According to the recent study the smart construction equipment market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing construction and infrastructure investments, adoption of advanced construction equipment and rising adoption of technologically advanced construction machinery.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in smart construction equipment market by equipment type (earthmoving, material handling equipment & cranes, concrete, road building, civil engineering, crushing & screening, and others), application (residential, commercial, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Material handling equipment & cranes market is expected to remain the largest segment during the forecast period.”
Based on equipment type, the smart construction equipment market is segmented into earthmoving, material handling equipment & cranes, concrete, road building, civil engineering, crushing & screening, and others. Lucintel forecasts that the material handling equipment & cranes market is expected to remain the largest segment due to the rising infrastructure projects worldwide and increasing urban population.
“Within the smart construction equipment market, the residential segment is expected to remain the largest application”
Based on application the residential segment is expected to witness the highest growth over the forecast period due to the growing number of housing projects in the emerging nations and increasing construction activities in response to rapid urbanisation.
“North America will dominate the smart construction equipment market in near future”
North America will remain the largest region due to government initiatives for infrastructure development, presence of established market leaders, and low interest rate loans to procure construction equipment in the region.
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Major players of smart construction equipment market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Caterpillar, Komatsu, Deere, Volvo Construction Equipment, SANY Group Company Ltd., Hitachi Construction Machinery, and Doosan are among the major smart construction equipment providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-construction-equipment-market.aspx or [email protected]