Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Construction Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Construction Equipment Market to Reach $162.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Construction Equipment estimated at US$129.6 Billion in the year 2020, is projected to reach a revised size of US$162.4 Billion by 2027, growing at a CAGR of 3.3% over the analysis period 2020-2027.
Earthmoving Equipment, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$78.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Material Handling Equipment & Cranes segment is readjusted to a revised 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $35 Billion, While China is Forecast to Grow at 6% CAGR
The Construction Equipment market in the U.S. is estimated at US$35 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$33.5 Billion by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Concrete Equipment Segment to Record 4% CAGR
In the global Concrete Equipment segment, USA, Canada, Japan, China and Europe will drive the 3.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.7 Billion in the year 2020 will reach a projected size of US$14.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$22.6 Billion by the year 2027, while Latin America will expand at a 5% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Construction Equipment - A Key Industry
- Recent Market Activity
- Recent Past, Current and Future Analysis
- Mixed Demand Drives Focus Grows on Innovations
- Equipment with Remote Monitoring Capabilities
- Manufacturers Gear up on Additional Safety and Efficiency Features
- Data Analytics Gain Importance to Improve Productivity and Efficiency
- Entering an Era of Autonomous Machines
- Focus on Exhaust Emission Control Encourages Development of Electric-Powered Machinery
- Fuel Savings Bring the Spotlight on Hybrid Construction Machinery
- Backhoe Evolution
- Controlled Demolition Gain Ground
- Equipment Buyers Opt for Comprehensive Package Offers
- Manufacturers Focus on Niche Products
- Continued Shift in Manufacturing Base
- Construction Equipment Rental and Leasing Market on the Rise
- Focus Grows on Customer Services
2. FOCUS ON SELECT PLAYERS(Total 109 Featured):
- Caterpillar Inc.
- Deere & Co.
- Dingsheng Tiangong Construction Machinery Co. Ltd.
- Doosan Infracore Co. Ltd.
- Hitachi Construction Machinery Co. Ltd.
- J C Bamford Excavators Ltd.
- JLG Industries Inc.
- Kobelco Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Kubota Corporation
- Liebherr Group
- Lonking Holdings Limited
- Manitou Group
- Sandvik AB
- SANY Group Co. Ltd.
- Shantui Construction Machinery Co. Ltd.
- Sumitomo Heavy Industries Ltd.
- Terex Corporation
- Xuzhou Construction Machinery Group Co. Ltd.
- Xuzhou Heavy Machinery Co. Ltd.
- Zoomlion Heavy Industry Science & Technology Development Co. Ltd.
3. MARKET TRENDS & DRIVERS
- Improving Economy Buoys General Market Optimism
- Urbanization - A Mega Growth Driver
- Expanding Middle Class Population: Positive Opportunities for Construction Industry
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 109
For more information about this report visit https://www.researchandmarkets.com/r/xkqki7
