Hybrid Construction Equipment Market

Segmentation by Type (Excavators, Graders, Compactors, Loaders, Dump Trucks, and Others); and by End-User (Large-, and Small- & Medium-Scale Enterprises) - Global Demand Analysis and Market Opportunity Outlook 2029

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Report ID: 2957 | Published On: Feb 13, 2023
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 Market Segmentation

Our in-depth analysis of the global hybrid construction equipment market includes the following segments:

By Type

  • Excavators
  • Bull dozers
  • Trenchers
  • Others
  • Loaders
  • Graders
  • Dump trucks
  • Compactors
  • Others

By End–User

  • Large-Scale Enterprises
  • Small- and Medium-Scale Enterprises

Growth Drivers

  • Rise in Construction Activities owing to Rapid Urbanization
  • Growing Awareness regarding Carbon Emission from Heavy Vehicles


  • Higher Costs of Hybrid Construction Equipment

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Global Hybrid Construction Equipment Market Regional Synopsis

Regionally, the global hybrid construction equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The market in the North America is estimated to garner the highest revenue in the market during the forecast period, on the back of constantly rising construction activities in the region. The United States is the largest construction market in the world, with expenditure amounting to more than USD 1 billion. As of 2020, the construction industry holds over 4% of the GDP in the U.S. Moreover, the rising migration to urban areas and infrastructural development of sub-urban areas is projected to generate opportunities for the market growth. As per the statistics by the World Bank, 82.362% of the total population of North America lived in urban settlements, in the year 2019.

Asia Pacific market is anticipated to witness significant CAGR during the forecast period, owing to the surge in urbanization backed by the migration towards urban areas, population expansion and infrastructural development in the region.

The global hybrid construction equipment market is further classified on the basis of regions as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

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Top Featured Companies Dominating the Market

    • Hitachi Construction Machinery Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Caterpillar Inc.
    • Komatsu Ltd.
    • Deere & Company
    • AB VOLVO
    • Kobelco Construction Machinery Co. Ltd.
    • Takeuchi Mfg. Co. Ltd.
    • Groupe Mecalac S.A.S.
    • Cummins Inc.
    • SANY Group

In The News

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Hybrid Construction Equipment market?

Ans: Worldwide increase in infrastructure development activities along with rising environmental awareness are some of the major factors driving the market growth.

2) What would be the CAGR of Hybrid Construction Equipment market over the forecast period?

Ans: The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021-2029.

3) What are the challenges affecting the Hybrid Construction Equipment market growth?

Ans: High price of hybrid construction equipment is one of the major factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of Hybrid Construction Equipment market in future?

Ans: The market in North America will provide the highest growth opportunities throughout the forecast period on the back of rising construction activities in the region.

5) Who are the major players dominating the Hybrid Construction Equipment market?

Ans: The major players in the market are Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., Komatsu Ltd., Deere & Company, AB VOLVO, Kobelco Construction Machinery Co. Ltd., Takeuchi Mfg. Co. Ltd., Cummins Inc., SANY Group, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the hybrid construction equipment market?

Ans: The market is segmented by type, end-user, and by region.

8) Which sub-segment under type segment captures the largest market size in the hybrid construction equipment market?

Ans: The excavators segment is anticipated to hold the largest market size by the end of 2029, owing to the increasing availability of these excavators in the market, backed by their multifunctional uses.

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