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.

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Construction Equipment Market Size 2025-2029

The construction equipment market size is forecast to increase by USD 34 million at a CAGR of 4.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing number of new equipment launches. Manufacturers continue to innovate, introducing advanced technologies and improved designs to meet the evolving needs of the construction industry. A notable trend shaping the market is the rising adoption of electric construction equipment. Emission laws are pushing the industry towards cleaner solutions, such as hybrid dump trucks and autonomous machinery. Sustainability concerns and the need for reduced emissions are pushing contractors towards greener alternatives. However, challenges persist, including the high initial cost and maintenance requirements of construction equipment.
To capitalize on market opportunities, companies must focus on cost-effective solutions and financing options. Additionally, investing in research and development to improve equipment efficiency and reduce maintenance costs will be crucial for long-term success. Navigating these challenges requires a strategic approach, with a focus on innovation, cost optimization, and customer satisfaction. The market is poised for growth, with technological advancements and the integration of renewable energy sources shaping the future of the industry.

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

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The market is experiencing significant shifts as sustainable projects gain traction, prioritizing equipment efficiency and reduced emissions. Diesel engines continue to dominate the sector, powering construction machinery for national highway projects and material handling. However, technological integration is driving innovation, with automated equipment, battery technology, and electric construction equipment gaining ground.

Infrastructure projects, including municipal services and road infrastructure, are also adopting sustainable practices, leading to increased demand for advanced construction equipment. Industrial applications of these technologies can increase efficiency, reduce labor costs, and enhance safety. Mining equipment technologies, like fuel-efficient equipment and smart mining solutions, can also contribute to cost savings and environmental sustainability.

How is this Construction Equipment Industry segmented?

The construction equipment industry 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.

Product

  Owned equipment
  Rented equipment
  Leased equipment


Application

  Residential
  Infrastructure
  Commercial


Type

  Earthmoving equipment
  Material handling equipment
  Road construction equipment
  Concrete equipment
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

The owned equipment segment is estimated to witness significant growth during the forecast period. The market encompasses a vast array of machinery and vehicles, with the owned equipment segment holding a substantial value. This segment includes excavators, loaders, skid steers, and other construction-specific small machinery, as well as trucks, trailers, and heavy-duty vehicles. Ownership of this equipment is typically achieved through outright purchase or other means, resulting in the equipment being primarily operated, maintained, and integrated into the workflow of the construction company or contractor. Long-term contracts for sustainable construction projects are driving the demand for advanced, energy-efficient machinery, such as electric excavators and backhoes, hydraulic excavators, and hybrid dump trucks.

The loader market is experiencing growth due to the increasing focus on material handling and automation in construction activities. Heavy machinery, including bulldozers and graders, is essential for infrastructure projects, while forklifts are integral to commercial infrastructure and housing projects. Automated equipment, such as autonomous construction machinery and trenchers, is gaining traction in the industry, contributing to increased productivity and efficiency. Ozone emissions and greenhouse gas concerns are leading to the adoption of sustainable projects and the integration of technological advancements, like smart construction equipment and modular construction methods. Construction machinery leasing and rental services ar

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.

The Sweden Construction Equipment Market report segments the industry into By Equipment Type (Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, Other Construction Equipment) and By Drive Type (Hydraulic, Electric/Hybrid). We provide five years of historical data along with five-year market forecasts.

The global compact electric construction equipment market is set to reach a valuation of US$ 62.12 billion in 2024 and further expand at a CAGR of 13.2% to end up at US$ 214.63 billion by the year 2034.

Report Attributes	Details
Compact Electric Construction Equipment Market Size (2024E)	US$ 62.12 Billion
Forecasted Market Value (2034F)	US$ 214.63 Billion
Global Market Growth Rate (2024 to 2034)	13.2% CAGR
Canada Market Value (2034F)	US$ 16.74 Billion
South Korea Market Value (2024E)	US$ 4 Billion
Loader Demand Growth (2024 to 2034)	13.4% CAGR
Key Companies Profiled	J.C. Bamford Excavators Limited Caterpillar Deere & Company Hyster-Yale Group, Inc. SANY Group Volvo CE Hyundai Construction Equipment Co. Ltd. Toyota Motor Corporation Hyundai CE Bobcat Hitachi Construction Machinery Co. Ltd. Groupe Mecalac S.A.S. Wacker Neuson SE

Country-wise Analysis

Attribute	United States
Market Value (2024E)	US$ 10.45 Billion
Growth Rate (2024 to 2034)	13.6% CAGR
Projected Value (2034F)	US$ 37.34 Billion

Attribute	Japan
Market Value (2024E)	US$ 6.06 Billion
Growth Rate (2024 to 2034)	13.8% CAGR
Projected Value (2034F)	US$ 22.03 Billion

Category-wise Analysis

Attribute	Forklifts
Segment Value (2024E)	US$ 39.94 Billion
Growth Rate (2024 to 2034)	13.2% CAGR
Projected Value (2034F)	US$ 137.57 Billion

Attribute	Below 5 Tons
Segment Value (2024E)	US$ 26.40 Billion
Growth Rate (2024 to 2034)	13% CAGR
Projected Value (2034F)	US$ 89.93 Billion

The global market size of Construction Equipment & Heavy Equipment is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Construction Equipment & Heavy Equipment Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Construction Equipment & Heavy Equipment industry. The key insights of the report:
1.The report provides key statistics on the market status of the Construction Equipment & Heavy Equipment manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Construction Equipment & Heavy Equipment industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Construction Equipment & Heavy Equipment Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Construction Equipment & Heavy Equipment as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Construction Equipment & Heavy Equipment market
* Product Type I
* Product Type II
* Product Type III

For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Application I
* Application II
* Application III

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

China Construction Machinery: Sales Revenue: Year to Date data was reported at 324.753 RMB bn in Oct 2015. This records an increase from the previous number of 292.372 RMB bn for Sep 2015. China Construction Machinery: Sales Revenue: Year to Date data is updated monthly, averaging 154.874 RMB bn from Dec 2003 (Median) to Oct 2015, with 97 observations. The data reached an all-time high of 502.005 RMB bn in Dec 2011 and a record low of 8.492 RMB bn in Feb 2006. China Construction Machinery: Sales Revenue: Year to Date data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BHX: Mining, Metallurgy, Construction Special Equipment: Construction Machinery.

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).

The Canada Construction Equipment Market is Segmented by Equipment Type (Cranes, Telescopic Handlers, Excavators, Loaders and Backhoes, Motor Graders, and Other Machinery Types) and Drive Type (Internal Combustion Engine and Electric and Hybrid). The Report Offers the Market Size and Forecast in Value (USD) for all the Above Segments.

The Report Covers Asia-Pacific Construction Equipment Market Companies and it is segmented by Machinery Type (Cranes, Telescopic Handling, Excavator, Loaders, Backhoe, Motor Grader, and Others), Drive Type (IC Engine and Electric & Hybrid), and Country (China, India, Japan, South Korea, and Rest of Asia Pacific). The report offers the market size in value (USD Billion) and forecasts for all the above segments.

Revenue from the global construction equipment rental market is estimated to reach US$ 131.2 billion in 2024. The market has been projected to climb to a value of US$ 201.81 billion by the end of 2034, expanding at a CAGR of 4.4% between 2024 and 2034.

Report Attribute	Detail
Construction Equipment Rental Market Size (2024E)	US$ 131.2 Billion
Forecasted Market Value (2034F)	US$ 201.81 Billion
Global Market Growth Rate (2024 to 2034)	4.4% CAGR
North America Market Share (2024E)	27.6%
East Asia Market Value (2024E)	US$ 26.63 Billion
Earth Moving Machinery Segment Value (2034F)	US$ 110.39 Billion
Residential Construction Segment Value (2034F)	US$ 73.66 Billion
Key Companies Profiled	Titan Machinery Inc.; Associated Equipment Rentals Pvt. Ltd.; HSS ProService Ltd.; Kanamoto Co. Ltd.; United Rentals Inc.; Finning International Inc.; Herc Holdings Inc.; Aktio Corp.; Komatsu Ltd.; Sunstate Equipment Co., LLC; Cramo; Texas First Rentals.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 28.57 Billion
Growth Rate (2024 to 2034)	4.4% CAGR
Projected Value (2034F)	US$ 43.98 Billion

Attribute	Japan
Market Value (2024E)	US$ 5.89 Billion
Growth Rate (2024 to 2034)	4.8% CAGR
Projected Value (2034F)	US$ 9.45 Billion

Category-wise Insights

Attribute	Earth-Moving Machinery
Segment Value (2024E)	US$ 71.64 Billion
Growth Rate (2024 to 2034)	4.4% CAGR
Projected Value (2034F)	US$ 110.39 Billion

Attribute	Commercial Construction
Segment Value (2024E)	US$ 48.41 Billion
Growth Rate (2024 to 2034)	4.3% CAGR
Projected Value (2034F)	US$ 73.66 Billion

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. .

China Construction Machinery: Total Asset data was reported at 537.616 RMB bn in Oct 2015. This records a decrease from the previous number of 539.824 RMB bn for Sep 2015. China Construction Machinery: Total Asset data is updated monthly, averaging 436.815 RMB bn from Dec 2003 (Median) to Oct 2015, with 97 observations. The data reached an all-time high of 562.044 RMB bn in May 2014 and a record low of 50.382 RMB bn in Dec 2003. China Construction Machinery: Total Asset data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BHX: Mining, Metallurgy, Construction Special Equipment: Construction Machinery.

Smart Construction Equipment Market size is estimated to reach over USD 46.45 Billion by 2032 from a value of USD 18.95 Billion in 2024 and is projected to grow by USD 20.86 Billion in 2025, growing at a CAGR of 11.9% from 2025 to 2032.

Compact Construction Equipment Market Share size and share are expected to exceed USD 59.97 billion by 2034, with a compound annual growth rate (CAGR) of 5.1% during the forecast period.

Snapshot img

Heavy Construction Equipment Market Size 2025-2029

The heavy construction equipment market size is forecast to increase by USD 49.7 billion at a CAGR of 4.6% 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 lucrative opportunities for market participants. Fuel alternatives, including diesel engines and hydraulic systems, are essential components of heavy construction machinery. The secondhand machine market is also expanding, providing an affordable alternative for companies seeking to acquire equipment without the high upfront costs of new machinery.
Strategic partnerships, innovation, and operational efficiency are essential for success in the market. However, challenges persist in the form of intense competition, increasing raw material prices, and regulatory compliance, which may impact profitability. Companies must navigate these challenges effectively to capitalize on the market's potential and maintain a competitive edge. Manufacturing processes incorporate advanced engineering and quality control measures, while supply chain efficiency is enhanced through fleet management and raw materials sourcing strategies. Technological advances, including the adoption of battery technology, telematics, and automation, are driving innovation and improving efficiency, safety, and sustainability in the industry.

What will be the Size of the Heavy Construction Equipment 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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In the market, product lifecycle management plays a crucial role in ensuring optimal performance and longevity of machinery. Dealers maintain a robust network to provide site preparation services, monitoring systems, parts distribution, and project management solutions. Equipment financing options facilitate the acquisition of new machinery, while used equipment market participation offers cost-effective alternatives. Control valves, hydraulic pumps, and braking system components are essential components undergoing rigorous compliance testing to meet industry standards. Safety systems and operator interface design are increasingly prioritized for worksite logistics and demolition techniques.
Customer service, spare parts supply, and technical support are integral to maintaining a competitive edge. Certification bodies and training programs ensure adherence to safety and standards compliance, while field testing and compliance testing are critical aspects of the product development cycle. The integration of monitoring systems and technical support enhances overall equipment performance and reliability. Another key driver is the growing trend of construction equipment rentals, which offers flexibility and cost savings for businesses.

How is this Heavy Construction Equipment Industry segmented?

The heavy construction equipment 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.

Type

  Earthmoving equipment
  Material handling equipment
  Heavy construction vehicles
  Others


Application

  Excavation and demolition
  Heavy lifting
  Material handling
  Tunneling
  Others


Propulsion

  ICE
  Electric


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The earthmoving equipment segment is estimated to witness significant growth during the forecast period. The market encompasses machinery utilized for carrying, digging, spreading, or moving earth and materials. Key equipment in this sector includes excavators, loaders, dozers, and motor graders. Operating costs are a significant consideration for businesses in this industry, making aftermarket parts essential for maintaining equipment and maximizing return on investment. Software solutions and IoT sensors enhance machine performance and efficiency, while electric motors and remote control capabilities offer environmental benefits and increased safety. Infrastructure projects, driven by both public and private investment, provide opportunities for growth. Rapid urbanization, particularly in developing countries like China and India, is increasing the demand for heavy construction equipment due to the emergence of megacities.

Safety regulations and rental services ensure accessibility to various businesses. Transmission systems, lifting capacity, GPS guidance, and emission standards are crucial performance metrics. Specialized t

Updated quarterly, indexed sentiment data from 50+ leading construction equipment leaders in the US. Proactive indicator of construction market trends with a focused indicator on the construction equipment subsegment, including publicly traded equipment manufacturers, rental companies and construction companies.

This statistic shows the market size of the construction equipment and heavy equipment in North America between 2018 and 2026. In 2026, the North American construction equipment and heavy equipment market is expected to exceed ** billion U.S. dollars.

Graph and download economic data for Manufacturers' Value of Shipments: Construction Machinery Manufacturing (U33CVS) from Jan 1992 to May 2025 about shipments, machinery, durable goods, construction, goods, manufacturing, industry, and USA.

The U.S. construction equipment market was valued at 383,600 million units in 2023 and is expected to reach 486,888 million units by 2029, growing at a CAGR of 4.05%.