The construction equipment market share was 162.50 billion in 2023, and it is anticipated to increase at a CAGR of 6.76% from 2024 to 2032.

The Construction Equipment Market was valued at USD 162.50 billion in 2023 and is projected to grow to USD 295.40 billion by 2032, with a compound annual growth rate (CAGR) of 6.76% from 2024 to 2032.

Construction equipment market is used in heavy gear, such as excavators, loaders, tractor graders, and other instruments used in infrastructure, buildings, mining, irrigation, and agriculture. They are also used in activities that require diesel and gasoline. The construction equipment market trends are constantly encouraged to expand by technological breakthroughs, adaptations, and results. Heavy infrastructure market expenditures have been made to capture the market by supplying affordable construction equipment at lower capital costs, upgrading the newest heavy gear to be technologically simple, and reducing maintenance, repair, and shipping expenses.

Nations implement changes and regulations worldwide to improve their infrastructure and real estate. Due to the expansion of the construction machine company and industry in the area, it is projected that these reforms will accelerate the growth of the market for construction equipment. The spending on private construction projects has surged, particularly in the US and the UK, according to authorities in regions like North America and Europe. The total amount spent on building in the US rose by about 7.8% in January 2020 compared to January 2019, according to the Federal Reserve Bank of St. Louis. The demand for such technology in the construction industry would also expand with the development of green buildings, which aim to achieve ecological and aesthetic synchrony with the environment. Furthermore, the mining sector has grown, leading to a significant market driver in the industry and construction equipment supplier.

Construction Equipment Market Regional Analysis

Based on region, the market for construction equipment has been divided into China, India, Russia and Belarus, Turkey and the Caucasus, Southeast Asia, the Middle East, and Africa. China is the largest market for construction equipment. According to the National Development and Reform Commission of the People's Republic of China (NDRC), Ninety percent of significant projects in China restarted construction during the final week of March.

In the global market for construction equipment, the Middle East has been one of the fastest-expanding regional markets. The region's construction sector is anticipated to be driven by numerous megaprojects, including the megacity NEOM in Saudi Arabia and sizable football stadiums in Qatar for the FIFA World Cup in 2022.

Market Segmentation

The market segmentation for the construction equipment market is based on type, fuel, and application.

Based on types of construction equipment market, they are divided into:

• Excavator


• Crawler Excavators


• Mini Excavators


• Loaders


• Wheeled Loaders


• Dozers


• Skid Steer Loader/Compact Track Loader


• Tractor Loader Backhoe


• Graders


• Compaction Equipment

On the other side, gasoline and diesel are the two types of fuel type in the construction equipment market segmentation.

The construction equipment market has market segregation on the type of application; they are:

• Construction


• Infrastructure


• Oil & Gas, Mining


• Irrigation/Channel Clearing


• Industrial Application


• Quarrying


• Military


• Agriculture


• Rental

Key Players

The key players in the construction equipment market share are:

• AB Volvo


• Caterpillar Inc.


• Komatsu Ltd


• CNH Industrial


• Hitachi Construction Machinery Co. Ltd


• J C. Bamford Crawled Excavators Limited


• Liebherr Group


• XCMG


• Terex Corporation


• SANY Heavy Industry CO. LTD


• Hyundai Heavy Industries Ltd


• Sandvik Group


• Riwal, Cramo Plc


• Atlas Copco AB

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