Understand How The Construction Equipment Aftermarket Market Is Set To Grow In Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global construction equipment aftermarket market size is expected to grow from $23.38 billion in 2022 to $25.20 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The construction equipment aftermarket market is expected to reach $32.69 billion in 2027 at a CAGR of 6.7%.
What will drive the construction equipment aftermarket market?
The growing construction activities are expected to propel the growth of the construction equipment aftermarket market going forward.
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Who are the major players in the market?
Major players in the construction equipment aftermarket market are Caterpillar Inc., Komatsu Ltd., CNH Industrial N.V., Atlas Copco Group, Liebherr Group, XCMG Group, John Deere Construction & Forestry.
Which trend is gaining popularity in the construction equipment aftermarket market?
Product innovations are a key trend gaining popularity in the construction equipment aftermarket market. Major companies operating in the construction equipment aftermarket are innovating new products to sustain their position in the market.
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How is the construction equipment aftermarket market segmented?
Global Construction Equipment Aftermarket Market Segments Include:
- By Equipment Type: Earthmoving And Road Building Equipment, Material Handling And Cranes, Concrete Equipment
- By Application: Infrastructure, Residential, Commercial
- By Sales Channel: Online, Offline
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global construction equipment aftermarket market in 2021.
The Construction Equipment Aftermarket Global Market Report 2023 provides an overview of the construction equipment aftermarket market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The construction equipment aftermarket market forecast analyzes construction equipment aftermarket market size, construction equipment aftermarket market share, leading competitor and their market positions.
Construction equipment aftermarket refers to the parts, accessories, and services of construction equipment sold after the initial sale. They help equipment owners and operators maximize the value of their investments and the productivity of their construction operations.
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