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%.

The average salary of people employed in the manufacturing of construction machinery in the United States increased in 2024 after a period of stagnation. That year, the average employee in that segment of the manufacturing industry earned around 89,180 U.S. dollars. Wages experienced a period of strong growth between 2005 and 2011.

U.S. Heavy Duty Construction Equipment Market is estimated at US$ 85.7 Mn in 2025 and is expected to expand at CAGR of 5.0%, reaching US$ 120.7 Mn by 2032.

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.

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

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.

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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 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.

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.

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.

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.

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.

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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

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.

In 2023, the construction machinery and equipment industry in the United States spent roughly 161 million U.S. dollars on advertising, slightly down from 161.1 million dollars a year earlier.

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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

United States (US) Construction Equipment Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition & Opportunities.

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%

In US Construction Equipment Market, Recently the U.S government approved an infrastructure deal worth $947 Billion over the next five years.

With a market share of **** percent, Caterpillar was the leading construction manufacturer worldwide in 2024. Japan's Komatsu was ranked second that year with a market share of **** percent. China's XCMG ranked third with a share of *** percent.