According to the research report titled  ‘North America Construction Equipment Market Size, By Product Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Repot LLC, North America construction equipment market is expected to reach a valuation of USD 33 billion by the year 2026.
 

Flourishing construction sector along with inclination towards renovating & maintaining age-old infrastructure are some of the key factors driving the growth of North America construction equipment market. Favorable federal initiatives which encourage infrastructural development is also aiding the market expansion.
 

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Concerns regarding increasing pollution levels in consort with rising adoption of fuel-efficient as well as advanced construction machines in an effort to reduce the carbon-footprint are adding traction to construction equipment industry size in North America.
 

However, the advent of COVID-19 pandemic has resulted in economic and financial losses, which has compelled major companies to opt for renting construction equipment instead of making asset investments, plummeting the equipment sales, thereby negatively impacting the overall market outlook.
 

Based on product spectrum, North America construction equipment market is segmented into concrete equipment, material handling & cranes, and earthmoving & roadbuilding equipment. The concrete equipment segment is further bifurcated into batching plants, asphalt pavers, transit mixers, crushers, and concrete pumps.
 

The material handling & cranes segment is also split into bulk material handling equipment, industrial trucks, engineered systems, and storage & handling equipment. While the earthmoving & roadbuilding equipment segment is classified into compaction equipment, loader, excavator, backhoe, and others.
 

The report claims that that North America construction equipment market size from earthmoving & roadbuilding segment is expected to grow significantly during the study period, primarily driven by consumer preference for adopting automated construction equipment in a bid to achieve better quality results and productivity. Additionally, development of advanced construction equipment which are equipped with AI and IoT technologies are is fueling the segmental share.
 

Considering the geographical landscape, Canada construction equipment market is likely to generate substantial returns in the subsequent years. Increasing construction of residential and commercial establishments owing to high inflow of immigrants along with supportive regulatory outlook are positively impacting the business scenario in Canada.
 

The prominent companies in North America construction equipment industry are Zoomlion, Doosan Group, Volvo Construction Equipment, Terex Corporation, Sany Heavy Industry Co. Ltd., XCMG Group, Liebherr Group, Komatsu Ltd., The Manitowoc Company Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., J.C.B. Excavators Limited, and Caterpillar Inc. among others.