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%.

Between 2012 and 2024, the United States has had a significant surplus in its international trade of scrapers. The exports of that type of construction equipment were valued at approximately 46.44 million U.S. dollars in 2024, while the imports amounted to 1.89 million U.S. dollars that same year. Scrapers are used to move earth on construction sites.

The imports of tamping machines and road rollers to the United States fell significantly in 2024. The exports of these products from the United States to the rest of the world have remained relatively stable. Tamping machines are mostly used for railway construction, while road rollers are used to make earth, asphalt, and other materials compact and to build roads.

The imports of bulldozers and angledozers to the United States were slightly higher than the exports of those products in 2024. Nevertheless, U.S. exports of bulldozers and angledozers had been higher than their imports until 2021, with 2012 showing the highest trade surplus during the period considered here.

US Construction Machinery Market is expected to grow due to the rapid urbanization and population growth, favorable government initiatives and infrastructural development across USA.

Both the exports from and imports to the United States of tower cranes decreased in 2024. Tower crane imports to the United States have been higher than its exports of that same product since 2013. Those imports peaked in 2015 at 152.52 million U.S. dollars. Construction sites usually employ tower cranes to lift and move material and equipment.

U.S. Used Construction Equipment Market market value is projected to cross USD 1.98 Billion by 2028, and market shipments will cross 54307 Units by 2028.

Market Size statistics on the Construction Machinery Manufacturing industry in the US

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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 tools, such as

The weekly rental rate of crawler-mounted hydraulic excavators in the United States and Canada increased significantly in 2025. The rate amounted to 3,190 U.S. dollars a week in the second quarter of 2025, while the weekly rental rate of crawler mounted compact excavators were on average 1,230 U.S. dollars.

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%.

Pages	130
Market Size	2024: USD 22.11 billion
Forecast Market Size	2030: USD 26.92 billion
CAGR	2025-2030: 3.34%
Fastest Growing Segment	Forklift
Largest Market	United States
Key Players	1. Caterpillar Inc. 2. CNH Industrial N.V. (Case Construction, New Holland) 3. Deere & Company (John Deere) 4. Doosan Infracore North America 5. Hitachi Construction Machinery Co., Ltd. 6. JCB North America 7. Komatsu Ltd. 8. Liebherr Group 9. Terex Corporation 10. Volvo Construction Equipment

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Construction Equipment Market Size 2025-2029

The construction equipment market size is valued to increase USD 34 billion, at a CAGR of 4.3% from 2024 to 2029. Rising number of new construction equipment launches will drive the construction equipment market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 47% growth during the forecast period.
By Product - Owned equipment segment was valued at USD 81.60 billion in 2023
By Application - Residential segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 43.03 billion
Market Future Opportunities: USD 34.00 billion
CAGR from 2024 to 2029 : 4.3%

Market Summary

The market encompasses a dynamic and ever-evolving landscape of core technologies and applications, service types, and product categories. With the rise of advanced technologies such as automation, IoT, and AI, construction equipment is becoming increasingly sophisticated, enhancing productivity and efficiency. The adoption of electric construction equipment is on the rise, driven by growing environmental concerns and the need for sustainable solutions. However, high initial costs and maintenance expenses remain significant challenges. According to recent reports, electric construction equipment is expected to account for over 15% of the market share by 2027.
Despite these challenges, the market continues to unfold with new opportunities, including the increasing demand for rental services and the growing popularity of modular construction. Regions such as Asia Pacific and Europe are witnessing significant growth, driven by increasing infrastructure development and urbanization.

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

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How is the Construction Equipment Market Segmented?

The 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.

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 being a significant contributor. This segment includes excavators, loaders, skid steers, and other small machinery, as well as trucks, trailers, and specialized construction vehicles. Owned equipment is typically purchased outright by construction companies, contractors, or end-users, leading to extensive usage and maintenance. Key components of owned construction equipment include material handling systems, heavy-duty engines, power transmission, construction software, hydraulic systems, telematics integration, digital dashboards, ground pressure control, and off-road mobility.

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The Owned equipment segment was valued at USD 81.60 billion in 2019 and showed a gradual increase during the forecast period.

Emphasis on operator safety, noise reduction, remote diagnostics, and load capacity is increasing, with advancements in engine performance, machine durability, GPS integration, automation features, structural integrity, data acquisition, vibration dampening, component lifespan, precision control, wear resistance, thermal management, maintenance scheduling, electrification systems, and excavator technology.

Crane mechanisms and safety protocols are also essential, with control algorithms optimizing lifting capacity and fuel efficiency while sensor networks ensure continuous performance monitoring.

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Regional Analysis

APAC is estimated to contribute 47% 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 Asia-Pacific (APAC) is experiencing significant growth, driven by expanding construction activities in emerging countries like India, Afghanistan, and Bangladesh. This region is expected to maintain a steady growth trajectory during the forecast period, fueling the demand for new infrastructure projects to accommodate the incre

The Used Construction Equipment Market Report is Segmented by Product Type (Crane, Telescopic Handler, and More), Drive Type (Internal Combustion Engine, and More), End-Use Industry (Construction and Infrastructure, Mining and Quarrying, and More), Sales Channel (Dealer/Broker, Auction, and More), and Geography (North America, South America, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

Construction equipment producers have faced significant volatility in recent years, largely driven by the performance of various branches of the construction space, including residential, industrial and infrastructure. Unfavorable macroeconomic conditions in 2020 led to a slowdown in nonresidential construction activity, as remote working practices became the norm, foot traffic at brick-and-mortar stores weakened and demand for manufactured goods weakened. However, during this time, the residential sector boomed as near-zero interest rates and the flexibility offered by remote working encouraged consumers to purchase or build homes, boosting demand for construction equipment. As the economy began to recover, the nonresidential sector slowly followed. However, elevated inflationary pressures and heightened consumer uncertainty placed downward pressure on demand from the residential sector, contributing to revenue losses in 2023. During this time, steel prices directly impacted revenue, a highly volatile commodity that squeezed producers' profit. These trends have contributed to revenue growing at an estimated CAGR of 3.1% to $43.5 billion through 2025, including a 0.9% gain that year alone. Domestic producers face significant competition from foreign manufacturers, which is largely driven by consumer preferences favoring foreign producers and other cost-advantage measures. Imports have been satisfying a growing share of domestic demand as elevated inflation makes consumers more price-sensitive. Similarly, the recent appreciation of the US dollar has made imported machinery comparatively more affordable, further boosting demand for imports. On the other hand, exports have been accounting for a smaller share of revenue, with a strong dollar making them less competitive overseas, pushing domestic producers to focus on serving their domestic markets. Looking ahead, construction machinery manufacturers will continue to enjoy solid growth. Expected interest rate cuts will boost residential and commercial construction as developers capitalize on favorable borrowing conditions. The market for multifamily housing remains robust, driven by younger demographics' demands, while government initiatives push for greener construction practices. The depreciation of the dollar will make US machinery more competitive abroad, fostering export growth. Similarly, domestic construction companies will seek domestic construction machinery manufacturers’ products as foreign products become more expensive. Industry revenue is forecast to climb at a CAGR of 1.6% to $48.2 billion through the end of 2030.

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

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%

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 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.

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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?

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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 contribu

The revenue of Oshkosh Corp with headquarters in the United States amounted to 10.73 billion U.S. dollars in 2024. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2020 this is a total increase by approximately 3.87 billion U.S. dollars. The trend from 2020 to 2024 shows, furthermore, that this increase happened continuously.