According to a new Transparency Market Research report, the global construction equipment market is expected to reach $192.3 billion by 2017 from $143.6 billion in 2012, growing at a CAGR of 6 per cent from 2012 to 2017. The earthmoving equipment segment is in a commanding position contributing about 43 per cent to the total construction equipment market revenue in 2012. China accounted for majority of the global construction equipment consumption, with Europe at a distant second. Material handling equipment is the fastest growing segment and is expected to grow at a CAGR of 6.6 per cent from 2012 to 2017. The construction vehicles segment is expected to exhibit healthy growth during the forecast period (2012-17) and will attain a market size of $22.9 billion in2017. Asia is considered the most promising market for construction equipment worldwide due to relatively good performance of construction and mining industries, in countries like India and China.