This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Construction Equipment Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.
Impact of COVID-19 on Construction Equipment Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players:
- Komatsu Ltd.
- John Deere
- Sany Group
- Hitachi Construction Machinery Co. Ltd.
- CNH Industrial
- Volvo Construction Equipment
- Caterpillar, Inc.
- XCMG Group
- Kobelco Construction Machinery Ltd.
- Terex Corporation.
Growth drivers and Market Value:
This report, from Stratview Research Construction Equipment Market value and growth drivers over the trend period of 2022-27. According to the report -
Construction Equipment Market is likely to witness a CAGR of 4.9% during the forecast period. This market growth is mainly attributed to the high demand for robust residential and commercial infrastructure along with growing urbanization across the world. Market revenue will be positively influenced by the high concentration of regional government authorities on investment in significant public infrastructure projects which act as a major growth driver for economic development. For an instance, the US government spent USD 353.0 billion for public construction in October 2021, which was 1.8 percent above the previous month’s spending.
Segment Analysis:
By Product Type
Based on the product type, the market is segmented as earthmoving and road-building equipment, material handling & cranes, and concrete equipment. The earthmoving and road-building equipment segment led the market in 2021, and is expected to maintain its dominance during the forecast period. Compaction equipment, excavators, loaders, and backhoes are the machines included in this segment. The government authorities’ strong emphasis on the development of a well-connected road network to support growing freight transports will propel the growth of the segment. Also, the backhoe segment is expected to grow at a significant rate on account of its ability to perform versatile operations which include clamping, dozing, digging, and back dragging at construction sites. Moreover, new product launches in the backhoe segment with advanced features, and technologies will drive the growth of the market during the forecast period.
By Region
In terms of regions, Asia-Pacific is estimated to be the leading region in the market, owing to the emergence of online retail services, availability of machines on rental basis, and increasing government investments in infrastructure development in the region. Furthermore, China is likely to hold the largest share of the market on account of the large number of emerging companies in the market that are manufacturing technology-driven construction machines. The government in China is investing in public infrastructure and renewable energy, along with residential projects, which is ultimately increasing the demand for construction machinery in the region.
Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.
Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.
Key Considerations for Market Forecast:
- Impact of lockdown, supply chain disruptions.
- Pre and post-COVID-19 market estimates
- Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Impact of COVID-19 on the Global Market
The Construction Equipment report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.
Sneak peek into the Report:
The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
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About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
