Smart Construction Equipment Market Trends and Forecast
The future of the smart construction equipment market looks promising with opportunities in the residential, commercial, and infrastructure sectors. The global smart construction equipment market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are increasing construction and infrastructure investments, adoption of advanced construction equipment and rising adoption of technologically advanced construction machinery.
Emerging Trends in the Smart Construction Equipment Market
Emerging trends, which have a direct impact on the dynamics of the industry, include rapid industrialization, urbanization, and emergence of construction equipment rental services.
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Smart Construction Equipment Market by Segment
The study includes trends and forecast for the global smart construction equipment market by equipment type, application, and region, as follows:
Smart Construction Equipment Market by Equipment Type [Value ($B) Shipment Analysis from 2017 to 2028]:
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Earthmoving Equipment
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Material Handling Equipment & Cranes
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Concrete
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Road Building
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Civil Engineering
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Crushing & Screening
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Others
Smart Construction Equipment Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
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Residential
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Commercial
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Infrastructure
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Others
Smart Construction Equipment Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
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North America
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Europe
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Asia Pacific
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The Rest of the World
List of Smart Construction Equipment Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart construction equipment companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart construction equipment companies profiled in this report include-
Smart Construction Equipment Market Insights
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Lucintel forecasts that material handling equipment & cranes will remain the largest segment over the forecast period due to the rising infrastructure projects worldwide and increasing urban population.
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Within this market, residential is expected to remain the largest segment due to the growing number of housing projects in the emerging nations and increasing construction activities in response to rapid urbanisation.
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North America will remain the largest region due to government initiatives for infrastructure development, presence of established market leaders, and low interest rate loans to procure construction equipment in the region.
Features of the Smart Construction Equipment Market
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Market Size Estimates: Smart construction equipment market size estimation in terms of value ($B)
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Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
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Segmentation Analysis: Smart construction equipment market size by various segments, such as by application, end use industry, and region
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Regional Analysis: Smart construction equipment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
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Growth Opportunities: Analysis on growth opportunities in different by application, end use industry, and regions for the smart construction equipment market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart construction equipment market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the smart construction equipment market size?
Answer: The global smart construction equipment market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for smart construction equipment market?
Answer: The global smart construction equipment market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the smart construction equipment market?
Answer: The major drivers for this market are increasing construction and infrastructure investments, adoption of advanced construction equipment, and rising adoption of technologically advanced construction machinery.
Q4. What are the major segments for smart construction equipment market?
Answer: The future of the smart construction equipment market looks promising with opportunities in the residential, commercial, industrial and other markets.
Q5. What are the emerging trends in smart construction equipment market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include rapid industrialization, urbanization, and emergence of construction equipment rental services.
Q6. Who are the key smart construction equipment companies?
Answer: Some of the key smart construction equipment companies are as follows:
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Caterpillar
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Komatsu
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Deere
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Volvo Construction Equipment
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SANY Group Company Ltd.
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Hitachi Construction Machinery
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Doosan
Q7. Which smart construction equipment segment will be the largest in future?
Answer: Lucintel forecasts that material handling equipment & cranes will remain the largest segment over the forecast period due to the rising infrastructure projects worldwide and increasing urban population.
Q8. In smart construction equipment market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to government initiatives for infrastructure development, presence of established market leaders, and low interest rate loans to procure construction equipment in the region.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the smart construction equipment market by equipment type (earthmoving, material handling equipment & cranes, concrete, road building, civil engineering, crushing & screening, and others), application (residential, commercial, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and what has been the impact on the industry?
For any questions related to smart construction equipment market or related to smart construction equipment companies, smart construction equipment market size, smart construction equipment market share, smart construction equipment analysis, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.