Feb 15, 2023   SOURCE: BusinessWire

Worldwide Concrete & Road Construction Machinery Industry to 2027: Demand for this Type of Machinery has been Growing with the Increasing Need for Better Land Connectivity - ResearchAndMarkets.com

The "Global Concrete & Road Construction Machinery Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.

As per this report the global market for concrete and road construction equipment was recorded at USD 28 billion in the year 2021, and is expected to grow by more than 7.5% in the forecast period.

Company Profiles

  • Caterpillar Private Limited
  • Hitachi Construction Machinery Co. Ltd
  • J C Bamford Excavators Ltd
  • John Deere Ltd
  • Komatsu Ltd.
  • Liebherr Group
  • Sany Group
  • Terex Corporation
  • Volvo Construction Equipment
  • XCMG Ltd.
  • Zoomlion Co. Ltd.

The key companies are spending more on R&D to produce more compact designs loaded with many features, providing great value for the money. The buyers seek more technologically advanced equipment with more fuel efficiency and with less human involvement during the process.

Concrete and road construction equipment are majorly used in mixing various ingredients and transportation of the same. For many decades, the use of concrete and stones has been popular among road building materials due to their high durability and resistance to extreme weather conditions.

The demand for this type of machinery has been in a growing pattern with the increasing need for better land connectivity among the cities and the nations, which in turn is to offer better support to the economy. Infrastructure development in emerging and developed countries has propelled the building and road construction equipment market.

Emerging and developed countries' governments and private sectors are focusing on developing the infrastructure to keep up the GDP, meet the growing population's needs, meet the levels of urbanization, and increase connectivity by developing highways and expressways.

This segment of construction machinery is seen as a potentially growing market with expectations to cover more than 20% by the end of the forecast period. The most commonly used equipment in this segment is the cement mixer, which is seen to be showing a declining market share due to its limited usage in construction sites.

The asphalt finisher is expected to grow at the highest CAGR among the equipment in the market. Road transportation has gradually increased over the years with an improvement in connectivity between cities, towns, and villages in the country.

The main product types of building and road construction equipment are motor graders, road rollers, wheel loaders, concrete mixers, bulldozers, and other product types. Motor graders are being used to finish grade the rough grading performed by heavy construction equipment like scrapers and bulldozers. The equipment categories are earthmoving equipment, material-handling equipment, heavy construction vehicles, and other equipment categories. The various applications involved are building construction and road construction.

For instance, the total Indian investment in road construction was worth $22.4 billion, with private investment accounting for 14% of the total investment. Furthermore, according to the World Bank, the private sector infrastructure investment commitments for various sectors amounted to $96.7 billion in 2019 globally.

The private participation infrastructure (PPI) investment in H1 was valued at $49.8 billion in 2019. Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time-consuming. That further acts as a major driver for the building and road construction equipment market growth.

The major manufacturing companies in building and road construction equipment are concentrating on upgrading their technologies. The technology advancements aim to increase safety, productivity, and connectivity of equipment and decrease maintenance issues and costs.

The growing number of smart cities will be one of the major factors that will have a positive impact on the growth of the market for concrete and road construction equipment. This will draw a large population to the urban areas and major metropolitan cities, which will increase the congestion in the cities. The increasing urban population has put a strain on existing urban services, such as public transport and road networks.

This has led to an increase in the number of smart cities to accommodate the increasing urban population. The majority of road networks in these smart cities are expected to have concrete paved roads since they can reduce the fuel consumption of vehicles. This will, in turn, fuel the market's growth prospects in the coming years.

Considered In the Report

  • Geography: Global
  • Base year: 2021
  • Historical year: 2016
  • Estimated year: 2022
  • Forecasted year: 2027

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Market Structure

3.1. Market Considerate

3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Construction Equipment Market Outlook

6. Global Earth Moving Machinery Market Outlook

7. Global Material Handling Machinery Market Outlook

8. Global Concrete and Road Construction Machinery Market Outlook

9. North America Concrete and Road Construction Machinery Market Outlook

10. Europe Concrete and Road Construction Machinery Market Outlook

11. Asia-Pacific Concrete and Road Construction Machinery Market Outlook

12. South America Concrete and Road Construction Machinery Market Outlook

13. Middle East & Africa Concrete and Road Construction Machinery Market Outlook

14. Market Dynamics

14.1. Market Drivers

14.2. Market Challenges

15. Market Trends and Developments

16. Company Profiles

17. Strategic Recommendations

18. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/cbgntx-concrete?w=4

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