Latest News- Construction Machinery Market: Commercial is expected to lead the Application segment during 2025-2029

The Construction Machinery Market is being driven by Increased investment in infrastructure

The Construction Machinery Market is expected to grow at a CAGR of 3.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 39.8 billion. In the aftermath of the financial crisis, mining and construction firms have had to prioritize efficiency and adaptability to thrive in the evolving global economic landscape. Purchasing expensive construction machinery, such as tracked excavators, poses a significant initial investment challenge for these companies, particularly for smaller-scale or short-term projects. To mitigate this issue, firms have increasingly opted for machinery rental services. This cost-effective solution allows them to access necessary equipment only when required, thereby saving on capital expenditures and associated maintenance costs. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Commercial
  • Residential
  • Infrastructure
• Product
  • Earthmoving machinery
  • Material handling machinery
  • Concrete and road construction machinery
  • Others
• End-user
  • Public works
  • Mining
  • Oil and gas
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased investment in infrastructure
• Expanding manufacturing and distribution facilities
• New product launches

However, the market also witnesses some limitations, which are as follows:

• Growing secondhand machine industry
• Stringent regulations
• Lack of workforce in construction industry

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Market Scope in Construction Machinery Market Research Report

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Research Analysis Overview

The Construction Machinery Market encompasses a range of equipment including hydraulic excavators, compact excavators, crawler tractors, motor graders, concrete pumps, batch plants, drilling equipment, compaction equipment, material spreaders, soil stabilizers, rebar benders, welding equipment, construction software, VR and AR technology, 3D printing, additive manufacturing, autonomous machines, remote operation, wearable tech, construction robots, smart construction, sustainable materials, recycled materials, biodegradable materials, carbon fiber, and composite materials. These innovations are transforming the construction industry by increasing efficiency, reducing waste, and improving safety.

Market Research Overview

According to Technavio, the construction machinery and heavy transportation equipment market encompasses a range of product segments, including heavy-duty trucks, compact earthmoving equipment, road construction and compaction machinery, crushing and screening equipment, concrete equipment, civil engineering equipment, lifting equipment, and related technologies. Factors fueling the expansion of this market include the escalating urbanization trend, resulting in substantial investments in construction projects, and the ensuing demand for residential properties, such as single-family homes and multi-family dwellings. Backhoe loaders, crawler cranes, wheel loaders, concrete mixers, asphalt pavers, dumper trucks, and skid steer loaders are integral components of this market, catering to diverse construction needs.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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