How big is the construction equipment market?
How big is the construction equipment market?
The construction equipment market was valued at USD 161 billion in 2020, and it is anticipated to reach USD 228 billion by 2026, registering a CAGR of over 6% during the forecast period (2021 -2026). The outbreak of COVID-19 and the subsequent shutdowns affected the construction industry in several countries.
Who is the largest construction equipment manufacturer?
Top 10 manufacturers of construction equipment
- Caterpillar: $24.8 billion.
- Komatsu: $19.9 billion.
- XCMG: $15.1 billion.
- Sany: $10.9 billion.
- Zoomlion: $9.4 billion.
- John Deere: $8.9 billion.
- Volvo CE: $8.8 billion.
- Hitachi: $8.5 billion.
How big is the heavy equipment industry?
The heavy construction equipment market size was valued at $1,71,667.0 million in 2019, and is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027. Heavy construction equipment is used for heavy operations tasks such as lifting, material handling, excavation, and others.
What is the heavy equipment industry?
Heavy industry is an industry that involves one or more characteristics such as large and heavy products; large and heavy equipment and facilities (such as heavy equipment, large machine tools, huge buildings and large-scale infrastructure); or complex or numerous processes.
How do you market construction equipment?
7 Heavy Equipment Digital Marketing Strategies for Sales Success
- Website.
- Geotargeting.
- Used Digital Advertising.
- Google My Business.
- Search Engine Optimization.
- Video Content.
- Branded Digital Advertising.
- 2021 Digital Advertising Playbook for Equipment Dealers.
What is industrial equipment industry?
The Industrial Equipment sector describes a diverse set of industries from complex machinery, both fixed and mobile, to large scale process and construction industry plants.
Who sells the most construction equipment?
Caterpillar
Caterpillar was the world’s largest construction machinery manufacturers in 2020, based on construction equipment sales: Caterpillar sold equipment to the value of around 24.8 billion U.S. dollars.
What company makes the best construction equipment?
The top ten construction equipment manufacturers in the world for 2019 are:
- Caterpillar. Once again the world’s number one construction equipment OEM when it comes to sales, US-based Caterpillar has a commanding lead at the top of the table.
- Komatsu.
- John Deere.
- XCMG.
- Sany.
- Volvo CE.
- Hitachi.
- Liebherr.
Which geographical region is seeing the most growth in the construction equipment market?
Asia-Pacific is projected to register the highest growth from 2016 to 2021, while India is projected to be fastest-growing country-level market in the region for the heavy construction equipment market.
How many construction companies are in the US?
700,000 construction companies
There are over 700,000 construction companies in the country, with their collective, total annual revenues reaching $1.7 trillion dollars in 2016. And in the United States alone, construction industry expenditures have now exceeded 900 billion U.S. dollars.
Is construction a heavy industry?
How Heavy Industry Works. Transportation and construction, along with their upstream manufacturing supply businesses, comprised most heavy industry throughout the industrial age, along with some capital-intensive manufacturing.
What is the size of the heavy construction equipment market?
Request Now ! The heavy construction equipment market size was valued at $1,71,667.0 million in 2019, and is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027.Heavy construction equipment is used for heavy operations tasks such as lifting, material handling, excavation, and others.
What is the future of the construction equipment market?
Increasing urbanization, particularly in Latin American and Asian countries, is creating a huge demand for residential infrastructure, contributing to the construction equipment market growth. Governments in European countries are making investments in new smart city development projects.
How will covid-19 impact the global construction equipment market in 2020?
The global impact of COVID-19 has been unprecedented and staggering, with construction equipment witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market will exhibit a lower growth of 2.6% in 2020 as compared to the average year-on-year growth during 2017-2019.
What are the major segments of the construction industry?
Based on equipment type, the market is segmented into earthmoving equipment, material handling equipment and cranes, concrete equipment, road building equipment, civil engineering equipment, crushing and screening equipment, and others.
