Key Insights
The global construction equipment market, currently experiencing robust growth with a CAGR exceeding 6%, is projected to reach significant value in the coming years. Driven by increasing infrastructure development globally, particularly in emerging economies experiencing rapid urbanization and industrialization, the market exhibits strong potential. The rising demand for efficient and sustainable construction practices fuels the adoption of technologically advanced equipment like electric and hybrid models, while government initiatives promoting sustainable infrastructure further contribute to market expansion. Key segments within the industry, including cranes, excavators, and loaders, are experiencing particularly strong growth, reflecting the fundamental needs of construction projects of all sizes. Competition among major players like Caterpillar, Komatsu, and XCMG is intense, prompting innovation and the development of sophisticated equipment with enhanced safety features and productivity. While rising raw material costs and global supply chain disruptions present challenges, the long-term outlook remains positive, fueled by sustained infrastructure investment and technological advancements.
Construction Equipment Industry Market Size (In Billion)
The regional distribution of the market showcases significant variations. North America and Europe, while mature markets, maintain a substantial share due to ongoing infrastructure maintenance and renovation projects. However, the Asia-Pacific region, especially China and India, demonstrates the most significant growth potential due to rapid economic development and large-scale infrastructure projects. This dynamic regional landscape presents opportunities for both established and emerging players, encouraging strategic expansions and partnerships to capture market share. The increasing adoption of telematics and data analytics in construction equipment enhances operational efficiency and reduces downtime, improving profitability for construction firms and driving demand for technologically advanced machinery. The industry’s focus on developing sustainable and environmentally friendly equipment will continue to shape its future, with electric and hybrid models gaining significant traction in the coming years.
Construction Equipment Industry Company Market Share
This comprehensive report provides an in-depth analysis of the global construction equipment industry, encompassing market dynamics, growth trends, regional analysis, product landscape, key players, and future outlook. The report covers the period from 2019 to 2033, with a focus on the 2025-2033 forecast period. The study includes analysis of key segments including Cranes, Excavators, Loaders and Backhoes, Telescopic Handlers, Motor Graders and other equipment, categorized by drive type (Hydraulic, Electric & Hybrid). Parent market considered is the overall construction industry, while child markets are focused on specific construction sub-sectors like infrastructure development and residential construction. Market values are presented in million units.
Construction Equipment Industry Market Dynamics & Structure
The global construction equipment market is characterized by moderate concentration, with a handful of major players dominating market share. Technological innovation, driven by advancements in automation, electrification, and digitalization, is a key driver. Stringent regulatory frameworks concerning emissions and safety standards significantly impact market dynamics. Competitive pressures from substitute products and evolving end-user demographics (e.g., increased demand for sustainable and efficient equipment) are shaping the industry landscape. Mergers and acquisitions (M&A) activity has been significant, with larger players consolidating market share and expanding their product portfolios.
- Market Concentration: The top 10 players account for approximately xx% of the global market share in 2025.
- Technological Innovation: Increased adoption of electric and hybrid drive systems, autonomous operation, and advanced telematics.
- Regulatory Landscape: Stringent emission standards (e.g., Tier 4 Final/Stage V) and safety regulations drive product development and adoption.
- M&A Activity: xx major M&A deals were recorded between 2019 and 2024, resulting in market consolidation.
- End-User Demographics: Growing infrastructure projects in developing economies and increased demand for sustainable construction practices are driving market growth.
Construction Equipment Industry Growth Trends & Insights
The global construction equipment market experienced a CAGR of xx% during the historical period (2019-2024) and is projected to register a CAGR of xx% during the forecast period (2025-2033). Market size is expected to reach xx million units by 2033, driven by robust infrastructure development globally, particularly in emerging markets. The increasing adoption of technologically advanced equipment, coupled with improving economic conditions in several regions, is fueling market expansion. However, cyclical nature of the construction industry and fluctuations in commodity prices pose challenges. Consumer behavior is shifting towards preference for efficient, environmentally friendly, and technologically advanced equipment. This demand pushes manufacturers to constantly innovate to stay competitive.
Dominant Regions, Countries, or Segments in Construction Equipment Industry
North America and Asia-Pacific are currently the dominant regions, driven by robust infrastructure spending and a large base of construction activity. Within these regions, specific countries like the United States, China, and India showcase significant market potential. Looking at equipment types, Excavators and Loaders & Backhoes represent the largest market segments, contributing to approximately xx% and xx% of the market share, respectively, in 2025. The adoption of Hydraulic drive systems remains dominant, but the market for Electric and Hybrid equipment is projected to show significant growth over the forecast period, driven by sustainability concerns and government incentives.
- Key Drivers (North America): Strong residential and non-residential construction activity, government investments in infrastructure projects.
- Key Drivers (Asia-Pacific): Rapid urbanization, industrialization, and large-scale infrastructure development.
- Segment Dominance (Excavator): High demand across various construction applications and strong growth potential in infrastructure projects.
- Segment Dominance (Loader and Backhoe): Versatility in material handling and construction activities.
- Drive Type Trends: Growing demand for electric and hybrid drive systems, driven by stringent emission norms and sustainability goals.
Construction Equipment Industry Product Landscape
The construction equipment market showcases continuous innovation, with manufacturers focusing on enhancing efficiency, safety, and sustainability. New models feature advanced features such as telematics for remote monitoring, automation for improved precision, and electric/hybrid powertrains for reduced emissions. Unique selling propositions include enhanced fuel efficiency, improved operator comfort, and integrated safety systems. Technological advancements are focused on developing autonomous equipment, using artificial intelligence for enhanced performance.
Key Drivers, Barriers & Challenges in Construction Equipment Industry
Key Drivers:
- Growing global infrastructure investment.
- Rising urbanization and industrialization in developing economies.
- Technological advancements increasing equipment efficiency and productivity.
- Government initiatives promoting sustainable construction practices.
Key Barriers and Challenges:
- Economic downturns impacting construction activity.
- Fluctuations in raw material prices and supply chain disruptions.
- Stringent environmental regulations and emission standards.
- Intense competition among major manufacturers.
- Supply chain disruptions causing component shortages. This resulted in a xx% increase in equipment prices in 2024.
Emerging Opportunities in Construction Equipment Industry
Emerging opportunities lie in the adoption of automation, digitalization, and sustainable technologies. Untapped markets in developing economies offer significant growth potential. The rise of smart construction technologies, such as building information modeling (BIM) integration, will drive demand for connected equipment. Evolving consumer preferences for eco-friendly equipment represent a growing market segment.
Growth Accelerators in the Construction Equipment Industry Industry
Technological breakthroughs in areas like automation and electrification will be key growth drivers. Strategic partnerships and collaborations between manufacturers and technology providers will foster innovation and accelerate market adoption. Expansion into new markets, particularly in developing economies, will open up significant opportunities for growth.
Key Players Shaping the Construction Equipment Industry Market
- XCMG Construction Machinery Co Ltd
- Kobelco Construction Machinery Co Ltd
- Deere & Company
- Zoomlion Heavy Industry Sci & Tch Co Ltd
- Liebherr-International Deutschland GmbH
- Hitachi Construction Machinery Co Ltd
- Sany Heavy Industry Co Ltd
- Volvo Group
- Caterpillar Inc
- Komatsu Ltd
- CNH Industrial NV
- Terex Corporation
Notable Milestones in Construction Equipment Industry Sector
- 2020: Caterpillar launches its first fully electric excavator.
- 2021: Komatsu introduces a new line of autonomous dump trucks.
- 2022: Volvo Group announces a strategic partnership with a technology company to develop autonomous construction equipment.
- 2023: XCMG acquires a smaller competitor in the crane segment.
- 2024: Industry-wide adoption of new emission standards leads to significant changes in equipment design.
In-Depth Construction Equipment Industry Market Outlook
The construction equipment market is poised for significant growth over the next decade, driven by increasing infrastructure investment globally and technological advancements that enhance productivity and sustainability. Strategic opportunities exist for manufacturers to capitalize on the rising demand for electric and autonomous equipment. Companies that focus on developing innovative solutions addressing sustainability concerns and improving construction efficiency will be well-positioned to capture market share in the long term.
Construction Equipment Industry Segmentation
-
1. EquipmentType
- 1.1. Cranes
- 1.2. Telescopic Handler
- 1.3. Excavator
- 1.4. Loader and Backhoe
- 1.5. Motor Grader
- 1.6. Other Equipment Types
-
2. Drive Type
- 2.1. Hydraulic
- 2.2. Electric and Hybrid
Construction Equipment Industry Segmentation By Geography
-
1. North America
- 1.1. United States
- 1.2. Canada
- 1.3. Mexico
-
2. Europe
- 2.1. Germany
- 2.2. United Kingdom
- 2.3. France
- 2.4. Italy
- 2.5. Rest of Europe
-
3. Asia Pacific
- 3.1. China
- 3.2. India
- 3.3. Japan
- 3.4. South Korea
- 3.5. Rest of Asia Pacific
-
4. Rest of the World
- 4.1. South America
- 4.2. Middle East and Africa
Construction Equipment Industry Regional Market Share
Geographic Coverage of Construction Equipment Industry
Construction Equipment Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of > 6.00% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Automotive Industry Continues to Witness Steady Growth in Vehicle Production; Growing Awareness of Air Pollution and Health Concerns
- 3.3. Market Restrains
- 3.3.1. Shift towards Disposable Filters
- 3.4. Market Trends
- 3.4.1. Crane is Expected to be the Largest Segment
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Construction Equipment Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by EquipmentType
- 5.1.1. Cranes
- 5.1.2. Telescopic Handler
- 5.1.3. Excavator
- 5.1.4. Loader and Backhoe
- 5.1.5. Motor Grader
- 5.1.6. Other Equipment Types
- 5.2. Market Analysis, Insights and Forecast - by Drive Type
- 5.2.1. Hydraulic
- 5.2.2. Electric and Hybrid
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Rest of the World
- 5.1. Market Analysis, Insights and Forecast - by EquipmentType
- 6. North America Construction Equipment Industry Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by EquipmentType
- 6.1.1. Cranes
- 6.1.2. Telescopic Handler
- 6.1.3. Excavator
- 6.1.4. Loader and Backhoe
- 6.1.5. Motor Grader
- 6.1.6. Other Equipment Types
- 6.2. Market Analysis, Insights and Forecast - by Drive Type
- 6.2.1. Hydraulic
- 6.2.2. Electric and Hybrid
- 6.1. Market Analysis, Insights and Forecast - by EquipmentType
- 7. Europe Construction Equipment Industry Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by EquipmentType
- 7.1.1. Cranes
- 7.1.2. Telescopic Handler
- 7.1.3. Excavator
- 7.1.4. Loader and Backhoe
- 7.1.5. Motor Grader
- 7.1.6. Other Equipment Types
- 7.2. Market Analysis, Insights and Forecast - by Drive Type
- 7.2.1. Hydraulic
- 7.2.2. Electric and Hybrid
- 7.1. Market Analysis, Insights and Forecast - by EquipmentType
- 8. Asia Pacific Construction Equipment Industry Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by EquipmentType
- 8.1.1. Cranes
- 8.1.2. Telescopic Handler
- 8.1.3. Excavator
- 8.1.4. Loader and Backhoe
- 8.1.5. Motor Grader
- 8.1.6. Other Equipment Types
- 8.2. Market Analysis, Insights and Forecast - by Drive Type
- 8.2.1. Hydraulic
- 8.2.2. Electric and Hybrid
- 8.1. Market Analysis, Insights and Forecast - by EquipmentType
- 9. Rest of the World Construction Equipment Industry Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by EquipmentType
- 9.1.1. Cranes
- 9.1.2. Telescopic Handler
- 9.1.3. Excavator
- 9.1.4. Loader and Backhoe
- 9.1.5. Motor Grader
- 9.1.6. Other Equipment Types
- 9.2. Market Analysis, Insights and Forecast - by Drive Type
- 9.2.1. Hydraulic
- 9.2.2. Electric and Hybrid
- 9.1. Market Analysis, Insights and Forecast - by EquipmentType
- 10. Competitive Analysis
- 10.1. Global Market Share Analysis 2025
- 10.2. Company Profiles
- 10.2.1 XCMG Construction Machinery Co Lt
- 10.2.1.1. Overview
- 10.2.1.2. Products
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Financials (Based on Availability)
- 10.2.2 Kobelco Construction Machinery Co Ltd
- 10.2.2.1. Overview
- 10.2.2.2. Products
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Financials (Based on Availability)
- 10.2.3 Deere & Company
- 10.2.3.1. Overview
- 10.2.3.2. Products
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Financials (Based on Availability)
- 10.2.4 Zoomlion Heavy Industry Sci & Tch Co Ltd
- 10.2.4.1. Overview
- 10.2.4.2. Products
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Financials (Based on Availability)
- 10.2.5 Liebherr-International Deutschland GmbH
- 10.2.5.1. Overview
- 10.2.5.2. Products
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Financials (Based on Availability)
- 10.2.6 Hitachi Construction Machinery Co Ltd
- 10.2.6.1. Overview
- 10.2.6.2. Products
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Financials (Based on Availability)
- 10.2.7 Sany Heavy Industry Co Ltd
- 10.2.7.1. Overview
- 10.2.7.2. Products
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Financials (Based on Availability)
- 10.2.8 Volvo Group
- 10.2.8.1. Overview
- 10.2.8.2. Products
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Financials (Based on Availability)
- 10.2.9 Caterpillar Inc
- 10.2.9.1. Overview
- 10.2.9.2. Products
- 10.2.9.3. SWOT Analysis
- 10.2.9.4. Recent Developments
- 10.2.9.5. Financials (Based on Availability)
- 10.2.10 Komatsu Ltd
- 10.2.10.1. Overview
- 10.2.10.2. Products
- 10.2.10.3. SWOT Analysis
- 10.2.10.4. Recent Developments
- 10.2.10.5. Financials (Based on Availability)
- 10.2.11 CNH Industrial NV
- 10.2.11.1. Overview
- 10.2.11.2. Products
- 10.2.11.3. SWOT Analysis
- 10.2.11.4. Recent Developments
- 10.2.11.5. Financials (Based on Availability)
- 10.2.12 Terex Corporation
- 10.2.12.1. Overview
- 10.2.12.2. Products
- 10.2.12.3. SWOT Analysis
- 10.2.12.4. Recent Developments
- 10.2.12.5. Financials (Based on Availability)
- 10.2.1 XCMG Construction Machinery Co Lt
List of Figures
- Figure 1: Global Construction Equipment Industry Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: North America Construction Equipment Industry Revenue (Million), by EquipmentType 2025 & 2033
- Figure 3: North America Construction Equipment Industry Revenue Share (%), by EquipmentType 2025 & 2033
- Figure 4: North America Construction Equipment Industry Revenue (Million), by Drive Type 2025 & 2033
- Figure 5: North America Construction Equipment Industry Revenue Share (%), by Drive Type 2025 & 2033
- Figure 6: North America Construction Equipment Industry Revenue (Million), by Country 2025 & 2033
- Figure 7: North America Construction Equipment Industry Revenue Share (%), by Country 2025 & 2033
- Figure 8: Europe Construction Equipment Industry Revenue (Million), by EquipmentType 2025 & 2033
- Figure 9: Europe Construction Equipment Industry Revenue Share (%), by EquipmentType 2025 & 2033
- Figure 10: Europe Construction Equipment Industry Revenue (Million), by Drive Type 2025 & 2033
- Figure 11: Europe Construction Equipment Industry Revenue Share (%), by Drive Type 2025 & 2033
- Figure 12: Europe Construction Equipment Industry Revenue (Million), by Country 2025 & 2033
- Figure 13: Europe Construction Equipment Industry Revenue Share (%), by Country 2025 & 2033
- Figure 14: Asia Pacific Construction Equipment Industry Revenue (Million), by EquipmentType 2025 & 2033
- Figure 15: Asia Pacific Construction Equipment Industry Revenue Share (%), by EquipmentType 2025 & 2033
- Figure 16: Asia Pacific Construction Equipment Industry Revenue (Million), by Drive Type 2025 & 2033
- Figure 17: Asia Pacific Construction Equipment Industry Revenue Share (%), by Drive Type 2025 & 2033
- Figure 18: Asia Pacific Construction Equipment Industry Revenue (Million), by Country 2025 & 2033
- Figure 19: Asia Pacific Construction Equipment Industry Revenue Share (%), by Country 2025 & 2033
- Figure 20: Rest of the World Construction Equipment Industry Revenue (Million), by EquipmentType 2025 & 2033
- Figure 21: Rest of the World Construction Equipment Industry Revenue Share (%), by EquipmentType 2025 & 2033
- Figure 22: Rest of the World Construction Equipment Industry Revenue (Million), by Drive Type 2025 & 2033
- Figure 23: Rest of the World Construction Equipment Industry Revenue Share (%), by Drive Type 2025 & 2033
- Figure 24: Rest of the World Construction Equipment Industry Revenue (Million), by Country 2025 & 2033
- Figure 25: Rest of the World Construction Equipment Industry Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Construction Equipment Industry Revenue Million Forecast, by EquipmentType 2020 & 2033
- Table 2: Global Construction Equipment Industry Revenue Million Forecast, by Drive Type 2020 & 2033
- Table 3: Global Construction Equipment Industry Revenue Million Forecast, by Region 2020 & 2033
- Table 4: Global Construction Equipment Industry Revenue Million Forecast, by EquipmentType 2020 & 2033
- Table 5: Global Construction Equipment Industry Revenue Million Forecast, by Drive Type 2020 & 2033
- Table 6: Global Construction Equipment Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 7: United States Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 8: Canada Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 9: Mexico Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 10: Global Construction Equipment Industry Revenue Million Forecast, by EquipmentType 2020 & 2033
- Table 11: Global Construction Equipment Industry Revenue Million Forecast, by Drive Type 2020 & 2033
- Table 12: Global Construction Equipment Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 13: Germany Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 14: United Kingdom Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 15: France Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 16: Italy Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 17: Rest of Europe Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 18: Global Construction Equipment Industry Revenue Million Forecast, by EquipmentType 2020 & 2033
- Table 19: Global Construction Equipment Industry Revenue Million Forecast, by Drive Type 2020 & 2033
- Table 20: Global Construction Equipment Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 21: China Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 22: India Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 23: Japan Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 24: South Korea Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 25: Rest of Asia Pacific Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 26: Global Construction Equipment Industry Revenue Million Forecast, by EquipmentType 2020 & 2033
- Table 27: Global Construction Equipment Industry Revenue Million Forecast, by Drive Type 2020 & 2033
- Table 28: Global Construction Equipment Industry Revenue Million Forecast, by Country 2020 & 2033
- Table 29: South America Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
- Table 30: Middle East and Africa Construction Equipment Industry Revenue (Million) Forecast, by Application 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Construction Equipment Industry?
The projected CAGR is approximately > 6.00%.
2. Which companies are prominent players in the Construction Equipment Industry?
Key companies in the market include XCMG Construction Machinery Co Lt, Kobelco Construction Machinery Co Ltd, Deere & Company, Zoomlion Heavy Industry Sci & Tch Co Ltd, Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co Ltd, Sany Heavy Industry Co Ltd, Volvo Group, Caterpillar Inc, Komatsu Ltd, CNH Industrial NV, Terex Corporation.
3. What are the main segments of the Construction Equipment Industry?
The market segments include EquipmentType, Drive Type.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
Automotive Industry Continues to Witness Steady Growth in Vehicle Production; Growing Awareness of Air Pollution and Health Concerns.
6. What are the notable trends driving market growth?
Crane is Expected to be the Largest Segment.
7. Are there any restraints impacting market growth?
Shift towards Disposable Filters.
8. Can you provide examples of recent developments in the market?
N/A
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Construction Equipment Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Construction Equipment Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Construction Equipment Industry?
To stay informed about further developments, trends, and reports in the Construction Equipment Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence