Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Hybrid Construction Equipment Market size is anticipated to grow at substantial growth rate during the forecast period i.e., between 2025-2037.
The growth of the market can be attributed to the growing need for residential and commercial space for the increasing population combined with the rising awareness towards environmental conservation. According to the statistics by the World Bank, the global population exceeded 7.674 billion in 2019. Moreover, 55.715% of the world population were living in urban areas as of 2019. The growing need for building houses in the cities to accommodate large population migrating towards the urban areas, is also estimated to act as the major growth driver for the market. Moreover, the urban population, which grew by 1.887% in the year 2019, as per the other statistics by the World Bank, is also anticipated to promote the market growth throughout the forecast period.
Additionally, rising concerns for environmental conservation on a global level is further anticipated to encourage the growth of the market. The environmentally friendly hybrid technology of the construction equipment reuses the energy during the operations which significantly helps to conserve fuel and optimize vehicle performance. As a result, these equipment emit significantly lower amount of unburnt carbon as compared to the conventional construction equipment.
Hybrid Construction Equipment Sector: Growth Drivers and Challenges
Growth Drivers
- Rise in Construction Activities owing to Rapid Urbanization
- Growing Awareness regarding Carbon Emission from Heavy Vehicles
Challenges
- Higher Costs of Hybrid Construction Equipment
Hybrid Construction Equipment Segmentation
The market is bifurcated on the basis of end-user into large-scale enterprises and small- & medium-scale enterprises, out of which, the large-scale enterprises segment is predicted to hold the highest market share by the end of 2029, as these enterprises can easily afford the construction equipment.
The market is also segmented by type into excavators, graders, compactors, loaders, dump trucks, and others, out of which, the excavators segment is projected to hold the largest market share by the end of 2029. The growth of the segment can be attributed to the increasing availability of hybrid excavators offered by different market players, along with the fact that the excavators are the most widely used construction equipment owing to their multifunctional properties.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By End–User |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Hybrid Construction Equipment Industry - 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 industry is estimated to account for largest revenue share by 2037, 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.
Asia Pacific market is anticipated to witness significant CAGR during the forecast period, owing to the surge in urbanization backed by the migration
Companies Dominating the Hybrid Construction Equipment Landscape
- 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
- Report ID: 2957
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
- Get detailed insights on specific segments/region
- Inquire about report customization for your industry
- Learn about our special pricing for startups
- Request a demo of the report’s key findings
- Understand the report’s forecasting methodology
- Inquire about post-purchase support and updates
- Ask About Company-Level Intelligence Additions
Have specific data needs or budget constraints?
Inquiry Before BuyingFrequently Asked Questions (FAQ)
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Connect with our Expert
