U.S. Construction Equipment Market Size by Volume to Reach 191,836 Units by 2027 - Arizton

CHICAGO, Dec. 2, 2021 /PRNewswire/ -- The U.S. construction equipment market is expected to grow at a CAGR of 6.23% during the period 2021−2027

Key Highlights Offered in the Report: 

• The US construction equipment market is estimated to reach revenues of USD 32.68 billion by 2027.
• The demand for construction equipment in the US is primarily attributed to the strong government support for technologically advanced equipment in manufacturing, energy and power, transportation, hybrid vehicles, and other industries.
• The US government has increased construction spending from USD 1,391 billion in 2019 to USD 1,469 billion in 2020 (6%) to aid the recovery of the US economy. Thus, investments in several infrastructure projects, such as INFRA Extra and Bipartisan Infrastructure Framework, are expected to spur the construction equipment market.
• Construction equipment, such as wheel loaders, backhoe loaders, excavators, motor graders, and all-terrain forklifts are used extensively by arms manufacturers and armed forces for military operations. In FY 2020, Foreign Military Sales (FMS) rose to USD 54 billion from USD 51 billion in FY 2019. Hence, growth in US arms exports is likely to boost the construction equipment market.
• The US government's focus on sustainable development has propelled the demand for aluminum in the country as the metal is extensively used in clean-air power technologies.  In 2020, the production of primary aluminum in the US increased by 37.6% compared to the preceding two-year period. Several mining companies in the US are expected to capitalize on the growing usage of primary aluminum. This will drive the demand for construction equipment, such as excavators, wheel loaders, backhoe loaders, bulldozers, graders, and pavers which are extensively used in mining.
• The FDI inflows in the US increased from USD 4.44 trillion at the end of 2019 to USD 4.63 trillion at the end of 2020, which was a rise of USD 187.2 billion. Several tax reforms are expected to benefit the US corporations. For instance, an American company that makes a physical investment abroad will not have to pay a US tax on the first 10% return on foreign investment.

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