$50+ Billion Heavy Construction : The “US Heavy Construction Equipment Market Forecast to 2027 – COVID-19 Impact and Country Analysis By Type, Application, and Industry (Construction, Oil and Gas, Mining, Manufacturing, and Others)” report has been added to ResearchAndMarkets.com’s offering.
US Heavy Construction Equipment market is expected to reach US$ 52,477.6 million by 2027 from US$ 38,382.5 million in 2019; it is estimated to grow at a CAGR of 6.2% from 2020 to 2027.
Excavators Segment to Dominate US Heavy Construction Equipment Market during 2020-2027
With rising demand from contractors and industrial end users, the adoption of excavators in mining, construction (road and building), and demolitions is rising. Crawler excavators, dragline excavators, wheeled excavators, suction excavators, and long reach excavators are among popular excavators used by mentioned industries.
Companies are taking necessary step in respect to product launch which is contributing towards the market growth. For instance, in December 2020, Doosan presented its largest and most powerful excavators for the construction and mining industry. The company has expanded its excavator product line by introducing new Doosan DX800LC-7 excavator for heavy construction, mining, and infrastructure work.
US heavy construction equipment market for excavators’ segment is expected to grow in the country over the years.
CASE Construction Equipment, John Deere, Caterpillar, Volvo Construction Equipment, and Doosan are among the leading companies operating in the US heavy construction equipment market. The companies are adopting organic growth strategies, such as product launch, to sustain their position in the dynamic market.
For Instance, in 2020, AB Volvo launched new compactor DD128C, which features 2,000 mm (79 in) wide drum with chamfer and radii drum edges. The DD128C is powered by an advanced 110 kW (148 hp) Volvo D4 Tier 4 Final engine. Similarly, in the same year Doosan Corporation launched its most powerful 539 hp heavy duty excavator, DX800LC-7 for construction and mining application.
The DX800LC-7’s unique double-boom foot design improves stress distribution to reduce single-side wear and maintain machine uptime.
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