The Construction Equipment Market Report is Segmented by Equipment Type (Earthmoving, and More), Propulsion Type (Internal Combustion (Diesel & CNG/LNG), and More), Equipment Size/Weight (Heavy (Above 11 Tons), and More), Power Output (Up To 250 HP, and More), Application (Infrastructure, and More), Sales Channel (New Equipment, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

According to Cognitive Market Research, the global Construction Equipment market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of XX % from 2025 to 2033. • North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX % from 2025 to 2033. • Europe accounted for a share of over XX% of the global market size of USD XX million. • Asia Pacific held the market of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX % from 2025 to 2033. • Latin America market of more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX from 2025 to 2033. • Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX % from 2025 to 2033. Market Dynamics

Key Drivers

Building a Greener Futureis a Trends in Sustainable Construction Practices and thus driving this market 

The growing demand for sustainable and green construction practices significantly boosting the construction equipment market particularly in areas like electric heavy equipment and sustainable material handling. For instance, Companies like Caterpillar and Volvo have been developing electric excavators, loaders and compactors, which are designed to run on clean energy.

These machines produce zero emissions on-site, reduce noise pollution and lower operating costs over time, as electricity is cheaper than diesel fuel. While the initial investment may be higher, and there are still some challenges to overcome, the long-term savings and environmental benefits are undeniable. In 2025, the construction industry could see a more widespread adoption of fully electric machinery, with more charging infrastructure on construction sites and improved battery life that allows for longer work hours without interruption. The electrification of heavy machinery could change the industry more than any other sustainable effort in construction with global electric construction equipment market to grow xx% to XX billion in 2032

Also, sustainability in construction isn’t just about the machinery but how the energy is managed on the site for this Smart Energy Management system comes into play and become active part in construction projects in 2025. these systems incorporate IOT devices, sensors and data analytics to track energy consumption across the job site also providing insights that where efficiencies can be made.

Source- https://www.conexpoconagg.com/news/3-sustainable-construction-equipment-trends-for-20

Rapid Urbanization creating market oppurtunities in construction equipment market

Rapid urbanization directly creates market opportunities in the construction equipment industry because it fuels a surge in infrastructure, commercial, and residential construction projects. This increased demand for construction equipment is a direct result of the population shifts and economic growth associated with urbanization . A recent and compelling example of rapid urbanization driving a surge in construction equipment demand is the ongoing transformation of India's infrastructure sector. Between 2022 and 2024, the Indian construction equipment market experienced significant growth, with sales surpassing XX units in FY 2023–24, a substantial increase from the previous year. This surge is primarily attributed to the government's substantial investments in infrastructure development, including the National Infrastructure Pipeline (NIP), which has allocated over XX crore for projects such as highways, bridges, and urban transit systems. The rapid urbanization of cities like Pune, Bengaluru, and Hyderabad has further intensified the demand for construction equipment. These urban centers are undergoing extensive development to accommodate growing populations and economic activities. For instance, the expansion of the National Highways network, which increased by 59% from 91,287 km in 2013–14 to 144,634 km by November 2022, has necess...

The global construction equipment market is poised to reach US$ 128.3 billion in 2024 and climb to a value of US$ 191.7 billion by the end of 2034. Worldwide sales of construction equipment are evaluated to rise at a CAGR of 4.1% from 2024 to 2034.

Report Attribute	Detail
Construction Equipment Market Size (2024E)	US$ 128.3 Billion
Forecasted Market Value (2034F)	US$ 191.7 Billion
Global Market Growth Rate (2024 to 2034)	4.1% CAGR
East Asia Market Share (2024E)	28.7%
North America Market Share (2024E)	22.5%
Market Share of Earth Moving Machinery (2024E)	27.4%
Key Companies Profiled	J C Bamford Excavators Ltd.; Deere & Company; Kobelco Construction Machinery Co. Ltd.; Caterpillar; CNH Industrial N.V; Doosan Corporation; Escorts Limited; Hitachi Construction Machinery Co. Ltd.; Hyundai Construction Equipment Co. Ltd.; Komatsu Ltd.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 22.7 Billion
Growth Rate (2024 to 2034)	4% CAGR
Projected Value (2034F)	US$ 33.6 Billion

Attribute	China
Market Value (2024E)	US$ 19.7 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 29.4 Billion

Category-wise Insights

Attribute	Earth Moving Machinery
Segment Value (2024E)	US$ 73.6 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 110.3 Billion

Attribute	Distributors
Segment Value (2024E)	US$ 94.3 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 140.7 Billion

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.

The Pre-Owned Construction Equipment Market is segmented by product type (Crane, Telescopic Handler, Excavator, Material Handling Equipment, Loader and Backhoe, and Others), by drive type (Internal Combustion Engine, Electric, and Hybrid), and by Geography (North America, Europe, Asia-Pacific, and Rest of World). The market size and forecast in value (USD Billion) for all the above segments.

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Europe Construction Equipment Market Size 2025-2029

The construction equipment market size in Europe is forecast to increase by USD 6.91 billion at a CAGR of 3.9% between 2024 and 2029.

The European construction equipment market is experiencing significant growth, driven by increasing government infrastructure investments and the rising demand for electric construction equipment. These trends are shaping the industry landscape, with electric equipment gaining traction due to its environmental benefits and cost savings over time. The construction equipment landscape is further shaped by the ongoing development of green city projects and the integration of steel and real estate investments. However, the high cost associated with purchasing and maintaining construction equipment remains a challenge for market participants.


As governments continue to invest in infrastructure projects and the push for sustainability intensifies, the European construction equipment market is poised for continued growth. Companies in this sector must navigate these trends and address cost concerns to remain competitive and capture market share. Urban expansion, including high-rise apartments, is driving the use of concrete mixer, motor grader, and loaders and backhoe combinations for efficient site preparation.

What will be the Size of the Market During the Forecast Period?

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The European construction equipment market encompasses various sectors, including IoT-enabled light-duty vehicles, telescopic handling solutions, and OEMs specializing in construction machinery and non-road mobile machinery. This dynamic industry embraces advanced technologies such as automation, AI-driven analytics, virtual reality, and augmented reality. Major players in this domain include Mack Trucks, focusing on IC engine technologies, and those developing AI-based twin technology for earthmoving machinery like excavators and loaders. The housing sector and infrastructure projects fuel market growth, with emission norms driving the adoption of diesel particulate filters and engine technologies. Inland waterway vessels and railroad engines also contribute to the market's diversity, while the transportation sector's increasing focus on green city projects further propels innovation.


Trends include the integration of telemetry data and real-time analytics, enabling predictive maintenance and optimization of telescopic handling and crane performance. Moreover, the market witnesses the emergence of autonomous machinery and AI-driven analytics in earthmoving machinery, excavators, and loaders and backhoes. The future of construction equipment lies in the seamless integration of technology and sustainability, ensuring efficient, cost-effective, and eco-friendly solutions for the industry.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Commercial
  Residential
  Infrastructure


Product

  Earthmoving equipment
  Material handling equipment
  Concrete equipment
  Road construction equipment
  Others


Fuel Type

  Diesel
  Gasoline
  Others


Engine Capacity

  Up to 250 HP
  250 to 500 HP
  More than 500 HP


Geography

  Europe

    France
    Germany
    Italy
    UK

By Application Insights

The commercial segment is estimated to witness significant growth during the forecast period. The European construction industry has witnessed substantial growth, leading to a heightened demand for construction equipment. This trend is driven by various factors, including urbanization, infrastructure development, and increased construction activity. Consequently, the market for construction machinery, including Truck Mounted Cranes, Compact electric excavators, and Earth moving equipment, has experienced significant growth. For instance, the construction of the Nord Stream 2 pipelines in Germany necessitated the use of specialized equipment such as cranes, excavators, and concrete pumps. Furthermore, the housing sector's recovery and the development of Green City Projects have fueled the demand for Construction machinery, Motor Graders, Concrete Mixers, and other equipment.

The European construction equipment market is experiencing significant growth, driven by increasing government infrastructure investments and the rising demand for electric construction equipment. Digitalization and automation have also influenced the market, with AI-driven analytics, IoT, and virtual reality technologies being integrated into various equipment types. The European construction industry's sustainability goals have led to the adoption of IC Engines, Diesel particulate filters, and other emission cont

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Construction Machinery Market Size 2025-2029

The construction machinery market size is forecast to increase by USD 39.8 billion, at a CAGR of 3.9% between 2024 and 2029.

The market is experiencing significant growth, driven by increased investment in infrastructure projects worldwide. This trend is expected to continue, creating ample opportunities for market participants. Another key driver is the growing trend of construction equipment rentals, which offers flexibility and cost savings for businesses. The secondhand machine industry is also expanding, providing an affordable alternative for small and medium-sized enterprises. However, the market faces challenges, including the high initial investment costs for new machinery and the increasing demand for energy-efficient and environmentally friendly equipment.
Additionally, the volatility of raw material prices and economic instability in certain regions pose significant risks. To capitalize on opportunities and navigate challenges effectively, companies must focus on innovation, cost efficiency, and sustainability. Investing in research and development of energy-efficient machinery and exploring rental business models can help businesses stay competitive and profitable in the evolving the market.

What will be the Size of the Construction Machinery Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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Compaction equipment and concrete mixers ensure optimal construction site conditions, while haul trucks and rental services offer flexibility for businesses. Lifting capacity and safety features are essential for motor graders and crawler tractors, and aftermarket parts and transmission systems ensure seamless operation. GPS guidance and maintenance schedules optimize productivity, and tire pressure monitoring enhances safety. Environmental impact is a growing concern, with hydraulic breakers and diesel engines adhering to emission standards. Hydraulic systems and safety features are essential for ensuring optimal performance and worker safety. A robust dealer network and operating weight specifications provide businesses with the necessary support and flexibility to meet their unique needs. Boom length and bucket capacity are essential considerations for various applications, and emission standards continue to evolve, driving innovation in the market.

How is this Construction Machinery Industry segmented?

The construction machinery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Commercial
  Residential
  Infrastructure


Product

  Earthmoving machinery
  Material handling machinery
  Concrete and road construction machinery
  Others


End-user

  Public works
  Mining
  Oil and gas


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

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

The market encompasses a range of equipment used in various applications, including terrain adaptation, material handling, heavy lifting, site preparation, road construction, and infrastructure development. Hydraulic fluid plays a crucial role in the smooth operation of these machines, while remote control technology enhances efficiency and safety. Lease agreements offer flexible financing options for businesses, enabling them to manage operating costs effectively. Payload capacity and lifting capacity are essential considerations for machines used in heavy lifting tasks, such as cranes and excavators. Ground engaging tools and undercarriage components require regular maintenance and replacement, contributing to the demand for wear parts and parts supply.

Waste management equipment, such as concrete mixers and compactors, are integral to the construction process. Engine power and fuel consumption are significant factors in the selection and operation of construction machinery. Environmental impact and safety features are increasingly important considerations, with emission standards and tire pressure monitoring systems becoming standard features. Autonomous systems and precision control technologies are driving innovation in the market, enabling increased productivity and efficiency. In the commercial segment, the construction of commercial buildings, such as offices, hotels, and schools, is expected to drive market growth. Infrastructure development projects, including road construction and soil stabilization, are also significant c

Heavy Construction Equipment Market will grow from USD 222.16 billion in 2025 to USD 344.05 billion by 2034 , showing an impressive CAGR of 5.0%

The construction equipment market size was valued at USD 238.9 billion in 2025 and is projected to reach a valuation of USD 424.5 billion by the end of 2038, rising at a CAGR of 4.5% during the forecast period, i.e., 2026-2038. APEJ industry is expected to hold 52.6% share during the forecast period as a result of increasing urbanization, infrastructure investment, and manufacturing expansion.

The compact construction equipment market demonstrates resilience, with market value expected to rise from USD 35.6 billion in 2025 to USD 48.2 billion by 2035, registering a compound annual growth rate (CAGR) of 3.1% during the forecast period.

Metric	Value
Market Size (2025E)	USD 35.6 billion
Market Value (2035F)	USD 48.2 billion
CAGR (2025 to 2035)	3.1%

Semi-Annual Market Update for the Compact Construction Equipment Market

Particular	Value CAGR
H1 (2024 to 2034)	2.9%
H2 (2024 to 2034)	3.1%
H1 (2025 to 2035)	3.0%
H2 (2025 to 2035)	3.2%

Country-wise Analysis

Countries	CAGR (2025 to 2035)
United States	3.4%
Germany	3.1%
China	3.6%
India	3.8%
Brazil	2.9%

The North American construction equipment market was estimated at almost **** 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 global market for heavy construction equipment is expected to increase continuously in the upcoming years based on a 2020 forecast. By 2030, this market is expected to be worth over *** billion U.S. dollars.

Construction Equipment Market size reached USD 189.9 billion in 2022 and is estimated to reach USD 261.9 billion in 2030 and the market is estimated to grow at a CAGR of 4.1% till 2030

The Construction Equipment Market size was valued at USD 223.56 billion in 2023 and is projected to reach USD 393.19 billion by 2032, exhibiting a CAGR of 8.4 % during the forecasts period. The construction equipment market is a vast one that deals with all the equipments and tools that may be utilized for construction, destruction of a structure & making of structures. Some of the main equipment are the excavator, the bulldozer, cranes, and the loaders which enable activities like excavation, lifting and material transportation respectively. Some of the factors that are advancing this market include rising urban population, the development of infrastructures, and the use of the internet of things and automation in equipment. Concerning innovation we identified patterns towards sustainability / eco-friendliness and fuel efficiency, thus the rising importance of electric and hybrid equipment. Besides, the demand for innovative solutions in construction such as telematics and big data is already changing the construction landscape with optimal job site operation efficiency and reduced risk. Recent developments include: In November 2023, Komatsu Ltd. through its subsidiary, Komatsu America Corp. agreed to acquire American Battery Solutions, Inc., a battery manufacturer based in the U.S. The acquisition of American Battery Solutions, Inc. would allow Komatsu Ltd. to manufacture and develop its own battery-operated mining and construction equipment by integrating American Battery Solutions, Inc.’s battery technology with Komatsu Ltd.’s expertise. , In October 2023, CASE Construction Equipment, a brand of CNH Industrial N.V., launched a lineup of small articulated loaders and mini track loaders, providing small contractors with construction-grade power to tackle more jobs with less manual labor. , In May 2023, Caterpillar Inc. unveiled the updated Cat D10 Dozer designed for tough construction environments and challenging job sites. The dozer incorporates a load-sensing hydraulics and stator clutch torque converter to effectively transmit power to the ground. , In May 2023, Hitachi Construction Machinery Co., Ltd. launched ZAXIS-7 compact excavators designed to enhance task efficiency on urban work sites. The company also launched ZX75US-7 model that featured an ultra-short-tail swing radius, which allowed access to small spaces. In addition, the ZX85USB-7 model, with its swing boom and ultra-short-tail swing radius, enabled productive excavation near walls and guardrails. .

The Compact Construction Equipment Market Share size & share value expected to touch USD 59.97 billion by 2034, to grow at a CAGR of 5.1% during the forecast period.

Europe Construction Equipment Market is projected to reach USD 72.14 billion by 2032, growing at a CAGR of 4.73% from 2024-2032.

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.

Global Heavy Construction Equipment market size is expected to reach $278.14 billion by 2029 at 6.6%, government-led infrastructure expansion fuels growth in the heavy construction equipment market

North America Construction Equipment Market size will be USD 60500.48 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

The Latin America Construction Equipment market reached USD 7,833.1 million in 2020. Demand for Construction Equipment in Latin America saw a 4.3% year-on-year growth in 2025, suggesting an expansion of the market to USD 9,994.1 million in 2025. Projections for the period between 2025 and 2035 indicate a 4.8% compound annual growth rate (CAGR) for Latin America Construction Equipment sales, resulting in a market size of USD 18,067.7 million by the end of 2035.

Attributes	Key Insights
Estimated Value (2025)	USD 9,994.1 million
Projected Size (2035)	USD 18,067.7 million
Value-based CAGR (2025 to 2035)	4.8%

Semi Annual Latin America Construction Equipment Market Update

Particular	Value CAGR
H1 2024	4.4% (2024 to 2034)
H2 2024	5.0% (2024 to 2034)
H1 2025	4.5% (2025 to 2035)
H2 2025	5.1% (2025 to 2035)

Top Countries Deploying and Investing in Construction Equipment in Latin America

Countries	Value CAGR (2025 to 2035)
Argentina	4.5%
Brazil	4.1%
Chile	3.6%

Construction Equipment Market Analysis by Equipment Type, Power Output, and End Use – Latin America

Segment	Hydraulic (Drive Type)
Value Share (2025)	62.1%

Segment	Industrial (End Use)
Value Share (2025)	37.8%