EIN PRESSWIRE

Construction Equipment Market Anticipated to Reach $261,047 mln in 2027, Growing at a CAGR of 4.3%

Construction Equipment Market Anticipated to Reach $261,047 mln in 2027, Growing at a CAGR of 4.3% 1

Construction Equipment Market Outlook, Analysis & Industry Forecast- 2027 | Key Drivers, Restraints & Opportunities

PORTLAND, OR, UNITED STATES, August 10, 2021 /EINPresswire.com/ — Construction equipment are specially designed machinery used to perform construction operations. These equipment are used for different functions such as drilling, hauling, excavating, paving, and grading. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.

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“Construction Equipment Market by Solution Type, Equipment Type, Type, Application, and Industry: Global Opportunity Analysis and Industry Forecast, 2020–2027,” The global construction equipment market accounted for $184,500 million in 2019 and is expected to reach $261,047 million by 2027, registering a CAGR of 4.3% from 2020 to 2027.

One of the reasons for the growth of the construction equipment market is the rise in popularity of robust and compact equipment. The adoption of compact construction equipment has gained popularity in recent years, due to their easier maintenance, movability, and similar performance as heavy construction machinery.

Top 10 Leading Players

AB Volvo
Caterpillar Inc.
CNH Industrial N.V.
Deere & Company
Doosan Infracore Co. Ltd.
Hitachi Ltd.
J C Bamford Excavators Ltd.
Komatsu Ltd.
Liebherr-International AG
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)

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Key Market Segments:

By Solution Type

Products
Services

By Equipment Type

Heavy construction equipment
Compact construction equipment

By Type

Loader
Cranes
Forklift
Excavator
Dozers
Others

By Application

Excavation & mining
Lifting & material handling
Earth moving
Transportation
Others

By Industry

Oil & gas
Construction & infrastructure
Manufacturing
Mining
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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Allied Analytics LLP
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Construction Equipment Market Anticipated to Reach $261,047 mln in 2027, Growing at a CAGR of 4.3% 2