Construction Equipment Market by Type, Drivers, Challenges, Opportunities and Key Players Analysis

(IT-NEWSWIRE.COM, September 09, 2021 ) The upcoming infrastructural projects and increased government spending have led to an increase in construction activities. Additionally, with the advancements in technology, the equipment have become more fuel-efficient with lower emission levels and have enhanced safety and better-handling features.

Road roller is estimated to be the fastest growing equipment. Its increasing use can be attributed to the increasing need for roads in developing countries such as India and China along with major road development projects such as China–Pakistan Economic Corridor (CPEC), which aims to connect China with Central Asia and create a modern silk route.

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The tier-5 emission regulation engines are projected to have the largest share in the construction equipment market. The countries in North America such as Canada, the US, and Mexico are speculated to have enforced these regulations by 2025. Additionally it is speculated that Japan will also follow these regulations once they are in effect.

The earthmoving equipment category is estimated to be the largest segment of the market. A majority of construction equipment are used to carry, dig, spread, or move earth or materials. The material-handling equipment category is the fastest-growing segment as these equipment provide protection for materials, goods, and products in the process of manufacturing, distribution, consumption, and disposal.

Selective Catalytic Reduction (SCR) is projected to be the largest segment of the construction equipment market by after treatment devices. This is due to the stringent emission regulations that are speculated to be implemented in the Asia Pacific region.

Asia Pacific is expected to be the largest market for rental construction equipment. This can be attributed to its huge vehicle parc of construction equipment. With increasing population and urbanization, the demand for infrastructure development, housing, and office space in this region is projected to increase significantly over the next few years. Thus, it is expected to be the largest market for rental construction equipment

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Table of Contents:

4. Market Dynamics

4.1. Drivers

4.1.1.Increased Investment in Infrastructure to Boost the Demand for Construction Equipment

4.1.2.Increasing Demand for Smart City Projects to Uplift the Construction Equipment Requirement

4.1.3.Upcoming Emission Regulations to Boost Advancements in OHV Engine & Exhaust Technologies

4.2. Opportunities

4.2.1.Renting Or Leasing of Construction Equipment to Upsurge the Overall Equipment Demand

4.2.2.Autonomous Construction Equipment to Bring Changes in the Construction Industry During the Forecast Period

4.3. Challenges

4.3.1.High Cost of Equipment to Hinder the Construction Equipment Market Growth

4.3.2.Lack of Standardization and High Production Cost are Major Challenges for Manufacturers

5. Construction Equipment Market, By Equipment Type

5.1. Articulated Dump Truck

5.2. Asphalt Finisher

5.3. Backhoe Loader

5.4. Crawler Dozer

5.5. Crawler Excavator

5.6. Crawler Loader

5.7. Mini Excavators

5.8. Motor Grader

5.9. Motor SCRaper

5.10. Road Roller

5.11. Rigid Dump Truck

5.12. RTLT-Masted

5.13. RTLT-Telescopic

5.14. Skid-Steer Loader

5.15. Wheeled Excavator

5.16. Wheeled Loader 80hp

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Construction Equipment Market by Type, Drivers, Challenges, Opportunities and Key Players Analysis