Construction Equipment Market Investigated in the Latest Research

The global Construction Equipment Market is projected to grow at a CAGR of 4.52%, during the forecast period, from an estimated USD 146.17 billion in 2018 to USD 199.18 billion by 2025. Some of the prominent factors bolstering the demand of construction equipment are increased demand of smart city projects coupled with increased investment in infrastructure.

Tier-5 emission regulation is expected to drive the construction equipment market

Tier-5 compliant engines are projected to have the largest market share of construction equipment by emission regulation in 2025. The countries in North America such as Canada, the US, and Mexico are speculated to have enforced these regulations by 2025. Additionally, it is speculated that Japan will also follow these regulations once they are in effect. With the increasing focus on reducing emission from fossil fuels, regional emission regulation will have a significant impact on the construction equipment market.

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SCR is expected to be the fastest-growing segment of the construction equipment after treatment devices market

The Selective Catalytic Reduction (SCR) after treatment device segment is projected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the stringent emission regulation standards that are speculated to be in Asia Pacific, Europe, and North America during the forecast period.

Asia Pacific to be the largest market and the Middle East to remain the fastest-growing market for construction equipment

Asia Pacific is estimated to dominate the construction equipment market and is projected to be the largest market during the forecast period. This growth can be attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The sizable population in countries such as China and India has resulted in an increased number of government projects such as airports, sewer systems, and renewable energy projects. The Middle East region is estimated to dominate the construction equipment market and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing infrastructure spending in this region. Saudi Arabia plans to reduce its dependence on the crude oil sector for revenue in its Vision 2030. This is projected to boost infrastructure spending in the country.

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Key Market Players

The major players in the construction equipment market are identified as Volvo Construction Equipment (Sweden), CNH Industrial (the Netherlands), Komatsu (Japan), Caterpillar (US), John Deere (US), Hitachi Construction Equipment (Japan) and Liebherr (Switzerland). The aforementioned companies are estimated to hold lion's share in the global construction equipment market.

Recent Developments

In March 2018, Volvo Construction has decided to use 3D printing to provide spare parts to consumers quickly and efficiently. This is expected to help the company support its consumers throughout the life cycle of its equipment.

In January 2018, Komatsu signed an agreement to acquire Quadco and Southstar Forestry Attachment Operations from Prenbec Equipment, a company based in Quebec, Canada. This will allow Komatsu to offer its customers a full range of forestry attachments. Quadco and Southstar will continue to operate as independent companies within the Komatsu Group, following the completion of the acquisition.

Key Questions addressed by the report

o What are the prominent market dynamics that are likely to impact the sales of these construction equipment?

o Which construction equipment type is going to in demand during the forecast period?

o Which are prominent countries driving the growth of construction equipment market?

o How are the players addressing the challenge of maintaining a sustainable and profitable model for construction equipment?

o What is the market share of key players in the market and the prominent strategies adopted by them?

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This release was published on openPR.