Building And Road Construction Equipment Global Market Report 2021: COVID 19 Impact And Recovery To 2030
The Business Research Company’s Building And Road Construction Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, March 3, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Read More On The Global Building And Road Construction Equipment Market Report:
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Infrastructure development in emerging and developed countries propels 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 needs, meet the levels of urbanization, and increase connectivity by developing highways and express ways. For instance, the total Indian investment in road construction was worth $22.4 billion in 2018-19 with private investment accounting for 14% of the total investments. 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, 14% higher from H1 levels in 2018. 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, which acts as a major driver for the building and road construction equipment market’s growth.
The building and road construction equipment market consist of sales of building and road construction equipment by entities (organizations, sole traders or partnerships) that are engaged in manufacturing building and road construction machinery and equipment such as road roller machine, asphalt mixing plant, forklift truck, crawler excavator, truck crane, and others.
The building and road construction machinery market covered in this report is segmented by product type into motor graders, road roller, wheel loaders, concrete mixer, bulldozers, others, by application into building construction, road construction.
The global building & road construction equipment market is expected to grow from $37.65 billion in 2020 to $41.67 billion in 2021 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $57.88 billion in 2025 at a CAGR of 8.6%.
The major players covered in the building and construction industry are AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd., Terex Corporation, The Atlas Copco Group, Deere & Company, Sany Group, Wacker Neuson, CNH Industrial NV.
Building And Road Construction Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides building and road construction equipment market overview, forecast building and road construction equipment market size and growth for the whole market, building and road construction equipment market segments, and geographies, building and road construction equipment market trends, building and road construction equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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