North America: Heavy Construction Equipment Market: Introduction
The discovery of heavy equipment has proven to be backbone for construction industry. Since last decade, the construction companies have grown tremendously after coming into the existence of heavy construction equipment. The actual reason behind this invention was reducing the labor cost and time. The heavy construction equipmentare majorly used in the operations of earthmoving, transportation, lifting, and material handling and so on. North America has already proven itself a big giant in construction industry and has been a major market for this industry.
Considering North America, the US and Canada will be the key forecasting areas.
Growing industries such as oil and gas, manufacturing, mining, military etc. has been a major source of revenues to the construction industries since they start using of heavy equipment. The global heavy construction equipment has expected to grow at a CAGR of XX% from 2016 to 2027.
Market Growth Influencer
North America is considered to be a matured economy in terms of construction industry and considered to be the second largest market in construction industry. Because of the tag of emerged economy and high disposable income North America has become a matured market for construction industry and generated the revenue of about XX billion US dollars which is quiet impressive.
The US has propelled to be a growing market because of the huge investment in the real estate sector. Since decade, there has been a huge demand coming from commercial as well as residential segment. Considering commercial purpose, the US government has taken initiative to increase the construction of dams, airports, roads and bridges which has become a major revenue generation for construction industries.
Followed by the US, Canada is considered to be the matured market for heavy construction equipment. As the country’s market condition is very sound and huge investment has taken place since decade.
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North America: Heavy Construction Equipment Market: Market Segmentation
For the purpose of this study, Market Research Future has segmented the North America: Heavy Construction equipment Market into type, applications and by end users.
On the basis of types, the North America: Heavy Construction equipment Market in classified into
Material Handling Equipment
Heavy Construction Vehicles
Others (Cranes, Excavator, Dozer)
On the basis of applications, the North America: Heavy Construction equipment Market in classified into
Mining & Excavation
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