Construction equipment engines market forecasted to driven by infrastructure projects

The Construction Equipment Engines Market is projected to grow from US$23.9 billion in 2022 to US$39.1 billion by 2032, at a CAGR of 5.2%. Key growth drivers include increasing infrastructure projects, demand for fuel-efficient and environmentally friendly engines, and post-pandemic recovery.

Challenges include raw material price volatility and stringent emission regulations. The market sees opportunities in hybrid and electric engines and the integration of IoT (Internet of Things) for maintenance. Major players include Caterpillar Inc., DEUTZ AG, and John Deere.

28 Jun 2024 reported by Machinery News