Construction Machinery Attachment Market Expected to Reach $9.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Construction Machinery Attachment Market," The construction machinery attachment market was valued at $5.9 billion in 2021, and is estimated to reach $9.5 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

The construction machinery attachment market is growing at a significant pace owing to growing demand from construction, mining, landscaping, demolition, and other sectors. Construction machinery attachment comprises of various equipment namely auger, dozer blade, ripper tooth, quick coupler, jib crane, rock breaker, standard loader bucket, and others. These construction machinery attachments are widely used for backfilling applications such as foundations, trenches, for land development such as leveling, land scrapping, dozing, for cleaning debris, blockages due to landslides, and others. The standard backhoe buckets are used for various mining applications such as digging, loading, and unloading. Also, it is used for trenching of gas pipes, electrical cable, and water pipes. Jib crane is used for construction of electric pole, industrial fencing, agricultural farm applications, and real-estate applications.

Diverse functions performed by construction machinery attachments that boost the efficiency of construction operations have propelled the construction machinery attachment market share in recent years. For instance, a dozer blade that is designed for moving gravel, dirt, and waste is used for dozing materials at construction sites. The dozer blade is a curved mouldboard type that offers smooth material flow. The dozer blades used in quarries, mines, and construction sites, help in increasing the life of tires. Loader coal bucket increases the productivity for the handling of materials such as coal. This bucket comprises of moldboard shape and straight edge that allows for maximum fill ratio of the bucket. These loader coal buckets are used in coal mines, quarry applications, and for another light-density material handling. Also, ripper's tooth is used in road construction for breaking hard surfaces including asphalt and concrete, tree uprooting, hard surface loosening such as compacted earth & others. These ample applications are projected to drive the construction machinery attachment market size in the forecast period.

Some of the drawbacks associated with the use of construction machinery attachments include the high cost of operation and high maintenance required by this machinery. For instance, some of the construction machinery attachments are prone to short circuits from electrical tools, which can cause a fire. These machines can be operated by skilled staff and if the machine breakdowns the construction activity is delayed. Also, the contractors working on small construction projects may face difficulty in acquiring or renting this equipment as they may be charged exorbitant fees. These factors may pose a negative impact on the construction equipment industry sales in the coming years.

Growing applications of construction machinery attachment across landscaping, gardening, civil engineering, and demolition sectors to drive excellent opportunities for the industry players. The construction machinery attachments offer flexibility for performing various construction and mining activities with high efficiency. Some of the popular construction machinery attachments widely used in the construction sector include multi-pallet handlers, bale clamps, drum clamps, slip-on arms, push-pulls, rotators, and others. For instance, KAUP GmbH & Co. KG is one of the leading manufacturers of forklift truck attachments. The construction machinery attachment offered by KAUP can turn forklifts into the multi-functional machines. For instance, fork positioners, side shifters, and clamps offered by the company are widely used for material handling tasks. These factors will drive excellent opportunities in the construction machinery attachment industry in the upcoming years.

The construction machinery attachment market is segmented on the basis of attachment type, application, sales channel, and end-use industry. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the construction machinery attachment market report include Caterpillar Inc., Komatsu Ltd., John Deere, JCB, Doosan Corporation, Liebherr, Hyundai Construction Equipment Co., Ltd., Volvo Construction Equipment AB, Sany, and Bobcat Company.

The report offers a comprehensive analysis of the global construction machinery attachment market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.

Impact of COVID-19 on the Global Construction Machinery Attachment Industry

• The COVID-19 pandemic has created havoc across several industrial sectors across the world. Many countries are still facing economic crises owing to the uncertainties led by the COVID-19 pandemic.
• The construction machinery attachment market size was negatively impacted during the pandemic owing to a decline in the construction machinery attachment market sales. Construction projects across different countries came to a sudden halt and many of them were postponed. This was majorly owing to the diversification of construction budgets by government authorities toward strengthening of healthcare facilities in this crucial time.
• Additionally, import-export restrictions due to closed borders, shortage of labor, and closure of manufacturing units affected the construction machinery attachment market demand during the pandemic.
• The construction machinery attachment production, sales, and demand were negatively impacted owing to stringent government regulations and social distancing norms. Owing to the fear of contracting the COVID-19 virus, the workers working at the construction & mining sites returned to their hometowns. All the above-mentioned factors have posed a negative impact on the construction machinery attachment industry demand

Key Findings of the Study

• Based on attachment type, the excavator buckets sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest-growing segment during the forecast period
• Based on application, the earthmoving sub-segment emerged as the global leader in 2021 and it is predicted to witness the fastest growth during the forecast years
• Based on sales channel, the aftermarket sub-segment emerged as the global leader in 2021, and OEM sub-segment is predicted to witness the fastest growth during the forecast years
• Based on the end-use industry, the construction sub-segment emerged as the global leader in 2021 and it is predicted to witness the fastest growth during the forecast years
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain its position during the forecast period