Construction Equipment Market: Key Players and Production Information Analysis with Forecast 2031
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth. This newly published and insightful report sheds light on Market Insights of Construction Equipment, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Construction Equipment Market. The outbreak of COVID-19 has interrupted the growth construction, mining, and other industrial activities. Demand for construction equipment is contingent on the growth of these end-use industries, and with declining investments in these sectors, the construction equipment market is poised to experience a downward trend across the globe, in the near term. To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=3965 Demand for construction equipment is set to regain traction with an increase in investments made by governments in both, developed and developing countries, for infrastructure development projects. In addition, efforts made by governments to build highways, dams, railways, and roads as part of developing smart cities in the areas of energy, mobility, and government are projected to drive the sales of construction equipment in the foreseeable future. The global construction equipment market is poised to expand at a value CAGR of close to 4%, and is expected to create an absolute dollar opportunity of US$ 61 Bn over the forecast duration 2020-2030. Key Takeaways from Construction Equipment Market Study
Under the impact of COVID-19, the global construction equipment market is expected to reach a market valuation of US$ 180 Bn by the end of 2030. By equipment, demand for excavators is foreseen to grow 2.6X than cranes in 2020. On the other hand, cranes will account for 1/5 of the overall absolute dollar opportunity created during the forecast period. By power output, 200.1-400 HP construction equipment is projected to create an absolute $ opportunity of US$ 18 Bn from 2020 and 2030. By end use, the construction industry is projected to account for 42% of the total sales in 2020, and is anticipated to create an absolute $ opportunity of more than US$ 32 Bn during the forecast period 2020-2030.