Nowadays, it is amazing how fast the cost of the global equipment market is increasing. The latest report in 2020 shows that it has exceeded 136 billion dollars. The causes of this increase are the strong industrialization, the progress of urbanization in developing countries and the evolution of technology. You can read this article to know the basis of this increase.
How do states invest in the global construction equipment market?
First, you should know that construction equipment refers to the machinery used in the construction of streets in general, buildings, sewers... If you check out this site, you will get more information. It is clear that these infrastructures are mandatory for the development of a country. For this, the governments of all countries grant a very high budget so that the objectives are achieved. The consequences of this investment are urbanization, increasing industrialization and a high demand for construction equipment. The most popular equipment is the most advanced technology. The industries that manufacture these construction machines therefore start by opting for ecological and environmentally protective materials.
What is accelerating or restraining the equipment market?
Several factors influence the equipment market. Rental services for such construction equipment are increasing the value of the market. Indeed, with the high urbanization that we are witnessing in several countries such as China and India, there are a multitude of rental companies. We know that these machines emit greenhouse gases that destroy the ozone layer. For this reason, there are state regulations that prohibit the heavy use of construction equipment. This is a brake on the market.