Centrifugal Air Compressor Market estimated to gain high demand by 2026

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Construction Equipment Market Study by Regional
Outlook and Competitive Landscape to 2026

• The growing demand for high-performance
  construction equipment across agricultural,
  mining, forestry, and industrial applications is
  likely to drive the global construction equipment
  market growth over the coming years. The
  increasing adoption of modern machines to
  decrease the growing dependency on human labor
  across the aforementioned applications is
  proliferating the market outlook. In addition,
  rising industrialization and urbanization
  throughout the world is further expected to boost
  product demand.
• The construction equipment industry boasts of a
  significantly vast product portfolio that
  contains machines that are designed for specific
  applications. The specialized designs of these
  devices allow their use across a number of other
  applications as well, creating favorable revenue
  growth opportunities for the market.

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• However, the construction and infrastructure
  development sector is still the most prominent
  growth facilitator for the industry. Several
  economies are increasing focusing on extensive
  infrastructure upgradation and development
  initiatives, creating more business opportunities
  for construction equipment sector from its core
  application avenue.

• Meanwhile, increasing implementation of the
  product across agricultural and mining industries
  across Latin America is expected to foster the
  LATAM construction equipment market size over the
  coming years. Additionally, increasing accident
  across construction sites and the subsequent rise
  in worker safety concerns would be promoting the
  adoption of autonomous and technologically
  advanced construction across the Asia Pacific,
  fueling regional growth.

• With respect to material, the concrete equipment
  segment is projected to grow significantly due to
  the rising number of road-building activities
  throughout the globe. This focus on improving
  public infrastructure is expected to push
  industry share over the coming years. Taking
  March 2020 for instance, the Indian Government
  sanctioned new National Highway construction
  projects worth more than 15.9 billion.
  Construction equipment like pavers and mixers,
  enable timely and quick completion of road
  building and construction projects, augmenting
  their demand in the industry.

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• Regional Analysis

• On the regional front, immense growth in the
  residential building construction activities
  across countries like Russia, and UK would propel
  the Europe construction equipment market growth
  over the forecast timeframe. Furthermore, the
  region is anticipated to observe an increasing
  demand for autonomous and electric construction
  equipment owing to the paradigm shift towards
  using technologically advanced products. In
  addition, the growing preference of construction
  contractors towards renting construction machines
  is driving local service providers to adopt more
  high-quality equipment.

• Competitive Analysis

• The competitive landscape of the global
  construction equipment industry is inclusive of
  players such as Kobelco Construction Machinery
  Co., Liebherr, Zoomlion, XCMG, Sany Group,
  Hitachi Construction Company, Terex Group, and
  Komatsu among others.

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