Construction Machinery Market

Construction Machinery Market by Machinery Types (Cranes, Telescopic Handlers, Excavator, Loaders & Backhoe, Motor Grader, and Others), Drive Types (Hydraulic, Electric and Hybrid), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CM-1735
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
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The global construction machinery market size was USD 161 billion in 2020 and is expected to reach USD 228 billion by 2028, expanding at a CAGR of 5.9% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for heavy construction machinery in emerging countries.

Construction Machinery Market key Takeaways

The construction machinery industry has been hit hard due to the COVID-19 outbreak. Construction developers, contractors, and supply chain suppliers have been hampered due to this pandemic. This began with the closure of multiple construction projects in China, the UK, India, and then across the globe. The closedown of production facilities led to a sharp decline in the output of various materials from steel to cement. This led to the heavy investment in in large-scale public infrastructure projects by local authorities and companies of respective countries, changing the market scenario. For instance, in March 2021, the UK government allocated more than USD 16 billion for the development of construction projects in the energy and public utilities sectors.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising global infrastructure is expected to boost the market growth during the forecast period.
  • Rapid growth of the construction industry for infrastructure development in developing countries is one of the major factors driving the market growth in the coming years.
  • Increased number of construction and industrial development projects is anticipated to drive the market growth during the forecast period.
  • High maintenance cost of construction machinery can hamper the market growth.
  • Lacks of skilled operators can restrict the market growth during the forecast period.
  • Increasing R&D investment, ongoing technological advancement in the construction machinery industry and increasing smart city development are projected to create lucrative opportunities for the market players.

Scope of the Report

The report on the global construction machinery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Construction Machinery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Machinery Types (Cranes, Telescopic Handlers, Excavator, Loaders & Backhoe, Motor Grader, and Others) and Drive Types (Hydraulic, Electric and Hybrid)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Caterpillar Inc., Komatsu Ltd., CNH Industrial NV, Liebherr-International Deutschland GmbH, Kobelco Construction Machinery Co. Ltd.

 

Global Construction Machinery Market Segment Insights

Crane segment is projected to hold a major market share

Based on machinery types, the market is divided into cranes, telescopic handlers, excavator, loaders &backhoe, motor grader, and others. The crane segment is expected to represent a key market share during the forecast period owing to rising development of large-scale construction projects across the globe. Several construction projects are being planned in Europe. Germany, France, and Italy, which includes port expansion and development of underwater tunnels to Europe-based countries. Rising cranes sales determines that the construction market is not only stable but also booming across the globe. On the other hand, the excavator segment is anticipated to expand at a rapid pace during the forecast period due to the increasing excavation or digging at confined spaces, which has promoted the development of compact excavators. Excavators are enhanced by integrating telematics and convenience and safety technologies, such as elevators and touch screen infotainment systems, to provide enhanced operating capabilities.

Construction Machinery Market by Machinery Types

Hydraulic segment is expected to grow at a robust pace

On the basis of drive types, the construction machinery market is bifurcated into hydraulic, electric, and hybrid. The hydraulic segment is expected to hold a significant market share during the forecast period due to their capability of moving heavier loads and provide more power than mechanical, electrical or pneumatic systems. Hydraulic system allows to easily handle various weights without the use of heavy gears, pulleys or levers and is simple, safe and inexpensive owing to the few moving parts as compared to mechanical and electrical systems, which makes maintenance easier.

 Asia Pacific is expected to dominate the market

In terms of regions, the construction machinery market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. The regional market growth is attributed to the presence of the construction machinery market, with a huge market share of countries such as China, India and Japan. Companies are launching region-specific products. For instance, in December 2020, Komatsu announced that it would launch affordable excavators in Southeast Asia. Moreover, the awareness of the dependence on gasoline and diesel have encouraged the company to set ambitious goals to reduce carbon dioxide emissions by 2040. For example, in January 2021, Komatsu announced a partnership with Proterra for the development of battery for Komatsu electric hydraulic excavators. Proterra Battery systems is expected to test electric excavator by the end of 2021.

The Middle East & Africa and Latin America are expected to provide lucrative opportunities for the industry players. This is due to the economic improvement and foreign investment, which are expected to promote further infrastructure development and construction activities in these regions.

Construction Machinery Market by Regions

Segments

Segments Covered in the Report
The global construction machinery market has been segmented on the basis of

Machinery Types

  • Cranes
  • Telescopic Handlers
  • Excavator
  • Loaders & Backhoe
  • Motor Grader
  • Others

Drive Types

  • Hydraulic
  • Electric and Hybrid

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Caterpillar Inc.
  • Komatsu Ltd.
  • CNH Industrial NV
  • Liebherr-International Deutschland GmbH
  • Kobelco Construction Machinery Co. Ltd.

Competitive Landscape

Key players competing in the construction machinery market include Caterpillar Inc., Komatsu Ltd., CNH Industrial NV, Liebherr-International Deutschland GmbH, and Kobelco Construction Machinery Co. Ltd.

The construction machinery market is characterized by the presence of many international and regional players, which has led to a highly competitive market environment.

In January, 2021 - Caterpillar has introduced three new large excavators and two Ultra High Definition (UHD) demolition machines for the market in Europe, Asia and Africa. The large Cat 352, 374 and 395 are the three excavators, which weigh 50 tons, 72tons and 94tons respectively.

Construction Machinery Market by key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Construction Machinery 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 Machinery Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Construction Machinery Market - Supply Chain
  4.5. Global Construction Machinery Market Forecast
     4.5.1. Construction Machinery Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Construction Machinery Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Construction Machinery Market Absolute $ Opportunity
5. Global Construction Machinery Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Construction Machinery Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Construction Machinery Demand Share Forecast, 2019-2026
6. North America Construction Machinery Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Construction Machinery Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Construction Machinery Demand Share Forecast, 2019-2026
7. Latin America Construction Machinery Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Construction Machinery Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Construction Machinery Demand Share Forecast, 2019-2026
8. Europe Construction Machinery 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
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Construction Machinery Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Construction Machinery Demand Share Forecast, 2019-2026
9. Asia Pacific Construction Machinery 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. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Construction Machinery Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Construction Machinery Demand Share Forecast, 2019-2026
10. Middle East & Africa Construction Machinery 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. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Construction Machinery Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Construction Machinery Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Construction Machinery Market: Market Share Analysis
  11.2. Construction Machinery Distributors and Customers
  11.3. Construction Machinery Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Caterpillar Inc.
     11.4.2. Komatsu Ltd.
     11.4.3. CNH Industrial NV
     11.4.4. Liebherr-International Deutschland GmbH
     11.4.5. Kobelco Construction Machinery Co. Ltd.

Segments Covered in the Report
The global construction machinery market has been segmented on the basis of

Machinery Types

  • Cranes
  • Telescopic Handlers
  • Excavator
  • Loaders & Backhoe
  • Motor Grader
  • Others

Drive Types

  • Hydraulic
  • Electric and Hybrid

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Caterpillar Inc.
  • Komatsu Ltd.
  • CNH Industrial NV
  • Liebherr-International Deutschland GmbH
  • Kobelco Construction Machinery Co. Ltd.

Key players competing in the construction machinery market include Caterpillar Inc., Komatsu Ltd., CNH Industrial NV, Liebherr-International Deutschland GmbH, and Kobelco Construction Machinery Co. Ltd.

The construction machinery market is characterized by the presence of many international and regional players, which has led to a highly competitive market environment.

In January, 2021 - Caterpillar has introduced three new large excavators and two Ultra High Definition (UHD) demolition machines for the market in Europe, Asia and Africa. The large Cat 352, 374 and 395 are the three excavators, which weigh 50 tons, 72tons and 94tons respectively.

Construction Machinery Market by key Players

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