(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 15, 2021 (GLOBE NEWSWIRE) -- The "North America Heavy-Duty Construction Equipment Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The North America heavy-duty construction equipment market is projected to grow at a modest CAGR of 7% during the forecast period (2021-2027).
The key aspect that drives the growth of the market includes the rapid growth in construction along with the growth in the manufacturing, mining, oil & gas industries across the region.
Major infrastructure projects such as Gordie Howe International Bridge Canada, Purple Line Maryland, I-4 Ultimate Florida, Central 70 Colorado, SH 99 Grand Parkway Segments F1, F2, G Texas among many others, are also spurring demand.
Further, there has also been an increase in airport development activities, which is further likely to enhance the demand for heavy-duty construction equipment in the North American region.
Market Segmentation Highlights
The North America heavy-duty construction equipment market is segmented on the basis of machinery type, application, industry, and geography.
Based on the machinery type, the market is segmented as earth moving equipment, material handling equipment, and other construction equipment. The earth moving equipment segment includes cranes, loader & backhoe, telescopic handlers, excavators, and others. The material handling equipment segment includes hoists, conveyors, forklifts, and others. The other construction equipment includes concrete mixers, road rollers, stone crushers, dumpers, tippers & trailers, and others. The material handling equipment segment is estimated to hold a lucrative share in the market.
Based on the applications, the market is segmented as excavation & demolition, heavy lifting, handling, transportation, recycling & waste management, and others. The heavy lifting and transportation segment are likely to hold a significant market share.
Based on the industry, the market is segmented as construction & infrastructure, manufacturing, mining, and others (oil & gas). The construction & infrastructure segment is estimated to hold a lucrative share in the market.
Based on geography, the market is segmented into the US and Canada. The US is likely to hold a substantial share in the North America market over the forecast period.
Competitive Landscape
Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., and Kobelco Construction Machinery Co. Ltd. among others are some of the prominent players functioning in North America heavy-duty construction equipment market.
New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players in order to sustain in the highly competitive market.
Scope of the Report
- A comprehensive research methodology of the North America heavy-duty construction equipment market.
- A detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North America Heavy-Duty Construction Equipment market.
- Insights about market determinants which are stimulating the North America heavy-duty construction equipment market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of the market players.
Companies Profiled (A-Z)
- ASTEC Industries Inc.
- Caterpillar Inc.
- Deere & Co.
- Hitachi Construction Machinery Co. Ltd.
- Hyundai Heavy Industries Co. Ltd.
- Komatsu Ltd.
- Liebherr Group
- Metso Corp.
- Sumitomo Heavy Industries Ltd.
- Terex Corp.
- The Manitowoc Co. Inc.
- Volvo Group
- Wirtgen Group
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Tags Construction Machinery Concrete Mixer Construction Equipment Crusher Heavy Machinery Tipper Tippers
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