The Construction Machinery Global Market Report 2023 by The Business Research Company, provides construction machinery market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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As per The Business Research Company’s illuminating Construction Machinery Global Market Report for 2023, an anticipated growth trajectory is projected. The market, with a size of $308.97 billion in 2022, is forecasted to ascend to $336.72 billion in 2023, exhibiting a notable compound annual growth rate (CAGR) of 9.0%. However, the reverberations of the Russia-Ukraine conflict have cast a shadow over global economic recovery from the COVID-19 pandemic, particularly in the short term. This geopolitical turmoil has triggered economic sanctions, commodity price hikes, and supply chain disruptions, culminating in widespread inflation across goods and services and impacting diverse global markets. Looking ahead, the global construction machinery market is poised for sustained growth, projected to reach $458.34 billion in 2027, showcasing a commendable CAGR of 8.0%. This foresight underscores the dynamic interplay of geopolitical events and market forces shaping the trajectory of the construction machinery sector on a global scale.

Increasing investment in infrastructure is anticipated to contribute to the construction machinery’s market growth.

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The construction machinery market is segmented:

1) Construction Machinery Market By Product: Earthmoving, Material Handling, Building & Road Construction Equipment, Autonomous Construction Equipment

2) Construction Machinery Market By Application: Excavation & mining, Lifting & material handling, Earth moving, Transportation, Other Applications

3) Construction Machinery Market By End User: Oil & Gas, Construction & Infrastructure, Manufacturing, Mining, Other End Users

In the contemporary landscape, the construction machinery market has become a focal point for a myriad of strategic initiatives, with a notable emphasis on partnerships and the introduction of pioneering products. Prominent entities within this market sphere are consistently directing their efforts toward forging collaborations with other industry players, thereby enhancing their product repertoire and extending their geographical footprint. A case in point is Caterpillar Inc., a distinguished US-based manufacturer of construction machinery and equipment, which recently unveiled a strategic partnership with Newmont Mining, a leading US-based gold producer. This collaborative venture is set to propel the development of underground vehicle automation technology, with a specific focus on leveraging Caterpillar's semi-autonomous system for underground loaders while concurrently enhancing existing technological capabilities. This strategic alliance signifies a concerted commitment to advancing automation and technology within the construction machinery domain.

The construction machinery market report table of contents includes:

1. Executive Summary

2. Construction Machinery Market Characteristics

3. Construction Machinery Market Trends And Strategies

4. Construction Machinery Market – Macro Economic Scenario

5. Construction Machinery Market Size And Growth

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26. Africa Construction Machinery Market

27. Construction Machinery Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Construction Machinery Market

29. Construction Machinery Market Future Outlook and Potential Analysis

30. Appendix

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