Heavy Construction Vehicles Market | Business Strategy , Growth, Opportunities And Forecast 2027

Heavy Construction Vehicles Market Overview:

For the global industry’s Heavy Construction Vehicles market analysis, a research team did thorough primary and secondary research. Secondary research was carried out in order to enhance the existing data, segment the market, estimate overall market size, predict market size, and growth rate.

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Global Heavy Construction Vehicles Market size was valued at US$ 67.38 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 3.46% through 2021 to 2027, reaching nearly US$ 85.49 Bn.

Market Scope:                  

Our crew gathers market information and data from a variety of sources in order to present a more accurate regional view. The country-level analysis of the study is based on an examination of numerous regional stakeholders, regional tax laws and policies, consumer behaviour, and macroeconomic data.

Drivers:

The heavy construction vehicles market is showing northward direction growth in the modern construction industry, thanks to factors such as geographical expansion, rapid urbanization, an adaptation of advanced vehicles, and investment in the construction and manufacturing industry. About 60% of construction companies across the globe have R&D departments for new technology, which is expected to drive market growth during the forecast period.

Segmentation:

Based on the Product Type, the market is segmented into Dump Trucks, Bulldozers, Loaders, Graders, Dozers, and Others. The Loaders segment held the largest market value of US $ 16.90 Billion in 2020 and is expected to grow with a CAGR of 3.5% during the forecast period. The Loaders are used to load materials into moving vehicles at mining and construction sites. Having held a 45.8% market share in 2020, the Asia Pacific region is expected to grow quickly over the coming years.

Based on Application, the market is segmented into Construction, Mining, Material Handling, and others. The Construction segment has dominated the Heavy Construction Vehicles Market and held 62.89% of the global market share in 2020. Developed and developing countries like China and India are the largest demand generating countries due to massive national highway construction projects, smart city infrastructure development, and waterway connection projects in respective countries.

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Key Players: The key players are

• Volvo Construction Equipment
• Hitachi Construction Equipment
• Sany Group
• Liebherr
• Caterpiller INC
• Komatsu Ltd.
• Ojsc Belaz
• Deere & Company
• Zoomilion
• Shandong Shantui Construction Machinery Imp&Exp Co
• CNH Industries
• Guangxi Liugong Machinery Co. Ltd

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Regional Analysis:

A country-level study of the Heavy Construction Vehicles Market focuses on segments identified as potentially high-growth, countries with the biggest market share, and nations with the greatest development potential. North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and other nations are the geographical breakdowns in the Heavy Construction Vehicles Market study.

COVID-19 Impact Analysis on Heavy Construction Vehicles Market: The report covers COVID-19 impact on Heavy Construction Vehicles market.

Key Questions Answered in the Heavy Construction Vehicles Market Report are:

  • What will be the CAGR of the Heavy Construction Vehicles market during the forecast period?
  • Which segment emerged as the leading segment in the Heavy Construction Vehicles market?
  • Which are the prominent players in the Heavy Construction Vehicles market?
  • What will be the Heavy Construction Vehicles market size by 2027?
  • Which company held the largest share in the Heavy Construction Vehicles market?

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