Dublin--(BUSINESS WIRE)--"By type (excavator-track and small, loader-backhoe, skid steer, wheel, bulldozer, dump truck), electric equipment, propulsion, power output, application , Rental, Post-Processing Equipment and Regions-Forecast to 2026" report has been added to ResearchAndMarkets.com's products.
It is estimated that by 2026, the global construction equipment market will increase from US$208.3 billion in 2021 to US$250.4 billion, with a compound annual growth rate of 3.8% during the forecast period.
The increase in infrastructure investment after the COVID-19 pandemic has promoted the growth of the market, which may stimulate the demand for construction equipment. It is expected that the increase in urban infrastructure investment will promote the development of the construction industry, which is expected to promote the development of construction equipment. The market during the period.
The CNG/LNG/RNG market in the construction equipment market has become the fastest growing market
Natural gas is more environmentally friendly than diesel and gasoline. It produces a 25% reduction in sulfur, nitrogen and carbon pollutants. Natural gas is mainly composed of methane and contains trace amounts of ethane, propane, butane and nitrogen. Natural gas engines burn cleaner than other engines and are slightly different from diesel engines. Natural gas engines also produce less noise and vibration, thereby improving operator comfort.
Liquefied natural gas (LNG) is mainly methane, which is converted into liquid form by cooling. Renewable natural gas (RNG) is a type of natural gas made from organic waste, such as food waste, garden and lawn waste, and animal and plant waste. It is also made from degraded carbon waste such as paper, cardboard and wool. Biogas is produced from organic waste, cleaned and adjusted to remove non-methane elements.
According to the California Resources Commission, RNG from food and green waste transferred from landfills can reduce greenhouse gas emissions by 125%, and RNG from dairy manure can reduce greenhouse gas emissions by 400% when replacing traditional automobile fuels. It produces 70% less greenhouse gases than diesel or gasoline, making it the most environmentally friendly fuel. Compared with diesel and gasoline, it is also very economical. Natural gas is the most promising alternative fuel for construction equipment. The construction companies that provide compressed natural gas-powered construction equipment are Caterpillar and JCB.
The Asia-Pacific market plays a very important role in the growth of the construction equipment market
In terms of value and volume, the Asia-Pacific region is expected to have the largest market share. The construction equipment market has experienced growth in the number of projects such as dams, airports, and hydropower projects, so many international companies have opened manufacturing plants in the region. Some man-made miracles and outstanding construction projects such as Beijing New International Airport (China) and the South-to-North Water Diversion Project (China) have been established in this area. It is estimated that this region is the most populous region in the world, which creates a huge opportunity for the growth of the construction equipment market.
The market research covers the construction equipment market based on equipment type, electric construction equipment by equipment type, equipment category, application, construction equipment rental market by application, emission supervision stage by post-processing device, promotion type, power output , Engine capacity, and region. It also covers the competitive landscape and company profiles of the major players in the construction equipment market ecosystem.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900