Dublin, June 02, 2022 (GLOBE NEWSWIRE) -- The "U.S. Heavy Duty Construction Equipment Market by Type, Application, and Sales Channel - Size, Share, Outlook, and Opportunity Analysis, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. heavy construction equipment market was valued at US$ 68.73 Bn in 2018 and is expected to exhibit a CAGR of 4.29 % over the forecast period to reach US$ 93.68 Bn by 2027.
The market is segmented into by type, by application, by sales channel, and by end-use industry. The U.S. heavy construction equipment market growth is majorly driven by increasing government investment in the construction industry.
Moreover, owing to COVID-19, the construction industry is affected majorly, therefore demand for heavy equipment is expected to drop in 2020, but the market is expected to show steady growth for the next 3 years.
The rental segment in the heavy construction equipment market is expected to grow as companies will rent the equipment than buying new equipment, which will help the market to remain steady
Market Dynamics
Disposable income is rapidly increasing in the U.S., which is fuelling growth of housing market in the U.S. According to the U.S. Bureau of Economic Analysis, a U.S.-based government agency, disposable income of the people in the U.S. reached US$ 15,174 billion in January 2020, from US$ 11,608 billion in January 2010 with CAGR of 2.71% during 2010-20.
According to The United States Census Bureau, in some regions such as Silicon Valley, where big tech companies are located such as Google Inc., Facebook Inc., and others, in 2018, average household income was US$ 125,987, which is almost twice the average U.S. household income which is US$ 61,937.
Furthermore, the U.S. residential construction market is also rapidly growing. According to Worldwide Market Reports' analysis, the U.S. residential construction market is expected to reach US$ 207.21 billion by 2023. Thus, increasing disposable income coupled with growing residential construction market will drive the U.S. heavy construction equipment market growth over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the U.S. Heavy Duty Construction Equipment market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
- It profiles leading players in the U.S. Heavy Duty Construction Equipment market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
- Companies covered as a part of this study include Atlas Copco, Caterpillar, Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore, Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Americas, Inc., J C Bamford Excavators Ltd. (JCB), Komatsu America Corp., Liebherr Group, Sany Heavy Industries Co. Ltd, Terex Corporation, Ahern Rentals, Herc Rentals Inc., and United Rentals, Inc.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
- The U.S. Heavy Duty Construction Equipment market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the U.S. Heavy Duty Construction Equipment market
Company Profiles
- Atlas Copco
- Caterpillar, Inc.
- CNH Industrial N.V.
- Deere & Company
- Doosan Infracore
- Hitachi Construction Machinery Co. Ltd.
- Hyundai Construction Equipment Americas, Inc.
- J C Bamford Excavators Ltd. (JCB)
- Komatsu America Corp.
- Liebherr Group
- Sany Heavy Industries Co. Ltd
- Terex Corporation
- Ahern Rentals
- Herc Rentals Inc.
- United Rentals, Inc
Detailed Segmentation
U.S. Heavy Duty Construction Equipment Market, By Type:
- Earthmoving & Heavy Vehicles
- Excavators
- Dumpers
- Trenchers
- Tunneling Equipment
- Loaders (Skid Steer & Track)
- Backhoes
- Articulated Haulers
- Dozer
- Roller
- Tractor
- Others
- Concrete Equipment's
- Mixers
- Paver
- Concrete Pump
- Others
- Compaction Equipment
- Rammers
- Rollers
- Compactors
- Material Handling
- Cranes and Lifts
- Forklifts
- Telehandler
- Others
- Others (Drill, Hammers, Breakers, Generators, Sand Washers, Etc.)
U.S. Heavy Duty Construction Equipment Market, By Application:
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste Management
- Tunneling
U.S. Heavy Duty Construction Equipment Market, By Sales Channel:
- Rental
- OEMs.
For more information about this report visit https://www.researchandmarkets.com/r/gumlxg
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