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Construction Equipment Rental & Leasing Is Fastest Growing Segment Fueling Growth Of U.S. Heavy Duty Construction Equipment Market

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samruddhicmi12
Construction Equipment Rental & Leasing Is Fastest Growing Segment Fueling Growth Of U.S. Heavy Duty Construction Equipment Market

The Global U.S. Heavy Duty Construction Equipment Market is estimated to be valued at US$ 79.09 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Heavy construction equipment are essential for excavation, earthmoving, lifting and material handling in construction sites. Heavy equipment like excavators, loaders, cranes, dozers, and pavers help improve productivity and efficiency of construction projects.

Market key trends:

One of the major trend driving market growth is construction equipment rental & leasing. Owing to high initial capital cost of heavy construction equipment, rental services have become popular alternative. Construction equipment rental allows contractors and builders to have access machinery only when required without ownership costs. Moreover, rental fleet offers latest equipment with advanced technology. This trend is particularly prominent among small construction businesses in the U.S.

Segment Analysis

The U.S. heavy duty construction equipment market is segmented based on equipment type, application and regional markets. The equipment type segment includes earthmoving equipment, material handling equipment, heavy construction vehicles and other equipment. Earthmoving equipment dominates the overall market with over 40% share. Growing infrastructure development activities such as road construction, railways, commercial spaces, bridges have spurred the demand for heavy earthmoving machinery like excavators, loaders, backhoe loaders, motor graders and bulldozers in the country.

Key Takeaways

The Global U.S. Heavy Duty Construction Equipment Market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing government investment in infrastructure development and urbanization.

Regional analysis

The western region dominates the overall U.S. heavy duty construction equipment market, accounting for over 30% share of the country's market revenues. Rising commercial construction activities in states like California, Texas and new infrastructure projects related to transportation are fueling the demand for construction machinery in this region.

Key players

Key players operating in the U.S. Heavy Duty Construction Equipment Market are Atlas Copco, Caterpillar, Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore, Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Americas, Inc., J C Bamford Excavators Ltd. (JCB), Komatsu America Corp., Liebherr Group, Sany Heavy Industries Co. Ltd, Terex Corporation, Ahern Rentals, Herc Rentals Inc., and United Rentals, Inc. Caterpillar, Komatsu and Deere are dominant players with wide range of product portfolio and market coverage across various states.


Explorer more information on this topic, Please visit @ https://www.marketwebjournal.com/growth-in-the-u-s-heavy-duty-construction-equipment-market-share

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