Market Research Report
Construction Equipment Market Size By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment ), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027
|Construction Equipment Market Size By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment ), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027|
Published: May 22, 2021
Global Market Insights Inc.
Content info: 250 Pages
Delivery time: 2-3 business days
The construction equipment market is estimated to record momentous gains by 2027 owing to the proliferating public infrastructure development and road building activities, rising investments in the development of smart cities and technological advancements.
Construction equipment covers all heavy-duty vehicles, which are specifically designed for conducting various construction-related tasks, most commonly those involving earth-moving operations. Heavy construction equipment are mainly utilized for a plethora of different purposes in large projects.
Today, with remarkable changes and technological advancements, the construction equipment and tools have enabled construction workers to remove the use of a lot of conventional instruments in construction. In fact, command over equipment and tools has immensely increased the overall productivity of an individual.
Construction equipment are also known as heavy hydraulics, heavy vehicles, engineering equipment, construction equipment, heavy trucks, and heavy machines. Use of different kinds of heavy equipment largely depends on the size of the work as well as the project economy. These equipment can however be used for both small and large-scale tasks.
Today, numerous types of technologically advanced construction equipment are being utilized for road construction, underwater and other kinds of marine construction work power projects as well as building & structural construction work.
The construction equipment market is segmented in terms of product and regional landscape.
Talking of product, the overall construction equipment market is classified into concrete equipment, material handling & cranes and earth moving & roadbuilding. The earth moving & roadbuilding segment is further bifurcated into compaction equipment, backhoes, loaders, excavators and others.
The excavators segment is expected to register momentous growth in the coming years. A prominent portion of the projected growth is likely to come from the North America region. The North America excavators market segment will reach a valuation of more than $4 billion by the end of 2027. This growth is majorly accredited to the proliferation of public infrastructure development and road building activities.
An excavator is a construction vehicle that is specifically used to excavate or move large things. An excavator is predominantly made up of two parts. This type of construction equipment is utilized in large- and small-scale constructions. They are also utilized in larger sites to remove construction waste, excavate or move construction material. Excavators have also been used in marine structurers to place large rocks or armors, used in road construction, and for small housing projects to do a cut and fill.
On the regional front, construction equipment market in MEA is poised to grow at a CAGR of 3% over the assessment time period. Rising investments in the development of smart cities and robust transportation network will accelerate the regional market growth.