Stratview Research has published a new report titled “Construction Equipment Market” which is segmented by Product Type (Earthmoving Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment, and Others], Material Handling Cranes [Storage Handling Equipment, Engineered Systems, Industrial Trucks, and Bulk Material Handling Equipment], and Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, and Batching Plants]) and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
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Market Insight
Construction Equipment Market is likely to witness a CAGR of 4.9% during the forecast period. This market growth is mainly attributed to the high demand for robust residential and commercial infrastructure along with growing urbanization across the world. Market revenue will be positively influenced by the high concentration of regional government authorities on investment in significant public infrastructure projects which act as a major growth driver for economic development. For an instance, the US government spent USD 353.0 billion for public construction in October 2021, which was 1.8 percent above the previous month’s spending.
Some of the key players in the construction equipment market are-
- Komatsu Ltd.
- John Deere
- Sany Group
- Hitachi Construction Machinery Co. Ltd.
- CNH Industrial
- Volvo Construction Equipment
- Caterpillar, Inc.
- XCMG Group
- Kobelco Construction Machinery Ltd.
- Terex Corporation.
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