Demand for construction equipment will increase over the coming years as government spending on infrastructure development projects in developed and developing countries is rising, which is expected to drive the growth of the global construction equipment attachment market. Furthermore, government initiatives to build bridges, dams, railways, and highways as part of the creation of smart cities in areas of energy, mobility and government will increase demand for building equipment, further boosting demand for construction equipment attachments.
The global construction equipment attachment market is poised to expand at a value CAGR of 2.4%, and is expected to create an absolute dollar opportunity of US$ 1.4 Bn over the forecast duration of 2020-2030.
Global Construction Equipment Attachment Market: Segmentation
For clearer understanding of the Construction Equipment Attachment Market, analysts have segmented the market. The segmentation has been done on the basis of application, technology, and users. Each segment has been further explained with the help of graphs figures. This breakdown of the market gives the readers an objective view of the global Construction Equipment Attachment Market, which is essential to make sound investments.
A market research study is incomplete without regional analysis, and we are well aware of it. That is why, the report includes a comprehensive and all-inclusive study that solely concentrates on the geographical growth of the global Construction Equipment Attachment Market. The study also includes accurate estimations about market growth at the global, regional, and country levels. It empowers you to understand why some regional markets are flourishing while others are seeing a decline in growth. It also allows you to focus on geographies that hold the potential to create lucrative prospects in the near future.
Regional Outlook of Construction Equipment Attachment Market
Asia and Oceania together are estimated to account for 45% of the total construction equipment attachment market share in 2020. Asian countries are markets with high growth of construction, building, infrastructure, and mining industries. Growing number of agricultural activities is expected to boost the growth of the construction equipment market. Further, increasing construction activities and rapid urbanization will provide immense growth opportunity in the region.
In North America, strong presence of prominent players is aiding the growth of construction equipment attachment market, which accounts for about 20% of the total construction equipment attachment market share. The Middle East region is projected to progress at 2% CAGR during the forecast period. This growth can be attributed to rising demand for infrastructure spending in the region.
Europe generated significant revenue in 2019, and is expected to see growth as a result of increased demand for machinery and equipment. In Oceania, the market in Australia is expected to expand at a moderate growth rate over the assessment period, due to stringent rules and regulations. The Latin America construction equipment market is likely to witness significant growth, owing to increasing investments in mining projects in the region.
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Construction Equipment Attachment Market report answers the following queries:
- What is the largest share held by key players in the market?
- What strategies have proven most advantageous in the Construction Equipment Attachment Market?
- Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
- What factors will most likely present challenges to growth during the forecast period?
- What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
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