Construction machinery sales in the US have demonstrated a declining trend over the past decade, with significant drops in years such as 2015 and 2016. Sales peaked in 2014 but subsequently faced downward trends, although there were minor recoveries in 2017 and 2021. The value of this market stood at 23.872 billion USD in 2023, showing a slight decrease. The yearly variation for the past two years shows a decrease of -0.87% in 2022 and -0.86% in 2023. Looking ahead, the compound annual growth rate (CAGR) is expected to decline by an average of -0.74% per year through 2028, leading to an overall decline in market size by about -3.63% from the 2023 values.
Future trends to watch for:
- Emerging technologies such as automation and smart machinery.
- Economic factors including infrastructure investments and interest rates.
- Environmental regulations pushing for greener construction machinery.
- Global supply chain disruptions impacting production and delivery.
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