May 19TH,2022/IndustryNewsGlobal/ -- This new report from Stratview Research analyses the Construction Equipment Market over the trend period from 2014 to 2019 and forecast period from 2022 to 2027. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Construction Equipment Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Construction Equipment Market is no different. Derived from the previous market scenario, the Construction Equipment Market is likely to witness a CAGR of 4.9% during the forecast period.
The Construction Equipment Marketis segmented by–
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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.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
The earthmoving and road-building equipment segment is expected to remain dominant in the construction equipment market in the next five year.
Asia-pacific is expected to be the leading construction equipment market during the forecast period.