PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1368780
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1368780
According to SPER Market Research, 'Vietnam Construction Equipment Market Size- By Type, By End-Users- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Vietnam Construction Equipment Market is predicted to reach with a CAGR of 6.1%.
Equipment specifically made for the purpose of performing or assisting in construction tasks is known as construction equipment. These tools are employed for a variety of tasks, including drilling, hauling, excavation, paving, grading, lifting, and other similar ones. Industries including manufacturing, oil & gas, building & infrastructure, and so on are all included in the global market for construction equipment.
Furthermore, the Vietnam construction equipment market was significantly impacted by the COVID-19 outbreak. Due to supply chain interruptions and lockdowns, the outbreak caused a temporary fall in demand as construction projects were postponed or stopped. Equipment output and availability were impacted, as well as manufacturing activities. But the market steadily recovered as things got better and the limitations were eased. The sector was revived in part by government-led stimulus programmes and infrastructural building projects.