Selbyville, Delaware, June 17, 2020 (GLOBE NEWSWIRE) — The global construction machinery market recorded valuation of USD 146.17 billion in 2018 and is estimated to grow profusely at a growth rate of 7.5 per cent through 2026. An expansive application gamut of these equipment in the construction and infrastructural development sector would potentially drive the overall construction machinery market size.
Additionally, the analysis enlists details that might prove to be important for the large, medium sized, and small enterprises, venture capitalists, key consulting companies and advisors, VARs, investors, investment bankers, and third-party knowledge providers.
Construction machinery are those machineries and equipment that play a pivotal role in umpteen construction processes. These machineries are fundamentally required in the construction industries and are often referred to as heavy-duty vehicles that are primarily designed for building roads, high structures or any other infrastructure. Some of the major machineries included in this belt are crane, excavator, crane, telescopic handling, and several others. As per Statista, the spending in construction in 2016 was nearly USD 292 billion which eventually increased to USD 302 billion in 2018, globally.
Another fundamental factor fueling the growth of global construction machinery market is the mounting demand for machineries that are extremely cost effective and comply with low emission regulations. However, relatively higher cost of construction machinery and faster depreciation are expected to impede the growth of the market in the upcoming years.
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The global construction machinery industry is diversified into vivid regions including North America, Asia Pacific, Europe, Latin America, and Rest of the World. According to the report, Asia Pacific is one of the fastest growing regions in the overall construction machinery industry owing to the expanding construction and real estate sector across various economies in the region. Likewise, APAC is also likely to grow at a prodigious pace in the upcoming years given the rising government regulations pertaining to construction projects.
Across APAC, India is projected to hold significant stake in the overall APAC construction machinery market share. According to the Indian Brand Equity Foundation (IBEF), the real estate industry in the country is anticipated to reach a mammoth of USD 1 trillion by the end of 2030 from over USD 120 billion in 2017. Moreover, it would contribute to nearly 13 per cent of the country’s GDP by 2025.
Considering the North America regional belt, the United States has been predicted to account for the largest share in the construction industries as it depicts a total expenditure incurred in the construction sector to be USD 1293 billion in 2019.
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The worldwide construction machinery industry is fragmented into machinery type, drive type, regions, and competitive landscape.
Construction Machinery Market Machinery Type Analysis (Revenue, USD million, 2016-2026)
- Telescopic Handlers
- Loader & Backbone
- Motor Grader
Construction Machinery Market Drive Type Analysis (Revenue, USD million, 2016-2026)
- Electric and Hybrid
Construction Machinery Market Regional Analysis (Revenue, USD million, 2016-2026)
Rest of the World
Construction Machinery Market Competitive Landscape Analysis (Revenue, USD million, 2016-2026)
- Caterpillar Inc.
- JCB India Limited
- CNH Industrial NV
- Hitachi Construction Machinery Co Ltd
- Deere & Company
- Kobelco Construction Machinery Co., Ltd
- Komatsu Ltd
- Mitsubishi Heavy Industries Ltd
- Volvo Group
- Doosan Infracore Co Ltd
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Construction Machinery Market, by Region, 2017-2026 (USD Billion)
1.2.2. Construction Machinery Market, by Machinery Type, 2017-2026 (USD Billion)
1.2.3. Construction Machinery Market, by Drive Type, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Construction Machinery Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Construction Machinery Market Dynamics
3.1. Construction Machinery Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Construction Machinery Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Construction Machinery Market, by Machinery Type
5.1. Market Snapshot
5.2. Global Construction Machinery Market by Machinery Type, Performance – Potential Analysis
5.3. Global Construction Machinery Market Estimates & Forecasts by Machinery Type 2016-2026 (USD Billion)
5.4. Construction Machinery Market, Sub Segment Analysis
5.4.2. Telescopic Handlers
5.4.4. Loader & Backbone
5.4.5. Motor Grader
Chapter 6. Global Construction Machinery Market, by Drive Type
6.1. Market Snapshot
6.2. Global Construction Machinery Market by Drive Type, Performance – Potential Analysis
6.3. Global Construction Machinery Market Estimates & Forecasts by Drive Type 2016-2026 (USD Billion)
6.4. Construction Machinery Market, Sub Segment Analysis
6.4.2. Electric and Hybrid
Chapter 7. Global Construction Machinery Market, Regional Analysis
Industrial machinery Market Forecast to 2027
The industrial machinery market was valued at US$ 1, 84,337.8 million in 2019 and is projected to reach US$ 2, 63,251.2 million by 2027; as per new research report. Industrial machinery is a device or machine that makes use of electrical and mechanical energy to perform work. Industrial machines include heavy machines that are used in construction, manufacturing, farming, mining, and others. These industrial machines reduce the efforts of humans and increase the efficiency and speed of the work. It is expected that the rising population, along with high disposable income among middle-class people will drive growth of the industrial machinery market during the forecast period.
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