NEWARK, Del, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The global compact construction equipment market is anticipated to expand at a sluggish CAGR of 3.8% and generate an estimated value of US$ 313.5 billion by 2032. Valued at US$ 208 billion in 2021, the target market is predominantly influenced by the product’s adaptability and capability to manage tasks that were earlier allotted to large machinery. Further, increasing demand for compact construction equipment from residential and commercial sectors will propel the market forward during the forecast period.
The low cost, small weight, ease of transportation, and operation are aspects of compact construction equipment that favorably influence the global sales of the same. Greater productivity and high reliability also aid the increasing demand for the target product.
The market for compact construction equipment is also affected by the availability of an increasing number of technological attachments like levelers, trenchers, soil conditioning tools, and others. Moreover, private users like sundowners, real estate developers, and hobby farmers also contribute to the growing demand for compact construction equipment.
Get a Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-53
The compact construction equipment market is further underpinned by new trends like the shift from pedal operation to the use of joysticks, the availability of suspension seats, and affordable air conditioners, among others. Incorporating a GPS tracking system in compact equipment is a significant attraction for rental purchasers as this protects their machinery against theft and enables location tracking when needed.
Other attributes like self-monitoring and auto shutdown also promote the sales of compact construction equipment. All of these considerations, along with others, foster an environment of growth for the compact construction equipment market during the forecast period.
Key Takeaways:
- The fuel price volatility, low entry barriers, and a lack of organization are factors that deter the growth of the compact construction equipment market during the assessment period.
- By type, the wheeled loaders segment will continue to gain traction during the forecast period as they assist with loading, unloading, and movement of bulk material at construction sites.
- North America and Western Europe will present steady growth in the compact construction equipment market over the upcoming years.
- Market players are tapping into new geographies with growth potential which, in turn, will contribute to the overall market growth.
Competitive Landscape
JCB, Mustang, John Deere, Volvo, Ditch Witch, Gehl, Vermee, Caterpillar, and New Holland among others are some of the key players in the compact construction equipment market profiled in the full version of the report.
Prominent market players are focusing on employing new tactics and a more effective business model. These organizations employ strategic agreements, mergers, business extensions, and partnerships to strengthen their market presence.
Before Buying, Visit for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-53
More Insights into Compact Construction Equipment Market
In its latest report, FMI offers an unbiased analysis of the global compact construction equipment market, providing historical data from 2014 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of type, power output, engine capacity, and region.
According to the same reports, based on segmentation, the wheeled loaders will dominate the type category and contribute substantially to the overall market growth. These loaders help with loading, unloading, and the movement of bulk material at construction sites. Power output and engine capacity are the two other segments that provide a comprehensive segmentation of the market.
Based on region, the compact construction equipment market in North America will present considerable growth during the assessment period. Western Europe, too, will exhibit notable growth between 2022 to 2032. This is because these two regions demonstrate an expansion of the residential building sector. Increasing expenditure in the residential and commercial construction sector and high demand from the residential and commercial construction sectors are expected to propel compact construction equipment forward in North America and Western Europe. Furthermore, growing business activities like mergers and facility expansion will likely stimulate growth in Southeast Asia, Oceania, and China among other regions.
In short, growing demand from the residential and commercial sectors, affordability and convenience offered by the product, and adaptability of the same will fuel the growth of the compact construction market during the forecast period.
Get Full Information on this Report @ https://www.futuremarketinsights.com/reports/global-compact-construction-equipment-market
Key Segments
By Type
- Track Loaders
- Excavators
- Backhoe Loaders
- Skid Steers
- Wheel Loaders
- Telehandlers
By Power Output
- <100 HP
- 101–200 HP
- 201–400 HP
- >400 HP
By Engine Capacity
- <5L
- 5L-10L
- >10L
By Region
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
Buy Now @ https://www.futuremarketinsights.com/checkout/53
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Crane Aftermarket Analysis: The crane aftermarket generated market revenue of US$ 7 billion in 2023. The market is assessed to expand at a healthy CAGR of 6% over the forecast period, to attain market revenue of US$ 13.29 billion by 2033.
Pneumatic Actuator Market Overview: The global pneumatic actuator market is anticipated to reach a value of US$ 16.64 billion in 2023. From 2023 to 2033, a slow but steady CAGR of 4.8% is likely to accelerate the market. This should result in a market valuation of US$ 26.51 billion in 2033.
Hydraulic Cylinder Market Trends: The global hydraulic cylinder market is expected to hold a valuation of US$ 15.3 billion in 2023. The market is projected to register a CAGR of 4.6% during the forecast period. The market is expected to cross US$ 24 billion by 2033.
Automated Material Handling Systems Market Forecast: Based on the latest research conducted by FMI, the global automated material handling systems market is expected to register a CAGR of 9.2% during the forecast period. In 2023, the market valuation is expected to be US$ 34 billion. By 2033, the value is anticipated to surpass US$ 81.8 billion.
Fire Pits Market Demand: The fire pits market is estimated to be worth US$ 7.24 billion globally in 2023 and is anticipated to register a CAGR of 6.5% from 2023 to 2033. In 2033, it is predicted that the global market would reach US$ 13.59 billion.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
