India, China, Indonesia, and Brazil is anticipated to boost the market growth. Moreover, technological advancement in the latest construction machinery and growing demand from the rental segment is expected to drive the market growth.

The construction equipment sector has witnessed a steep slow down in the last decade going to adverse economic situations and sudden fall in demand owing to slow growth in the construction sector. However, the market has regained its momentum since the first quarter of 2017, especially the Chinese construction equipment sector, which witnessed greater than 100% growth in 2017 alone and is growing steadily ever since. The Government of various countries focusing on improving public-private partnership (PPP) for construction of extensive infrastructure and for attracting more foreign investment in the construction sector, this scenario has created positive signs for the construction equipment market growth.  

Several Megaprojects are under progress worldwide, for example, the Chinese “One Belt, One Road” initiative. India’s Bharatmala project, Tokyo Olympics 2020, and the bullet train project in Abu Dhabi. All such massive projects demand a number of construction equipment, Companies around the world focusing on capturing supply tenders for such projects. 

Equipment segment overview:

The market has been segmented based on the equipment type into earthmoving equipment,  water cooling equipment, and concrete and road construction equipment. the earth moving equipment such as excavator, loader witnessed substantial growth in demand in the last 3 years,  as the market weekend its Momentum from the economic slowdown. The earthmoving equipment market is expected to dominate the market over the forecast period. 

 the concrete and road construction equipment segment is expected to grow at the highest growth rate over the forecast period going to increasing road construction projects in Asia Pacific region.  the material handling equipment is driven by search in demand for mobile cranes. 

 

Construction equipment market regional Outlook 

The China construction equipment market gaining momentum and has witnessed greater than a hundred percent growth rate in the last 3 years due to the increased export of equipment to European countries. The growing Trade conflicts between us and China are resulting in the country’s applying stringent sanctions over each other, which has lead to increasing prices of raw materials such as aluminum steel iron among others. Thus, the prices of such machinery have increased slightly in 2018. 

Construction equipment market trends 2019

  • The growing automation in the construction equipment and manufacturing processes is positively impacting the construction equipment market growth.
  • The growing investment by the government in transport infrastructure development such as Road projects, Railway projects in the Asia Pacific region is anticipated to boost the market growth.
  • The growing focus over the carbon emission from construction equipment has mandated the manufacturers to focus on the development of electric and hybrid construction equipment to fulfill the emission compliance by various countries and organizations.
  • The world is witnessing a steep search in demand for rental equipment; as rental equipment is cost-effective and maintenance-free, menu rental companies also provide professional drivers along with the equipment; thus, rental equipment is a better choice for short term projects among small contractors and construction companies.
  • Rental companies are growing demand for new construction equipment as these companies are planning to upgrade their fleet size and adopt updated models of certain equipment.
  •  technological advancements such as cloud-based fleet management, that enables real-time equipment health monitoring, GPS based location, checking fuel efficiency, and improving productivity by optimizing the fleet application is driving the market growth. AI in the construction equipment industry is playing a vital role to boost market demand.

 

Market segmentation:

Global construction equipment market, by type ( USD billion, 2015 to 2025)

  •  Earthmoving equipment
  •  material handling equipment
  •  concrete concrete and road construction equipment

 Global construction equipment market, by region ( USD billion, 2015 to 2025)

  • North America
    • The U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
  •  Asia Pacific
    • China
    • Japan
    • India
    • Indonesia
  •  Latin America
    • Brazil
    • Mexico
  •  Middle East and Africa

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