DUBLIN, April 4, 2023 /PRNewswire/ -- The "Building And Road Construction Equipment Global Market Report 2023" 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 market.
The global building & road construction equipment market will grow from $175.54 billion in 2022 to $194.84 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The building & road construction equipment market is expected to grow to $282.41 billion in 2027 at a CAGR of 9.7%.
Major players in the building and road construction equipment market are AB Volvo, Caterpillar Inc, Komatsu Ltd, Liebherr Group, Hitachi Construction Machinery Co. Ltd, J.C. Bamford Excavators Ltd, Terex Corporation, The Atlas Copco Group, Deere & Company, and Sany Group.
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The building and road construction equipment market consists of sales of asphalt mixing plants, forklift truck, crawler excavator, truck crane, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The building and road construction equipment refer to self-propelled or towed equipment used directly in building and road construction.
Asia Pacific was the largest region in the building and road construction equipment market in 2022. Western Europe was the second-largest region in the building and road construction equipment market. The regions covered in the building and road construction equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of building and road construction equipment are motor graders, road rollers, wheel loaders, concrete mixers, bulldozers, and other product types. Motor graders are being used to finish grade the rough grading performed by heavy CE like scrapers and bulldozers. The equipment categories are earthmoving equipment, material-handling equipment, heavy construction vehicles, and other equipment categories. The various applications involved are building construction, and road construction.
Infrastructure development in emerging and developed countries propelled the building and road construction equipment market. Emerging and developed countries' governments and private sector are focusing on developing the infrastructure to keep up the GDP, meet the growing population needs, meet the levels of urbanization, and increase connectivity by developing highways and expressways.
For instance, the total Indian investment in road construction was worth $22.4 billion with private investment accounting for 14% of the total investments. Furthermore, according to the World Bank, the private sector infrastructure investment commitments for low- and middle-income countries were valued at $76.2 billion in 2021, which was a 49% increase from 2020 globally.
Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time-consuming which further acts as a major driver for the building and road construction equipment market's growth.
The high cost of equipment and initial setup is expected to hinder the building and road construction equipment market. The cost of equipment consists of the purchase price, sales tax, shipping cost, installation cost, and financing charges at the time of acquisition of the equipment. A new full-size excavator can cost between $100,000 and $500,000, where companies are required to make high investments, as the purchase also involve additional costs, adding to the financial burden on companies and hindering the construction and road construction equipment market.
The manufacturing companies in building and road construction equipment are concentrating on upgrading their technologies. The technology advancements aim to increase safety, productivity, and connectivity of equipment and decrease maintenance issues and costs.
The countries covered in the building and road construction equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Key Topics Covered:
1. Executive Summary
2. Building And Road Construction Equipment Market Characteristics
3. Building And Road Construction Equipment Market Trends And Strategies
4. Building And Road Construction Equipment Market - Macro Economic Scenario
4.1 COVID-19 Impact On Building And Road Construction Equipment Market
4.2 Ukraine-Russia War Impact On Building And Road Construction Equipment Market
4.3 Impact Of High Inflation On Building And Road Construction Equipment Market
5. Building And Road Construction Equipment Market Size And Growth
5.1. Global Building And Road Construction Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Building And Road Construction Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Building And Road Construction Equipment Market Segmentation
6.1. Global Building And Road Construction Equipment Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Motor Graders
- Road Roller
- Wheel Loaders
- Concrete Mixer
- Bulldozers
- Other Product Types
6.2. Global Building And Road Construction Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Building Construction
- Road Construction
6.3. Global Building And Road Construction Equipment Market, Segmentation By Equipment Category, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Earthmoving Equipment
- Material-Handling Equipment
- Heavy Construction Vehicles
- Other Equipment Categories
7. Building And Road Construction Equipment Market Regional And Country Analysis
7.1. Global Building And Road Construction Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Building And Road Construction Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/sb192v
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