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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 7%
Industry Definition and Major Segments
Construction equipment manufacturers are being pushed to choose electric and hybrid vehicles over traditional hydraulic and mechanical vehicles by the demand for cost-effective machines and regulatory pressures to reduce emissions.
The construction machinery market can be divided on the basis of segments like machinery type and drive type:
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Based on machinery type:
Based on drive type:
Market Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rapid urbanisation and rising building project investment, along with increased demand for multi-family homes, condominiums, hospitals, hotels, and offices, have resulted in increased demand for construction equipment, assisting the global construction machinery industry's growth. The construction industry has gotten a boost in recent years because of rising construction spending in Asia and the Middle East, assisting the construction machinery market's growth. Skyscrapers have become the latest trend as property prices rise, owing to their ability to provide more cost-effective floor space, propelling the industry forward.
Key Market Players
The major players within the market are CNH Industrial N.V, Deere & Company, Manitou Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., Hitachi Construction Machinery Co., Ltd., J.C. Bamford Excavators Limited, Caterpillar Inc. [CAT (NYSE)] and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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