Europe Construction Equipment Market accounted for more than USD 30 billion in 2017 and is further projected to grow at a significant rate over the coming six years. The regional growth is primarily driven by increased governmental focus on refurbishment and upgradation of existing infrastructure and rising smart city projects.Global Construction Equipment Market featuring the key industry trends across the product and regional landscape. The company projects the global construction equipment market share to surpass USD 170 billion by 2024.
High product demand across the energy and telecom sectors is slated to drive the industry growth over 2018-2024. Rapid urbanization trends and infrastructure development across the BRIC countries have further stimulated the industry expansion.
Earthmoving & road building machinery market is forecast to register a CAGR of 4% over 2018-2024. The considerable rise in construction activities have fueled the demand for sophisticated construction equipment & machines for commercial & residential projects. Robust product demand for excavators that are being used for underground and surface level operations is further expected to propel the earthmoving & road building machinery market over 2018-2024.
As per the report, the latest advancement in technologies such as GPS, remote tracking, telematics, embedded sensors, and real-time tracking machinery have significantly driven the global construction equipment industry trends.
The key players profiled in the report are Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., XCMG Group, Metso Corporation, J.C. Bamford Excavators Limited, Komatsu Limited, Liebherr Group, John Deere, Sany Group, Tadano Limited, The Atlas Copco Group, CNH Industrial, Wacker Neuson, Doosan Group, Volvo Construction Equipment, Zoomlion Heavy Industry Science & Technology Co. Ltd., Sumitomo Heavy Industries, Ltd., Palfinger AG. The companies have been profiled in terms of their SWOT assessment, product portfolio, and strategic outlook.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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