Global Construction Equipment Market Could Exceed $220 Billion by 2025

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, April 15, 2020 /PRNewswire/ -- As per various recent report the global construction equipment market is expected to grow to USD 227.32 Billion by 2025, at a CAGR of 5.2% during the forecast period 2018-2025. Increase in government expenditure on developing infrastructure, growing demand for smart city projects which requires a large amount of construction equipment and newly formed emission regulations to initiate progress in OHV engine & exhaust technologies are driving the global construction equipment market. A report from industry insider, Fior Markets added: "Construction equipment is defined as a wide variety of heavy machines which implement specific construction functions under power. Due to modernization and technological improvements, the need for construction equipment has increased substantially for highly disciplined industries, including the military and railway operations. The construction machines may be classified according to their functions such as hoisting, excavating, hauling, grading, paving, drilling, or pile driving. Heavy construction equipment is an important component of all construction projects as they lower the cost of labor and reduce the amount of time taken to complete projects. The machines are designed in a way to increase speed, efficiency, and accuracy so as to improve operator comfort and safety. The world construction equipment market consists different industries including manufacturing, oil & gas, forestry, military and public works. For instance, Caterpillar (U.S.) launched its Cat utility vehicles - the gasoline-powered Cat CUV82 and diesel-powered CUV102D to build a UTV that delivers the combination of durability, comfort and maintenance simplicity.  Active companies in the markets this week include ToughBuilt Industries, Inc. (NASDAQ: TBLT), The Home Depot, Inc. (NYSE: HD), Lowe's Companies, Inc. (NYSE: LOW), Floor & Decor Holdings, Inc. (NYSE: FND), Amazon.com, Inc. (NASDAQ: AMZN).

The increased expenditure by the government on developing infrastructure is a major factor driving the market growth. However, the high cost of equipment may obstruct the growth of the market. Nevertheless, renting or leasing out construction equipment may boost the market in the forthcoming years."  A recent report from ResearchReportsWorld added: "The global Construction Equipment market is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2025. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon."

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) BREAKING NEWS:  TOUGHBUILT^™ Q1 Amazon sales reached $1,200,000   - ToughBuilt Industries today announced that it's for the quarter ended March 31, 2020, our gross sales through our Amazon U.S. storefront were $1,200,000, which is $4,800,000 on an annualized basis.  During 2019 which was launched in May 2019, our sales for Amazon were $2,500,000.

Michael Panosian, Chief Executive Officer of ToughBuilt, commented, "We are very pleased with the successful launch we did last year through the Amazon Storefront and our results for the first quarter this year. Although the quarter was impacted by Covid-19, we maintained a consistent flow of sales from the commercial and private sectors which we believe will be balanced as we continue to utilize the marketing and far-reaching capabilities of Amazon."

Other recent developments in the markets this week include:

The Home Depot, Inc. (NYSE: HD) the world's largest home improvement retailer, recently provided an update on several temporary changes to its business in response to COVID-19.  "As our communities battle COVID-19, The Home Depot is committed to providing the essential needs required to maintain homes and businesses while doing our best to protect our valued customers and associates. This has resulted in several temporary changes to our business as we look out for your safety and the safety of our associates," said Craig Menear, chairman, CEO and president of The Home Depot. "We want to thank our associates and our customers for their patience and cooperation as we work through this challenge together."

Lowe's Companies, Inc. (NYSE: LOW) Lowe's Canada, one of Canada's leading home improvement retailers operating or servicing more than 475 corporate and affiliated stores under different banners, continues to respond to the rapidly evolving COVID-19 pandemic, has recently announced a philanthropic investment of $1 million to support Canadian associates and communities now and as the pandemic continues.

This philanthropic investment is in addition to other local initiatives rolled out to support our communities, including the donation of 36,000 boxes to Ontario food banks through Feed Ontario, as well as the donation of plastic rolls to healthcare workers to protect them during intubation.

"Over the past several weeks, our more than 26,000 Lowe's Canada associates have worked around the clock to ensure our retail and Pro customers have access to the essential products they need to keep their families safe, their essential businesses running, and their communities healthy. With the initiatives announced today, we want to contribute to meeting other types of essential needs within our communities," said Tony Hurst , President of Lowe's Canada .

Amazon.com, Inc. (NASDAQ: AMZN) recently announced four new renewable energy projects in Australia, Spain, Sweden, and the US that further support Amazon's commitment to reach 80% renewable energy by 2024 and 100% renewable energy by 2030 on path to net zero carbon by 2040.

Amazon is investing globally to enable new renewable energy projects as the company works towards net zero carbon by 2040. Amazon's first renewable energy project in Australia is a 60 megawatt (MW) solar project anticipated to come online in 2021 in northern New South Wales. Once complete, the project is expected to generate 142,000 megawatt hours (MWh) of clean energy annually, which is equivalent to the annual electricity of almost 23,000 average Australian households.

Floor & Decor Holdings, Inc. (NYSE: FND) a leading specialty retailer of hard surface flooring, recently announced an update on temporary operating changes to its business in response to COVID-19.

The majority of its stores will remain open for pickup only of online, phone or app orders from Monday – Saturday, 7am to 4pm; Sunday, 10 am to 4 pm.

The Company continues to operate its flooranddecor.com website, its ProPremier professional app and call center, which allow customers the opportunity to shop and purchase outside of the physical store environment with the convenience of same-day pickup and various delivery options. In an effort to help customers keep their projects on track, the Company will be offering free virtual design appointments starting next week. In addition, previously purchased products in storage can continue to be picked up at the store.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the press release issued by ToughBuilt Industries, Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact email: 
editor@financialnewsmedia.com 
 +1(561)325-8757