Factors fueling expansion include increased construction activity and equipment usage and global emissions requirements. The construction equipment aftermarket, consisting of parts and service offerings after a new equipment sale, was projected to exceed $20 billion for 2020 and continue to grow at more than 5% CAGR from 2021 to 2027, when it is projected to reach more than $30 billion, according to Global Market Insights, Inc. Active efforts by suppliers to expand their service portfolios and boost their market presence will help to fuel the industry growth. READ FULL ARTICLE>>
