Construction Equipment Market 2021-22 | Demand, Supply, Growth Factors, Latest Rising Trend & Forecast to 2027

Construction Equipment Market 2021-22 | Demand, Supply, Growth Factors, Latest Rising Trend & Forecast to 2027

Construction Equipment Market Growing Due to Labor Shortage Problems

Construction equipment such as skid steer loaders, bulldozers, trenchers, excavators, scrapers, and others have become crucial in modern day construction industry as they used for a myriad of applications which alone cannot be achieved by humans. Market Research Future (MRFR's) latest report on the global construction equipment market covers all the essential accruals based on key macro and microeconomic factors that are likely to affect the growth of the market over the forecast period of 2020-2027. MRFR has asserted that the construction equipment market is slated to cross the USD 200 Bn mark at a CAGR of 8% by the end of 2027.

The expanding construction industry provides numerous growth opportunities for the construction equipment market. With the rise in industrialization and urbanization across the globe, especially in the developing nations, the construction market is poised for unprecedented growth.

As the labor shortage problem is deepening, the demand for construction equipment is witnessing an all-time high due to substitute the dearth of labors. Towering labor costs and a growing emphasis on the safety of workers has also prompted the construction industry to use equipment for automating various hazardous processes. Moreover, advancement in construction equipment technology has facilitated the industry to reduce its reliance on humans with the development of driverless machines. Such equipment can be used in remote areas where labor availability is scarce. Increase in functionality and safety aspects of construction equipment has further boosted the market growth.

On the other hand, the construction market growth can be restricted by high costs of these machinery. however, market participants are rolling out rental services, which are likely to uplift the growth of the market.

 

Browse Complete Report - https://www.marketresearchfuture.com/reports/construction-equipment-market-1963

 

Segmentation

The global construction equipment market has been segmented based on equipment, end use, and application.

By equipment, the construction equipment market has been segmented into Earth moving, Material handling, Concrete, and others.

By end use, the construction equipment market has been segmented into Lifting & material handling, Earth moving, Excavation, Transportation, and others.

By application, the construction equipment market has been segmented into Oil & Gas, Infrastructure, Construction, Agriculture, Mining, and others.

Regional Analysis

Region-wise, the construction equipment market has been segmented into North America, Rest-of-the-World (RoW), Asia Pacific (APAC), and Europe.

APAC is the largest construction equipment market. The emerging economies in the region are witnessing a steep rise in disposable income. This has increased the spending on real estate. Moreover, growing urbanization in the region has driven construction projects in both the residential, industrial, and commercial sector, which has induced high demand for construction equipment. Rapid industrialization has also reflected positively on the growth of the market.

North America and Europe markets are driven by increasing development of smart cities and resurging construction industry due to accelerated renovation activities in the region.

The Middle East region is also amidst rapid industrialization and urbanization, which induces demand within the RoW construction equipment market.

Competitive Landscape

Komatsu Ltd. (Japan), J.C. Bamford Excavators Limited (U.K.), Caterpillar Inc. (U.S.), AB Volvo (Sweden), Hyundai Heavy Industries Co., Ltd. (South Korea), Hitachi Construction Machinery Co. Ltd. (Japan), Atlas Copco AB (Sweden), Doosan Heavy Industries & Construction Co. Ltd. (South Korea), Kobe Steel Ltd. (Japan), and Liebherr Group (Switzerland) are the notable players in the global construction equipment market.

Industry Updates

June 2019 - An electric power train project jointly developed by AVID Technology, an electric vehicle component manufacturer, and Caterpillar, a construction machinery giant, has secured a funding of £33m from the UK government. The project aims to develop a fully electrified construction machine that emits zero tailpipe emissions and would fulfill demanding environmental conditions and duty cycles required by the off-highway machinery market.

Get a FREE Report Sample -  https://www.marketresearchfuture.com/sample_request/1963

Key Questions Addressed by the Report

  • What was the historic market size?
  • Which segmentation (Product/ Capacity) is driving market?
  • What will be the growth rate?
  • How are the key players in this market?
  • What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com