United States (US) Construction Equipment Market Overview, 2027

"The American market for construction equipment is a significant part of the country's booming economy, serving as a crucial industry that promotes infrastructural growth, fosters economic expansion, and defines the built environment. The US construction sector is renowned for its expansive and varied landscapes, ambitious construction projects, and technical developments. It embodies a special blend of creativity, efficiency, and adaptability. The American market for construction equipment is distinguished by its enormous size and complexity, and it covers a wide variety of endeavours, including residential, commercial, industrial, transportation, and civil engineering projects. The US construction industry meets the diversified needs of an expanding population and the requirements of an increasingly networked society by building famous buildings, extensive transportation networks, energy facilities, and public infrastructure. According to the report, ""United States (US) Construction Equipment Market Overview, 2027,"" published by Bonafide Research, the market is anticipated to witness prominent market growth during the upcoming timeframe. One of the key drivers of the US construction equipment market is the government's focus on infrastructure investment and urban development. Initiatives such as the Build Back Better Plan, the American Jobs Plan, and the FAST Act have spurred significant investments in transportation, renewable energy, broadband, and modernizing public infrastructure across the country. These initiatives have created a robust demand for construction equipment, driving market growth and contributing to economic revitalization. The US market for construction equipment benefits from a highly skilled labour force and a reliable supply chain of producers, suppliers, and rental businesses. A trained and diversified workforce, comprising engineers, tradesmen, and construction professionals, is produced by the nation's renowned technical institutes, universities, and apprenticeship programmes. These workers are equipped with the knowledge necessary to complete challenging projects to the highest standards. Domestic producers like Caterpillar, Deere & Company, and Terex Corporation have made significant inroads into the market, and foreign producers like Komatsu and Hitachi Construction Machinery also make a contribution by offering a wide range of construction equipment and solutions.

The American construction equipment industry enjoys a competitive environment with a number of major competitors who have risen to prominence via innovation, dependability, and a wide range of product offerings. Industry players with a sizable market share and a reputation for producing top-notch construction equipment include Caterpillar Inc., Komatsu Ltd., John Deere & Company, Volvo Construction Equipment, and Hitachi Construction Machinery Co., Ltd. The demand for machines that are cost-effective, with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones across the country. Further, the construction industry is getting smarter. Digitalization, connectivity, and automation are driving development forward, having a substantial impact on construction projects. According to the report, the market is segmented into three types of applications, including earth moving machinery, material handling machinery, and concrete and road construction machinery. Among these types, earth moving machinery is anticipated to acquire higher market growth during the forecast period. Excavators, loaders, dozers, and motor graders are considered part of the earth-moving machinery segment. Among them, excavators and loaders are leading the market in 2021. Further, dumpers, cranes, telescopic handlers, and forklifts are considered part of material handling machinery. Among these types, dumpers and cranes are projected to dominate the overall market. On the other hand, cement/transit mixers, compactors & road rollers, and pavers/asphalt finishers are considered under the concrete & road construction machinery segment. Among them, cement/transit mixer is leading the market in 2021. COVID-19 Impacts: The United States (US) construction equipment market was hit hardest in the first three quarters of 2020 due to the significant spread of COVID-19. Governments across the country accepted strict safety measures, including lockdown, to contain the virus. This lockdown resulted in the temporary suspension of construction activities, the shutdown of construction equipment manufacturing facilities, and disturbances in imports and exports. However, changes in consumer preference and increasing industrialization across the country are anticipated to propel higher market growth during the forecast period.

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Manmayi Raval

Research Consultant

Considered In the Report • Geography: United States (US) • Base year: 2021 • Historical year: 2016 • Estimated year: 2022 • Forecasted year: 2027 Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2021-2027) • Market Share by Application (2016, 2021 & 2027F) • Market Share by Equipment (2016, 2021 & 2027F) Segments covered in the Report By Application • Earth Moving Machinery • Material Handling Machinery • Concrete and road construction Machinery • Other Machinery

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By Earth Moving Machinery • Excavators • Loaders • Dozers • Motor Graders By Material Handling Machinery • Dumper /Dump Truck/ Tippers • Cranes (Tower Crane, Mobile Crane) • Telescopic Handlers • Forklift By Concrete and Road Construction Machinery • Cement/Transit mixers • Compactors & Road Rollers • Pavers/Asphalt Finishers • Others The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modelling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. "