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Earthmoving Equipment Market Trends

Report ID: GMI408
Published Date: Aug 2023
Report Format: PDF

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Earthmoving Equipment Market Trends

Current trends in the earthmoving equipment market indicate a shift towards electric and hybrid machinery, driven by the need for reduced emissions and improved fuel efficiency. The integration of IoT and data analytics is becoming more prevalent, enabling real-time monitoring, predictive maintenance, and better operational insights. Rental and leasing services are gaining popularity, allowing construction companies to access the latest equipment without significant upfront costs. Moreover, the focus on ergonomic design and operator comfort is enhancing the efficiency and safety of earthmoving machinery.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of earthmoving equipment is predicted to record over 3% CAGR from 2023 to 2032, backed by the rapid urbanization, infrastructure development, and increasing demand for residential and commercial spaces.

The construction application segment is poised to record over 3.5% CAGR from 2023 to 2032, as this machinery finds extensive use in a variety of construction projects, including residential, commercial, industrial, and infrastructure development.

Asia Pacific region is expected to dominate earthmoving equipment market share by 2032, owing to the robust economic growth, rapid urbanization, and numerous smart city projects.

Volvo Construction Equipment, CASE Construction Equipment, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Bobcat Company, Kobelco Construction Machinery Co., Ltd., Hyundai Construction Equipment, Hitachi Construction Machinery Co., Ltd., Wirtgen Group, and Kubota Corporation.