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The global construction machinery market is anticipated to record a CAGR of 7.21% during the forecast period, 2018-2023. The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on the market growth.

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Construction expenditures in China will rise 7.8 percent per annum through 2019. Nonresidential building will remain the largest and fastest growing segment, driven by growing consumer spending for manufactured goods and services.

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