Germany Used Construction Equipment Market Analysis Report 2022-2028 Political Distress & War Between Russia & Ukraine Drive the Demand for Used Construction Equipment
Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe , Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA . The global heavy construction equipment market size was valued at $176.2 billion in 2020, and is projected to reach $273.5 billion by 2030, registering a CAGR of 4.4% from 2021 to 2030. Heavy construction equipment or machineries are used for heavy operations tasks such as material handling, excavation, lifting and other heavy operations. Commercial, residential and industrial sectors as well as increased public–private partnerships and global economic growth, are driving the heavy construction equipment market.
- Komatsu promotes used equipment by extending the warranty program Komatsu Advantage Extended Coverage Plan for used equipment, reducing maintenance charges.
- This, along with the opinions of in-house subject matter experts, has led to the findings delineated in the rest of this report.
- In addition, there is an imminent need for infrastructural development in various developing countries, which is creating a high demand for construction equipment.
- The power and precision of technologically advanced machinery can be experienced by the manufacturers along with cost saving.
- Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Asia Pacific was the leading regional segment of the Construction Equipment in 2022. The prominent players in the market are AB VOLVO, Caterpillar INC., CNH Industrial N.V., DEERE & COMPANY, DOOSAN INFRACORE CO. LTD., Hitachi Ltd., J C Bamford Excavators LTD., KOMATSU LTD., Liebherr-International AG, XCMG GROUP. He European Commission has planned to invest about $340 billion by 2027 in infrastructure, digital, and climate projects. Liebherr Group, Volvo CE, CNH Industrial NV, JCB , Wirtgen Group are the major companies operating in Europe Construction Equipment Market.
Heavy Industry & Manufacturing
In 2018, Caterpillar joined hands with Fisker to develop solid-state batteries designed to outperform Li-ion batteries. In the initial times, electric vehicles were working on lead-acid and nickel-metal hydride batteries. But now, electric off-highway vehicles are largely equipped with lithium-ion batteries due to their numerous advantages over lead-acid and nickel-metal hydride batteries.
Furthermore, road building and earthmoving equipment segments are expected to show progressive demand as the investments for industrial and commercial construction projects are rising https://mediaanthrointurkey.org in developing countries such as China and India. In the European construction & material handling machinery market, earthmoving machinery held around 45% market share in 2021.