
Report ID: SQSG15F2012
Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Construction Equipment Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Construction Equipment industry players.
The global construction equipment market is experiencing significant growth driven by the increasing demand for technologically advanced, fuel-efficient machinery. The companies are focused on innovation and incorporating ICT and IoT technologies into their products to enhance efficiency and meet environmental standards. Additionally, regional players are emerging, particularly in Asia-Pacific and Europe, where infrastructure development is booming. Competitive strategies among these companies involve expanding product portfolios, forming strategic partnerships, and investing in R&D to cater to evolving consumer needs and regulatory requirements. The competitive landscape is characterized by a blend of global giants and regional contenders striving to capitalize on market opportunities and overcome trade barriers.
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Construction Equipment Market size was valued at USD 155.91 Billion in 2023 and is poised to grow from USD 161.83 Billion in 2024 to USD 218.09 Billion by 2032, growing at a CAGR of 3.8% during the forecast period (2025-2032).
Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Liebherr Group, XCMG Group, Sany Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., Doosan Infracore, John Deere, JCB, Terex Corporation, CNH Industrial N.V., Hyundai Construction Equipment Co., Ltd., Kobelco Construction Machinery Co., Ltd.
Increasing demand for infrastructure facilities and need for small construction machines and also increased demand for technologically advanced and fuel-efficient construction equipment.
Government mandates on telematics and e-call services are driving technological advancements in the construction equipment market, leading to the development of more optimized and reliable products.
Asia Pacific is the dominating region for construction equipment market, and its leaders are China, Japan, and India. The expansion of the Chinese market was mainly due to public expenditure in 2020, which led to the growth of more than 2 times in the next two years.
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Report ID: SQSG15F2012
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