Global Construction Equipment Market to 2027 – Size, Trends and Growth Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Construction Equipment Market” report has been added to from ResearchAndMarkets.com offer.

According to Verified Market Research, Global Construction Equipment Market was valued at USD 208.3 Billion in 2020 and is projected to reach USD 250.4 Billion by 2027 at a CAGR of 3.8% from 2020 to 2027.

Construction equipment is specially designed machinery that is used to perform construction tasks. These machines are used for a variety of tasks such as drilling, transporting, excavating, paving and grading. The global construction equipment market covers several sectors including construction and infrastructure, manufacturing, and oil and gas.

Market factors

Increased infrastructure investment following the COVID-19 pandemic

Construction is one of the industries hardest hit by the COVID-19 pandemic. Global construction equipment sales declined. Investments in infrastructure, residential, commercial and industrial construction, mine and shaft construction, and institutional spending are all factors that influence construction equipment manufacturers.

Market constraints

Projects involving construction equipment have a lower transaction value.

The COVID-19 pandemic has had a significant impact on the construction and infrastructure sectors, posing a wide range of challenges that are expected to hamper ongoing projects and reduce new infrastructure investment globally. The uncertainty of the recovery from the pandemic hampered investor confidence, thus affecting sales of construction equipment.

Key players

Various key players are listed in this report such as AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Company, Doosan Infracore Co. Ltd., Hitachi Ltd., JC Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International AG, and Xuzhou Construction Machinery Group Co., Ltd. (XCMG).

Market segmentation

By type of equipment

• cranes

• Telehandler

• Excavator

• Loader and backhoe

• motor grader

• Other

By reader type

• Hydraulic

• Electric and Hybrid

By region

• North America

• Latin America

• Europe

• China

• Asia Pacific

• Middle East and Africa

Key questions addressed by the report

• What are the key opportunities in the global construction equipment market?

• What will be the growth rate from 2020 to 2027?

• Which segment/region will experience the highest growth?

• What are the factors that will impact/driving the market?

• What is the competitive landscape in the industry?

• What is the role of key players in the value chain?

For more information on this report, visit https://www.researchandmarkets.com/r/d47y7z