Construction Equipment Market Growth or Demand Increase for what contain:
The Global Construction Equipment Market size was valued at $195.8 billion in 2021, and is projected to reach $313.9 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031. Construction equipment are specially designed machinery used to perform or assist in construction operations. Typically, these machines include Wheel Bulldozers, Front Loaders, Dump Trucks, Backhoe loader, Grader, Crawler Dozers, Compactors, Excavators, Forklifts, Concrete Mixer Truck, and Others. These equipment are used for different functions such as drilling, hauling, excavating, paving, grading, lifting, and others. The global construction equipment market covers different industries such as construction & infrastructure, manufacturing, and oil & gas.
Construction Equipment Market CAGR Estimation:
Construction Equipment Market size was valued at USD 194.10 Bn. in 2023 and the total revenue is expected to grow by 4.48% from 2024 to 2030, reaching nearly 263.80 Bn.
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Construction Equipment Market Segmentation:
by Type
Loader
Crane
Forklift
Excavator
Dozer
Others
the Construction Equipment Market is segmented into Loader, Crane, Forklift, Excavator, Dozer, and Others. The Loader segment held the largest market share in 2023. Thanks to the increase of both new and current production facilities, rising household demand, rising disposable income, and government subsidies, loaders are seen to be growing exponentially.
by Power
Output <100 HP
101–200 HP
201–400 HP
>400 HP
the Construction Equipment Market is segmented into <100 HP, 101–200 HP, 201–400 HP, and >400 HP. Based on power output, the 101-200 horsepower (HP) segment held the majority of the market share in 2023. Thanks to its superior power-to-weight ratio, improved fuel economy, and lower operating costs for construction equipment operators and contractors, 101-200 HP construction equipment has a higher penetration in the market.
by Industries
Oil & Gas
Infrastructure
Forestry & Agricultural
Manufacturing
Military
Mining
the Construction Equipment Market is segmented into Oil & Gas, Infrastructure, Forestry & Agricultural, Manufacturing, Military, and Mining. In 2023, the Infrastructure segment held the largest market share. Sales of construction equipment have increased significantly as a result of rising infrastructure and building spending, particularly in emerging nations. Thanks to increased government investment in infrastructure projects, particularly those in rural areas, sales of construction equipment are expected to climb by double digits through the forecast period.
by Application
Earth moving
Transportation
Excavation & Demolition
Heavy Lifting
Tunneling
Material Handling
Recycling & Waste Management
the Construction Equipment Market is segmented into Earth Moving, Transportation, Excavation & Demolition, Heavy Lifting, Tunneling, Material Handling, and Recycling & Waste Management. The Earth Moving segment dominated the market share in 2023, and it is expected that it will continue to rule the industry through the forecast period.
Construction Equipment Market Overview:
Some of the major companies that dominated the market studied are Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, and XCMG, which captured a major share of the market.
The construction equipment market is characterized by numerous international and regional players, resulting in a highly competitive market environment. Apart from the top players, small-scale or domestic players account for a significant share of the market.
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Construction Equipment Market Growth or Demand in which regions:
In 2023, Asia Pacific dominated the market with the largest market share. The Asia Pacific market is expected to have the largest revenue share throughout the forecast period thanks to the rapidly growing construction sector in countries like India, China, Thailand, and Vietnam. The growth of the Asia-Pacific construction equipment market is being driven by rapidly growing investments in infrastructure and construction projects.
Construction Equipment Market Scope and Methodology:
The Construction Equipment market report provides a comprehensive analysis of the major revenue-generating segments and the analysis of each segment with its potential revenue estimates. The report has presented the data in graphical and textual format, which has made it easier to understand deeper insights into the global market by country. Along with a year-over-year increase, the aggregate growth for the years 2024–2030 is also estimated and represented. Strategic cooperation among key industry players that includes forward integration as well as backward integration is expected to drive the growth of the construction equipment market during the forecast period. The report has also covered the investments in the market from the last two years by country and key players including major projects globally.
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Construction Equipment Market Key Players:
1. Caterpillar
2. Hitachi Construction Machinery
3. Komatsu Ltd.
4. SANY Group
5. Xuzhou Construction Machinery Group
6. JCB
7. Doosan Corporation
8. Atlas Copco
9. Deere & Company
10. Bomag
11. CASE Construction Equipment
12. Ammann Group
13. Hamm AG
14. Martin Trailer Company
15. MBW Inc.
16. Thetford International
17. Altrad Belle
18. CNH Industrial America LLC
19. AB Volvo
20. Zoomlion Heavy Industry Science and Technology Co., Ltd
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Key questions answered in the Construction Equipment Market are:
• What is Construction Equipment Market ?
• What is the growth rate of the Construction Equipment Market?
• Which are the factors expected to drive the Construction Equipment market growth?
• What are the different segments of the Construction Equipment Market?
• What growth strategies are the players considering to increase their presence in Construction Equipment?
• What are the upcoming industry applications and trends for the Construction Equipment Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Construction Equipment Market?
• What major challenges could the Construction Equipment Market face in the future?
• What segments are covered in the Construction Equipment Market?
• Who are the leading companies and what are their portfolios in Construction Equipment Market?
• What segments are covered in the Construction Equipment Market?
• Who are the key players in the Construction Equipment market?
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