Report Id: SNS/EQIP/1088 | May 2022 | Region: Global | 130 Pages
Report Scope & Overview:
Construction Equipment Market Size was valued at USD 170.77 Bn in 2022 and is expected to reach at USD 270.14 Bn by 2030, and grow at a CAGR of 5.9% over the forecast period 2023-2030.
The overall ascent in construction activity is expected to drive the interest for this gear. Good government drives, for example, upgrade bundles and lower lodging rates that slanted buyers for new house buys are key elements expected to drive market development over the figure time frame. Notwithstanding, production network and stock worries combined with semiconductor deficiencies are probably going to frustrate the market development over the course of the following couple of years.
The construction equipment market comprises of deals of development hardware, surface mining apparatus, and logging gear by elements (associations, sole brokers, or organizations) that produce development apparatus, including excavators, tractors, development and surface mining-type rock bores, development type work vehicles, and connections, off-roadway trucks, heap driving hardware, compact squashing, pummeling, and screening apparatus, fueled post-opening diggers, street graders and surface mining hardware (with the exception of penetrating). Just labor and products exchanged between substances or offered to end customers are incorporated.
The rising fame of electric construction equipment is supposed to make new income streams for the OEMs over the course of the following couple of years. This construction equipment is worked on batteries and proposition different qualities like lower upkeep, decreased clamor, lesser vibration and gives more prominent accommodation to workers to work on the field. They are presently at the beginning stage and are supposed to pick up speed over the figure time frame. OEMs like AB Volvo, Caterpillar, and Komastu have proactively popularized reduced electric earthmovers and wheel loaders on the lookout. Be that as it may, the high introductory forthright expense is supposed to be one of the bottlenecks for its reception during the conjecture time frame.
Steady growth in private, business, and modern development, mine and well development, and institutional spending.
Rising modern and industrial construction development projects.
Governments strict regulations as well as carbon emissions.
Some development projects have been deferred or dropped because of COVID-19.
Infrastructure development in developing countries.
Advance equipment reduces labor costs and works time.
Costly proprietorship costs.
Equipment has high upkeep costs.
Heavy construction equipment is responsible for ozone emission and responsible for reducing air quality.
The absence of able and talented administrators in the market is making an obstruction.
IMPACT OF COVID:
The construction equipment market was hit most awful in the 3/4 of 2020 because of the critical spread of COVID-19. States across the globe acknowledged severe wellbeing measures including lockdown to contain the infection. This lockdown brought about the impermanent suspension of development exercises, closure of construction equipment producing organizations, and unsettling influence in worldwide imports and products. Organizations, like CNH Industrial N.V., Liebherr Group, and The Manitowoc Company, stopped their creation in 2020 for the wellbeing of their workers. Nonetheless, the business is supposed to observe a fast recuperation in 2022 drove by different government drives to work on the nation's framework.
The construction equipment market is segmented on the basis of solution type, equipment type, application type, type, application industry.by solution type it is divided into products and services. By equipment the construction equipment is classified into heavy construction and compact construction equipment. By type it is classified into loader, cranes, forklift, excavators, dozers, and others. By application, it is divided into excavation and mining, lifting, and material handling earth moving transportation and others by end users, it is grouped into oil and gas, construction and infrastructure, manufacturing, mining and others.
In 2019 the product segment of solution type segment dominated in the market in terms of revenue and is expected to maintain this trend during the forecast period. By equipment market segment the compact construction equipment during he forecast period market is expected to grow rapidly and in by type segment the loader is expected to dominate the market during the forecast period. In the application, the market segment the lifting and material handling segment is expected to grow at the highest during the forecast period in by user the market is dominated by the construction and infrastructure segment and is expected to remain dominated by the end of the forecast period.
KEY MARKET SEGMENTS:
By solution type:
By equipment type:
Heavy construction equipment
Compact construction equipment
Excavation and mining
Lifting and material handling
Oil and gas
Construction and infrastructure
Asia Pacific represented the biggest income portion of more than 40% in 2021 and is supposed to enroll a CAGR of more than 4.0% from 2022 to 2028. The market development is fundamentally credited to great government arrangements to support framework projects across arising economies like India, China, and Southeast Asian nations. Furthermore, the new Regional Comprehensive Economic Partnership (RCEP) international alliance of China with Asia Pacific nations, including Japan, South Korea, Australia, and other more modest Southeast Asian nations, is supposed to foster high level vehicle framework exercises in the locale, along these lines driving the interest. The arrangement was strategic for China for reinforcing its local monetary securities to redirect from the delayed consequences of the U.S. China exchange war.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are HITACHI LTD., AB VOLVO, CATTERPILLAR INC., CNH INDUSTRIAL N.V, DEERE AND COMPANY, DOOSAN INFRACOE CO.LTD, J C BAMFORD EXCAVATORS. LTD., KOMATSU LTD, Liebherr-international AG, XCMG GROUP
|Market Size in 2022||US$ 170.77 Billion|
|Market Size by 2030||US$ 270.14 Billion|
|CAGR||CAGR of 5.9% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Solution Type (product and service)
• By Equipment (heavy and compact construction equipment)
• By Type (Loader, cranes, forklift, excavator, dozers, others)
• By Application (excavation and mining, lifting and material handling, earth moving, transportation, others)
• By Industries (Oil and Gas, Construction and infrastructure, Manufacturing, Mining, Other)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||HITACHI LTD., AB VOLVO, CATTERPILLAR INC., CNH INDUSTRIAL N.V, DEERE AND COMPANY, DOOSAN INFRACOE CO.LTD, J C BAMFORD EXCAVATORS. LTD., KOMATSU LTD, Liebherr-international AG, XCMG GROUP|
|DRIVERS||• Steady growth in private, business, and modern development, mine and well development, and institutional spending.
• Rising modern and industrial construction development projects.
|RESTRAINTS||• Governments strict regulations as well as carbon emissions.
• Some development projects have been deferred or dropped because of COVID-19.
Frequently Asked Questions (FAQ) :
Ans: Asia Pacific represented the biggest income portion of more than 40% in 2021
Ans: 5 segments of the Construction Equipment Market
Ans: Decreased deal value of construction equipment projects are the restraints for Construction Equipment Market
Ans: The construction equipment market was hit most awful in the 3/4 of 2020 because of the critical spread of COVID-19. States across the globe acknowledged severe well-being measures including lockdown to contain the infection. This lockdown brought about the impermanent suspension of development exercises, closure of construction equipment producing organizations, and unsettling influence on worldwide imports and products.
Ans: The global construction equipment market size was valued at USD 112.98 billion in 2021.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Construction Equipment Market Segmentation, by Solution type
9. Construction Equipment Market Segmentation, by Equipment type
9.1 Heavy construction equipment
9.2 Compact construction equipment
10. Construction Equipment Market Segmentation, by Type
11. Construction Equipment Market Segmentation, by Application
11.1 Excavation and mining
11.2 Lifting and material handling
11.3 Earth moving
12. Construction Equipment Market Segmentation, by Industries
12.1 Oil and gas
12.2 Construction and infrastructure
13 Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14. Company Profiles
14.1 HITACHI LTD.
14.3 Products/ Services Offered
14.4 SWOT Analysis
14.5 The SNS view
14.2 AB VOLVO
14.3 CATTERPILLAR INC.
14.4 CNH INDUSTRIAL N.V
14.5 DEERE AND COMPANY
14.6 DOOSAN INFRACOE CO.LTD
14.7 J C BAMFORD EXCAVATORS. LTD.
14.8 KOMATSU LTD.
14.9 Liebherr-international AG
14.10 XCMG GROUP
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.
Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but is not limited to getting rid of the many typos, duplication of numbers, or missing any important information. The people involved in this process include technical content writers, research heads, and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.