Earthmoving equipment market size is projected to reach USD 192.45 billion by 2023.
The increasing demand for technologically advanced solutions is expected to propel the market worldwide and the favorable Government and private initiatives and growing transport infrastructure development worldwide will drive the global market size.
Europe earthmoving equipment market share will remain steady, with revenue forecast to exceed 43 billion in predicted timeframe.
The construction industry is predicted to maintain its dominance, with more than 60% of the Earthmoving machinery market share. Rising demand in factories and manufacturing facilities will drive the excavator segment growth. Obtaining construction equipment on rent or lease is a rising trend. The construction equipment rental market is predicted to exceed USD 85 billion 2023.