Self-Propelled Modular Transporter (SPMT) Market in North America by End-user and Geography - Forecast and Analysis 2022-2026

The self-propelled modular transporter (SPMT) market in North America share is expected to increase by USD 50.25 million from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 4.43%.

This self-propelled modular transporter market research report of North America provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers self-propelled modular transporter market segmentation in North America by end-user (construction, oil industries, shipyard and offshore industry, and other industries) and geography (US, Canada, and Mexico). The self-propelled modular transporter market report of North America also offers information on several market vendors, including Enerpac Tool Group Corp., Engineered Rigging, Fagioli Spa, Faymonville Distribution AG, GOLDHOFER, Mammoet, MORELLO GIOVANNI Srl, PSC Nuclear, Sarens NV, and Transporter Industry International GmbH among others.

What will the Self-Propelled Modular Transporter Market Size in North America be During the Forecast Period?

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Self-Propelled Modular Transporter Market in North America: Key Drivers and Challenges

The growth of the construction industry is notably driving the SPMT market growth in North America, although factors such as shortage of skilled workers in the construction industry may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the self-propelled modular transporter industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Self-Propelled Modular Transporter Market Driver in North America

The demand for construction machinery is growing due to the increasing investment in infrastructure projects across North America. The major contributors to the construction industry in North America are the US and Canada. North America is one of the largest customers for manufacturing, mining, and a variety of services. The industry is expected to be led by public investment across non-residential buildings and structures, followed by the transport and public safety sectors. The Government of Canada is committed to building and maintaining infrastructure across the country. As part of its investment in the Canada Plan, the government has allocated more than $180 billion (CAD) to critical infrastructure over the next decade. The plan includes long-awaited funding projects related to public transport, affordable housing, and the development of rural communities. Such factors will propel the demand for self-propelled modular transporters in North America during the forecast period.

Key Self-Propelled Modular Transporter Market Challenge in North America

The shortage of skilled workers is increasingly becoming a challenge for the construction industry. The aged, skilled, and experienced workforce is approaching retirement. The SPMT market in North America requires trained professionals to operate machines. The shortage of skilled labor and the growing competition within the construction industry challenges the SPMT market in North America. Vendors focus on getting more work done with fewer employees to ensure profitability. This results in the transition from technically skilled workers to other diversified workers in the material handling process, which increases the knowledge gap. With the growing demand for construction activities across the world, the construction industry is witnessing a shortage of skilled workforce. The decline in the number of engineers leads to delays in the completion of construction projects, which results in a decrease in the demand for SPMTs. Thus, the shortage of skilled labor is expected to hamper the growth of the SPMT market in North America during the forecast period.

This self-propelled modular transporter market analysis report of North America also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Self-Propelled Modular Transporter Market Vendors in North America?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Enerpac Tool Group Corp.
• Engineered Rigging
• Fagioli Spa
• Faymonville Distribution AG
• GOLDHOFER
• Mammoet
• MORELLO GIOVANNI Srl
• PSC Nuclear
• Sarens NV
• Transporter Industry International GmbH

This statistical study of the self-propelled modular transporter market in North America encompasses successful business strategies deployed by the key vendors. The SPMT market in North America is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The self-propelled modular transporter market forecast report of North America offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Self-Propelled Modular Transporter Market in North America?

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67% of the market's growth will originate from the US during the forecast period. However, the market growth rate in this region will be slower than the growth of the market in Canada and Mexico.

The growth of construction activities will facilitate the self-propelled modular transporter market growth in the US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Self-Propelled Modular Transporter Market in North America?

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The construction segment in the SPMT market in North America in the construction segment is expected to record a significant growth rate during the forecast period, with the rise in construction activities among various construction contractors and the increase in investments in the construction sector. In addition, a significant increase in infrastructure spending by governments across the regions will augment the demand for self-propelled modular transporters, which, in turn, will drive the growth of the construction segment in North America.

This report provides an accurate prediction of the contribution of all the segments to the growth of the SPMT market size in North America and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Self-Propelled Modular Transporter Market Report of North America?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive self-propelled modular transporter market growth in North America during the next five years
• Precise estimation of the self-propelled modular transporter market size in North America and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the SPMT industry across the US, Canada, and Mexico
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of SPMT market vendors in North America 

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