Construction Equipment Market is projected to grow at a modest CAGR of 4.0% during the forecast period. The key aspect that has flourished the demand for construction equipment across the globe is the gradual shift of the people towards the urban areas. Urbanization is the population shift from rural to urban areas. According to the UN, around 54% of the population lives in the urban area in 2014, which was estimated to be around 3.86 billion. It is expected to reach 66% by 2050 which will be more than 6 billion people. As per the World Urbanization Prospects by the UN, the largest urban growth will take place in India, China, and Nigeria. Urbanization in emerging economies has been growing significantly since 2014. There were only 28 mega-cities projects in 2014 which is expected to reach 41 by 2030. Hence, the global construction equipment market is likely to be driven by rapid urbanization across the emerging economies of the globe.
Further, increasing per capita income coupled with the growing construction projects in emerging economies such as China, India, Indonesia, and others has also positively impacted the growth of the market. The rising number of infrastructural projects and mega construction projects are also projected to boost the demand for construction equipment, which, in turn, enhances market growth over the forecast period. However, the higher prices of the equipment and the negative impact of COVID-19 on the construction industry. Nevertheless, rising investments in infrastructure post-COVID-19 in order to stimulate economic growth across the globe are further expected to bolster the demand for construction equipment over the forecast period.
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Market Coverage
- Market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Machinery Type and Industry
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., Kobelco Construction Machinery Co. Ltd., and Volvo Group among others
Construction Equipment Market – Segmentation
By Machinery Type
Earth Moving Equipment
- Cranes
- Loader & Backhoe
- Telescopic Handlers
- Excavators
- Motor Graders
- Others (Trencher)
Material Handling Equipment
- Hoists
- Conveyors
- Forklifts
- Others (Industrial Trucks)
Other Construction Equipment
- Concrete Mixers
- Road Rollers
- Stone Crushers
- Dumpers
- Tippers & Trailers
- Others (Slurry Seal Machines)
By Industry
- Construction & Infrastructure
- Manufacturing
- Mining
- Others (Oil & Gas)
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Construction Equipment Market – Segmentation by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- ASTEC Industries Inc.
- Atlas Copco AB
- Caterpillar Inc.
- CNH Industrial NV
- Deere & Co.
- Doosan Heavy Industries & Construction Co., Ltd.
- Guangxi LiuGong Machinery Co., Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Hyundai Heavy IndustriesCo. Ltd.
- JC Bamford Excavators Ltd.
- Kobelco Construction Machinery Co. Ltd.
- Komatsu Ltd.
- LIEBHERR Group
- Metso Corp.
- Sandvik Group
- Sany Heavy Industry Co., Ltd
- Sumitomo Heavy Industries Ltd.
- Terex Corp.
- The Manitowoc Co., Inc.
- Volvo Group
- Wirtgen Group
- XCMG Group
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