The new report by Expert Market Research titled, ‘Global Construction Machinery Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global construction machinery market, assessing the market based on its segments like machinery type, drive type, and regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market supported the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 7%
Industry Definition and Major Segments
Construction equipment manufacturers are being pushed to choose electric and hybrid vehicles over traditional hydraulic and mechanical vehicles by the demand for cost-effective machines and regulatory pressures to reduce emissions.
The construction machinery market can be divided on the basis of segments like machinery type and drive type:
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Based on machinery type:
• Telescopic Handlers
• Loader and Backhoe
• Motor Grader
Based on drive type:
Market Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rapid urbanisation and rising building project investment, along with increased demand for multi-family homes, condominiums, hospitals, hotels, and offices, have resulted in increased demand for construction equipment, assisting the global construction machinery industry's growth. The construction industry has gotten a boost in recent years because of rising construction spending in Asia and the Middle East, assisting the construction machinery market's growth. Skyscrapers have become the latest trend as property prices rise, owing to their ability to provide more cost-effective floor space, propelling the industry forward.
Key Market Players
The major players within the market are CNH Industrial N.V, Deere & Company, Manitou Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., Hitachi Construction Machinery Co., Ltd., J.C. Bamford Excavators Limited, Caterpillar Inc. [CAT (NYSE)] and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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