Overview and Scope
The agriculture, construction, and mining machinery refer to machinery that is designed for use in the agriculture, construction, and mining industries.
Sizing and Forecast
The agriculture, construction, and mining machinery market size has grown strongly in recent years. It will grow from $732.9 billion in 2023 to $790.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to global population growth, rise in mechanized agriculture, urbanization, mining exploration and extraction, environmental regulations, globalization and trade.
The agriculture, construction, and mining machinery market size is expected to see strong growth in the next few years. It will grow to $1055.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to advancements in autonomous machinery, infrastructure development projects, circular economy practices, energy-efficient construction practices, focus on safety standards. Major trends in the forecast period include emission control technologies, human-machine collaboration, customization for specific industries, electric and hybrid solutions, mining automation and robotics.
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The agriculture, construction, and mining machinery market covered in this report is segmented –
1) By Type: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery
2) By Operation: Autonomous, Semi-Autonomous, Manual
3) By Capacity: Small, Medium, Large
Subsegments Covered: Earthmoving, Material Handling, Building & Road Construction Equipment, Farm Machinery And Equipment, Sanitary Paper Product, Stationery Products, Paper Bag And Coated And Treated Paper, Oil & Gas Field Machinery And Equipment, Mining Machinery And Equipment
The Asia-Pacific was the largest region in the agriculture, construction, and mining machinery market in 2023. Western Europe was the second largest region in the agriculture, construction, and mining machinery market. The regions covered in the agriculture, construction, and mining machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The agriculture, construction, and mining machinery manufacturing market growth are aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% in 2022. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
Key Industry Players
Major companies operating in the agriculture, construction, and mining machinery market report are LG Electronics Inc., Caterpillar Inc., Deere & Company, Zoomlion Heavy Industry Science and Technology Co. Ltd., Volvo AB, EXOR Group, Komatsu Ltd., Case New Holland, CNH Industrial NV, Scania AB, Kubota Corp., Mahindra & Mahindra Limited, Liebherr Group, Atlas Copco AB, AGCO Corporation, Massey Ferguson Limited, Sauer-Danfloy GmbH, Alamo Group Incorporated, Sany Group, Astec Industries Inc., Kawasaki Motors Corporation, Berco S.p.A., Scyscaps, Ascom Group S.A., Poclain S.A., Bennington Company, Bomag GmbH, Seppi, SampoRlei SpA, Schnieder-Werkerle GmbH
The agriculture, construction, and mining machinery market report table of contents includes:
1. Executive Summary
2. Agriculture, Construction, And Mining Machinery Market Characteristics
3. Agriculture, Construction, And Mining Machinery Product/Service Analysis -Product/Service Examples
4. Agriculture, Construction, And Mining Machinery Market Trends And Strategies
………….
68. Global Agriculture, Construction, And Mining Machinery Market Competitive Benchmarking
69. Global Agriculture, Construction, And Mining Machinery Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Agriculture, Construction, And Mining Machinery Market
71. Agriculture, Construction, And Mining Machinery Market Future Outlook and Potential Analysis
72. Appendix
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