Construction Equipment Market Analysis by Equipment Type (Earthmoving, Material Handling, Concrete, Road Building, Civil Engineering, Crushing & Screening, and Others), By Application (Commercial, Residential, and Industrial) and by Region: Global Forecast, 2024 - 2034
- PUBLISHED ON
- 2023-04-18
- NO OF PAGES
- 278
- CATEGORY
- Machinery & Heavy Industry
Market Overview
The Construction Equipment market is predicted to develop at a compound annual growth rate (CAGR) of 6.3%from 2024 to 2034, when it is projected to reach USD 319.1 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 188.42 Billion in 2024.
SOURCE: We Market Research
The Construction
Equipment Market refers to the industry that manufactures, distributes, and
rents machinery and equipment for construction activities. Excavators, loaders,
bulldozers, cranes, concrete mixers, and other types of equipment are available
in this sector. The demand for these equipment is driven by growth in the
residential and commercial construction sectors. Infrastructure growth,
urbanization, and technical improvements such as telematics and automation all
have an impact on the market. Emerging trends emphasize sustainability, such as
the use of electric and hybrid construction equipment. The market is competitive,
with leading competitors continually innovating to suit changing customer and
regulatory requirements.
There are
multiple factors that propel the construction equipment market are, there is a
greater requirement for large machinery during the building of roads, bridges,
and railroads. Urbanization drives the building of residential and commercial
buildings, which increases equipment sales. Government public works initiatives
and international investments in smart city initiatives both aid in the growth of
the sector. Customers are drawn to technological advancements like telematics
and IoT integration that improve equipment efficiency and maintenance.
Additionally, the shift to ecologically friendly equipment—such as hybrid and
electric models—is motivated by worries about the environment and is consistent
with sustainability goals. All things considered, these pressures, along with
shifting customer needs and regulatory restrictions, form the dynamic
environment of the construction equipment company.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 188.42 Billion |
|
Market Forecast in 2034 |
USD 319.1Billion |
|
CAGR % 2024-2034 |
6.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Equipment Type, By Application and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Construction Equipment Industry: Dynamics & Restrains
We Market Research: Construction Equipment Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Construction Equipment Segmentation
Market- By Equipment Type Analysis
By Equipment Type, the Construction Equipment Market is Categories into Earthmoving, Material Handling, Concrete, Road Building, Civil Engineering, Crushing & Screening, and Others. The Earthmoving segment accounts for the largest share of around 52% in 2024.
The Earthmoving equipment subsegment is
driven by increased construction activities, especially in infrastructure and
urban development projects. Demand is fueled by the need for excavation,
grading, and land clearing. Technological advancements, such as GPS integration
and automated features, further enhance efficiency, productivity, and safety in
earthmoving operations.
The
following segments are part of an in-depth analysis of the global Construction
Equipment market:
|
Market Segments |
|
|
By Application |
·
Commercial ·
Residential ·
Industrial |
Construction Equipment Industry: Regional Analysis
Asia Pacific Market Forecast
Asia Pacific dominate the Construction Equipment Market with the highest revenue generating market with share of more than 46%. The Asia Pacific region is expected to have the highest growth rate and largest market share over the course of the projection period. This is the outcome of countries like China, India, and Southeast Asia's rapid economic growth and urbanization. These countries' large investments in infrastructure development are driving up demand for construction equipment.
North America Market Statistics
North America Construction
Equipment market is second largest market during the forecasted period. The market is expected to grow steadily due to
the aging infrastructure in the region and the increasing focus on repair and
replacement projects.
Europe Market Forecasts
Europe is
expected to be the fastest-growing regional segment of the Construction
Equipment market during the forecast period. However, the market is expected to
see some growth due to the increasing demand for rental equipment and the
growing adoption of new technologies such as electric and autonomous
construction equipment.
Key Market Players
The Construction Equipment Market is dominated by a
few large companies, such as
·
Caterpillar Inc.
·
Komatsu
·
Hitachi Construction Machinery
·
Liebherr
·
Volvo Construction Equipment
·
Doosan Infracore Co. Ltd.
·
J.C. Bamford Excavators Ltd.
·
CNH Industrial NV
·
SANY Group
· Hyundai Construction Equipment Co.
· Other
1.
Global
Construction Equipment Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Construction Equipment
Market Scope and Market Estimation
1.2.1. Global Construction Equipment Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2. Global Construction Equipment
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Component of Global Construction
Equipment Market
1.3.2. Technology of Global Construction
Equipment Market
1.3.3. Application of Global Construction
Equipment Market
1.3.4. Region of Global Construction
Equipment Market
2.
Executive Summary
2.1. Global Construction Equipment Market Industry Trends under COVID-19
Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak
on Global Construction Equipment Market
Industry Development
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact Analysis of Drivers and
Restraints
2.3. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. Russia-Ukraine War Impacts
Analysis
2.8. Economic Downturn Analysis
2.9. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Construction Equipment
Market Estimates & Historical Trend
Analysis (2019 - 2023)
4.
Global Construction Equipment
Market Estimates & Forecast Trend
Analysis, by EQUIPMENT TYPE
4.1. Global Construction Equipment
Market Revenue (US$ Mn) Estimates and Forecasts, by EQUIPMENT TYPE, 2019 to 2034
4.1.1. Earthmoving
4.1.2. Material Handling
4.1.3. Concrete
4.1.4. Road Building
4.1.5. Civil Engineering
4.1.6. Crushing & Screening
4.1.7. Others
5.
Global Construction Equipment
Market Estimates & Forecast Trend
Analysis, by Application
5.1. Global Construction Equipment
Market Revenue (US$ Mn) Estimates and Forecasts, by Application,
2019 to 2034
5.1.1. Commercial
5.1.2. Residential
5.1.3. Industrial
6.
Global Construction Equipment
Market Estimates & Forecast Trend
Analysis, by Region
6.1. Global Construction Equipment
Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2034
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Middle East & Africa
6.1.5. South America
7.
North
America Construction Equipment Market: Estimates & Forecast Trend Analysis
7.1.
North
America Construction Equipment Market Assessments & Key Findings
7.1.1. North America Construction
Equipment Market Introduction
7.1.2. North America Construction
Equipment Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
7.1.2.1. By EQUIPMENT TYPE
7.1.2.2. By Application
7.1.2.3. By Country
7.1.2.3.1. The U.S.
7.1.2.3.2. Canada
7.1.2.3.3. Mexico
8.
Europe
Construction Equipment Market: Estimates & Forecast Trend Analysis
8.1. Europe Construction Equipment
Market Assessments & Key Findings
8.1.1. Europe Construction Equipment
Market Introduction
8.1.2. Europe Construction Equipment
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
8.1.2.1. By EQUIPMENT TYPE
8.1.2.2. By Application
8.1.2.3.
By
Country
8.1.2.3.1. Germany
8.1.2.3.2. U.K.
8.1.2.3.3. France
8.1.2.3.4. Italy
8.1.2.3.5. Spain
8.1.2.3.6. Russia
8.1.2.3.7. Rest of Europe
9.
Asia
Pacific Construction Equipment Market: Estimates & Forecast Trend Analysis
9.1. Asia Pacific Market Assessments
& Key Findings
9.1.1. Asia Pacific Construction
Equipment Market Introduction
9.1.2. Asia Pacific Construction
Equipment Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By EQUIPMENT TYPE
9.1.2.2. By Application
9.1.2.3.
By
Country
9.1.2.3.1. China
9.1.2.3.2. Japan
9.1.2.3.3. India
9.1.2.3.4. Australia
9.1.2.3.5. South Korea
9.1.2.3.6. ASEAN
9.1.2.3.7. Rest of Asia Pacific
10. Middle East & Africa Construction
Equipment Market: Estimates &
Forecast Trend Analysis
10.1. Middle East & Africa Market
Assessments & Key Findings
10.1.1. Middle
East & Africa Construction
Equipment Market Introduction
10.1.2. Middle
East & Africa Construction
Equipment Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By EQUIPMENT TYPE
10.1.2.2. By Application
10.1.2.3. By Country
10.1.2.3.1. U.A.E.
10.1.2.3.2. Saudi Arabia
10.1.2.3.3. Egypt
10.1.2.3.4. South Africa
10.1.2.3.5. Rest of Middle East & Africa
11. South America
Construction Equipment Market:
Estimates & Forecast Trend Analysis
11.1. South America Market Assessments
& Key Findings
11.1.1. South America Construction
Equipment Market Introduction
11.1.2. South America Construction
Equipment Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By EQUIPMENT TYPE
11.1.2.2. By Application
11.1.2.3. By Country
11.1.2.3.1. Brazil
11.1.2.3.2. Argentina
11.1.2.3.3. Colombia
11.1.2.3.4. Rest of South America
12. Competition Landscape
12.1. Global Construction Equipment
Market Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
12.2. Global Construction Equipment
Market Competition White Space Analysis, By Application
12.3. Global Construction Equipment
Market Competition Heat Map Analysis, By Application
12.4. Global Construction Equipment
Market Concentration & Company Market Shares (%) Analysis, 2022
13. Company Profiles
13.1.
Caterpillar Inc.
13.1.1. Company Overview & Key Stats
13.1.2. Financial Performance & KPIs
13.1.3. Product Portfolio
13.1.4. Business Strategy & Recent Developments
* Similar details would be provided
for all the players mentioned below
13.2. Komatsu
13.3. Hitachi
Construction Machinery
13.4. Liebherr
13.5. Volvo
Construction Equipment
13.6. Doosan
Infracore Co. Ltd.
13.7. J.C. Bamford
Excavators Ltd.
13.8. CNH Industrial
NV
13.9. SANY Group
13.10. Hyundai Construction
Equipment Co.
13.11. Others
14. Research
Methodology
14.1. External Transportations /
Databases
14.2. Internal Proprietary Database
14.3. Primary Research
14.4. Secondary Research
14.5. Assumptions
14.6. Limitations
14.7. Report FAQs
15. Research Findings & Conclusion
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size of Construction Equipment Market in 2024?
Construction Equipment Market was valued at USD 188.42 Billion in 2024.
What is the growth rate for the Construction Equipment Market?
Construction Equipment Market size will increase at approximate CAGR of 6.3% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating with in the Construction Equipment Market are Caterpillar Inc., Komatsu, Hitachi Construction Machinery, Liebherr, Volvo Construction Equipment, Doosan Infracore Co. Ltd., J.C. Bamford Excavators Ltd., CNH Industrial NV, SANY Group, Hyundai Construction Equipment Co.
Which region dominates the Construction Equipment Market?
Asia Pacific dominates the market with an active share of 46%.
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