The growing public-private partnerships in different countries such as India, Africa, and China is expected to fuel the market growth.
PORTLAND, OR, UNITED STATES, September 24, 2021 /EINPresswire.com/ — Construction equipment is specially designed machinery used for performing construction operations. This equipment are used for different functions such as drilling, hauling, excavating, paving, and grading. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.
The global construction equipment market accounted for $184,500 million in 2019 and is expected to reach $261,047 million by 2027, registering a CAGR of 4.3% from 2020 to 2027.
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One of the reasons for the growth of the construction equipment market is rise in popularity of robust and compact equipment. The adoption of compact construction equipment has gained popularity in recent years, due to their easier maintenance, movability, and similar performance as heavy construction machinery. Moreover, unlike heavy machinery, compact construction equipment does not necessitate certified & skilled workers and are considerably easier to operate. Further, lower costs of the compact equipment boost their adoption in end-user industries.
Top 10 Leading Players
CNH Industrial N.V.
Deere & Company
Doosan Infracore Co. Ltd.
J C Bamford Excavators Ltd.
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
The report provides an extensive analysis of the current and emerging construction equipment market trends and dynamics. The report also provides construction equipment market size from 2019 to 2027.
An in-depth construction equipment market analysis is conducted by constructing estimations for the key segments between 2019 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the construction equipment market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
Construction equipment market forecast analysis from 2019 to 2026 is included in the report.
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Key Market Segments
By Solution Type
By Equipment Type
Heavy construction equipment
Compact construction equipment
Excavation & mining
Lifting & material handling
Oil & gas
Construction & infrastructure
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Source: EIN Presswire