Heavy Construction Equipment Market: Size, Share, and Growth

(EstateNewsWire.com, October 05, 2023 ) The report "Heavy Construction Equipment Market by Machinery Type (Earthmoving equipment, Material Handling Equipment, Heavy Construction Vehicles), Propulsion Type (Diesel, CNG/LNG/RNG, Electric), Engine Capacity, End-Use Industry & Region-Global Forecast to 2028", is estimated to grow from USD 190.3 billion in 2022 to reach USD 252.4 billion by 2028, at a CAGR of 4.8%. The increasing use of Heavy Construction Equipment in the mining and construction industry is one of the most significant factors projected to drive the growth of the Heavy Construction Equipment market.

Browse in-depth TOC on "Heavy Construction Equipment Market”

411 - Market Data Tables

71 - Figures

356 - Pages

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1211

Earthmoving equipment segment to grow at a significant rate in Heavy Construction Equipment, in terms of value.

Globally, earthmoving equipment accounted for the largest share as this type of heavy construction equipment, which is majorly utilized in various high-end applications such as excavation and loading of materials at the source point for mining activities. Earthmoving equipment covers a broad range of machines that can excavate and grade soil and rock, along with other construction tasks. Most earthmoving equipment uses hydraulic drives as the primary source of motion. Excavators (crawler and wheeled), loaders (backhoe, skid-steer), and motor graders are considered under earthmoving equipment.

Diesel segment to grow at a significant rate in Heavy Construction Equipment, in terms of value.

Globally, the diesel propulsion typesegment accounted for the largest share as this type of heavy construction equipment is majorly utilized in various high-end applications majorly due to its ability to produce high torque and its reliability. Construction equipment requires high torque from the engine to move heavy loads. As a fuel, diesel is denser than gasoline. A gallon of diesel fuel produces roughly 11% more energy than a gallon of gasoline, 67% more than a gallon of LNG, and 250% more than a gallon of CNG. Diesel combusts at a slower rate than gasoline and is also more fuel-efficient. Diesel produces more torque at a lower speed compared with other fuels.

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1211

Material Handling application segment to grow at a significant rate in Heavy Construction Equipment, in terms of value.

The material handling segment accounted for the largest share in terms of value, in the global heavy construction equipment market, in 2022. The main objective of heavy construction equipment in material handling applications is to ensure proper handling, lifting & offloading of material. Proper Material handling equipment are is widely popular in all industries like such as chemical, aerospace, construction, infrastructure, mining, manufacturing, oil & gas, and petrochemical, etc. Cranes and telescopic handlers are largely primarily used for material handling applications.

Don't miss out on business opportunities in Heavy Construction Equipment Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1211

Automotive industry to be the fastest-growing end-use industry segment in the global Heavy Construction Equipment market in terms of value.

The mining segment accounted for the largest share in terms of value, in the global heavy construction equipment market, by end-use industry, in 2022, as the global demand for consumer products are surging and is driven by the increase in purchasing power of the population. This surge in demand has boosted the increased mining activities across the globe. This has improved the usage of heavy construction equipment in the market. Mining is the primary economic activity of obtaining minerals and rare earth metals from the ground. Continuous demand for minerals and rare earth metals has driven the expansion of this industry, playing a vital role in encouraging mining equipment companies to offer technologically advanced equipment, which helps in performing better mining operations that include drilling, crushing, and demolition. Crawler excavators, crawler dozers, motor graders, articulated dump trucks, rigid dump trucks, wheeled loaders, and and mining trucks, among others, are used for the mining industry.

Asia Pacific continuous to be the largest market in the global Heavy Construction Equipment market in terms of value.

Asia Pacific is projected to be the largest market for heavy construction equipment used in commercial buildings due to the large number of construction projects and increasing demand for advanced technology equipment with improved efficiency. Electrification in heavy construction equipment is expected to grow increase with the growing adoption of construction equipment like such as mini excavators and compact/skid loaders with due to R&D to enhance the battery capacity. AB Volvo (Sweden) and Hitachi Construction Machinery Co., Ltd. (Japan) offer cable-connected electric construction equipment, where charging limitations are reduced. Thus, heavy construction equipment that requires more power to operate currently works on hybrid-electric technology. The major hybrid-electric construction equipment includes dozers and mine dump trucks.

The major players active in the heavy construction equipment market are Caterpillar (US), Liebherr AG (Germany), Terex Corporation (US), Volvo Group (Sweden), Komatsu (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), SANY Heavy Industry Co., Ltd. (China), HD Hyundai (South Korea), XCMG Group (China), CNH Industrial N.V. (UK), and J C Bamford Excavators Ltd (UK), among others.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com