Pune, June 18, 2020 (GLOBE NEWSWIRE) — The global construction equipment market size is projected to reach USD 186.42 billion by the end of 2026. The increasing investment in the development of efficient products, coupled with the rising applications of these equipment, will bode well for the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Construction Equipment Market Size, Share and Industry Analysis By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, and others), By Application (Residential, Commercial, Industrial), and Regional Forecast, 2019-2026,” the market was worth USD 128.46 billion in 2018 and will exhibit a CAGR of 4.8% during the forecast period, 2019-2026.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you