Compact Construction Equipment Market Value Might Exceed US$ 325.4 billion in Next Ten Years. FMI Reports Key Intelligence on the Market
North America and Western Europe will present steady growth in the compact construction equipment market over the upcoming years. The e-commerce and logistics industries in the U.K. have been experiencing significant growth, which, in turn, has increased the demand for warehouses
NEWARK, Del, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The compact construction equipment market is poised for substantial growth in the coming decade, with a projected *(CAGR) of 3.8%* from 2023 to 2033. This robust expansion is expected to propel the market to a staggering value of *US$ 325.4 billion* by 2033. This remarkable growth is underpinned by a combination of factors, including increasing urbanization, infrastructure development, and a growing emphasis on efficiency and productivity in construction projects.PPP mode of business, increased industry, house building, and higher spending on infrastructure development are contributing to this market growth.
The compact construction equipment market's growth is anticipated to be accelerated by the manufacturers' attitude toward modern technologies for producing cutting-edge equipment. Gaining substantial marketplace shares through consolidations and mergers remains a key strategy for global market players.
Businesses are upgrading older machinery into units familiar with advanced technologies like linked IoT, automation, etc. Moreover, to provide after-service to clients throughout the lifespan of their products, many businesses are stretching their activities beyond their traditional setup.
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*Key Takeaways from the Compact Construction Equipment Market:*
· The United States holds the lion's share of the total revenue generated by the market globally. Owing to the adoption of better environmental regulations. The United States compact construction equipment market is poised to grow promisingly through 2033.
· Germany is the leading country for producing and selling compact construction equipment in the European region. It is projected to retain its dominant position along with the growing demand for compact construction equipment in the United Kingdom.
· China is predicted to witness a higher growth rate in manufacturing and sales of compact construction equipment in the Asia Pacific. In contrast, Japan's share in the overall market is anticipated to decrease with the emergence of newly industrialized countries.
· With increasing public-private partnerships for industrialization and infrastructure development, the Indian market is growing remarkably.
· Given the strong demand for compact loaders from the construction industry, this segment is anticipated to retain its dominance through 2033."The compact construction equipment market is experiencing a significant surge in demand," the growth is largely attributed to the expansion of the Warehouse Robotics Market, where the need for versatile and space-efficient machinery is on the rise. As businesses increasingly invest in automation and streamlined warehouse operations, the compact construction equipment market is poised for substantial growth in the coming years." -says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
* Scope of the Report:*
*Attributes* Details
*Forecast Period* 2023 to 2033
*Historical Data Available for* 2018 to 2022
*Market Analysis* Units for Volume and US$ million for Value
*Key Segments Covered* · By Product Type
· By Power Output
· By Capacity
· By Application
· By End-user Verticals
· By Region
*Key Regions Covered* · North America
· Latin America
· Asia Pacific
· Japan
· Western Europe
· Eastern Europe
· The Middle East & Africa
*Key Countries Covered* United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa.
*Key Players Covered* · Caterpillar, Inc.
· CASE PVT Ltd.
· Mustang Inc.
· Charls Machine Works Inc.
· Gehl Co.
· Vermeer Manufacturing Co.
· King Manufacturing Company, Inc.
· Komatsu Ltd.
· JCB, Inc.
· Toyota Motor Corporation
· John Deere
· Hyster-Yale Group, Inc.
· Komatsu PVT Ltd.
· Sany Heavy Industries Co., Ltd.
· Hyundai Heavy Industries Co. Ltd.
· Volvo Group
· Xuzhou Construction Machinery Group
· Takeuchi Mfg. Co., Ltd.
· Wacker Neuson SE
· Kubota Corporation
· CNH Global N.V.
· All Seasons Vehicles Inc.
· Bobcat Co.
*Report Coverage* Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
*Customization & Pricing* Available upon Request
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*Compact Construction Equipment Market Segmentation:*
*By Product Type:*
· Track Loaders
· Excavators
· Backhoe Loaders
· Skid Steers
· Wheel Loaders
· Telehandlers
· Others*By Power Output:*
· Less than 100 HP
· 101 HP to 200 HP
· 201HP to 400 HP
· More than 400 HP
*By Engine Capacity:*
· Less than 5L
· 5L to 10L
· More than 10L*By Application:*
· Loading
· Excavation
· Materials Handling
· Lifting & Hoisting
· Other Applications*By End-user Verticals:*
· Metals & Mining
· Construction & Real Estate
· Agriculture
· Other End Users
*By Region:*
· North America Market
· Latin America Market
· Europe Market
· East Asia Market
· South Asia and Pacific Market
· The Middle East and Africa (MEA) Market
*Author By:*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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*About Future Market Insights (FMI):*
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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