The North America heavy-duty construction equipment market is anticipated to grow significantly at a CAGR of 7.0% over the forecast period (2021-2027). The US and Canada are the key economies that contribute to the growth of the North America heavy-duty construction equipment industry. The key aspect that drives the growth of the North America heavy-duty construction equipment market is the ongoing infrastructural developmental and re-developmental activities across the region. Various mega projects such as LaGuardia Airport Construction Project New York, O’Hare Airport Construction Project Illinois, Second Avenue Subway Construction Project New York, Sound Transit 3 (ST3) Construction Project Washington, and California High-Speed Rail Construction Project California among others.
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Besides, there are also various infrastructure redevelopment and renewal projects, that demand for heavy-duty construction equipment. Some of the redevelopment projects include Newark Airport Terminal One New Jersey, JFK Airport New York, San Francisco International Airport Redevelopment California, among many others. Furthermore, the government’s investments in infrastructural development in the region also support market growth. For instance, the Canadian government allocated approximately $81.2 billion for the development of commercial and public infrastructure under its ‘Invest in Canada’ initiative. Hence, the rapid expansion of the construction industry is likely to contribute to market growth in the region.
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Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- By Machinery Type, Applications, and Industry
· Region Covered- North America
· Competitive Landscape- Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., and Kobelco Construction Machinery Co. Ltd. among others
North America Heavy-Duty Construction Equipment Market – Segmentation
By Machinery Type
Earth Moving Equipment
· Cranes
· Loader & Backhoe
· Telescopic Handlers
· Excavators
· Others (Graders, Trencher)
Material Handling Equipment
· Hoists
· Conveyors
· Forklifts
· Others (Industrial Trucks)
Other Heavy-Duty Construction Equipment
· Concrete Mixers
· Road Rollers
· Stone Crushers
· Dumpers
· Tippers & Trailers
· Others (Slurry Seal Machines)
By Applications
· Excavation & Demolition
· Heavy Lifting
· Handling
· Transportation
· Recycling & Waste Management
· Others (Tunneling)
By Industry
· Construction & Infrastructure
· Manufacturing
· Mining
· Others (Oil & Gas)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
