Global Construction Machinery Market 2019-2023
Global Construction Machinery Market: About this market
Technavio’s construction machinery market analysis considers sales from earthmoving machinery, material handling machinery, concrete and road construction machinery, and other machinery. Our analysis also considers the sales of construction machinery in APAC, Europe, MEA, North America, and South America. In 2018, the earthmoving machinery segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing investment in infrastructure industry to improve facilities in government and private sectors, and rapid growth in urbanization will play a significant role in the earthmoving machinery segment to maintain its market position. Also, our global construction machinery market report also looks at factors such as increased investments in infrastructure, expanding manufacturing facilities, and new product launches. However, growing secondhand machine market, shortage of skilled operators, and stringent regulations may hamper the growth of the construction machinery industry over the forecast period.
Global Construction Machinery Market: Overview
Increased investment in infrastructure
Increasing investments in infrastructure projects across the world has led to increasing demand for construction machinery. Government organizations are significantly investing in development of sports and infrastructure facilities. This demand for construction machinery will lead to the expansion of the global construction machinery market at a CAGR of over 6% during the forecast period.
Growing trend of skyscrapers and mixed-use developments
Significant growth in population and rapid urbanization has led to increasing demand of infrastructure such as multi-family home, condominiums, hospitals, hotels, and offices. Skyscrapers are tall buildings which can accommodate its floor space on small amount of ground space. These skyscraper projects are mixed-use developments which blends residential, commercial, cultural, institutional, or entertainment users. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global construction machinery market during the forecast period 2019-2023, click here.
With the presence of several major players, the global construction machinery market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading construction machinery manufacturers, that include AB Volvo, Caterpillar Inc., Deere & Co., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., and Liebherr-International Deutschland GmbH.
Also, the construction machinery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
AB Volvo, Caterpillar Inc., Deere & Co., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., and Liebherr-International Deutschland GmbH.
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