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Construction Equipment Market Size, Share and Industry Analysis By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, and others), By Application (Residential, Commercial, Industrial), and Regional Forecast, 2019-2026

Region : Global | Published Date: Oct, 2019 | Report ID: FBI100521| Status : Published

 

KEY INDUSTRY INSIGHTS

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 The global construction equipment market size which was valued at US$ 128.46 Bn in 2018 and is projected to reach US$ 186.42 Bn by 2026, exhibiting a CAGR of 4.8% during the forecast period (2019 – 2026)


The global market growth is observed, with the rise in public-private partnerships, increasing industrial, residential, and commercial construction activities, rising government investments in infrastructure development. The major players catering to market are investing in research & development activities for up-gradation in construction equipment, in order to provide efficient mining equipment, agricultural equipment, forestry equipment, material handling (e.g., ports, warehouses), waste management equipment, and municipal equipment (e.g., tool carriers, street sweeping).


A significant construction equipment market trend observed is the ongoing shift from traditional construction equipment to automated construction equipment. Therefore, the consumer is retrofitting and renovating old technology. In order to increase productivity across the construction industry, the prominent and strong players are effectively trying to tighten up the construction equipment supply chain and achieve efficiencies.


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Market Segmentation


"Adoption of advanced construction equipment is driving the market"


Consumers across the globe are demanding more fuel-efficient, technologically upgraded equipment for improvising the constructing activities. Adoption of upgraded equipment reduces labor costs, tracking of work done in every stage of the process, reduction in operational costs. Also, it is being projected there will be a heavy growth of the construction equipment market revenue during the forecast 2018 – 2026.


REGIONAL ANALYSIS


"Increasing investment by the government is supplementing the revenue growth of the Asia Pacific, whereas Europe is estimated to have a significant growth"


Asia Pacific was valued at US$ 49.68 Bn in 2018 and is anticipated to emerge dominant in the global construction equipment market share during the forecast period. Growth witnessed in the region is likely to be driven by the emergence of online retail facilities, availability of machinery on a rental basis, rising government investments in infrastructure development, reduction in capital investments. Similarly, Chinese government is investing in public infrastructure and renewable energy, and also in residential construction projects, which in return is resulting in the increased market demand. In 2017, Chinese government aimed to deliver the One Belt One Road project and the 21st century Maritime Silk Road that would cost around US$ 4 Tn in order to improve the land and waterway connectivity.


Asia Pacific Construction Equipment Market, 2018

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Europe generated a revenue of US$ 36.27 Bn in 2018 and is expected to witness growth owing to increasing demand for new housing units, improving employment level, etc. Also, as Germany is called the home to Europe’s best-performing machine and equipment sector, Europe is expected to have significant opportunity to grow over the forecast period.


REPORT COVERAGE


"The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on market growth."


The report provides qualitative and quantitative insights on the global market and detailed analysis of market size & growth rate for all possible segments in the market. The market has been segmented by equipment type, application, and geography. By equipment type, the global construction equipment market is categorized into earthmoving equipment, material handling equipment & cranes, concrete equipment, road building equipment, civil engineering equipment, crushing and screening equipment, other equipment. Based on the application, the global market is segmented into residential, commercial, industrial. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.


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Along with this, the report provides elaborative analysis of the global market dynamics and competitive landscape. Various key insights provided in the report are the price trend analysis, recent industry developments in the global construction equipment market, such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and key industry trends.


SEGMENTATION






















SEGMENTATION



 DETAILS



By Equipment Type




  • Earthmoving Equipment

  • Material Handling Equipment & Cranes

  • Concrete Equipment

  • Road Building Equipment

  • Civil Engineering Equipment

  • Crushing and Screening Equipment

  • Other Equipment



By Application




  • Residential

  • Commercial

  • Industrial



By Region




  • North America (The U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico and Rest of Latin America)



SOME OF THE KEY COMPANIES PROFILED IN THE REPORT



  • AB Volvo

  • Caterpillar Inc.

  • Komatsu Ltd

  • Doosan Infracore Co. Ltd

  • Hitachi Construction Machinery Co. Ltd

  • C. Bamford Excavators Limited

  • Liebherr Group

  • CNH Industrial N.V

  • Hyundai Heavy Industries Co. Ltd

  • Terex Corporation


 INDUSTRY DEVELOPMENT:



  • June 2018: Deere & Company introduced two new forwarders 910G and 1010G to offer a solution for every logging operation and deliver power and productivity.

  • December 2017: NVidia partnered with Komatsu in order to deploy AI at worksites across these industries in order to promote safety and increase efficiency. Also, Komatsu is aiming to use Nvidia’s hardware to provide virtual ‘brains’ to heavy machinery at work sites, with AI-powered by Nvidia’s Jetson platform


Frequently Asked Questions

Fortune Business Insights says that the value of the global Construction Equipment Market was  USD 128.46 Billion in 2018

The Construction Equipment Market is projected to reach  USD 186.42 Billion by 2026

The Construction Equipment Market will grow at the rate of 4.8% CAGR

Construction Equipment Market Size, Share and Global Industry Trend Forecast till 2026
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