The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
This newly published and insightful report sheds light on Market Insights of Construction Telescopic Handlers, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Construction Telescopic Handlers Market.
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Demand for construction equipment will increase over the coming years as government spending on infrastructure development projects in developed and developing countries is rising, which is expected to drive the growth of the global construction equipment attachment market. Furthermore, government initiatives to build bridges, dams, railways, and highways as part of the creation of smart cities in areas of energy, mobility and government will increase demand for building equipment, further boosting demand for construction equipment attachments.
The global construction equipment attachment market is poised to expand at a value CAGR of 2.4%, and is expected to create an absolute dollar opportunity of US$ 1.4 Bn over the forecast duration of 2020-2030.
Key Takeaways from Construction Equipment Attachment Market Study
- Under the impact of COVID-19, the global construction equipment attachment market is expected to reach a market valuation of US$ 5.8 Bn by the end of 2020, and is anticipated to surpass a valuation of US$ 6.7 Bn by the end of 2030.
- The skid steer loader buckets segment is foreseen to grow 1.5X by 2030. On the other hand, telehandler attachments will account for 21% market share of all telescopic handler attachments during the forecast period.
- Attachments for telescopic handlers are projected to create an absolute $ opportunity of US$ 430 Mn from 2020 and 2030.
- By sales channel, aftermarket sales are estimated to account for 42% of the total sales in 2020, and are anticipated to create an absolute $ opportunity of more than US$ 1.Bn during the forecast period.
- By region, Asia is expected to emerge as the most lucrative region in the global construction equipment attachment market, and is projected to surpass a market valuation of US$ 2.3 Bn by the end of 2030.
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“The COVID-19 pandemic has hit the construction equipment attachment market hard on the demand side, causing a decline in sales. Post pandemic, increase in government spending on new projects coupled with increasing spending in construction activities is predicted to open new growth avenues for players in the construction equipment attachment market,”says a Fact.MR analyst.
Industry Players Focusing on Product Launches to Stimulate Growth
Key players in the construction equipment attachment market are Caterpillar Inc., Komatsu Ltd., Doosan Corporation, Volvo Construction Equipment, Kubota Corporation, CNH Industrial N.V, Hitachi Construction Machinery, Wacker Neuson SE, Paladin Attachments, and others. Prominent manufacturers are focusing on acquisitions and partnerships in order to broaden their customer base and gain a competitive edge over other players. For instance,
- Paladin Attachments introduced a latest model in collection sweepers from Sweepster, the SB215.
- In 2018, John Deere and Wacker Neuson joined forces in a bid to increase excavator sales in the Asia Pacific region. The agreement was to boost sales of mini and compact excavators in key growth markets, particularly China, Australia, and other countries in Southeast Asia, which is further foreseen to reinforce the demand for construction equipment attachments in the region.
Key Segments of Construction Equipment Attachment Market
Fact.MR’s study on the construction equipment attachment market offers information divided into three key segments— attachment, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Attachment
- Skid Steer Loaders
- Buckets
- Augers
- Grapples
- Hammers
- Dozer Blades
- Snow Pushers
- Snow Blades
- Pallet Forks
- Breakers
- Sweepers
- Quick Couplers
- Planers
- Backhoes
- Graders
- Compact Track Loaders
- Buckets
- Augers
- Grapples
- Hammers
- Dozer Blades
- Snow Pushers
- Snow Blades
- Pallet Forks
- Breakers
- Sweepers
- Quick Couplers
- Planers
- Backhoes
- Graders
- Mini Excavators
- Buckets
- Augers
- Grapples
- Breakers
- Rippers
- Pallet Forks
- Quick Couplers
- Telescopic Handlers
- Buckets
- Augers
- Grapples
- Pallet Forks
- Sweepers
- Snow Pushers
- Snow Blades
- Trenchers
- Dozer Blade
- Quick Couplers
Sales Channel
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Question answered in the survey of Construction Telescopic Handlers market report:
- Sales and Demand of Construction Telescopic Handlers
- Growth of Construction Telescopic Handlers Market
- Market Analysis of Construction Telescopic Handlers
- Market Insights of Construction Telescopic Handlers
- Key Drivers Impacting the Construction Telescopic Handlers market
- Which are the Key drivers impacted by Construction Telescopic Handlers market
- Restraints Shaping Market Growth
- Market Survey of Construction Telescopic Handlers
More Valuable Insights on Construction Telescopic Handlers Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Construction Telescopic Handlers, Sales and Demand of Construction Telescopic Handlers, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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