Heavy Construction Equipment Market by Product Type, Distribution Channel, End User 2023-2028

Author: Elena Anderson Marketing Manager

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Global Heavy Construction Equipment Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " HeavyConstructionEquipmentMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunitya ndForecast2023-2028

," the global heavy construction equipment market size reached US$ 132.0 Billion in 2022.

Heavy construction equipment refers to machinery used to perform heavy operations, such as material handling, excavation, lifting, and other heavy operations. Some of the most commonly used heavy construction equipment include dumpers, tippers, dozers, motor graders, loaders, and excavators. It is used widely in the residential, commercial, and industrial sectors.

It also help increase the output rate with the help of work progress, minimize the need for manpower, and improve speed, efficiency, and safety. In recent years, heavy construction equipment has gained momentum due to its extensive adoption in various industry verticals, including manufacturing, mining, infrastructure, construction, and oil and gas.

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Global Heavy Construction Equipment Market Trends:

One of the primary factors driving the market is the expanding construction industry across the globe. Additionally, the increased private sector investment and the rapid growth of the real estate sector are positively influencing the market growth. Other than this, the utilization of cranes for lifting heavy materials with precision and exactness, along with an enhanced level of safety, is escalating the demand for heavy construction equipment. Besides this, the steady rise in the prices of residential properties, coupled with an increase in the demand for residential homes, is propelling the market growth. In line with this, governments of various nations are heavily investing in the development of smart cities, which has resulted in high demand for heavy construction equipment, such as road construction machinery.

Furthermore, the renting and leasing services available for heavy construction equipment have made it more accessible, thus strengthening the market growth. Apart from this, numerous technological upgradations, such as the integration of machine learning (ML) and the Internet of Things (IoT) to optimize equipment utilization and enhance operational efficiency, are driving the market growth. Other growth-inducing factors include the escalating demand for advanced construction equipment and the implementation of numerous government initiatives promoting commercial, residential and infrastructural developments.

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Looking forward, IMARC Group expects the market value to reach US$ 177.7 Billion by 2028, expandingataCAGRof4.96%duringtheforecastperiod(2023-2028).

View Report TOC, Figures and Tables: https://www.imarcgroup.com/heavy-construction-equipment-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Equipment Type:

• Earthmoving Equipment

• Material Handling Equipment

• Heavy Construction Vehicles

• Others

Breakup by End User:

• Infrastructure

• Construction

• Mining

• Oil and Gas

• Manufacturing

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• AB Volvo

• Caterpillar Inc

• CNH Industrial N.V

• Deere & Company

• Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.)

• Hyundai Doosan Infracore Co. Ltd

• JCB Ltd

• Komatsu Ltd

• Liebherr AG

• SANY Group Co. Ltd

• Terex Corporation

• XCMG Group

1. Whatwasthesizeoftheglobalheavyconstructionequipmentmarketin2022?

2. Whatistheexpectedgrowthrateoftheglobalheavyconstructionequipmentmarketduring 2023-2028?

3. Whatarethekeyfactorsdrivingtheglobalheavyconstructionequipmentmarket?

4. WhathasbeentheimpactofCOVID-19ontheglobalheavyconstructionequipmentmarket?

5. Whatisthebreakupoftheglobalheavyconstructionequipmentmarketbasedonthe equipmenttype?

6. Whatarethekeyregionsintheglobalheavyconstructionequipmentmarket?

7. Whoarethekeyplayers/companiesintheglobalheavyconstructionequipmentmarket?

Clickheretovisitthecompletetableofcontentwithlistoffiguresandtables: https://www.imarcgroup.com/heavy-construction-equipment-market/toc

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