Global Construction Equipment Market to Reach US$ 250.2 Bn by 2031; The Earth Moving Equipment Type Segment Held the Largest Share in 2022
Wilmington, Delaware, United States, June 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global C onstruction E quipment M arket was valued at US$ 147.3 Bn in 2022 and is projected to expand at a CAGR of 6.9% from 2023 to 2031.
Increase in number of construction undertakings in the residential, commercial, and industrial sectors is fueling the construction equipment market. Furthermore, mega budgets of governments for infrastructural development are anticipated to boost the construction equipment market size in the next few years.
The advent of automated construction equipment is likely to boost market development in the near future. Vendors are rolling out schemes, such as loans and easy installments to drive sales of automated construction equipment, which, in turn, is likely to increase their market share. They are also engaged in offering sustainable solutions to strengthen their foothold in the market.
Construction equipment refers to a large spectrum of tools and machinery used in construction undertakings. It comprises heavy engineering equipment, concrete equipment, construction vehicles, material handling equipment, and road construction equipment.
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Key Findings of Study
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Growth Drivers
Regional Landscape
Competitive Analysis
The business landscape is fragmented with the presence of a large number of global and regional players. Key players in the construction equipment market include
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The construction equipment market is segmented as follows:
Global Construction Equipment Market, by Type
Global Construction Equipment Market, by Net Power
Global Construction Equipment Market, by End-use
Global Construction Equipment Market, by Distribution Channel
Global Construction Equipment Market, by Region
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Transparency Market Research Inc. – C onstruction E quipment M arket CAGR of 6.9% To Remain A head of Your Competitors, Request a Sample: Key Findings of Study Mega Budget of Governments for Infrastructure Development Driving Demand – Rapid Urbanization Presents Immense Growth Opportunities - Development of Mining Sector Fuels Demand – High Demand for Earth Moving Equipment – Share Your Precise Requirements for Customized Sample: Growth Drivers Regional Landscape Competitive Analysis Browse the Full Report with Facts and Figures of the C onstruction E quipment M arket : The construction equipment market is segmented as follows: Global Construction Equipment Market, by Type Global Construction Equipment Market, by Net Power Global Construction Equipment Market, by End-use Global Construction Equipment Market, by Distribution Channel Global Construction Equipment Market, by Region About Transparency Market Research Contact : Nikhil Sawlani Website Blog Email: