The global construction equipment market is projected to grow at a modest CAGR of 4.0% during the forecast period (2021-2027). The key aspect that has flourished the demand for construction equipment across the globe is the gradual shift of the people towards the urban areas. Urbanization is the population shift from rural to urban areas. According to the UN, around 54% of the population lives in the urban area in 2014, which was estimated to be around 3.86 billion. It is expected to reach 66% by 2050 which will be more than 6 billion people. As per the World Urbanization Prospects by the UN, the largest urban growth will take place in India, China, and Nigeria. Urbanization in emerging economies has been growing significantly since 2014. There were only 28 mega-cities projects in 2014 which is expected to reach 41 by 2030. Hence, the global construction equipment market is likely to be driven by rapid urbanization across the emerging economies of the globe.
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Further, increasing per capita income coupled with the growing construction projects in emerging economies such as China, India, Indonesia, and others has also positively impacted the growth of the market. The rising number of infrastructural projects and mega construction projects are also projected to boost the demand for construction equipment, which, in turn, enhances market growth over the forecast period. However, the higher prices of the equipment and the negative impact of COVID-19 on the construction industry. Nevertheless, rising investments in infrastructure post-COVID-19 in order to stimulate economic growth across the globe are further expected to bolster the demand for construction equipment over the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Construction Equipment Market – Segmentation
By Machinery Type
- Earth Moving Equipment
o Cranes
o Loader & Backhoe
o Telescopic Handlers
o Excavators
o Motor Graders
o Others (Trencher)
- Material Handling Equipment
o Hoists
o Conveyors
o Forklifts
o Others (Industrial Trucks)
- Other Construction Equipment
o Concrete Mixers
o Road Rollers
o Stone Crushers
o Dumpers
o Tippers & Trailers
o Others (Slurry Seal Machines)
By Industry
- Construction & Infrastructure
- Manufacturing
- Mining
- Others (Oil & Gas)
Global Construction Equipment Market – Segmentation by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global construction equipment market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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