U.S. Heavy Duty Construction Equipment Market
The U.S. heavy duty construction equipment market has been witnessing steady growth over the past few years. Construction equipment refers to heavy- duty vehicles, specially designed for civil engineering and construction purposes. Some key heavy duty equipment used in construction activities includes excavators, loaders, backhoes, dozers, graders, scrapers, compactors, cranes and others. Growth in infrastructure projects related to roads, bridges, dams, airports and commercial buildings has significantly driven the demand for construction equipment such as earthmovers, material handlers and cranes. Furthermore, rapid urbanization and growth of residential and commercial construction have also propelled the need for heavy machinery that can efficiently complete projects within tight timelines. The entry of several new players in the market has intensified competition and pushed companies to focus on production of fuel-efficient and technologically advanced heavy equipment.
Market Dynamics:
The U.S. heavy duty construction equipment market has been experiencing steady growth owing to various driver such as growing investments in public infrastructure projects, increasing residential and commercial construction activities, and rapid urbanization. However, high initial purchase and operational costs associated with heavy duty machines continue to restraint market growth to some extent. Meanwhile, developments around connected equipment, autonomous machinery, and hybrid-electric technologies present lucrative opportunities for heavy equipment manufacturers to tap into. Adoption of alternative fuel such as CNG and LPG compatible equipment as well as development of equipment for renewable energy projects also offer new prospects. But fluctuations in crude oil prices and trade policies continue to pose challenges.
Key Features of the Study:
- This report provides in-depth analysis of the U.S. heavy duty construction equipment market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the U.S. heavy duty construction equipment market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include AB Volvo, Atlas Copco, Caterpillar, Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore, Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Americas, Inc., JCB, Kobelco, Komatsu, Liebherr Group, SANY Group Company Ltd., Volvo Construction Equipment, and XCMG
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global U.S. heavy duty construction equipment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global U.S. heavy duty construction equipment market.
Detailed Segmentation:
Detailed Segmentation:
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