About Construction Machinery-
Construction machinery is mechanized equipment that is used to carry out construction tasks. Certain construction machines carry out a set of activities in a specific order to attain a specific goal. Excavating, roading, drilling, pile-driving, reinforcement, roofing, and finishing machinery, concrete-working machinery, and preparatory work machinery are the core groups of construction machinery. Loosening the soil and cleaning the area of bushes, trees, and rocks are all part of the preparation process. Construction machines placed on crawler-tractor chassis, such as rippers, brush cutters, and stump pullers, execute it. These machines typically include interchangeable, mounted equipment that is appropriate for the sort of work being done. Mechanical shovels and multi-bucket excavators, trench diggers, single-bucket loaders, and hydro mechanization equipment are among the machines employed. To compact earth in embankments and materials in roadbeds, vibration rollers and static road rollers with metal rolls and pneumatic tires are utilized.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market soon. Players are anticipated to focus on the development of electric and hydraulic compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Construction Machinery- market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar Inc. (United States), Komatsu Ltd. (Japan), Xuzhou Construction Machinery Group (China), Sany Heavy Industries (China), Zoomlion (China), CNH Industrial NV (United Kingdom), Deere & Company (United States), JCB India Limited (India), Volvo Group (Sweden) and Doosan Infracore (South Korean) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Hitachi (Japan) and Liebherr (United States).
Segmentation Overview
AMA Research has segmented the market of Global Construction Machinery- market by Type (Articulated Dump Truck, Asphalt Finisher, Backhoe Loader, Mini Excavator, Compactor, Road Roller and Other), Application (Commercial, Residential and Infrastructure) and Region.
On the basis of geography, the market of Construction Machinery- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Israel, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Earthmoving will boost the Construction Machinery- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fuel Type, the sub-segment i.e. Diesel will boost the Construction Machinery- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing adoptions of AI-powered machines
Market Growth Drivers:
Adoption of advanced construction machinery and Increasing construction and infrastructure investment
Challenges:
Lack of harmonized emission regulations globally
Restraints:
The use of construction machinery results in an environmental imbalance
Opportunities:
Electric and autonomous construction equipment
Market Leaders and their expansionary development strategies
In November 2023, CRH, the global leader in building materials solutions, and Volvo Group, the leader in transport and infrastructure solutions, signed a Memorandum of Understanding (MoU) to accelerate net-zero innovations in the design and deployment of on-road vehicles and off-road equipment used in construction with a focus on next-generation technology deployment, scaling cutting-edge technology, and operational efficiency.
In February 2022- Flexcavo, a Berlin-based construction technology company, has increased its capital for its construction machinery fleet by USD 8 million. Furthermore, the intended funds will be used to purchase a newly developed rental park in Maisach, Munich. Furthermore, JCB and Wacker Neuson have already planned around 150 new pieces of construction machinery and equipment for the 4,500 square meter site
Key Target Audience
Manufacturers of construction machinery, Suppliers of construction machinery, Wholesalers, Distributors, and Retailers of construction machinery, Research and Development (R&D) Companies, Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.