ASIA PACIFIC LEADS THE GLOBAL CONSTRUCTION EQUIPMENT MARKET WITH MARKET SHARE OF ~44% in 2024.
The global Construction Equipment Market is estimated to reach USD 186.62 billion by 2030 from USD 148.02 billion in 2024, registering a CAGR of 3.9%. The growth of the construction equipment market is related to the growth of the construction industry. Government investment to boost infrastructure projects, rental/leasing trends, public-private partnerships, and rising disposable incomes will likely...
Why the Construction Equipment Market Will Top $194.7 Billion by 2030
The construction equipment industry plays a crucial role in shaping infrastructure development and driving economic growth worldwide. This sector encompasses a wide range of machinery and tools used in various construction activities, including excavation, grading, lifting, and material handling. Key segments within the industry include earthmoving equipment (such as excavators and bulldozers), construction...
What Are the Key Trends Shaping the Future of OTR Tires?
The global OTR tires industry is projected to grow from USD 4.8 billion in 2024 to USD 7.0 billion by 2030, at a CAGR of 6.5% during the forecast period. Growing infrastructure development activities, increased mining activities, & farm mechanization, and growing investments in new ports and extension of existing ports will drive the demand for off-highway equipment. This is projected to drive...