Construction Equipment Market Coronavirus Pandemic: Short and long-term actions taken by Key Player? Fortune Business Insights 2021-2030

In a recent published report, Kenneth Research has updated the market report for Construction Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Construction Equipment Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global Construction Equipment Market is estimated to reach $385 Billion by 2025; growing at a CAGR of 8.9% from 2017 to 2025. Construction equipment are heavy machineries designed to perform construction operations. Construction equipment are used extensively at construction sites and mining sites to reduce labor cost and time. This equipment is used for different functions such as drilling, excavating, hauling, paving, grading, and many others. They commonly comprise five equipment systems: implement, structure, traction, power train, and control & information. Urbanization has led to the augmented demand for infrastructure development projects like the construction of roads, mega cities, metros, sewage facilities, and transit systems. This elevated the need for advanced construction equipment. Furthermore, construction equipment finds a widespread application in end-use industries such as manufacturing, mining, oil & gas, forestry, and public work, among others.

Increasing construction and mining activities, tremendous growth in real estate sector, rising demand for advanced infrastructure in emerging economies, rapid urbanization and industrialization are the primary factors driving the growth of the global construction equipment market. However, the market consists of one major constraint i.e. stringent government guidelines concerning carbon emission. Though, rising government investment for infrastructure development, and renting or leasing of equipment is expected to provide profitable growth opportunities for the market in the forecast timeframe.

Solution type, type, application, industries, and geography are the major segments considered in the global construction equipment market. On the basis of solution type, the segment includes products, and services (rental, and maintenance). The type segment is bifurcated into loaders, cranes, forklift, excavators, dozers, and other types. By application, the segmentation offers excavation & mining, lifting & material handling, earth moving, transportation, and other applications. Furthermore, the industries segment is sub-segmented into oil & gas, public works & rail road, forestry & agricultural, manufacturing, military, and mining.

Based on geography, the global construction equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

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The prominent players profiled in the report include Caterpillar Inc., Komatsu Ltd., Sandvik, Joy Global, Hitachi Co. Ltd., Atlas Copco, AB Volvo, Doosan Group, Metso, and Liebherr Group, among others. Top players such as Caterpillar Inc.; Joy Global Inc. Inc. Metso, Komatsu Ltd.; Sandvik; Hitachi Co. Ltd., and others, have witnessed a significant growth in the past few years. Innovative products, such as remote-controlled construction equipment, launched by these players have increased their overall consumer base.

The key takeaways from the report
The report will provide detailed analysis of Global Construction Equipment Market with respect to major segments such as solution type, type, application, industries, and geography

The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025

Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Construction Equipment Market has been included in the report

Profile of the key players in the Global Construction Equipment Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Construction Equipment Market
Solution Type Segments

Type Segments

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Other Types
Application Segments

Excavation & Mining
Lifting & Material Handling
Earth Moving
Other Applications
Industries Segments

Oil & Gas
Public Works & Rail Road
Forestry & Agricultural
Geographical Segments

North America
Rest of Europe
Rest of Asia-Pacific
South America
Middle East

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