Heavy Construction Equipment Market to Reach $240.49 Bn, Globally, by 2027 at 4.2% CAGR: Allied Market Research
Increase in investment in the construction sector, surge in focus on public-private partnerships, and rapid expansion of the mining sector have boosted the growth of the global heavy construction equipment market.
- Increase in investment in the construction sector, surge in focus on public-private partnerships, and rapid expansion of the mining sector have boosted the growth of the global heavy construction equipment market.
- Based on type, the earthmoving segment held the largest share in 2019, accounting for more than half of the global heavy construction equipment market.
- However, the construction segment held the largest share in 2019, contributing to more than two-fifths of the global heavy construction equipment market as heavy equipment including excavators, loaders, and motor graders are essential components in construction activities.
- The global heavy construction equipment market across the Asia-Pacific region held the largest share in 2019, accounting for more than two-fifths of the market.