Published Date: 12-May-22
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According to a new report, published by KBV research, The Global Construction Equipment Market size is expected to reach $136.7 billion by 2027, rising at a market growth of 3.5% CAGR during the forecast period.
The Earth Moving Machinery segment acquired maximum revenue share in the Global Construction Equipment Market by Product in 2020; thereby, achieving a market value of $85.2 billion by 2027. Earthmoving machine is a huge piece of equipment, majorly heavy-duty vehicles, that is utilized in construction projects involving earthworks. They're used to move bulks of dirt, excavate foundations for landscaping, and other things. These machines are widely being utilized in the construction of enormous infrastructure.
Asia Pacific is the fastest growing region in the Global Construction Equipment Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $53.7 billion by 2027. The Europe market is estimated to witness a CAGR of 3.3% during (2021 - 2027). Additionally, The North America market would showcase a CAGR of 3.1% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Caterpillar, Inc., Kobelco Construction Machinery Co., Ltd. (Kobe Steel, Ltd.), Komatsu Ltd., Liebherr-International AG, Sumitomo Heavy Industries, Ltd., Terex Corporation, Volvo Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., Hitachi Construction Machinery Co., Ltd. (Hitachi ltd.), Hyundai Heavy Industries Co., Ltd. (Hyundai Construction Equipment Co., Ltd.)
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