The Construction Industry in the South & Around the World

The Construction Industry in the South & Around the World

The construction industry is growing in the wake of the 2008 housing crisis recovery. 2017 saw the global market for construction equipment grow to over $192 billion. Even six years from the debacle, North America was the third largest market for construction equipment in the world. The continent made up just over 21% of all global construction equipment industry revenues. Caterpillar, based out of Illinois, was sitting atop the market as the largest construction machinery manufacturer on the planet.

In 2015, engine and machine manufacturers who were creating off-highway trucks, skid steer loaders, and wheel excavators brought down around $47 billion around the world. Major construction led to the proliferation of aerial work platforms, crawler dozers, wheel loaders, and crawler excavators. This market continues to grow with the rising tide of new starts in second-tier cities around the United States. This trend does not seem to be slowing down anytime soon, so you can expect plenty of metalworking to come from these perspectives as well as the added work that always goes along with new housing starts. These statistics are difficult to pin down until they are analyzed after the fact, but all expert opinions are pointing to large numbers of construction machines being sold around the North American continent.

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