Home > Pressrelease > Construction Site Preparation Equipment Market to exceed $1.6 Bn by 2028
Construction Site Preparation Equipment Market to exceed $1.6 Bn by 2028
- Published Date: March 11, 2022
Construction Site Preparation Equipment Market size is anticipated to reach over USD 1.6 billion by 2028, according to a new research report by Global Market Insights Inc. The global shipments are expected to cross 2 million units by 2028.
Initiatives of companies to improve the equipment quality and reduce the maintenance costs is driving the construction site preparation industry growth. The manufacturers are forming strategic alliances or partnerships with retailers & dealers to accelerate their market penetration.
The construction site preparation equipment market is proliferating significantly owing to government administrations’ privatization efforts through a series of regulatory reforms & concession auctions to attract investments to launch new projects.
Analyst view: “Significant investments by various governments in construction and infrastructure sectors are fueling the construction site preparation equipment market growth. Players’ initiatives, such as new product innovations and expanding their dealer networks to stay competitive in the market, will create a favorable environment.”
Handheld augers are used to setup the formworks as well as light poles at construction sites, accelerating the market demand. Industry participants are focusing on enhancing their manufacturing capabilities to stay competitive in the market.
The introduction of autonomous machinery for site preparation applications is a vital factor affecting the construction site preparation equipment sale. With the integration of smart technologies, such as AI, Internet of Things (IoT), and machine learning, global manufacturers including Caterpillar Inc. and Monarch Tactors have launched driverless vehicles. These vehicles enable customers to remotely monitor & control the devices to perform activities including grass cutting and soil breaking, hampering the product sales. They also support consumers in enhancing efficiency and saving the overall time, impacting the industry statistics.
Browse key industry insights spread across 150 pages with 143 market data tables & 20 figures & charts from the report, “Construction Site Preparation Equipment Market Size, By Product (Walk-Behind Tillers, Handheld Trimmers, Handheld Augers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
The construction site preparation equipment market was drastically affected in 2020 and 2021 due to outbreak of novel COVID-19 virus Stringent lockdown measures imposed by government organizations adversely impacted the supply chains as well as halted the equipment production. Companies incurred financial losses on account of decreasing equipment demand. However, the market is expected to witness steady growth post pandemic owing to recovery in the industrial sector and relaxations in lockdown measures coupled with the widespread rollout of COVID-19 vaccines.
Robust fuel efficiency and performance are accelerating handheld trimmers demand
Handheld trimmers held more than 30% of the market share in 2021. It comprises heavy-duty engineered material, made specifically for use in outdoor construction environments. The trimmer is ideal for trimming grass, weeds or clearing leaves & debris from sidewalks, decks, and driveways.
Industry players are highly emphasizing on expanding their product portfolio to increase their customer base as well as business statistics. Companies are investing in research & development activities to gain a competitive positioning in the market. For instance, in May 2021, Husqvarna AB introduced the 220iL battery trimmer/edger and added it to its battery handheld 200 series. The 220iL is equipped with a push-button boost-mode feature that offers around 20% more power for better utilizations in tough conditions.
Increasing public & private investments in smart city in Europe
The Europe construction site preparation equipment market size is poised to rise at a CAGR of around 8% through 2028. There is a growing demand for apartments, penthouses, villas, and bungalows in gated communities, with world-class architecture and facilities. Builders extensively utilize advanced equipments in these projects to enable the seamless development of new & creative premium residential properties.
Government initiatives and expenditures aimed at upgrading residential & commercial infrastructure will help in creating a positive market outlook for construction site preparation equipment. For instance, in September 2021, the UK government released its National Infrastructure and Construction Pipeline, which outlines USD 762 billion in infrastructure investments over the next ten years. The transportation sector including landmark projects, such as HS2 and the Lower Thames Crossing Road tunnel, has received the largest share of investment plans.
The major players operating in the construction site preparation equipment market include VST Tillers Tractors Ltd., Barreto Manufacturing, Inc., STIHL Inc., BCS America, Inc., Mantis (Schiller Grounds Care, Inc.), Chicago Pneumatic, Little Beaver, Inc., General Equipment Company, Honda Motor Company, and Ground Hog, Inc.
Manufacturers are focusing on expanding their dealership networks to increase their construction site preparation equipment sales globally.