Global Construction Equipment Market- Description
Construction equipment are referred to as the heavy machinery used to execute construction activities, with most of them largely involved in earthwork operations along with other heavy tasks. These machines mainly function through the mechanical abilities of simple machine which in turn makes heavy construction tasks easier with lesser workforce. Some of the commonly used construction equipment are excavators, truck loader, grader, loader, just to name a few. With rapid urbanization and economic development across the globe, construction activities have seen a sharp rise, thus paving the way for the expansion of global construction equipment market.
Source: WMR
Global Construction Equipment Market- Overview
Global construction market was valued at USD 208,300 million in 2022 and is anticipated to register a CAGR of 3.8% during the forecast duration of 2023-2033, thereby reaching a valuation of USD 308,540 million by the end of the analysis timeline.
Rise in construction activities globally and rising investments in infrastructure are the major drivers propelling the progression of this marketplace. Additionally, economic growth in emerging nations, technological advancements in the field, and population expansion across the globe which in turn is boosting the demand for the construction of more residential and commercial areas are positively swaying the market dynamics.
Source: WMR
Global Construction Equipment Market – Key Trends
· Rise in infrastructural investments post the COVID-19 pandemic is aiding market development:
The pandemic breakout had brought the entire world to a complete standstill. With lockdowns imposed in almost all the nations of the world, many markets were severely affected with construction sector being one of them. Although the construction equipment sales were falling, there was a surge in the demand for the construction of hospitals, laboratories, logistics infrastructures, along with other medical facilities. This in turn led to many nations taking up projects to cater to the emergency infrastructural needs in their country, significantly creating development avenues for global construction equipment market.
· Electrification of construction equipment is likely to create expansion prospects for the marketplace:
There has been a high demand for the electrification of construction equipment as it will enhance the capacity of the machines and make the work faster and easier. Growing consumer inclination towards electric vehicles, be it public or personal as they are eco-friendly and cost effective is driving manufacturers to electrify their construction machinery. This is expected to increase the equipment sales, thereby adding to the market development in the ensuing years.
Global Construction Equipment Market- Segment Analysis
By equipment type
· Asphalt Finisher
· Motor Grader
· Backhoe Loader
· Motor Scraper
· Crawler Dozer
· Articulated Dump Truck
· Crawler Excavator
· Rigid Dump Truck
· Crawler Loader
· Road Roller
· Mini Excavator
· Rough Terrain Lift Truck (RTLT) Masted
· Wheeled Excavator
· Rough Terrain Lift Truck (RTLT) Telescopic
· Wheeled Loader <80 HP
· Wheeled Loader >80 HP
· Pick and Carry Crane.
· Skid-Steer Loader
· Compactor
Among these, the earth moving equipment segment presently holds a substantial market share as it uses hydraulic drives as its major motion source. Alongside, rising urban population and escalating demand for efficient infrastructural facilities across the globe are further boosting segmental expansion. The commonly used earthmoving machines are motor graders, loaders, and excavators.
By Equipment Category
· Material Handling Equipment
· Heavy Construction Vehicle
· Earthmoving Equipment
· Others
By Power Output
· <100HP
· 101-200 HP
· 201-400 HP
· >400 HP
Among these the 101-200 HP range is anticipated to register notable expansion over the forecast duration. This is attributable to the fact the equipment with this range allow manufacturers to enhance the machine capacity while downsizing the engine to a lower displacement level. This results in maintenance cost reduction and fuel economy enhancement, thereby promising a better component layout.
By Engine Capacity
· <5L
· 5L-10L
· >10L
By Propulsion Type
· Diesel
· CNG/LNG/RNG
By Application
· Commercial
· Residential
· Infrastructure
Source: WMR
Global Construction Equipment Market- Regional Landscape
Considering the geographical ambit, the market sphere constitutes of regions like Asia Pacific, North America, Asia, The Middle East, and The Rest of the World.
North America market is projected to register notable growth over the estimated timeline ascribing to low interest rate loans against manufacturing equipment which is encouraging higher investments by construction companies. Alongside, rise in residential construction and increasing construction expenditure is also contributing to the regional market progression matrix.
Global Construction Equipment Market- Competitive Hierarchy
The major players operating in the industry sphere are Caterpillar, Inc (US), Komatsu Ltd (Japan), Xuzhou Construction Machinery Group Co., Ltd (China), Sany Heavy Industries Co., Ltd (China), and Zoomlion Heavy Industry Science and Technology Co., Ltd (China), CATERPILLAR INC., DEERE & COMPANY, VOLVO GROUP, HITACHI CONSTRUCTION MACHINERY CO., LTD, LIEBHERR, CNH INDUSTRIAL, XCMG, DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD, TEREX CORPORATION, JCB, KUBOTA CORPORATION, KOBELCO CONSTRUCTION MACHINERY CO., LTD., SUMITOMO HEAVY INDUSTRIES, YANMAR CONSTRUCTION EQUIPMENT CO. LTD:, SUMITOMO HEAVY INDUSTRIES CONSTRUCTION CRANES CO., LTD, ATLAS COPCO AB, WRITGEN GROUP, HYUNDAI HEAVY INDUSTRIES, AMMANN, SANDVIK GROUP, ASTEC INDUSTRIES, KOBE STEEL LTD., MANITOWOC, GUANGXI LIUGONG MACHINERY CO., LIMITED and others.
Notably, Volvo Construction Equipment (Volvo CE), in April 2019 launched its first emission free wheel loader and electric compact excavator. These machines not only promise zero emission rates but also come with low noise level, less energy cost, low maintenance needs, along with enhanced efficiency as compared to the previous models.
Global Construction Equipment Market- Report Scope
Forecast Years- 2023-2033
Historical Years- 2020-2021
Global Construction Equipment Market 2022- USD 208,300 million
Global Construction Equipment Projected Market 2030- USD 308,540 million
Global Construction Equipment Market CAGR- 3.8%
Key segments reported-
By type (skid-steer, dozer, excavator-crawler & mini, wheel, dump truck, and loader back-hoe)
By Equipment Category (heavy construction vehicle, earthmoving equipment, material handling equipment, and others)
By Application (commercial, residential, and infrastructure)
By Power Output (<100 HP, 101-200 HP, 201-400 HP, and >400 HP)
By Engine Capacity (<5L, 5L-10L, and >10L)
By Emission Regulation (Stage II, Stage III, Stage IIIA, Stage IV, Stage V, Stage VI, Tier 4, and Tier 5)
By Aftertreatment Device (Diesel Oxidation Catalyst, Diesel Particulate Filter, Exhaust Gas Recirculation, and Selective Catalytic Reduction.
Key regions and countries reported-
North America (US, Mexico and Canada)
Europe (UK, Germany, Italy, France, Spain, and Rest of Europe)
Asia (China, Japan, India, Indonesia, Thailand, and Rest of Asia)
The Middle East (UAE, Saudi Arabia, Qatar, and Rest of Middle East)
The Rest of the World (Brazil, Russia, South Africa, and Other RoW)
Key Players Profiled- Caterpillar, Inc (US), Komatsu Ltd (Japan), Xuzhou Construction Machinery Group Co., Ltd (China), Sany Heavy Industries Co., Ltd (China), and Zoomlion Heavy Industry Science and Technology Co., Ltd (China). CATERPILLAR INC., DEERE & COMPANY, VOLVO GROUP, HITACHI CONSTRUCTION MACHINERY CO., LTD, LIEBHERR, CNH INDUSTRIAL, XCMG, DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD, TEREX CORPORATION, JCB, KUBOTA CORPORATION, KOBELCO CONSTRUCTION MACHINERY CO., LTD., SUMITOMO HEAVY INDUSTRIES, YANMAR CONSTRUCTION EQUIPMENT CO. LTD:, SUMITOMO HEAVY INDUSTRIES CONSTRUCTION CRANES CO., LTD, ATLAS COPCO AB, WRITGEN GROUP, HYUNDAI HEAVY INDUSTRIES, AMMANN, SANDVIK GROUP, ASTEC INDUSTRIES, KOBE STEEL LTD., MANITOWOC, GUANGXI LIUGONG MACHINERY CO., LIMITED and others.
1. Global CONSTRUCTION EQUIPMENT Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. CONSTRUCTION EQUIPMENT Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global CONSTRUCTION EQUIPMENT Market Scope and Market Estimation
1.4.1. Global CONSTRUCTION EQUIPMENT Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global CONSTRUCTION EQUIPMENT Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. CONSTRUCTION EQUIPMENT Market Segmentation
1.5.1. Equipment Type of Global CONSTRUCTION EQUIPMENT Market
1.5.2. Equipment Category of Global CONSTRUCTION EQUIPMENT Market
1.5.3. Power Output of Global CONSTRUCTION EQUIPMENT Market
1.5.4. Engine Capacity of Global CONSTRUCTION EQUIPMENT Market
1.5.5. Propulsion Type of Global CONSTRUCTION EQUIPMENT Market
1.5.6. Application of Global CONSTRUCTION EQUIPMENT Market
1.5.7. Key Regions of Global CONSTRUCTION EQUIPMENT Market
2. Global CONSTRUCTION EQUIPMENT Market - Executive Summary
2.1. Global CONSTRUCTION EQUIPMENT Market – Summary & Snapshot
2.2. Global CONSTRUCTION EQUIPMENT Market, By Equipment Type (US$ Million)
2.3. Global CONSTRUCTION EQUIPMENT Market, By Equipment Category (US$ Million)
2.4. Global CONSTRUCTION EQUIPMENT Market, By Power Output (US$ Million)
2.5. Global CONSTRUCTION EQUIPMENT Market, By Engine Capacity (US$ Million)
2.6. Global CONSTRUCTION EQUIPMENT Market, By Propulsion Type (US$ Million)
2.7. Global CONSTRUCTION EQUIPMENT Market, By Application (US$ Million)
2.8. Global CONSTRUCTION EQUIPMENT Market, By Geography (US$ Million)
2.9. Global CONSTRUCTION EQUIPMENT Market Outlook & Future Opportunities
3. CONSTRUCTION EQUIPMENT Market Trends, Outlook, and Factors Analysis
3.1. Global CONSTRUCTION EQUIPMENT Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global CONSTRUCTION EQUIPMENT Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. CONSTRUCTION EQUIPMENT Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Following the COVID-19 epidemic, infrastructural spending has increased.
3.2.1.2. Adoption of Advanced Construction Equipment to Drive Growth
3.2.1.3. Increasing Construction & Infrastructure Investments Worldwide to Boost Demand of Equipment
3.2.2. Restraints
3.2.2.1. Decreased deal value of construction equipment projects
3.2.2.2. Use of Construction Equipment Results in Environmental Imbalance and Hampers the Growth
3.2.3. Opportunities
3.2.3.1. Increasing demand of electric and autonomous construction equipment
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of CONSTRUCTION EQUIPMENT Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of CONSTRUCTION EQUIPMENT Market
3.9.1. By Equipment Type
3.9.2. By Equipment Category
3.9.3. By Power Output
3.9.4. By Engine Capacity
3.9.5. By Propulsion Type
3.9.6. By Application
3.9.7. By Regions
4. Global CONSTRUCTION EQUIPMENT Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global CONSTRUCTION EQUIPMENT Market, 2020 – 2021 (US$ Million)
4.2. Global CONSTRUCTION EQUIPMENT Market, By Equipment Type, 2020 to 2021 (US$ Million)
4.3. Global CONSTRUCTION EQUIPMENT Market, By Equipment Category, 2020 to 2021 (US$ Million)
4.4. Global CONSTRUCTION EQUIPMENT Market, By Power Output, 2020 to 2021 (US$ Million)
4.5. Global CONSTRUCTION EQUIPMENT Market, By Engine Capacity, 2020 to 2021 (US$ Million)
4.6. Global CONSTRUCTION EQUIPMENT Market, By Propulsion Type, 2020 to 2021 (US$ Million)
4.7. Global CONSTRUCTION EQUIPMENT Market, By Application, 2020 to 2021 (US$ Million)
4.8. Global CONSTRUCTION EQUIPMENT Market, By Region, 2020 to 2021 (US$ Million)
5. Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Equipment Type
5.1. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Equipment Type, 2022 & 2033
5.2. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Equipment Type, 2022 to 2033
5.2.1. Asphalt Finisher
5.2.2. Motor Grader
5.2.3. Backhoe Loader
5.2.4. Motor Scraper
5.2.5. Crawler Dozer
5.2.6. Articulated Dump Truck
5.2.7. Crawler Excavator
5.2.8. Rigid Dump Truck
5.2.9. Crawler Loader
5.2.10. Road Roller
5.2.11. Mini Excavator
5.2.12. Rough Terrain Lift Truck (RTLT) Masted
5.2.13. Wheeled Excavator
5.2.14. Rough Terrain Lift Truck (RTLT) Telescopic
5.2.15. Wheeled Loader <80 HP
5.2.16. Wheeled Loader >80 HP
5.2.17. Pick and Carry Crane.
5.2.18. Skid-Steer Loader
5.2.19. Compactor
6. Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Equipment Category
6.1. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Equipment Category, 2022 & 2033
6.2. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Equipment Category, 2022 to 2033
6.2.1. Material Handling Equipment
6.2.2. Heavy Construction Vehicle
6.2.3. Earthmoving Equipment
6.2.4. Others
7. Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Power Output
7.1. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Power Output, 2022 & 2033
7.2. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Power Output, 2022 to 2033
7.2.1. <100 HP
7.2.2. 101–200 HP
7.2.3. 201–400 HP
7.2.4. >400 HP
Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Engine Capacity
7.3. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Engine Capacity, 2022 & 2033
7.4. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Engine Capacity, 2022 to 2033
7.4.1. <5L
7.4.2. 5L-10L
7.4.3. >10L
Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Propulsion Type
7.5. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Propulsion Type, 2022 & 2033
7.6. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Propulsion Type, 2022 to 2033
7.6.1. Diesel
7.6.2. CNG/LNG/RNG
Global CONSTRUCTION EQUIPMENT Market Estimates & Forecast Trend Analysis, by Application
7.7. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033
7.8. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033
7.8.1. Commercial
7.8.2. Residential
7.8.3. Infrastructure
8. Global CONSTRUCTION EQUIPMENT Market Analysis and Forecast, by Region
8.1. Global CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global CONSTRUCTION EQUIPMENT Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America CONSTRUCTION EQUIPMENT Market: Estimates & Forecast Trend Analysis
9.1. North America CONSTRUCTION EQUIPMENT Market Assessments & Key Findings
9.2. North America CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America CONSTRUCTION EQUIPMENT Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1. By Equipment Type
9.3.2. By Equipment Category
9.3.3. By Power Output
9.3.4. By Engine Capacity
9.3.5. By Propulsion Type
9.3.6. By Application
9.3.7. By Major Country
9.3.7.1. The U.S.
9.3.7.2. Canada
10. Europe CONSTRUCTION EQUIPMENT Market: Estimates & Forecast Trend Analysis
10.1. Europe CONSTRUCTION EQUIPMENT Market Assessments & Key Findings
10.2. Europe CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe CONSTRUCTION EQUIPMENT Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
10.3.1. By Equipment Type
10.3.2. By Equipment Category
10.3.3. By Power Output
10.3.4. By Engine Capacity
10.3.5. By Propulsion Type
10.3.6. By Application
10.3.7. By Major Country
10.3.7.1. Germany
10.3.7.2. The U.K.
10.3.7.3. France
10.3.7.4. Italy
10.3.7.5. Spain
10.3.7.6. Rest of Europe (includes all other European countries)
11. Asia Pacific CONSTRUCTION EQUIPMENT Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific CONSTRUCTION EQUIPMENT Market Assessments & Key Findings
11.2. Asia Pacific CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific CONSTRUCTION EQUIPMENT Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
11.3.1. By Equipment Type
11.3.2. By Equipment Category
11.3.3. By Power Output
11.3.4. By Engine Capacity
11.3.5. By Propulsion Type
11.3.6. By Application
11.3.7. By Major Country
11.3.7.1. China
11.3.7.2. Japan
11.3.7.3. India
11.3.7.4. ASEAN
11.3.7.5. South Korea
11.3.7.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa CONSTRUCTION EQUIPMENT Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa CONSTRUCTION EQUIPMENT Market Assessments & Key Findings
12.2. Middle East & Africa CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa CONSTRUCTION EQUIPMENT Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Equipment Type
12.3.2. By Equipment Category
12.3.3. By Power Output
12.3.4. By Engine Capacity
12.3.5. By Propulsion Type
12.3.6. By Application
12.3.7. By Major Country
12.3.7.1. GCC
12.3.7.2. South Africa
12.3.7.3. Egypt
12.3.7.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America CONSTRUCTION EQUIPMENT Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America CONSTRUCTION EQUIPMENT Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America CONSTRUCTION EQUIPMENT Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
13.3.1. By Equipment Type
13.3.2. By Equipment Category
13.3.3. By Power Output
13.3.4. By Engine Capacity
13.3.5. By Propulsion Type
13.3.6. By Application
13.3.7. By Major Country
13.3.7.1. Brazil
13.3.7.2. Mexico
13.3.7.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. CONSTRUCTION EQUIPMENT Market Revenue Share Analysis (%), by Major Players (2021)
14.2. CONSTRUCTION EQUIPMENT Market Competition Matrix, by Leading Players
14.3. CONSTRUCTION EQUIPMENT List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. KOMATSU LTD.
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. CATERPILLAR INC.
15.3. DEERE & COMPANY
15.4. VOLVO GROUP
15.5. HITACHI CONSTRUCTION MACHINERY CO., LTD
15.6. LIEBHERR
15.7. CNH INDUSTRIAL
15.8. SANY HEAVY INDUSTRY CO., LTD
15.9. XCMG
15.10. DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD
15.11. TEREX CORPORATION
15.12. JCB
15.13. ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD
15.14. KUBOTA CORPORATION
15.15. KOBELCO CONSTRUCTION MACHINERY CO., LTD.
15.16. SUMITOMO HEAVY INDUSTRIES
15.17. YANMAR CONSTRUCTION EQUIPMENT CO. LTD:
15.18. SUMITOMO HEAVY INDUSTRIES CONSTRUCTION CRANES CO., LTD
15.19. ATLAS COPCO AB
15.20. WRITGEN GROUP
15.21. HYUNDAI HEAVY INDUSTRIES
15.22. AMMANN
15.23. SANDVIK GROUP.
15.24. ASTEC INDUSTRIES
15.25. KOBE STEEL LTD.
15.26. MANITOWOC
15.27. GUANGXI LIUGONG MACHINERY CO., LIMITED.
15.28. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
17.2. Key Insights & Recommendations from Analysts
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Global construction market was valued at USD 208,300 million in 2022 and is anticipated to register a CAGR of 3.8% during the forecast duration of 2023-2033, thereby reaching a valuation of USD 308,540 million by the end of the analysis timeline.
The pandemic breakout had brought the entire world to a complete standstill. With lockdowns imposed in almost all the nations of the world, many markets were severely affected with construction sector being one of them.
Some of the major players operating within the market are Caterpillar, Inc (US), Komatsu Ltd (Japan), Xuzhou Construction Machinery Group Co., Ltd (China), Sany Heavy Industries Co., Ltd (China), and Zoomlion Heavy Industry Science and Technology Co., Ltd (China), CATERPILLAR INC., DEERE & COMPANY, VOLVO GROUP, HITACHI CONSTRUCTION MACHINERY CO., LTD, LIEBHERR, CNH INDUSTRIAL, XCMG, DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD, TEREX CORPORATION, JCB, KUBOTA CORPORATION, KOBELCO CONSTRUCTION MACHINERY CO., LTD., SUMITOMO HEAVY INDUSTRIES, YANMAR CONSTRUCTION EQUIPMENT CO. LTD:, SUMITOMO HEAVY INDUSTRIES CONSTRUCTION CRANES CO., LTD, ATLAS COPCO AB, WRITGEN GROUP, HYUNDAI HEAVY INDUSTRIES, AMMANN, SANDVIK GROUP, ASTEC INDUSTRIES, KOBE STEEL LTD., MANITOWOC, GUANGXI LIUGONG MACHINERY CO., LIMITED and others.
Considering the geographical ambit, the market sphere constitutes of regions like Asia Pacific, North America, Asia, The Middle East, and The Rest of the World.
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