Earthmoving Equipment Industry: Insights and Outlook 2023-2030
Earthmoving Equipment Industry The global earthmoving equipment industry size stood at USD 85.8 billion in 2022 and is poised to depict a CAGR of 6.7% from 2023 to 2030, according to " Earthmoving Equipment Industry Data Book, 2023 – 2030 ," published by Grand View Research. While an exponential rise in construction activities has spiked equipment demand, it is the emergence of environmentally friendly services, electro mobility, digitization, autonomous machinery and telematics that has unlocked opportunities galore for stakeholders. The footprint of 5G technology has streamlined remote operations of heavy equipment, prompting forward-looking players to invest in bespoke solutions across excavators, loaders and dumpers. Bullish demand for modern and advanced infrastructure has made excavators one of the most ubiquitous pieces of equipment. Expanding applications in heavy lifting, excavation, landscaping, demolition, mining, grading and dredging have furthered the pen...