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 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 North America Construction Equipment Market was valued at USD 22.11 billion in 2024 and is expected to reach USD 26.92 billion by 2030 with a CAGR of 3.34% during the forecast period.

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.

The North America heavy construction equipment market offers a diverse range of products to cater to the specific needs of the construction industry.Earthmoving Equipment: This segment includes excavators, bulldozers, graders, and loaders, which are primarily used for excavation, earthmoving, and site preparation activities.Material Handling Equipment: This segment encompasses cranes, forklifts, and aerial work platforms, which are employed for lifting, transporting, and placing materials on construction sites.Heavy Construction Vehicles: This segment consists of dump trucks, concrete mixers, and paving equipment, which are essential for transporting materials, mixing concrete, and paving surfaces.Others (Cranes, Excavators, Dozer): This segment includes specialized equipment such as crawler cranes, mobile cranes, mini excavators, and dozers, which are used for various heavy lifting, handling, and grading tasks. Recent developments include: October 2019: Volvo introduced its first emission-free and simple to maintain wheel loaders for a variety of applications, including pallet handling and material loading, grading, and sweeping, for German tree farming.. Notable trends are: Infrastructure development is driving the market growth.

The North America Construction Equipment Rental Market Report is Segmented by Rental Channel (Offline and Online), Machinery Type (Cranes, Excavators, Loaders, Motor Graders, and More), Drive Type (Hydraulic / IC Engine, Hybrid, and More), Application (Building Construction and More), Service Type (Short-Term Rental and More), and Country. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

North America Construction Machinery Market size is USD 60103.32 Million in 2024 and will expand at a compound annual growth rate (CAGR) of 2.40% from 2024 to 2031.

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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

North America Heavy Construction Equipment Market is expected to grow during 2025-2031

The North America construction equipment rental market was estimated at USD 42.64 billion in 2022 and is expected to reach USD 58.49 billion by 2029, growing at a CAGR of 4.62%.

The North America compact construction equipment market was valued at 2,31.7 T thousand units in 2022 and is expected to reach 317.9 thousand units by 2029, growing at a CAGR of 4.62%.

This statistic illustrates the market share by revenue of construction equipment manufacturers in North America in 2011. Caterpillar, John Deere and Komatsu command approximately a combined 52 percent of the North American construction equipment market.

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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?

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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

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 North American heavy construction equipment market was valued at approximately USD 60.5 billion in 2024.It is projected to reach around USD 90 billion by 2034.

North American sales of construction equipment reached about ******* units in 2023. North America is one of the largest target markets for construction equipment worldwide. North America overtaking China The regional structure of the global construction equipment market experienced some major changes in the last years. Sluggish growth in the Chinese construction market coupled with continued idle production in the mining sector and the challenges posed by the COVID-19 pandemic put China’s industrial equipment sales growth to a halt. In 2022, China lost its leading position in the global construction equipment market and was overtaken by North America. It is expected that North America will remain the largest market at least until 2028. Caterpillar as the leading U.S. manufacturer The largest construction equipment manufacturer was Caterpillar of the United States. After a slump in sales in the aftermath of the global financial crisis in 2009, Caterpillar successfully fought its way back to the top of the construction equipment market. In 2023, Caterpillar was ranked first with construction equipment sales of some **** billion U.S. dollars. In the same fiscal year, Caterpillar reported a total global revenue of around **** billion U.S. dollars.

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.

The North America Heavy Construction Equipment market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

The North America Earth Moving market exceeded USD 17.2 Billion in 2023, driven by robust growth in construction and infrastructure projects as a key driver.

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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