The Chinese construction equipment market was estimated at more than **** billion U.S. dollars in 2021. The market is expected to grow by a compound annual growth rate of about *** percent between 2022 and 2027, reaching the size of some ** billion U.S. dollars in 2027.

The China Construction Equipment Market Report is Segmented by Machinery Type (Earth-Moving Machinery, Material-Handling Machinery, and More), Drive Type (Internal-Combustion, Hybrid, and More), Sales Channel (OEM Direct Sales, and Authorized Dealer Sales), and Application (Building Construction, Infrastructure Construction, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Chinese construction equipment market by volume is anticipated to surpass 835 thousand units by 2029 and is growing at a CAGR of 2.05% during the forecast period.

Discover the booming China construction machinery market! This in-depth analysis reveals a market projected to reach $XX million by 2025, driven by infrastructure development, urbanization, and renewable energy projects. Explore key trends, leading companies (XCMG, Sany Group, Caterpillar), and regional insights. Recent developments include: November 2022: XCMG confirmed signed purchasing contracts worth USD 60 million with four major global suppliers, Kawasaki Heavy Industries, Linde Hydraulics AG, Danfoss A/S, and Daimler SE, to build a high-end global supply chain network and maintain resilience in the global construction equipment manufacturing industry. The contracts were signed at the ongoing China International Import Expo (CIIE) in Shanghai., November 2022: XCMG chose Allison transmissions as their exclusive transmission supplier for all-terrain cranes. Allison's new 4970 Specialty Series (SP) transmission will debut in the XCMG XCA400L8 all-terrain crane model., October 2022: Shantui delivered its first DL300G bulldozer to a customer in Hong Kong. The machine would be deployed in prestigious construction projects like the construction of the third runway of Hong Kong International Airport, the SUEZ landfill, and Discovery Bay Golf Course in Hong Kong., August 2022: XCMG announced the building of its second XE7000 hydraulic excavator. The new XE7000 features a backhoe design with a larger bucket capacity and higher operating efficiency, which is claimed to fully meet the needs of mining customers.. Key drivers for this market are: Electrification of Construction Equipment May Propel the Market Growth. Potential restraints include: Construction Rental Business May Hamper Market Growth. Notable trends are: Growing Demand for Excavators to Drive the Market..

China is expected to account for more than ** percent of the global construction equipment market in 2027. That year, about ******* units are expected to be sold in China. Globally, some *** million units of construction equipment are forecast to be sold in 2027. Global construction equipment market size forecast China, North America, and Europe were the largest markets for construction equipment in 2022. While these markets will likely have to face challenges, India is expected to emerge as a growth driver in the coming years. In emerging markets such as India, increasingly affluent consumers are predicted to drive demand for larger residential structures and developments in infrastructure, while some experts also see bullish trends in industrial countries, where construction activity is expected to increase to fix aging infrastructure. Construction equipment definition The term construction equipment refers to machinery designed for executing construction tasks. Crawler dozers, crawler excavators, aerial work platforms and wheel loaders rank among the most important product categories in this industry. The leading manufacturers of construction equipment include Caterpillar of the United States, Sweden’s Volvo, Komatsu and Hitachi of Japan, as well as Switzerland’s Liebherr. XCMG and SANY are among China’s leading manufacturers of heavy machinery.

China Construction Equipment Market size was valued at USD 24.74 Billion in 2024 and is projected to reach USD 36.49 Billion by 2032, growing at a CAGR of 5.40% from 2026 to 2032. Key Market Drivers:Demand for Infrastructure Development: The demand for infrastructure development in China is expected to drive the construction equipment market. With significant investments from both the government and private sectors, large-scale projects in transportation, energy, and urbanization are projected to increase the need for construction machinery. according to verified market research, the country plans to invest approximately 1.2 Trillion Yuan ($173 Billion) in transport infrastructure projects in 2024. Urbanization: Urbanization in China is anticipated to continue at a rapid pace, creating a growing demand for residential and commercial construction projects. As more people migrate to cities, the demand for construction equipment is expected to rise to meet the needs of expanding urban areas. China's National Bureau of Statistics reported that the urbanization rate reached 66.12% in 2023, with plans to achieve 70% by 2025.

Discover the booming China construction machinery market! This in-depth analysis reveals a projected CAGR of 5.10% through 2033, driven by infrastructure investment and technological advancements. Explore market size, segmentation, key players (Sany, XCMG, Caterpillar), and regional trends. Recent developments include: November 2022: XCMG confirmed signed purchasing contracts worth USD 60 million with four major global suppliers, Kawasaki Heavy Industries, Linde Hydraulics AG, Danfoss A/S, and Daimler SE, to build a high-end global supply chain network and maintain resilience in the global construction equipment manufacturing industry. The contracts were signed at the ongoing China International Import Expo (CIIE) in Shanghai., November 2022: XCMG chose Allison transmissions as their exclusive transmission supplier for all-terrain cranes. Allison's new 4970 Specialty Series (SP) transmission will debut in the XCMG XCA400L8 all-terrain crane model., October 2022: Shantui delivered its first DL300G bulldozer to a customer in Hong Kong. The machine would be deployed in prestigious construction projects like the construction of the third runway of Hong Kong International Airport, the SUEZ landfill, and Discovery Bay Golf Course in Hong Kong., August 2022: XCMG announced the building of its second XE7000 hydraulic excavator. The new XE7000 features a backhoe design with a larger bucket capacity and higher operating efficiency, which is claimed to fully meet the needs of mining customers.. Notable trends are: Growing Demand for Excavators to Drive the Market..

China is one of the largest manufacturing countries and consumers of construction equipment in the world. Revenue for the Construction Equipment Manufacturing industry is expected to decrease at an annualized 9.7% over the five years through 2025, to $46.1 billion. The industry has developed rapidly in the past few years. Industry profit is expected to total 5.6% of revenue in 2025. In the past few years, due to the continuous development of technology, the added value of the industry's products has increased, thus boosting the profit margin. However, the market size of the industry is large, but the competition is also fierce. In order to cope with fierce market competition, industry leading companies have to participate in price war, which further squeezed the industry profit margins. The Government encourages the development of small and medium-sized enterprises, and helps them introduce new production technology and financial support. The number of enterprises increases by 1.7% on average over the five years through 2025. To increase market share and improve competitiveness, large enterprises actively expand overseas markets. The exports have grown rapidly in the past few years, mainly due to technological advances and the increase in construction projects with foreign cooperation. Industry exports are expected to grow at a CAGR of 25.3% over the past five years through 2025, with share of industry revenue increasing from 7.3% in 2020 to 37.3% in 2025. Due to the continuous innovation of manufacturing technology of domestic enterprises, the industry's dependence on competing imports is lower. Over the past five years, the annualized rate of imports has declined by 8.6%. Over the next five years, multiple factors, including the renewal of urban underground pipeline networks, the renovation of old residential communities, and the construction of smart city infrastructure, and implementation of national strategic projects, will continue to provide baseline demand for construction equipment. Industry revenue is expected to increase an annualized 12.0% over the five years through 2030 to total $81.1 billion.

Employment statistics on the Construction Equipment Manufacturing industry in China

China Construction Equipment Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

In China Heavy Construction Equipment Market, is projected to grow from USD 21.6 billion in 2025 to USD 3.1 billion by 2031, reflecting a CAGR of 8.1%

The Construction Equipment Services industry has developed steadily over the five years, due to increasing demand from industries such as the Building Construction industry (IBISWorld industry report 4710) and the various infrastructure construction industries (4721, 4725 and 4726). Industry revenue is expected to grow at an annualized 2.3% over the five years through 2024, to total $16.7 billion. This trend includes expected growth of 2.6% in the current year. National infrastructure projects like the Belt and Road Initiative, the Yangtze River Economic Belt and the Beijing-Tianjin-Hebei infrastructure project supported by the government have increased demand for industry services. However, market demand growth has been slowing in line with decelerating downstream industry growth. In addition, profitability is expected to decrease from 12.2% in 2011 to 10.1% in 2024. Industry enterprise numbers are expected to increase at an annualized 1.9% over the five years through 2024. Small-scale private enterprises account for a large proportion of enterprises. Industry revenue is forecast to increase at an annualized 2.5% over the five years through 2029, to total $18.9 billion. Growing demand is anticipated to come from more infrastructure construction and social security housing construction. Further trends forecast to affect the industry include increased merger and acquisition activity, more foreign companies entering the industry, and a shift toward more high-end construction equipment services. Overall, the construction equipment industry is developing towards a more intelligent, digital, and green direction to adapt to constantly changing market demands and technological advancements.

Booming at a 5.3% CAGR, the used construction machinery market is projected to reach $142 billion by 2033. Driven by infrastructure growth and sustainability, this market offers lucrative opportunities. Learn about key players, regional trends, and future projections in our comprehensive analysis.

This statistic represents construction equipment manufacturers’ share of the Chinese construction equipment market in 2011. That year, Illinois-based Caterpillar reached a market share of around *** percent.

China Construction Material Testing Equipment Market is expected to grow during 2025-2031

In 2023, Bonafide Research reported the China Material Handling Construction Equipment market valued above USD 3 Billion. Rapid growth is attributed to expansive infrastructure ini

In China Electric Construction Equipment Market, more emphasis has been placed in recent years on using environmentally friendly building techniques, and now electric heavy equipment is joining the ranks of electric cars and public transportation as an ecologically acceptable alternative.

Global sales of construction equipment reached approximately *** million units in 2022. The global construction equipment market is projected to contract slightly between 2022 and 2027 with construction equipment sales predicted to hover around *** million unit mark. Construction equipment sales worldwide Until 2021, China was the largest construction equipment market worldwide. In 2022, however, North America overtook China with some ******* unit sales compared to ******* units sold in China that year. While it is projected that sales in North America will decrease in the following years and amount to some ******* unit sales in 2027, North America should remain the leading market. China will see its domestic construction equipment market growing but unit sales are expected to only reach ******* in 2027. Largest construction equipment manufacturer Caterpillar is the largest construction machinery manufacturer globally. In 2022, the company generated over ** billion U.S. dollars in revenue from construction equipment sales, followed by Japan’s Komatsu at about ** billion U.S. dollars.

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Used Construction Machinery Market Size 2023-2027

The used construction machinery market size is forecast to increase by USD 27.33 billion at a CAGR of 5.3% between 2022 and 2027.

The market is experiencing significant growth due to several key factors. One of the primary drivers is the expanding secondhand machine market, as construction companies increasingly turn to cost-effective solutions for acquiring equipment. Another trend influencing market growth is the rising popularity of used construction equipment rentals. This allows businesses to access high-quality machinery without the substantial upfront costs of purchasing new equipment. However, stringent regulations regarding the safety and maintenance of used machinery pose challenges for market growth. Adhering to these regulations can be costly, and failure to do so can result in penalties and reputational damage. Despite these challenges, the market is expected to continue expanding, driven by the cost savings and operational flexibility offered by used equipment.

What will be the Size of the Used Construction Machinery Market During the Forecast Period?

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The market in the United States is experiencing significant growth, driven by increased construction activities in the residential and commercial sectors, as well as infrastructure projects in the civil engineering sector. Urbanization and technological innovation are key factors fueling this demand, with online platforms providing easy access to a wide range of used heavy machinery, including excavators, loaders, cranes, motor graders, and more. Contractors in the real estate industry and OEMs are turning to these platforms to source cost-effective solutions for their projects. Europe's construction industry, particularly in the infrastructure sector, is also contributing to the market's growth, with projects such as railway tunnels, port extensions, and underwater tunnels requiring large quantities of used machinery.
The Olympic Games and other major events are further driving demand for cranes and other heavy machinery services from providers like Atlas Crane Service. Overall, the market is expected to continue its robust growth trajectory in the coming years.

How is this Used Construction Machinery Industry segmented and which is the largest segment?

The used construction machinery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Product

  Crane
  Excavator
  Material handling equipment
  Others


Application

  Commercial
  Residential
  Infrastructure


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Product Insights

The Crane segment is estimated to witness significant growth during the forecast period.

The market, specifically the crane segment, is experiencing consistent growth due to the increasing demand for cranes in construction and industrial applications. Cranes are essential for the construction of industrial plants in the chemical, energy, and power distribution sectors. In the construction industry, the increasing trend of building high-rise residential and commercial structures is driving the demand for used cranes. The Asia Pacific region and Nordic countries, such as Sweden and Finland, are expected to significantly contribute to the growth of the segment during the forecast period. The use of telematics in construction machinery is also gaining popularity, providing real-time data and improving efficiency and productivity.

Earthmoving equipment and loaders are other key components of the market, with their demand primarily driven by the residential and commercial construction sectors.

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The Crane segment accounted for USD 43.42 billion in 2017 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is experiencing steady growth due to increasing construction activities in emerging economies such as India and China. The demand for used machinery is being driven by the need to provide residential and commercial spaces for expanding urban populations and infrastructure projects. In India, for instance, the Odisha Economic Corridor Project received a USD8.58 billion investment in 2020, leading to the development of indust

Market Size statistics on the Construction Equipment Services industry in China