Dublin, June 02, 2021 (GLOBE NEWSWIRE) -- The "Construction Machinery Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global construction machinery market as it emerges from the COVID-19 shut down.
The global construction machinery market is expected to grow from $204.24 billion in 2020 to $226.97 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $321.21 billion in 2025 at a CAGR of 9.1%.
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Where is the largest and fastest growing market for the construction machinery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Construction Machiner market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider construction machinery market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The construction machinery market section of the report gives context. It compares the construction machinery market with other segments of the construction machinery market by size and growth, historic and forecast.
Major players in the construction machinery market are Caterpillar Inc.; Komatsu; Hitachi Construction Machinery Co Ltd; Liebherr; Volvo Construction Equipment; Deere & Company; Zoomlion Heavy Industry Sci & Tch Co Ltd; Terex Corporation, Sany Heavy Industry Co. LTD; and XCMG Construction Machinery Co Ltd.
The construction machinery market consists of sales of construction machinery, surface mining machinery, and logging equipment by entities (organizations, sole traders, or partnerships) that produce construction machinery, including backhoes, bulldozers, construction and surface mining-type rock drill bits, construction-type tractors, and attachments, off-highway trucks, pile-driving equipment, portable crushing, pulverizing and screening machinery, powered post hole diggers, road graders and surface mining machinery (except drilling). The construction machinery market is segmented into earthmoving; material handling; and building & road construction equipment. Only goods and services traded between entities or sold to end consumers are included.
The construction machinery market has been observing multiple strategic initiatives such as partnerships and innovative product launches over recent years. Major companies in the market are continuously focusing on collaborating with other companies to expand their product portfolio and geographical presence. For instance, in July 2018, Caterpillar Inc, US-based construction machinery and equipment manufacturer announced the partnership agreement with Newmont Mining, a US-based gold producer to develop underground vehicle automation technology. The companies together plan to focus on Caterpillar's semi-autonomous system for underground loaders and improving existing technology. Similarly, in July 2018, Hitachi Construction Machinery Co., Ltd. collaborated with Whitehaven Coal to design an Autonomous Haulage System (AHS) to support the company's mining operations in North West New South Wales.
The construction machinery market covered in the report is segmented by product into earthmoving; material handling; building & road construction equipment; autonomous construction equipment and by application into excavation & mining; lifting & material handling; earth moving; transportation; others.
In April 2019, The Toro Company, a US-based company that designs, manufactures, and sells construction equipment acquired The Charles Machine Works, Inc. Oklahoma Corporation and parent company of Ditch Witch for $700 million. The acquisition is expected to bring together the leading brands of The Toro Company's with The Charles Machine Works, Inc.'s product portfolio to better serve the needs of end-use customers of the company. The Charles Machine Works, Inc. is a US-based company engaged in the manufacturing and distribution of underground construction machinery and equipment.
Increasing investment in infrastructure is anticipated to contribute to the construction machinery's market growth. According to the World Economic Forum, the investment in infrastructure worldwide is projected to reach $79 trillion by 2040. According to Acuris, financial news and data firm in January 2020, the investment in infrastructure in India increased by 25% to $28.74 billion in 2019. The surge in investments in infrastructure is likely to generate higher demand for construction machinery and equipment, thereby driving the growth of the construction machinery market.
The COVID19 outbreak acted as a major restraint on the construction machinery market during 2020. The rapid surge in the number of people suffering from coronavirus forced the government to impose lockdowns resulting in the temporary closure of many businesses. Large infrastructure building projects were kept on hold due to social distancing practices imposed worldwide. This led to decreased demand for construction machinery and companies in the market had to halt or slow down the production that impacted the revenues of the market. For instance, Hitachi Construction Machinery Co., Ltd., a Japan-based construction company engaged in manufacturing and sales of construction and transportation machinery announced the halt of production at many sites including Russia, the Middle East, Africa, and Asia during COVID19 lockdowns.
Key Topics Covered:
1. Executive Summary
2. Construction Machinery Market Characteristics
3. Construction Machinery Market Trends and Strategies
4. Impact of COVID-19 on Construction Machinery
5. Construction Machinery Market Size and Growth
5.1. Global Construction Machinery Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Construction Machinery Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Construction Machinery Market Segmentation
7. Construction Machinery Market Regional and Country Analysis
7.1. Global Construction Machinery Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Construction Machinery Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Construction Machinery Market
9. China Construction Machinery Market
10. India Construction Machinery Market
11. Japan Construction Machinery Market
12. Australia Construction Machinery Market
13. Indonesia Construction Machinery Market
14. South Korea Construction Machinery Market
15. Western Europe Construction Machinery Market
16. UK Construction Machinery Market
17. Germany Construction Machinery Market
18. France Construction Machinery Market
19. Eastern Europe Construction Machinery Market
20. Russia Construction Machinery Market
21. North America Construction Machinery Market
22. USA Construction Machinery Market
23. South America Construction Machinery Market
24. Brazil Construction Machinery Market
25. Middle East Construction Machinery Market
26. Africa Construction Machinery Market
27. Construction Machinery Market Competitive Landscape and Company Profiles
27.1. Construction Machinery Market Competitive Landscape
27.2. Construction Machinery Market Company Profiles
27.2.1. Caterpillar Inc.
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
27.2.3. Hitachi Construction Machinery Co Ltd
220.127.116.11. Products and Services
18.104.22.168. Financial Performance
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
27.2.5. Volvo Construction Equipment
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
29. Key Mergers and Acquisitions in the Construction Machinery Market
29. Construction Machinery Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/xqulkb
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