Report Description
The construction equipment market size was valued at USD 206.8 billion in 2021 and is projected to reach USD 248.9 billion by 2030, expanding at a CAGR of 3.9% during the forecast period, 2022 – 2030. The growth of the market is attributed to increased infrastructure investments after the COVID-19 pandemic as well as increased investments in urban infrastructure.
Heavy-duty vehicles specifically built for carrying out construction duties, most commonly earthwork operations, are referred to as construction equipment. Heavy machineries, heavy vehicles, heavy hydraulics, engineering equipment, construction equipment, and heavy trucks are just a few terms used to describe them. Any construction procedure requires construction equipment. These machineries are used to perform several activities such as grading, paving, excavating, hauling, and drilling.
Although the construction industry is slowing, new construction equipment sales are estimated to increase during the forecast period. The rising emphasis on public–private partnerships is expected to be one of the causes driving the market. These partnerships are defined as a public-private cooperation for the creation of public infrastructure systems. In this sort of partnerships, a private company manages a project and provides operational and technical skills to government projects.
The Covid-19 pandemic affected the demand and supply of construction equipment market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period. However, as construction operations resumed in the 2nd quarter of the year, the industry began to see positive growth in many parts of the world.
Market Trends, Drivers, Restraints, and Opportunities
- Government programs that encourage people to buy new homes, such as stimulus packages and reduced mortgage rates, are projected to drive the market during forecast period.
- Rising infrastructure investment amid COVID-19 is estimated to drive the market during projected period.
- Stringent government regulations and carbon emissions are anticipated to hinder the market growth.
- High initial investment cost is estimated to hamper the market growth during forecast period.
- High maintenance cost of the equipment is anticipated to restrict the market growth.
- Growing trend of electric construction equipment is expected to create immense opportunities for the market players during the forecast period.
Scope of the Report
The report on the global construction equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Construction Equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022 – 2030
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Segmentation
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Types (Crushing & Screening Equipment, Civil Engineering Equipment, Road Building Equipment, Concrete Equipment, Material Handling Equipment & Cranes, Earthmoving Equipment, and Others), Applications (Commercial, Industrial, and Residential)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Zoomlion; Sany Heavy Industries; Xuzhou Construction Machinery Group; Komatsu Ltd.; Caterpillar Inc.; Liebherr-International AG; CNH Industrial NV; Kobelco Construction Machinery Co.; JCB India Limited; Doosan Infracore; Escorts Limited; Volvo AB; Terex Corporation; Sumitomo Heavy Industries, Ltd.; Deere & Company.; and Hyundai Construction Equipment Co., Ltd.
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Market Segment Insights
The material handling equipment & cranes segment is projected to expand at a rapid pace during the forecast period
Based on types, the market is segregated into crushing & screening equipment, civil engineering equipment, road building equipment, concrete equipment, material handling equipment & cranes, earthmoving equipment, and others. The material handling equipment & cranes segment is projected to expand at a rapid pace during the forecast period, due to growing demand for cranes and other gear in a variety of industries, including construction and warehouse cranes. The road building equipment segment is estimated to expand at a high CAGR during the forecast period owing to increasing funding in commercial and industrial construction projects in emerging nations such as India and China. The concrete equipment segment held around 12% of the total market share in 2021. Growth of the segment is attributed to increasing logistics and transportation sectors operations. These machines are used in a variety of construction projects, including utility work, stadiums, roadways, towers, buildings, and power plants. The capacity of the concrete pump to efficiently transfer freshly made fluid concrete to the exact location is boosting the market.
The industrial segment is projected to expand at a high CAGR during the forecast period
On the basis of applications, the market is fragmented into commercial, industrial, and residential. The industrial segment is projected to expand at a high CAGR during the forecast period. Growth of the segment is attributed to increased industrialization and foreign direct investment in several international manufacturing plants.
Asia Pacific held around 40% of the total market share in 2021
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held major market share in 2021 and is projected to expand at a high CAGR during the forecast period. Favorable government initiatives to encourage infrastructure investments in emerging nations such as China and India are expected to drive the market. Growth and expansion of the building and construction industries as a result of increased infrastructure development is estimated to boost the market in the region.
Segments
Segments Covered in the Report
The global construction equipment market has been segmented on the basis of
Types
- Crushing & Screening Equipment
- Civil Engineering Equipment
- Road Building Equipment
- Concrete Equipment
- Material Handling Equipment & Cranes
- Earthmoving Equipment
- Others
Applications
- Commercial
- Industrial
- Residential
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Zoomlion
- Sany Heavy Industries
- Xuzhou Construction Machinery Group
- Komatsu Ltd.
- Caterpillar Inc.
- Liebherr-International AG
- CNH Industrial NV
- Kobelco Construction Machinery Co.
- JCB India Limited
- Doosan Infracore
- Escorts Limited
- Volvo AB
- Terex Corporation
- Sumitomo Heavy Industries, Ltd.
- Deere & Company.
- Hyundai Construction Equipment Co., Ltd.
Competitive Landscape
Key players competing in the construction equipment market include Zoomlion; Sany Heavy Industries; Xuzhou Construction Machinery Group; Komatsu Ltd.; Caterpillar Inc.; Liebherr-International AG; CNH Industrial NV; Kobelco Construction Machinery Co.; JCB India Limited; Doosan Infracore; Escorts Limited; Volvo AB; Terex Corporation; Sumitomo Heavy Industries, Ltd.; Deere & Company.; and Hyundai Construction Equipment Co., Ltd.
Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,
- In January 2021, Honda Motor Co., Ltd. and Komatsu Ltd. have formed a collaborative development partnership. Komatsu's PCO1 mini excavators were electrified as part of the agreement.
- In April 2021, Caterpillar introduced the new CAT 816 soil compactor, which features upgraded airflow technology to minimize cleaning and maintenance.
Frequently Asked Questions
The construction equipment market is projected to reach USD 248.9 billion by 2030.
The construction equipment market is estimated to expand at a CAGR of 3.9% during the forecast period, 2022 – 2030.
The material handling equipment & cranes segment is projected to expand at a rapid pace during the forecast period.
Asia Pacific held around 40% of the total market share in 2021.
Volvo AB; Terex Corporation; Sumitomo Heavy Industries, Ltd.; Deere & Company.; and Hyundai Construction Equipment Co., Ltd. are some of the top players in the market.
Table Of Content
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Construction Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Construction Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Construction Equipment Market - Supply Chain
4.5. Global Construction Equipment Market Forecast
4.5.1. Construction Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Construction Equipment Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Construction Equipment Market Absolute $ Opportunity
5. Global Construction Equipment Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Construction Equipment Market Size and Volume Forecast by Types
5.3.1. Crushing & Screening Equipment
5.3.2.
Civil Engineering Equipment
5.3.3.
Road Building Equipment
5.3.4.
Concrete Equipment
5.3.5.
Material Handling Equipment & Cranes
5.3.6.
Earthmoving Equipment
5.3.7.
Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Construction Equipment Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Construction Equipment Market Size and Volume Forecast by Applications
6.3.1. Commercial
6.3.2.
Industrial
6.3.3.
Residential
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Construction Equipment Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Construction Equipment Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Construction Equipment Demand Share Forecast, 2019-2026
8. North America Construction Equipment Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Construction Equipment Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Construction Equipment Market Size and Volume Forecast by Types
8.4.1. Crushing & Screening Equipment
8.4.2.
Civil Engineering Equipment
8.4.3.
Road Building Equipment
8.4.4.
Concrete Equipment
8.4.5.
Material Handling Equipment & Cranes
8.4.6.
Earthmoving Equipment
8.4.7.
Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Construction Equipment Market Size and Volume Forecast by Applications
8.7.1. Commercial
8.7.2.
Industrial
8.7.3.
Residential
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Construction Equipment Demand Share Forecast, 2019-2026
9. Latin America Construction Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Construction Equipment Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Construction Equipment Market Size and Volume Forecast by Types
9.4.1. Crushing & Screening Equipment
9.4.2.
Civil Engineering Equipment
9.4.3.
Road Building Equipment
9.4.4.
Concrete Equipment
9.4.5.
Material Handling Equipment & Cranes
9.4.6.
Earthmoving Equipment
9.4.7.
Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Construction Equipment Market Size and Volume Forecast by Applications
9.7.1. Commercial
9.7.2.
Industrial
9.7.3.
Residential
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Construction Equipment Demand Share Forecast, 2019-2026
10. Europe Construction Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Construction Equipment Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Construction Equipment Market Size and Volume Forecast by Types
10.4.1. Crushing & Screening Equipment
10.4.2.
Civil Engineering Equipment
10.4.3.
Road Building Equipment
10.4.4.
Concrete Equipment
10.4.5.
Material Handling Equipment & Cranes
10.4.6.
Earthmoving Equipment
10.4.7.
Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Construction Equipment Market Size and Volume Forecast by Applications
10.7.1. Commercial
10.7.2.
Industrial
10.7.3.
Residential
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Construction Equipment Demand Share Forecast, 2019-2026
11. Asia Pacific Construction Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Construction Equipment Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Construction Equipment Market Size and Volume Forecast by Types
11.4.1. Crushing & Screening Equipment
11.4.2.
Civil Engineering Equipment
11.4.3.
Road Building Equipment
11.4.4.
Concrete Equipment
11.4.5.
Material Handling Equipment & Cranes
11.4.6.
Earthmoving Equipment
11.4.7.
Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Construction Equipment Market Size and Volume Forecast by Applications
11.7.1. Commercial
11.7.2.
Industrial
11.7.3.
Residential
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Construction Equipment Demand Share Forecast, 2019-2026
12. Middle East & Africa Construction Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Construction Equipment Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Construction Equipment Market Size and Volume Forecast by Types
12.4.1. Crushing & Screening Equipment
12.4.2.
Civil Engineering Equipment
12.4.3.
Road Building Equipment
12.4.4.
Concrete Equipment
12.4.5.
Material Handling Equipment & Cranes
12.4.6.
Earthmoving Equipment
12.4.7.
Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Construction Equipment Market Size and Volume Forecast by Applications
12.7.1. Commercial
12.7.2.
Industrial
12.7.3.
Residential
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Construction Equipment Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Construction Equipment Market: Market Share Analysis
13.2. Construction Equipment Distributors and Customers
13.3. Construction Equipment Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Zoomlion
13.4.2.
Sany Heavy Industries
13.4.3.
Xuzhou Construction Machinery Group
13.4.4.
Komatsu Ltd.
13.4.5.
Caterpillar Inc.
13.4.6.
Liebherr-International AG
13.4.7.
CNH Industrial NV
13.4.8.
Kobelco Construction Ma