DUBLIN--(BUSINESS WIRE)--The "Compact Construction Equipment Market by Equipment, End-user Industry, and Application - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.
The global compact construction equipment market size was $6,250 million in 2016, and is projected to reach $9,438 million in 2023, growing at a CAGR of 6.2% from 2017 to 2023.
Increase in construction activities and rise in application in mining and agriculture industry propel the demand for compact construction equipment. In addition, the portable and compact size, light weight, and robust performance leads to the growth of the compact construction equipment market. However, the shortage of skilled workforce and high manufacturing cost of the equipment are major challenges faced by the players operating in the market. Increase in pace of infrastructural improvement and rise in demand for renewable energy offer promising opportunities for players in the compact construction equipment industry.
The global compact construction equipment market is segmented into equipment, end-user industry, application, and region. Based on equipment, the market is categorized into backhoe loader, excavator, skid steer loader, telehandler, track loader, and others. Backhoe loader is expected to dominate the global compact construction equipment market throughout the analysis period owing to its wide scope of application. The end-user industry segment includes metal & mining, construction, agriculture, and others. In 2016, the construction industry accounted for maximum market share due to increase in number of infrastructural improvements. By application, the market is divided into loading, excavation, material handling, lifting & hoisting, and others.
- Caterpillar, Inc.
- Hyundai Heavy Industries Co. Ltd.
- JCB, Inc.
- John Deere
- King Machinery
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Compact Construction Equipment Market, By Equipment
5 Compact Construction Equipment Market, By End-User Industry
6 Compact Construction Equipment Market, By Application
7 Compact Construction Equipment Market, By Geography
8 Company Profile
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