Construction and Mining Equipment Market size to grow by USD 62.13 billion from 2022 to 2027

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The construction and mining equipment market size to grow by USD 62.13 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 6.7% during the forecast period, according to Technavio. The construction and mining equipment market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. AB Volvo, Atlas Copco AB, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Kawasaki Heavy Industries Ltd., Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, SANY Group, Schaeffler AG, Sunward Europe Heavy Industry NV, Terex Corp., Xuzhou Construction Machinery Group Co. Ltd., Yanmar Holdings Co. Ltd., ZEPPELIN GmbH, and Kobe Steel Ltd. are some of the major market participants -. To know about the vendor offerings - Request a sample report

Construction and Mining Equipment Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The construction and mining equipment market report covers the following areas:

Construction and Mining Equipment Market Size

Construction and Mining Equipment Market Trends

Construction and Mining Equipment Market Industry Analysis

Porter's Five Forces Analysis

Customer Landscape

Construction and Mining Equipment Market 2023-2027:

Key Drivers

The expansion of construction and mining equipment manufacturing and distribution facilities is a key factor driving market growth. Market vendors are focusing on increasing their production capacities to meet the increasing demand for construction and mining equipment. Furthermore, the increased production capacity will enable the provider to meet the needs of end-users around the world. This factor can lead to differentiation from competitors and enable higher sales growth. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The digitization and automation of construction and mining equipment is a major trend in the market. Businesses are adopting these advanced technologies, which include robotics, drones, and telematics. As a result, this will enable remote monitoring of construction and mining equipment using telematics and help in real-time monitoring of equipment performance, fuel consumption, and maintenance needs. These technologies also enhance project timelines and reduce costs. Hence, these advanced technologies are expected to drive market growth during the forecast period.

Significant Challenges

The stringent regulations related to emissions, noise, and safety standards are significant challenges restricting market growth. Construction and mining equipment producers are suffering because of the stringent regulations governing emissions, noise, and safety standards for this equipment. Vendors must invest a significant amount of money in R&D and cutting-edge technology to develop construction and mining equipment that complies with all applicable standards. This can negatively impact the cost and availability of construction and mining equipment worldwide. Hence, these regulations are expected to restrict market growth during the forecast period.

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Construction and Mining Equipment Market 2023-2027: Segment Analysis

Product

Application

Geography

Construction and Mining Equipment Market 2023-2027: Segmentation Highlights

The loaders segment will account for a major share of the market's growth during the forecast period. This is because of their effectiveness, adaptability, and safety attributes. For material handling, loading, and transportation needs on construction and mining sites, loaders are heavy machinery. They are vehicles that can operate in a variety of environments, including sand, gravel, rock, and ores, and are able to move a wide range of materials. Hence, these benefits are expected to drive segment growth during the forecast period.

APAC is estimated to contribute 49% to the growth of the global market during the forecast period. The market for construction and mining equipment in the region is growing because of rising building activity in emerging nations like China and India. In addition, there is a growing need for additional commercial and residential construction to accommodate the urban population growth. On the other hand, it is expected that both commercial and residential development will rise significantly in emerging economies. Hence, the above-mentioned factors are expected to drive market growth in the region during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Construction and Mining Equipment Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist construction and mining equipment market growth during the next five years

Estimation of the construction and mining equipment market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the construction and mining equipment market across APAC, North America, Europe, Middle East and Africa, and South America

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of construction and mining equipment market vendors

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Construction and Mining Equipment Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.7%

Market growth 2023-2027

USD 62.13 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.81

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 49%

Key countries

US, Canada, China, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AB Volvo, Atlas Copco AB, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Kawasaki Heavy Industries Ltd., Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, SANY Group, Schaeffler AG, Sunward Europe Heavy Industry NV, Terex Corp., Xuzhou Construction Machinery Group Co. Ltd., Yanmar Holdings Co. Ltd., ZEPPELIN GmbH, and Kobe Steel Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global construction and mining equipment market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 Loaders - Market size and forecast 2022-2027

6.4 Dozers - Market size and forecast 2022-2027

6.5 Excavators - Market size and forecast 2022-2027

6.6 Pulverizing screening equipment - Market size and forecast 2022-2027

6.7 Crushing - Market size and forecast 2022-2027

6.8 Market opportunity by Product

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Infrastructure - Market size and forecast 2022-2027

7.4 Mineral mining - Market size and forecast 2022-2027

7.5 Residential building - Market size and forecast 2022-2027

7.6 Metal mining - Market size and forecast 2022-2027

7.7 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 India - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 Canada - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AB Volvo

12.4 Atlas Copco AB

12.5 Caterpillar Inc.

12.6 CNH Industrial NV

12.7 Deere and Co.

12.8 Doosan Corp.

12.9 Hitachi Construction Machinery Co. Ltd.

12.10 J C Bamford Excavators Ltd.

12.11 Kawasaki Heavy Industries Ltd.

12.12 Kobe Steel Ltd.

12.13 Komatsu Ltd.

12.14 Kubota Corp.

12.15 Liebherr International Deutschland GmbH

12.16 SANY Group

12.17 Schaeffler AG

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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