Construction Equipment Market

Construction Equipment Market worth $223.1 billion by 2027

According to a research report "Construction Equipment Market by Type (Excavator-Crawler & Mini; Loader-Backhoe, Skid-steer, & Wheel; Dozer, Dump Truck, Compactor, Crane), Electric Equipment, Propulsion, Power Output, Rental, Aftertreatment Device and Region - Global Forecast to 2027" published by MarketsandMarkets, the construction equipment market size is estimated to grow from USD 180.4 billion in 2022 to reach USD 223.1 billion by 2027, at a CAGR of 4.3% over the forecast period.

Browse 470 market data Tables and 72 Figures spread through 486 Pages and in-depth TOC on "Construction Equipment Market by Type (Excavator-Crawler & Mini; Loader-Backhoe, Skid-steer, & Wheel; Dozer, Dump Truck, Compactor, Crane), Electric Equipment, Propulsion, Power Output, Rental, Aftertreatment Device and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/construction-mining-equipment-market-179948937.html

The market is expected to witness growth due to an increase in urban infrastructure projects and the adoption of advanced technologies in the construction industry.

CNG/LNG/RNG construction equipment would be the fastest growing segment over the forecast period

The upcoming emission regulations have much-lowered emission limits, requiring advanced engine technologies and after-treatment devices. It would eventually increase equipment costs between 15-25%, resulting in increased capital investment for fleet owners and lowered ROIs. Additionally, the battery technology needs more time to address the issues related to charging time, range, and cost. Hence, alternate fuel equipment is the option for OEMs in the near future. The CNG/LNG/RNG are the best options for construction equipment in the coming years. Compressed Natural Gas emits 25% less sulphur, nitrogen, and carbon pollutants than gasoline engines. RNG emits 70% lesser Greenhouse Gases than diesel or gasoline, making it the most environment-friendly fuel. Liquefied natural gas (LNG) is mostly methane that has been cooled down to convert it into liquid form. Many major construction equipment manufacturers are focusing on developing the alternate fuel models. For instance, in May 2022, at EXCON Expo in India, Tata Hitachi launched the ZW225 wheeled loader with which is compliant to CNG. Also, in November 2020, JCB launched dual fuel CNG backhoe loader named JCB 3DX DFi in India. This new machine operated on CNG and Diesel simultaneously using the Homogeneous Charge Compression Ignition Technology (HCCI). Apart from this, the alternate fuels cost low compared to diesel and gasoline. Looking at all these benefits offered by alternate fuels and achieving decreased emission limits, the demand for alternate fuel construction equipment would increase over the next few years.

Crawler excavators would be the largest construction equipment type over the forecast period.

The crawler excavators are estimated to showcase a market share of >25% in 2022 and are projected to grow by 2027. Rapid urbanization is the key factor contributing to the growth of the crawler excavator market. The crawler excavator due to its chain belt setup offer stability in operation specially in rough terrain and muddy areas. The stronger gradeability of crawler excavators make is capable for usage in residential constructions as well as the underground mining projects. The crawler excavator act as an all-round construction equipment that can be used to dig sites, demolish structures and surfaces, carry out trenching and also lifting heavy objects. The excavators are available in wide range of engine capacities like below 5 tons, 5-10 tons and above 10 tons of capacity. Asia is expected to be the largest market for crawler excavators, owing to the increase in infrastructural developments and the rapidly growing real estate business in the region. Thus, heavy investment in infrastructure development in the construction and mining industry would drive the demand for crawler excavators during the forecast period.

The Middle East would be the fastest-growing construction equipment market from 2022 to 2027.

The Middle East is estimated to be the fastest growing market for construction equipment from 2022 to 2027 due to the increased construction activities for infrastructure development. Saudi Arabia, UAE, and Qatar largely contribute to the sale of construction equipment in the Middle East. The Middle East has witnessed a boost in construction equipment sales in 2020-2021. The large infrastructure development projects like artificial beaches, luxurious hotel chains, road construction, and other such activities undertaken by the government as well as private organizations are the factors that would increase the demand for construction equipment in the Middle East by 2027. With such increased construction activities, the crawler excavators and wheeled loaders are estimated to be the largest selling equipment in the Middle East market by 2027.

The construction equipment market is dominated by giants such as Caterpillar (U.S.), Komatsu Ltd. (Japan), Deere & Company (U.S.), Hitachi Construction Machinery Co., Ltd. (Japan), Xuzhou Construction Machinery Group (China), SANY Group (China), A.B. Volvo (Sweden), Liebherr (Germany), CNH Industrial N.V (U.K.), Doosan Enerbility (South Korea), JCB (U.K.), Terex Corporation (U.S.), Zoomlion Heavy Industries Science & Technology Co., Ltd. (China), Kobelco Construction Machinery Co., Ltd. (Japan), KUBOTA Corporation (Japan), Yanmar Holdings Co., Ltd. (Japan), Sumitomo Heavy Industries (Japan), Sumitomo Heavy Industries Construction Cranes Co., Ltd. (Japan), and Sumitomo Construction Machinery Co., Ltd. (Japan).

Don’t miss out on business opportunities in Construction Equipment Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Construction Equipment Market Size,  Share & Growth Report
Report Code
AT 2838
PR Published ON
9/7/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Construction Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home