Demand for construction equipment will increase over the coming years as government spending on infrastructure development projects in developed and developing countries is rising, which is expected to drive the growth of the global construction equipment attachment market. Furthermore, government initiatives to build bridges, dams, railways, and highways as part of the creation of smart cities in areas of energy, mobility and government will increase demand for building equipment, further boosting demand for construction equipment attachments.
The global construction equipment attachment market is poised to expand at a value CAGR of 2.4%, and is expected to create an absolute dollar opportunity of US$ 1.4 Bn over the forecast duration of 2020-2030.
Key Takeaways from Construction Equipment Attachment Market Study
- Under the impact of COVID-19, the global construction equipment attachment market is expected to reach a market valuation of US$ 5.8 Bn by the end of 2020, and is anticipated to surpass a valuation of US$ 6.7 Bn by the end of 2030.
- The skid steer loader buckets segment is foreseen to grow 1.5X by 2030. On the other hand, telehandler attachments will account for 21% market share of all telescopic handler attachments during the forecast period.
- Attachments for telescopic handlers are projected to create an absolute $ opportunity of US$ 430 Mn from 2020 and 2030.
- By sales channel, aftermarket sales are estimated to account for 42% of the total sales in 2020, and are anticipated to create an absolute $ opportunity of more than US$ 1.Bn during the forecast period.
- By region, Asia is expected to emerge as the most lucrative region in the global construction equipment attachment market, and is projected to surpass a market valuation of US$ 2.3 Bn by the end of 2030.
“The COVID-19 pandemic has hit the construction equipment attachment market hard on the demand side, causing a decline in sales. Post pandemic, increase in government spending on new projects coupled with increasing spending in construction activities is predicted to open new growth avenues for players in the construction equipment attachment market,”says a Fact.MR analyst.
Key Segments of Construction Equipment Attachment Market
Fact.MR’s study on the construction equipment attachment market offers information divided into three key segments— attachment, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Attachment
- Skid Steer Loaders
- Buckets
- Augers
- Grapples
- Hammers
- Dozer Blades
- Snow Pushers
- Snow Blades
- Pallet Forks
- Breakers
- Sweepers
- Quick Couplers
- Planers
- Backhoes
- Graders
- Compact Track Loaders
- Buckets
- Augers
- Grapples
- Hammers
- Dozer Blades
- Snow Pushers
- Snow Blades
- Pallet Forks
- Breakers
- Sweepers
- Quick Couplers
- Planers
- Backhoes
- Graders
- Mini Excavators
- Buckets
- Augers
- Grapples
- Breakers
- Rippers
- Pallet Forks
- Quick Couplers
- Telescopic Handlers
- Buckets
- Augers
- Grapples
- Pallet Forks
- Sweepers
- Snow Pushers
- Snow Blades
- Trenchers
- Dozer Blade
- Quick Couplers
Sales Channel
- OEMs
- Aftermarket
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Manufacturers are investing significantly in research & development of new attachments that have high strength, durability, and increase the efficiency of construction equipment. Increasing adoption of automation in construction machines has led to demand for advanced attachment tools that reduce operational costs and increase worker safety.
