Global Building and Road Construction Equipment Market Report (2021 to 2030) - COVID-19 Impact and Recovery

The "Building and Road Construction Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering. 

This report provides strategists, marketers and senior management with the critical information they need to assess the global building and road construction equipment market as it emerges from the COVID-19 shut down.

The global building & road construction equipment market is expected to grow from $37.65 billion in 2020 to $41.67 billion in 2021 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $57.88 billion in 2025 at a CAGR of 8.6%.

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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider building and road construction equipment market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market. 

• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery. 

• Market segmentations break down market into sub markets. 

• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets. 

• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified. 

• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers. 

• The building and road construction equipment market section of the report gives context. It compares the building and road construction equipment market with other segments of the building and road construction equipment market by size and growth, historic and forecast.

Major players in the building and road construction equipment market are AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd., Terex Corporation, The Atlas Copco Group, Deere & Company, and Sany Group.

The building and road construction equipment market consist of sales of building and road construction equipment by entities (organizations, sole traders or partnerships) that are engaged in manufacturing building and road construction machinery and equipment such as road roller machine, asphalt mixing plant, forklift truck, crawler excavator, truck crane, and others.

The manufacturing companies in building and road construction equipment are concentrating on upgrading their technologies. The technology advancements aim to increase safety, productivity, connectivity of equipment, and decrease maintenance issues and costs. For instance, in March 2020, Komatsu, a Japan-based construction equipment manufacturer introduced hydraulic excavators*1 equipped with the KomVision Human Detection and Collision Mitigation System of the company. The excavators are designed by advancing the 'KomVision' bird-view camera system equipped with conventional models in the Japanese market. The system identifies humans across the excavator and avoids the excavator from moving when the system detects people whenever the excavator starts to travel or swing. In October 2020, Volvo Construction Equipment, a USA-based manufacturer of construction equipment launched Volvo Active Control, an automated grading machine control system available on excavators EC250E, EC220E, and EC300E across North America. This system allows the operators to conveniently get the right depth and angle, reducing grading times by up to 45%.

The building and road construction equipment market covered in this report is segmented by product type into motor graders, road roller, wheel loaders, concrete mixer, bulldozers, others, by application into building construction, road construction.

In March 2020, K-Tec Earthmovers Inc. (K-Tec), a Canadian company that manufactures efficient earthmoving scrapers for construction and mining sites merged with Ashland Industries (Ashland), a USA-based manufacturer of earthmoving equipment for the agricultural, industrial, and construction sectors. The merger is expected to allow both companies to offer an extensive product line of earthmoving scrapers in the industry. The combination also expects to provide shorter lead times for customers and accelerated product design and launch.

Infrastructure development in emerging and developed countries propelled the building and road construction equipment market. Emerging and developed countries' governments and private sector are focusing on developing the infrastructure to keep up the GDP, meet the growing population needs, meet the levels of urbanization, and to increase connectivity by developing highways and express ways. For instance, the total Indian investment in road construction was worth $22.4 billion in 2018-19 with private investment accounting for 14% of the total investments. Furthermore, according to the World Bank, the private sector infrastructure investment commitments for various sectors amounted to $96.7 billion in 2019 globally. The private participation infrastructure (PPI) investment in H1 was valued at $49.8 billion in 2019, 14% higher from H1 levels in 2018. Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time consuming that furthers acts as a major driver for the building and road construction equipment market's growth.

The high cost of equipment and initial setup is expected to hinder the building and road construction equipment market. The cost of equipment consists of the purchase price, sales tax, shipping cost, installation cost, and financing charges at the time of acquisition of the equipment. A new full-size excavator can cost between $100,000 and $500,000, where companies are required to make high investments, as the purchase also involve additional costs, adding to the financial burden on companies and hindering the construction and road construction equipment market.