Agriculture, construction and mining machinery refers to the equipment and machinery used in the agriculture, construction and mining industries.
The agriculture, construction and mining machinery market consists of sales, by entities (organizations, sole traders and partnerships) of agriculture, construction and mining machinery that refers to a wide range of specialized machines designed to perform specific tasks within agricultural, construction and mining industries.
The global agriculture, construction and mining machinery market was valued at $575.61 billion in 2018 to which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.00%.
Rising Demand From The Agricultural Industry
Rising demand from the agricultural industry drove the agriculture, construction and mining machinery market during the historic period. The agricultural industry encompasses the cultivation, processing and distribution of crops, livestock and other products derived from farming and related activities, contributing to food production, rural economies and global trade. Demand in the agricultural industry is rising, due to the need for increased efficiency, productivity and automation, to meet growing food demands and optimize farming operations. Machinery in the agricultural industry enables efficient cultivation, harvesting and processing of crops, enhancing productivity and facilitating modern farming practices. For instance, according to CEIC, a UK-based provider of economic data, the number of large and medium (LM) tractors in China reached 5,253,595 units in 2022, marking an increase from 4,980,682 units in 2021. Therefore, rising demand from the agricultural industry drove the agriculture, construction and mining machinery market.
Focus On Innovative Products To Drive Revenue In The Market
Major companies in the agriculture, construction and mining machinery market are focusing on developing innovative products to drive their revenue in the market. Companies can differentiate themselves in the market and capture additional revenue opportunities by offering innovative products that meet the evolving needs of customers. For example, in May 2023, XCMG, a China-based construction machinery manufacturing company, launched the XDR80TE-AT Autonomous Electric Dump Truck. This autonomous electric mining truck has a function called remote control mode, which uses the sensor to send data back to the remote cockpit via 5G technology, giving the driver a realistic driving experience. After the truck is in fully autonomous mode, artificial intelligence (AI) will take control and plan the route and destination based on the mine's output schedule.
The global agriculture, construction and mining machinery market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 37.59% of the total market in 2023.
Agriculture, Construction And Mining Machinery Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global agriculture, construction and mining machinery market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for agriculture, construction and mining machinery? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The agriculture, construction and mining machinery market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider agriculture, construction and mining machinery market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by operation and by capacity.
- Product Analysis- The product analysis section of the report describes the leading products in the agriculture, construction and mining machinery market, along with key features and differentiators for those products.
- Supply Chain- The supply chain section of the report defines and explains the key players in the agriculture, construction and mining machinery industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global agriculture, construction and mining machinery market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the agriculture, construction and mining machinery market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by operation and by capacity in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for agriculture, construction and mining machinery providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Construction Machinery; Agricultural Implement; Mining And Oil And Gas Field Machinery
- 2) By Operation: Autonomous; Semi-Autonomous; Manual
- 3) By Capacity: Small; Medium; Large
- Companies Mentioned: AB Volvo; Deere & Company; Caterpillar Inc.; CNH Industrial N.V.; Atlas Copco AB
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia; Czech Republic; Poland; Romania; Ukraine; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Egypt; Nigeria; South Africa; Iran; Israel; Saudi Arabia; Turkey; UAE; Argentina; Chile; Colombia; Peru; Canada; Mexico; Vietnam; Thailand; Singapore; Philippines; New Zealand; Malaysia; Hong Kong
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; agriculture, construction and mining machinery indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.