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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