Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Agriculture, Construction, And Mining Machinery Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
In a dynamic global marketplace, the agriculture, construction, and mining machinery industries play a pivotal role in stimulating economic growth. Businesses seeking profitable avenues must remain informed about industry trends, forecasts, and competitive landscapes. The comprehensive market research report stands as an invaluable resource, enabling businesses to gain a competitive edge by staying ahead with critical insights and crafting effective strategies.
Amidst the ongoing impact of the global pandemic and other crises like supply chain disruptions and the infusion of innovative technologies, this report delves deep into the complexities of the agriculture, construction, and mining machinery market. By procuring this report, you access a detailed analysis of challenges and opportunities, essential for informed decision-making and robust growth within this thriving industry.
Market Growth and Trends:
- The global agriculture, construction, and mining machinery market exhibited substantial growth, increasing from $743.74 billion in 2022 to $803.73 billion in 2023, with a compound annual growth rate (CAGR) of 8.1%.
- Despite disruptions caused by the Russia-Ukraine war, which affected global economic recovery from the COVID-19 pandemic, the agriculture, construction, and mining machinery market is expected to continue expanding. It is projected to reach $1,060.64 billion by 2027, at a CAGR of 7.2%.
Key Highlights:
- Types of Machinery: The agriculture, construction, and mining machinery market encompasses various machinery types, including construction machinery, agricultural implements, and mining and oil and gas field machinery.
- Growing Usage of Telematics: Agriculture equipment companies are increasingly offering telematics systems to farmers. These systems facilitate the wireless transfer of data between equipment and users. Telematics technology allows farmers to remotely collect and manage information from their field equipment, enhancing operational efficiencies and reducing production costs.
- Regional Dominance: In 2022, the Asia-Pacific region led the agriculture, construction, and mining machinery market, followed by Western Europe.
Countries Covered:
Key countries covered in the agriculture, construction, and mining machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Impact of Economic Factors:
The agriculture, construction, and mining machinery market's growth is bolstered by stable economic forecasts in both developed and developing countries. The International Monetary Fund (IMF) predicts global GDP growth of 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices and ongoing economic growth in developed economies are expected to further drive market growth. Emerging markets are also projected to grow faster than developed markets during the forecast period.
Key Questions Answered:
- Where is the largest and fastest-growing market for agriculture, construction, and mining machinery?
- How does the market relate to the overall economy, demographics, and similar markets?
- What forces will shape the market's trajectory in the coming years?
Scope of the Report:
This report covers various aspects of the agriculture, construction, and mining machinery market. It includes the types of machinery (construction machinery, agricultural implements, and mining and oil and gas field machinery), operation types (autonomous, semi-autonomous, and manual), and capacity sizes (small, medium, and large). The subsegments covered include earthmoving, material handling, building and road construction equipment, farm machinery and equipment, sanitary paper products, stationery products, paper bags, coated and treated paper, oil and gas field machinery and equipment, and mining machinery and equipment.
The "Agriculture, Construction, and Mining Machinery Global Market Report 2023" provides valuable insights for strategists, marketers, and senior management, giving them the critical information required to assess and navigate this thriving market.
A selection of Companies Mentioned in this report includes
- Deere & Company
- Komatsu Ltd.
- Caterpillar Inc.
- EXOR Group
- Kubota Corp
- CNH Industrial NV
- Volvo AB
- AGCO Corporation
- Liebherr Group
- Zoomlion Heavy Industry Science and Technology Co. Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $803.73 billion |
| Forecasted Market Value (USD) by 2027 | $1060.64 billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/cpfvb1
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