Status : Published Published On : Apr, 2024 Report Code : VRAT9629 Industry : Automotive & Transportation Available Format : Page : 205
2025
2030

Global Construction Equipment Market – Analysis and Forecast (2025-2030)

Industry Insights By Type (Front Loaders, Backhoe Loader, Grader, Dump Trucks, Wheel Bulldozers, Excavators, Forklifts, Concrete Mixer Truck, Crawler Dozzers, Compactors and Others), By Solution Type (Products and Services), By Equipment Type (Heavy Construction Equipment and Compact Construction Equipment), By Application (Excavation & Mining, Earth moving, Transportation, Lifting & Material Handling and Others), By End-User (Manufacturing, Mining, Oil & Gas, Construction & Infrastructure and Others) and By Geography (North America, Asia-Pacific, Europe and Rest of the World)

Industry Overview

The Global Construction Equipment Market is expected to reach USD 193.8 billion in 2030 from USD 148.3 billion in 2023 with a compound annual growth rate CAGR of 3.7% throughout the forecast period (2025-2030).

Volatility in real estate and related industries, such as construction equipment, has resulted in demand-supply gaps hampering analysis of the sector and its trends.  Demand for construction equipment is a reflection of broader macroeconomic trends such as infrastructure investment, interest rates and liquidity, which indicate the health of the overall economy. This demand of construction equipment is expected to grow in line with the expansion of real estate development.  The construction equipment industry is also characterized by new product launch activity by the companies. This is due to various factors, including increase in the availability of their products & services in varied geographical areas. Construction equipments are specially designed machinery used to assist in construction operations, which include Dump Trucks, Backhoe loader, Compactors, Excavators, Forklifts, Concrete Mixer Truck, Grader, Wheel Bulldozers, Front Loaders, Crawler Dozers and Others. These equipments are used for different functions such as drilling, grading, lifting, excavating, paving and others. The global construction equipment market covers different industries such as oil & gas, construction & infrastructure and manufacturing. 

Market Segmentation

Insight by Type

Based on type, the Construction Equipment Market is segregated into front loaders, backhoe loader, grader, dump trucks, wheel bulldozers, excavators, forklifts, concrete mixer truck, crawler dozers, compactors and others. The excavator segment held a major share of the construction equipment market as they are utilized widely for digging earth which is the very common construction equipment required at almost all construction sites that involves digging operations.

Insight by Solution

The Construction Equipment Market is segmented by solution as products and services. The products segment dominated the construction equipment market, in terms of revenue during the forecast period. It consists of all the construction machinery which is used in various construction operations such as loaders, excavators, cranes, forklifts, dozers and others.

Insight by Equipment

On the basis of equipment, the Construction Equipment Market is classified into heavy construction equipment and compact construction equipment. The compact construction equipment division is expected to grow with the highest CAGR during the forecast period as market is expected to grow rapidly during the forecast period. Compact construction equipment are smaller in size and their maintenance cost is less in comparison with heavy construction equipment.  

Insight by Application

Based on application, the Construction Equipment Market is segmented into excavation & mining, earth moving, transportation, lifting & material handling and others. The lifting & material handling segment dominated the market during the forecast period as lifting and lowering objects in a construction site is a very commonly held activity. Often cranes are used for such operations.

Insight by End-User

The Construction Equipment Market is segregated by enduser such as manufacturing, mining, oil & gas, construction & infrastructure and others. The construction & infrastructure segment dominated the market during the forecast period. Construction equipment is used for building various types of infrastructure such as roads, rails, residential & commercial buildings and other public works.

Global Construction Equipment Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  148.3 Billion

Revenue Forecast in 2030

U.S.D.  193.8 Billion

Growth Rate

3.7%

Segments Covered in the Report

By Type, By Solution Type, By Equipment Type, By Application, By End-User

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Asia-Pacific, Europe and Rest of the World

Industry Dynamics

Growth Drivers

The global construction equipment market is anticipated to experience significant growth in the forecast period, where its growth drivers are rising demand for advanced machinery, increasing infrastructure development projects and growing investments in renewable energy projects. A significant increase in demand for all types of construction equipment is because of the rise in the construction, infrastructure and mining activity during the year. The road and highway construction created demand for machines like crushers, excavators, motor graders and screeners. Also the support from the Ministry of Road Construction and Highways has been playing a major role in driving the demand for construction equipment as over 40% of construction equipment demand comes from this segment. The government is taking action to restructure policies and procedures such as the introduction of the Real Estate (Regulation and Development) Bill, along with the growing forest clearances, environmental issues and land acquisition issues to boost infra development. The industry can plan better to cater to the budding demand for various construction equipments by focusing on debottlenecking certain issues to accelerate the pace of execution of the existing infrastructure projects.

Restraints

The main constraints of the Construction Equipment Market are the limited land banks. Environmental concerns, regulatory issues and delays in project approval hinders construction projects and limits sales of construction equipment. Also rising oil prices increase other input costs, such as fuel, which wear down profits of end users and reduces demand for equipment. Rising cost of steel, lack of skilled labour weakens profits and considerably hinders market growth.

Geographic Overview

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World

Geographically, Asia Pacific (APAC) shall dominate the Global Construction Equipment Market due to extensive demand in the construction & infrastructure sector,  Asia-Pacific accounted for the highest construction equipment market share and is anticipated to secure the leading position during the forecast period. Thus, major players are expanding their presence in the Asia-Pacific to serve the growing construction sector along with the mining, oil & gas and other industries.

Key Players Covered in the Report

The key players of the global Construction Equipment Market include Liebherr Group, JCB, Volvo Construction Equipment, Deere & Company, Doosan, SANY Group Company Ltd., Caterpillar, Hyundai Construction Equipment Company, Hitachi Construction Machinery, Komatsu, Kubota, CNH Global, Zoomlion, Kobelco.

Recent Development by Key Players

John Deere has joined hands with Leica Geosystems which is a part of Hexagon to help speed up the digital transformation of the heavy construction industry. The two organisations plan to work together to develop and deliver solutions that improve productivity and reduce material costs.

Caterpillar Inc. has signed an electrification strategic agreement with CRH to progress the deployment of Caterpillar’s zero-exhaust emissions solutions. CRH is one of the major producers in North America and the first company in that industry to sign such an agreement with Caterpillar. The agreement shall accelerate the deployment of Caterpillar’s 70 to 100-ton-class battery electric off-highway trucks and charging solutions at a CRH site in North America.

The global Construction Equipment Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Type
    • Front Loaders
    • Backhoe Loader
    • Grader
    • Dump Trucks
    • Wheel Bulldozers
    • Excavators
    • Forklifts
    • Concrete Mixer Truck
    • Crawler Dozers
    • Compactors
    • Others
  • By Solution
    • Products
    • Services
  • By Equipment
    • Heavy Construction Equipment
    • Compact Construction Equipment
  • By Application
    • Excavation & Mining
    • Earth moving
    • Transportation
    • Lifting & Material Handling
    • Others
  • By End-User
    • Manufacturing
    • Mining
    • Oil & Gas
    • Construction & Infrastructure
    • Others

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
  • Rest of the World
    • Brazil
    • Saudi Arabia
    • South Africa
    •  U.A.E
    • Other Countries

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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