Global Construction Machinery Market is valued at approximately USD 127.30 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.30 % over the forecast period 2020-2027. Construction machinery is also defined as heavy-duty vehicles, specifically designed for the completion of construction tasks, such as the construction of houses, roads or other structures and the mining of mines. activities like surface mining and underground mining. The market is expected to grow with significant pace over the forecast years due to the rise in construction projects across the globe. according to global construction 2030 report, it is estimated that by 2030, the construction output is expected to grow by 85% and USD 15.5 trillion globally, where china is leading the growth followed by US and India. The average growth of the industry is estimated to be 3.9% by 2030. The US construction industry is expected to grow at faster rate by 5% p.a. as compared to China. Since, construction machinery allows safety, and efficiency to complete construction projects in a timely manner. Additionally, the market is driven by growing public & private partnerships across the globe. However, lack of harmonized emission regulations globally. Whereas, renting as well as leasing of construction equipment is creating a lucrative opportunity for the market growth.
The regional analysis of the global Construction Machinery Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading as well as fastest growing region in the global construction machinery market due to the rapid growth in infrastructure development in the region along with presence of favorable government norms supporting construction sector.
Major market player included in this report are:
JCB India Limited
CNG Industrial NV
Hitachi Construction Machinery Co. Ltd.
Deere & Company
Kobelco construction Machinery Co. Ltd.
Mitsubishi Heavy Industrial Ltd.
Doosan infracore Co. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Machinery Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Machinery Type:
Loaders & Backbone
By Drive Type:
Electric and Hybrid
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global Interventional cardiology devices market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers