North America Heavy Construction Equipment Market 2021: Industry Size, Trends, Growth Analysis, Opportunity Assessment, Top Key Players, Segmentation and Forecast Research

North America’s Heavy Construction Equipment Market is growing continually, mainly due to the burgeoning construction industry worldwide. This growth attributes to heavy investments in infrastructure development projects across the globe. Building and construction industries are witnessing a spurting demand for smart commercial and residential buildings.

Moreover, increasing numbers of smart city projects escalate the market growth exponentially. In its recent North America heavy construction equipment market research, Market Research Future (MRFR) asserts that this market is projected to garner substantial traction across the globe during the assessment period (2016 – 2021). Over the last decade, construction firms have grown enormously.

Innovations in heavy construction equipment have assured a promising fortune for the construction industry, reducing labor and time. Industry players strategically try to expand their product portfolio, manufacturing capabilities, and customer touchpoints in the biggest construction equipment markets and the fastest-growing economies globally, such as India.

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The adoption of innovative and technologically advanced heavy construction equipment allows colossal traction. Additionally, rising uses of construction equipments in large, medium, and small-scale industrial construction projects help the market grow further. The industrial, construction and rail industries are looking for a trusted provider to unlock the power of industrial IoT and provide better products, solutions, and safety.

Conversely, significant costs associated with the purchase and maintenance of heavy construction equipments are the major factors projected to impede the market growth. Nevertheless, the increasing power projects and dams & canals construction activities would support market growth throughout the assessment period. Also, the rising adoption of heavy construction equipment in road construction activities would foster the growth of the market. 

North America Heavy Construction Equipment Market – Segmentation

The report is segmented into four dynamics;

By Types: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, and others (Cranes, Excavator, Dozer).

By Applications: Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, and others.

By End Users: Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture Forestry, and others.

By Regions: The US, Canada, and the Rest-of-North-America.

North America Heavy Construction Equipment Market – Regional Analysis

The US dominates the North American heavy construction equipment market due to vast construction technology advances and the spurting construction industry. The US is a lucrative market in North America, showcasing a range of high-performance construction equipments. Besides, the substantial growth in dams & canals construction activities and the number of power projects drive the regional market growth.

Also, the growing residential and non-residential construction activities led by the growing population in the country foster the market’s growth. Moreover, the increase in industrialization and urbanization led by the nation’s high GDP positively impact market growth. The US heavy construction equipment market is expected to retain its dominance over the regional market throughout the assessment period.

Canada stands second in the North American heavy construction equipment market. The market share attributes to the increasing demand for construction activities from the urban areas. Additionally, the trend of commercial & residential structure developments boosts market growth in the country. Rising demand for these equipments from residential, industrial, and infrastructural construction projects fosters the market’s growth.

The rising population and high per capita disposable income are key driving forces behind the regional market growth. Furthermore, increasing repair activities in existing infrastructures augment the demand for heavy construction equipment. Continuously increasing construction values in public and private sectors propel market growth. The Canadian heavy construction equipment market is estimated to grow at an impressive CAGR during the forecast period.

North America Heavy Construction Equipment Market – Competitive Analysis

Highly competitive, the heavy construction equipment market in North America appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives like acquisition, partnership, collaboration, expansion, and technology launch to gain a competitive advantage in the market. Industry players invest heavily in R&D to develop adept technologies on a different level than their competition.

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Major Players:

Players leading the North American heavy construction equipment market include Caterpillar Inc., AB Volvo, Komatsu Ltd., J.C. Bamford Excavators Limited, Doosan Heavy Industries & Construction Co. Ltd., Hitachi Construction Machinery Co. Ltd., Liebherr Group, Kobe Steel Ltd., Hyundai Heavy Industries Co., Ltd., and Atlas Copco AB, among others.

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