Lucintel Forecasts Smart Construction Equipment Market to Reach $XX Billion by 2028
According to the recent study the smart construction equipment market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing construction and infrastructure investments, adoption of advanced construction equipment and rising adoption of technologically advanced construction machinery.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in smart construction equipment market by equipment type (earthmoving, material handling equipment & cranes, concrete, road building, civil engineering, crushing & screening, and others), application (residential, commercial, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Material handling equipment & cranes market is expected to remain the largest segment during the forecast period.”
Based on equipment type, the smart construction equipment market is segmented into earthmoving, material handling equipment & cranes, concrete, road building, civil engineering, crushing & screening, and others. Lucintel forecasts that the material handling equipment & cranes market is expected to remain the largest segment due to the rising infrastructure projects worldwide and increasing urban population.
“Within the smart construction equipment market, the residential segment is expected to remain the largest application”
Based on application the residential segment is expected to witness the highest growth over the forecast period due to the growing number of housing projects in the emerging nations and increasing construction activities in response to rapid urbanisation.
“North America will dominate the smart construction equipment market in near future”
North America will remain the largest regio