Construction Equipment Market to Reach $288.8 Billion, Globally, by 2022
Construction Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $288.8 billion by 2022, registering a CAGR of 9.2% during the forecast period 2016-2022. Asia-Pacific is the largest market for construction equipment on account of substantial investments by the government in the manufacturing and infrastructure sector, followed by North America. Access full summary at: https://www.alliedmarketresearch.com/construction-equipment-market In terms of market by product type, the loader segment accounted for the largest market share of around 45% in 2015, due to the widespread adoption of loaders in construction, mining, and public works industries. The segment is projected to remain dominant throughout the forecast period. Collectively, cranes and excavators accounted for a market share of 35% in 2015, and are expected to witness notable growth during the forecast period, owing to the increasing usage of these equipment for lifting heavy loads, material handling, mines and many other purposes.
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