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Smart Construction Equipment Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Dec 09, 2024
Length 180 Pages
SKU # GMI19463508

Description

Smart Construction Equipment Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032


The global smart construction equipment market was valued at USD 19.2 billion in 2023. Projections indicate a CAGR of 12.8% from 2024 to 2032. This surge is largely attributed to escalating construction activities in developing nations. These countries, channeling significant investments into infrastructure projects like roads, bridges, urban housing, and smart cities, are witnessing a rising demand for advanced construction equipment. Such equipment, which seamlessly integrates IoT, AI, and automation technologies, not only boosts productivity but also curtails labor costs and enhances safety. Furthermore, the relentless pursuit of efficiency and productivity is propelling the market expansion. As construction projects grow in complexity and deadlines tighten, the demand for equipment that maximizes output while minimizing errors intensifies. Leveraging technologies like GPS, telematics, and automated controls, smart construction equipment not only boosts precision but also accelerates task completion. This translates to reduced operational costs, minimized delays, and optimized resource allocation. The overall industry is segmented into equipment, technology, level of automation, application, end-user, and region. The IoT segment dominated the market with a share exceeding 38% in 2023. Forecasts suggest this segment will surpass USD 21 billion by 2032, underscoring its transformative influence on construction operations. IoT's capabilities in real-time monitoring, data collection, and analysis play a pivotal role in boosting operational efficiency and curtailing downtime. By embedding sensors and connected devices in construction machinery, firms can monitor equipment health, optimize usage, and foresee maintenance needs, culminating in cost savings and prolonged equipment longevity. The semi-autonomous segment commanded a market share of approximately 67% in 2023. This segment's dominance in the smart construction equipment landscape stems from its unique blend of human oversight and automation. Such a synergy empowers operators to undertake intricate tasks with heightened precision and efficiency. Equipment like excavators and bulldozers, classified as semi-autonomous, are enhanced with features like GPS-guided systems, telematics, and sophisticated machine control technologies, all contributing to diminished human error and heightened productivity. North America smart construction equipment market secured over 33% share in 2023. Projections indicate that this figure will surpass USD 17.8 billion by 2032. The region's growth is fueled by the dominance of key industry players and the swift embrace of cutting-edge construction technologies. Notably, both the U.S. and Canada are making significant strides, bolstered by hefty investments in infrastructure, notably in smart cities and transportation initiatives.

Table of Contents

180 Pages
Chapter 1 Research Methodology
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2021-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 -2032
2.2.1.1 TAM trends
2.3 Regional trends
2.4 Equipment trends
2.5 Technology trends
2.6 Level of automation trends
2.7 Application trends
2.8 End user trends
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Raw material suppliers
3.1.2 Component manufacturers
3.1.3 Equipment manufacturers
3.1.4 Technology providers
3.1.5 Distribution channel
3.1.6 End users
3.2 Supplier landscape
3.2.1 Supplier landscape
3.3 Cost breakdown analysis
3.4 Technology and innovation landscape Â3.4.1 Internet of Things (IoT)
3.4.2 Robotics and automation
3.4.3 Building Information Modeling (BIM)
3.4.4 AI and ML
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.7.1 North America
3.7.1.1 Federal Motor Vehicle Safety Standards (FMVSS)
3.7.1.2 American National Standards Institute (ANSI) Standards
3.7.1.3 Environmental Protection Agency (EPA) Regulations
3.7.1.4 Canadian Standards Association (CSA) Standards
3.7.1.5 Occupational Health and Safety Acts (OHSA)
3.7.2 Europe
3.7.2.1 General Data Protection Regulation (GDPR)
3.7.2.2 Equipment and Product Safety Act (Gesetz über technische Arbeitsmittel und Verbraucherprodukte - ProdSG)
3.7.2.3 Regulatory Framework for Machinery (Directive Machines 2006/42/CE)
3.7.2.4 Product Liability Code (Codice Civile)
3.7.2.5 Código de Circulación (Traffic Code)
3.7.2.6 Construction and Safety Regulations (Bygg- och anläggningsföreskrifter)
3.7.3 Asia Pacific
3.7.3.1 Regulations on the Administration of Construction Engineering Quality
3.7.3.2 The Indian Standards (IS) Codes
3.7.3.3 Construction Business Act
3.7.3.4 Construction Technology Promotion Act
3.7.3.5 National Construction Code (NCC)
3.7.3.6 Government Regulation No. 50 of 2012 on the Implementation of the Building Construction Law
3.7.4 Latin America
3.7.4.1 Law No. 8,666 of 1993 - Public Procurement Law
3.7.4.2 General Law on Ecological Balance and Environmental Protection (Ley General del Equilibrio Ecológico y la Protección al Ambiente)
3.7.4.3 Regulations on Construction Safety (Normas de Seguridad en Obras de Construcción)
3.7.5 MEA
3.7.5.1 Construction and Building Codes
3.7.5.2 SANS (South African National Standards)
3.7.5.3 Construction Law (Royal Decree No. M/7)
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Rising construction activities in developing countries
3.8.1.2 Increasing demand for efficiency and productivity
3.8.1.3 Technological advancements in IoT, AI, and automation
3.8.1.4 Growing adoption of digitalization
3.8.2 Industry pitfalls and challenges
3.8.2.1 High initial investment
3.8.2.2 Complexity and technical challenges
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Smart Construction Equipment Market, By Equipment
5.1 Key trends
5.2 Earthmoving and road-building equipment
5.3 Material Handling and Cranes
5.4 Concrete equipment
5.5 Others
Chapter 6 Smart Construction Equipment Market, By Technology
6.1 Key trends
6.2 IoT (Internet of Things)
6.3 Automation & robotics
6.4 AI & machine learning
6.5 GPS
Chapter 7 Smart Construction Equipment Market, By Level of Automation
7.1 Key trends
7.2 Semi-autonomous
7.3 Fully autonomous
Chapter 8 Smart Construction Equipment Market, By Application
8.1 Key trends
8.2 Residential construction
8.3 Commercial construction
8.4 Mining & quarrying
8.5 Industrial construction
Chapter 9 Smart Construction Equipment Market, By End User
9.1 Key trends
9.2 Construction companies
9.3 Government agencies
9.4 Rental companies
9.5 Contractors
Chapter 10 Smart Construction Equipment, By Region
10.1 Key trends
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
10.6 MEA
Chapter 11 Company Profiles
11.1 Bauer Group
11.1.1 Global Overview
11.1.2 Market/Business Overview
11.1.3 Financial Data
11.1.3.1 Sales Revenue, 2021-2023
11.1.4 Product Landscape
11.1.5 Strategic Outlook
11.1.6 SWOT analysis
11.2 Bobcat Company
11.2.1 Global Overview
11.2.2 Market/Business Overview
11.2.3 Financial data
11.2.4 Product Landscape
11.2.5 Strategic Outlook
11.2.6 SWOT analysis
11.3 CASE Construction Equipment
11.3.1 Global Overview
11.3.2 Market/Business Overview
11.3.3 Financial Data
11.3.3.1 Sales Revenue, 2012-2023
11.3.4 Product Landscape
11.3.5 Strategic Outlook
11.3.6 SWOT analysis
11.4 Caterpillar, Inc.
11.4.1 Global Overview
11.4.2 Market/Business Overview
11.4.3 Financial Data
11.4.3.1 Sales Revenue, 2021-2032
11.4.4 Product Landscape
11.4.5 Strategic Outlook
11.4.6 SWOT Analysis
11.5 CNH Industrial
11.5.1 Global Overview
11.5.2 Market/Business Overview
11.5.3 Financial Data
11.5.3.1 Sales Revenue, 2021-2023
11.5.4 Product Landscape
11.5.5 Strategic Outlook
11.5.6 SWOT analysis
11.6 Doosan Infracore Co., Ltd.
11.6.1 Global Overview
11.6.2 Market/Business Overview
11.6.3 Financial Data
11.6.3.1 Sales Revenue, 2021-2023
11.6.4 Product Landscape
11.6.5 Strategic Outlook
11.6.6 SWOT Analysis
11.7 Hitachi Construction Machinery Co., Ltd.
11.7.1 Global overview
11.7.2 Market/Business overview
11.7.3 Financial data
11.7.3.1 Sales Revenue, 2021-2023
11.7.4 Product landscape
11.7.5 SWOT analysis
11.8 Hyundai Construction Equipment Co., Ltd.
11.8.1 Global overview
11.8.2 Market/Business overview
11.8.3 Financial data
11.8.3.1 Sales Revenue, 2021-2023
11.8.4 Product landscape
11.8.5 Strategic outlook
11.8.6 SWOT analysis
11.9 JCB (J.C. Bamford Excavators Ltd.)
11.9.1 Global overview
11.9.2 Market/Business overview
11.9.3 Financial data
11.9.4 Product landscape
11.9.5 Strategic Outlook
11.9.6 SWOT analysis
11.10 John Deere (Deere & Company)
11.10.1 Global Overview
11.10.2 Market/Business Overview
11.10.3 Financial Data
11.10.3.1 Sales Revenue, 2021-2023
11.10.4 Product Landscape
11.10.5 Strategic Outlook
11.10.6 SWOT Analysis
11.11 Kobelco Construction Machinery Co., Ltd.
11.11.1 Global Overview
11.11.2 Market/Business Overview
11.11.3 Financial data
11.11.4 Product Landscape
11.11.5 Strategic Outlook
11.11.6 SWOT analysis
11.12 Komatsu Ltd.
11.12.1 Global overview
11.12.2 Market/Business overview
11.12.3 Financial data
11.12.3.1 Sales revenue, 2021-2023
11.12.4 Product landscape
11.12.5 SWOT analysis
11.13 Kubota Corporation
11.13.1 Global overview
11.13.2 Market/Business overview
11.13.3 Financial data
11.13.3.1 Sales revenue, 2021-2023
11.13.4 Product landscape
11.13.5 SWOT analysis
11.14 Liebherr Group
11.14.1 Global overview
11.14.2 Market/Business overview
11.14.3 Financial data
11.14.3.1 Sales revenue, 2021-2023
11.14.4 Product landscape
11.14.5 SWOT analysis
11.15 Manitou Group
11.15.1 Global Overview
11.15.2 Market/Business Overview
11.15.3 Financial Data
11.15.3.1 Sales Revenue, 2021-2023
11.15.4 Product Landscape
11.15.5 Strategic Outlook
11.15.6 SWOT Analysis
11.16 Sany Group
11.16.1 Global Overview
11.16.2 Market/Business Overview
11.16.3 Financial Data
11.16.3.1 Sales Revenue, 2021-2023
11.16.4 Product Landscape
11.16.5 Strategic Outlook
11.16.6 SWOT Analysis
11.17 Terex Corporation
11.17.1 Global Overview
11.17.2 Market/Business Overview
11.17.3 Financial Data
11.17.3.1 Sales Revenue, 2021-2023
11.17.4 Product Landscape
11.17.5 Strategic Outlook
11.17.6 SWOT Analysis
11.18 Volvo Construction Equipment
11.18.1 Global Overview
11.18.2 Market/Business Overview
11.18.3 Financial Data
11.18.3.1 Sales Revenue, 2021-2023
11.18.4 Product Landscape
11.18.5 Strategic Outlook
11.18.6 SWOT Analysis
11.19 XCMG (Xuzhou Construction Machinery Group)
11.19.1 Global Overview
11.19.2 Market/Business Overview
11.19.3 Financial Data
11.19.3.1 Sales Revenue, 2021-2023
11.19.4 Product Landscape
11.19.5 Strategic Outlook
11.19.6 SWOT Analysis
11.20 Zoomlion Heavy Industry Science & Technology Co., Ltd
11.20.1 Global Overview
11.20.2 Market/Business Overview
11.20.3 Financial Data
11.20.3.1 Sales Revenue, 2021-2023
11.20.4 Product Landscape
11.20.5 Strategic Outlook
11.20.6 SWOT Analysis

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