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United States Construction Equipment Market Report

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the United States construction equipment market is estimated to grow at a CAGR of 6% during the forecast period of 2022-2028. The growing demand for construction equipment in this region is being fueled by increased construction activities for infrastructural development as a result of government and private investment.

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United States Construction Equipment Market Report

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  1. United States Construction Equipment Market, By Equipment Type- Global Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

  2. United States Construction Equipment Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the United States construction equipment market is estimated to grow at a CAGR of 6% during the forecast period of 2022-2028. The growing demand for construction equipment in this region is being fueled by increased construction activities for infrastructural development as a result of government and private investment. Furthermore, increased demand for residential facilities is emerging as a significant driver of the construction equipment industry in the United States. However, high cost of construction equipment may act as a huge restraining factor for the market growth.

  3. Growth Drivers  Growing Establishments Of Manufacturing Plants United States have high concentration of leading manufacturers, including consumer goods and automobiles. However, due to cheaper production costs, the manufacturing and assembly of these items is primarily outsourced to developing nations. However, in order to fulfil increased local demand, businesses are rapidly moving or creating new production operations in the nation. As a result, construction activity for industrial units and plants is expected to increase, boosting total market growth.

  4. Restraints  High Cost Of Construction Machinery The high cost of construction equipment is a major impediment to the growth of the United States construction equipment market. For instance, the typical cost of a bulldozer, which is widely employed in construction, ranges from USD 30,000 to USD 200,000 and above. Because of the high cost, contractors choose to lease construction machines or buy used machinery rather than acquire new ones, stifling industry expansion. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/united-states-construction-equipment-market/report-sample

  5. Impact of COVID-19 The United States construction equipment market was among the worst affected sectors post the COVID-19 pandemic outbreak. The entire construction operations were completely halted owing to the increasing burden of the COVID-19 affected rates along with implementation of social distancing norms. Furthermore, the manufacturing of construction equipment itself were obstructed during the lockdown period, due to which the manufacturers had to incur huge loses during this period. However, the market is estimated to register steady growth post the lifting of the lockdown in the country.

  6. Competitive Landscape The leading market players of the United States construction equipment market are Kobelco Construction Machinery, Komatsu Ltd., Terex Corporation, Hyundai Heavy Industries, SANY Group, Caterpillar Inc., Hitachi Construction Machinery, John Deere, Volvo Construction Equipment, and other prominent players. The United States construction equipment market is highly consolidated and concentration among the established multinational corporations. The companies constantly launch new products with advancements and innovations. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

  7. Recent Development In March 2022, Alta Equipment Group Inc., material handling and construction equipment company, announced to have assigned the Arizona sales and service territory for Nikola Corporation, an American manufacturer of heavy-duty zero-emission vehicles.

  8. Key Players Kobelco Construction Machinery, Komatsu Ltd., Terex Corporation, Hyundai Heavy Industries, SANY Group, Caterpillar Inc., Hitachi Construction Machinery, John Deere, Volvo Construction Equipment, and other prominent players.

  9. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  10. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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