Increasing industrial, residential, and commercial construction activities, rising government investments for infrastructure development and rising public-private partnerships is anticipated to offer lucrative opportunities for the growth of construction equipment market.
The global market for construction equipment was USD 130 billion for 2016 and is expected to grow at a CAGR of 8% during the forecast period to reach a market size of USD 240 billion by 2024. Earthmoving equipment accounts for the highest demand among all types of construction equipment, owing to its benefits in terms of increased efficiency, cost savings and safety.
Asia-Pacific held the largest market share of the world construction equipment market in terms of revenue and is also expected to grow at the highest CAGR owing to increasing industrialization and urbanization.
Mahindra & Mahindra Enters Construction Equipment Business
Mahindra RoadMaster G75, first motor grader is priced at Rs. 34.99 lakh, around one-third of the cost of big ones being sold by other companies. Mahindra Construction Equipment is a brand under the USD 17.8 billion and growing Global federation of companies The Mahindra Group. The Mahindra EarthMaster comes with remote care feature, the first and only one of its kind in backhoe loaders in India.
“Global Construction Equipment Market Outlook 2024” contains detailed overview of the global construction equipment market in terms of market segmentation by product type, provider type and end use industry.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global construction equipment market report also provides competitive outlook for some of the major players which includes profiling of companies such as Caterpillar, Hitachi Construction Machinery, Komatsu Ltd, Volvo Construction Equipment, Doosan Infracore Construction Equipment, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the construction equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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