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CHICAGO , July 29, 2022 /PRNewswire/ -- Construction Equipment Market is projected to grow from USD 208.3 billion in 2021 to USD 250.4 billion by 2026, at a CAGR of 3.8% during the forecast period, according to a new report by MarketsandMarkets™. The growth of this market is fueled by increase in infrastructure investments post-COVID-19 pandemic and developments such as OEM-centric connected features. Also, growing stringency in upcoming emission regulations leading to electric and autonomous construction equipment would also drive the market for construction equipment.

Browse in-depth TOC on "Construction Equipment Market" 435 – Tables 65 – Figures          417 – Pages

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Wheeled Loader> 80HP segment is estimated to be the largest market during the forecast period

By equipment type, the wheeled loader >80 HP segment is estimated to dominate the Construction Equipment Market in 2021. This equipment is used primarily to load/unload and bulk material movement in construction, quarry, and crushers. They are widely used in large scales infrastructure projects such as roads and highways, railways, dams, ports, and airports. An increase in roadways and residential buildings in China and India is driving the demand for this equipment. Government initiatives in infrastructure development have further anticipated the demand for wheeled loaders.

The 100-200HP segment is projected to be the largest market during the forecast period

Construction equipment with this power output allows manufacturers to improve machine capability and downsize the engine to one of lower displacement. This reduces maintenance costs and improves fuel economy and better component layout. Construction equipment with a power output range between 100-200 HP is primarily suitable for road, airport construction projects, and commercial projects.

Earthmoving Equipment segment to hold the largest market share during the forecast period

Most earthmoving equipment uses hydraulic drives as the primary source of motion. Excavators (crawler and wheeled), loaders (backhoe, skid-steer), and motor grader are considered under earthmoving equipment. This equipment is designed for construction activities. Asia is projected to account for the largest share of the earthmoving equipment market in terms of value by 2026. The increasing urban population and the demand for better infrastructure facilities are creating significant growth opportunities for the earthmoving construction equipment.

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Asia-Pacific : Largest market for the Construction Equipment Market

Asia Pacific is expected to have the largest market share in terms of value and volume.  The Construction Equipment Market has experienced growth in terms of the number of projects such as dams, airports, and hydroelectric projects, because of which many international companies have started their manufacturing plants in this region. Some of the man-made marvels and remarkable construction projects such as the Beijing New International Airport (China ) and South to North Water Transfer Project (China ) are set up in the region. The region is estimated to be the most populated in the world, which creates immense opportunity for the Construction Equipment Market to grow.

The global Construction Equipment Market is dominated by global players such as Caterpillar Inc. (US), Komatsu Ltd. (Japan ), Xuzhou Construction Machinery Group (XCMG) (China ), Sany Heavy Industries (China ), and Zoomlion (China ). These companies develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in the market.

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