Selbyville, Delaware, March 16, 2022 (GLOBE NEWSWIRE) —
The construction site preparation equipment market is expected to surpass USD 1.6 billion by 2028, as reported in a research study by Global Market Insights Inc. The rising number of commercial construction projects, such as stadiums, warehouses, IT parks, academic buildings, and transport stations, across the globe is propelling the demand for construction site preparation equipment.
Government initiatives to support infrastructure development and innovations in transportation & logistics sectors provide a favorable outlook for the regional industry. For instance, in January 2021, STRABAG SE and Johann Bunte were awarded a contract to widen a stretch of the A1 Autobahn that includes carriageways & bridge construction in Germany.
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The construction site preparation equipment market experienced a significant decline in growth due to COVID-19 pandemic in 2020. To reduce the virus spread, government authorities introduced stringent lockdown protocols and travel restrictions. In addition, to avoid the COVID-19 spread among colleagues or co-workers, they had announced a temporary closure of manufacturing facilities, hampering the equipment sale.
The handheld auger is a spiral-shaped tool that is utilized to drill holes in the ground & other materials or surfaces, supporting their market growth. Industry players are focusing on introducing new augers to attract potential business clients. For instance, in December 2021, Makita UK, a power toll manufacturer, launched a new cordless earth auger with maximum drilling up to 200mm with a torque of 136 nm.
The demand for construction site preparation equipment is increasing in Asia Pacific owing to urbanization and the growing population base. The increasing number of residential & commercial infrastructure projects led by a surge in government investments is boosting the market demand. For instance, in the Union Budget 2022 of India, the government declared that USD 6,081.3 million will be provided in 2022-23 for the completion of eight million houses as a part of the PM Awas Yojana.
Industry participants in the construction site preparation equipment market are adopting different marketing strategies to improve their market representation. For instance, in March 2020, STIHL Inc. opened its online website, allowing customers to purchase its range of products from different categories.
Some major findings in the construction site preparation equipment market report include:
- The demand for construction site preparation equipment will increase in North America impelled by the surge in residential development activities and the introduction of single-family housing projects.
- The Europe construction site preparation equipment market is supported by the government’s focus on the development of green infrastructure as part of its climate change strategy. The European government is assisting municipalities by financing the development & implementation of integrated smart city programs.
- The growing population in the Asia Pacific region is creating the need for better infrastructures, such as houses, airports, schools, stadiums, hospitals, and government buildings, supporting the industry statistics.
- Growing industrialization & urbanization trends in Latin America are encouraging the expansion of residential & commercial development projects, creating a positive market outlook.
- The construction site preparation equipment industry growth is supported by government investments in transport, energy, residential, telecommunication, and industrial projects in the MEA region Additionally, government’s support for the infrastructure development of businesses and Small & Medium Enterprises (SMEs) is fueling the construction site preparation equipment market expansion.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Construction site preparation equipment industry 3600 synopsis, 2018 – 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
Chapter 3 Construction Site Preparation Equipment Industry Insights
3.1 Impact of COVID-19 pandemic
3.1.1 Global outlook
3.1.2 Impact by region
188.8.131.52 North America
184.108.40.206 Asia Pacific
220.127.116.11 Latin America
3.2 Industry ecosystem analysis
3.3 Technology & innovation landscape
3.3.1 Lithium ion battery
3.3.2 CAD/CAM software
3.4 Regulatory landscape
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls and challenges
3.6 Growth potential analysis
3.7 Porter’s analysis
3.8 PESTLE analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.