According to recent reports, the global Construction Equipment industry is anticipated to reach USD 162.4 Billion by 2027, growing at a CAGR of 2.8 percent during the forecast period. Major factors fuelling the growth of this market include the increase in public-private partnerships, a rise in industrial, residential, and commercial market activities, and an increase in government investments in infrastructure developments. Top players in the Construction Equipment industry are investing hugely in the R&D activities for up-gradation of the equipment with an aim to offer efficient equipment for various industries and end-users.
The ongoing shift from traditional equipment to automated ones are one of the significant market trends that have been observed in this industry since customers are looking to retrofit and renovate the old technology. Intending to increase productivity across the construction industry and achieve efficiency, the strong players are hugely investing in the invention of advanced technologies to implement in developing new construction equipment.
Rentals services offered by Construction Equipment companies are gaining huge traction these days since the local and regional SMEs prefer rental service business in order to establish themselves. Large construction firms are engaged primarily in various industries such as the general infrastructure, oil and gas, utility and electrical, and commercial and residential sectors to earn higher profits.
In this issue, Industry Outlook brings to you the list of Top 10 International Construction Equipment Manufacturers - 2020 who have made their mark in this domain with their innovative product offerings and industry expertise. Having proven their dedication to quality and end-to-end addressal of customers, these companies have stood out from other players in this segment.
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