Since you’re in the United States construction industry, you’re probably aware that just a few years ago, there were 7.8 million people employed in the production end of this industry. The National Association of Homebuilders reports that in 2010, there were 8.7 million construction workers building residential, commercial, and industrial buildings.
Dodge Data and Analytics’ 2016 Construction Outlook indicated that there would be a 20% increase in single-family home construction beginning this year. The report also indicated that there would be a 7% gain in multi-family home construction. Additional predictions included a 6% overall growth in the construction industry with a projected value of $712 billion.
Since the recession, green building has made a significant contribution to the construction industry’s recovery. Residential green building, for example, has accounted for 26%-to-33% of that market, according to Dodge Data and Analytics.
Prior to 2015, it was estimated that the global equipment market would be worth approximately $145.5 billion in U.S. currency. There are 50 major companies that manufacture this equipment. Since this is a highly-concentrated part of the construction industry, it is important to note that these companies account for approximately 90% of the industry’s total annual revenue.
In terms of market shares, the United States has a market share of approximately 10%. It is considered to be the second largest worldwide market.
Given the growth of this industry, combined with the ongoing need for construction to address population growth and other concerns, it is important to turn to the specific type of equipment needed for these jobs.
During construction, a considerable amount of excavation usually needs to be conducted. An excavator is just one essential piece of equipment needed to perform this job.
When looking for the necessary equipment needed for a specific or ongoing job, you may need one or more of the following pieces of heavy equipment for sale:
- Hydraulic dump
- Hydraulic dump mixer
- Lowboy trailers
- Mini excavator
- Sweep trucks
- Wheel loader
You may be considering the purchase of used, rather than new, construction equipment. If so, you should be able to purchase what you need, including any heavy equipment parts or accessories.
If your existing equipment is in need of repairs or maintenance, or if you need equipment transportation services, you should be able to have all of your needs addressed by the same company. It’s also important to remember that may be able to rent the equipment you need for the job.