Compact Construction Equipment Industry was valued at USD 4.31 Billion in the year 2017. Global Compact Construction Equipment Industry is further estimated to grow at a CAGR of 5.1% from 2019 to reach USD 6.40 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Europe Industry is considered as the fastest growing Industry in the forecasted period due to growing demand for recycling products and technological advancements. At a country level, the U.S. & Canada is projected to grow strongly in the coming years.
Major market players in Construction Equipment Industry are AB Volvo, Hyundai Heavy Industries Co. LTD., Caterpillar Inc., Deere & Company, Komatsu Ltd., J C Bamford Excavators Ltd., Manitou BF, S.A. (Mustang), Sany Group, XCMG Group, King Machinery, and brief overview of 11 companies is also provided in the report. Better global reach at an operational level is the main reason the key players are holding substantial Industry share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
SWOT Analysis of Construction Equipment Industry:
Light weight and easy to transport and operate
Benefits associated with using compact equipment’s
Lack of skilled operators
Stringent regulations & fluctuating fuel prices
Highly growing Investment in infrastructure projects globally
Innovation in technology
Low entry barriers
Lack of structure
The segmentation is done on the basis of equipment Type, by end-user industry, by application, and by region. On the basis of equipment type, the global Compact Construction Equipment Industry is sub segmented as backhoe loaders, excavators, skid steer loaders, track loaders, telehandlers and others of which the backhoe loaders segment is expected to hold the highest CAGR during the forecast period.
Construction Equipment Industry Segmentation:
By End-User Industry
• Metals & Mining
• Material Handling
• Lifting & Hosting
• Backhoe Loaders
• Skid Steer Loaders
• Track Loaders
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa