The Construction Equipment Market Share was valued at USD 170.77 billion in 2022 and is projected to reach USD 270.14 billion by 2030, with a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2023 to 2030.
The construction equipment industry has witnessed substantial growth in recent years, and this trend is expected to continue in the coming decade. With the increasing demand for infrastructure development and urbanization across the globe, the need for advanced construction equipment has become paramount.
The market's value, estimated at USD 170.77 billion in 2022, reflects the significant investments made in construction projects worldwide. As countries strive to enhance their infrastructure and meet the growing population's needs, the demand for construction equipment is set to soar.
By 2030, the market is projected to reach a staggering USD 270.14 billion, indicating a substantial growth potential. This growth can be attributed to several factors, including the rising number of construction projects, technological advancements in equipment, and the adoption of efficient and sustainable construction practices.
Furthermore, the compound annual growth rate (CAGR) of 5.9% over the forecast period highlights the steady and consistent expansion of the construction equipment market. This growth rate signifies the industry's resilience and its ability to adapt to changing market dynamics.
In conclusion, the construction equipment market is poised for remarkable growth in the coming years. As the demand for infrastructure development continues to surge, the market's value is expected to reach USD 270.14 billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This presents lucrative opportunities for industry players to capitalize on the increasing need for advanced and efficient construction equipment.
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KEY MARKET SEGMENTATION
By Solution Type
- Product
- Services
By Equipment Type
- Heavy construction equipment
- Compact construction equipment
By Type
- Loader
- Cranes
- Forklift
- Excavator
- Dozers
- Others
By Application
- Excavation and mining
- Lifting and material handling
- Earth moving
- Transportation
- Others
By Industries
- Oil and gas
- Construction and infrastructure
- Manufacturing
- Mining
- Others
Key Players
The major key players are Hitachi Ltd., AB Volvo, Catterpillar Inc., CNH Industrial N.V, Deere And Company, Hyundai Doosan Infracoe Co.Ltd, J C Bamford Excavators. Ltd., Komatsu Ltd, Liebherr-International Ag, Xcmg Group & ther Players
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Construction Equipment Market Segmentation, By Solution Type
- Construction Equipment Market Segmentation, By Equipment Type
- Construction Equipment Market Segmentation, By Type
- Construction Equipment Market Segmentation, by Application
- Construction Equipment Market Segmentation, by Industries
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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