U.S. Heavy Duty Construction Equipment Market is estimated at USD 82.9 Mn in 2025 and is expected to expand at CAGR of 5.8%, reaching USD 123.0 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.

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).

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

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.

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

China is expected to account for more than ** percent of the global construction equipment market in 2027. That year, about ******* units are expected to be sold in China. Globally, some *** million units of construction equipment are forecast to be sold in 2027. Global construction equipment market size forecast China, North America, and Europe were the largest markets for construction equipment in 2022. While these markets will likely have to face challenges, India is expected to emerge as a growth driver in the coming years. In emerging markets such as India, increasingly affluent consumers are predicted to drive demand for larger residential structures and developments in infrastructure, while some experts also see bullish trends in industrial countries, where construction activity is expected to increase to fix aging infrastructure. Construction equipment definition The term construction equipment refers to machinery designed for executing construction tasks. Crawler dozers, crawler excavators, aerial work platforms and wheel loaders rank among the most important product categories in this industry. The leading manufacturers of construction equipment include Caterpillar of the United States, Sweden’s Volvo, Komatsu and Hitachi of Japan, as well as Switzerland’s Liebherr. XCMG and SANY are among China’s leading manufacturers of heavy machinery.

The North American Construction Equipment Report is Segmented by Equipment Type (Earthmoving, and More), Propulsion Type (Internal Combustion, and More), Capacity (Heavy, and More), Power Output (Up To 250 HP, and More), Application (Infrastructure, and More), Sales Channel (New Equipment, and More), and by Country. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

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 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).

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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 steady growth can also be justified by exponentially increasing demand for flexible and fuel-efficient machines.This market will value USD 5.8 Billion by 2025 and USD 7 Billion by 2035, with a CAGR in the 2% range during the forecast duration. Dueto their agility, economic effectiveness, and the ability to work in small- or urbanised-building sites, compact equipment such as skid steer loaders, mini excavators and compact track loaders are an increasingly attractive alternative.

Metric	Value
Industry Size (2025E)	USD 5.8 Billion
Industry Value (2035F)	USD 7 Billion
CAGR (2025 to 2035)	2%

City Wise Analysis

City	CAGR (2025 to 2035)
West United States	2.5%

City	CAGR (2025 to 2035)
Midwest United States	1.8%

City	CAGR (2025 to 2035)
Northeast United States	1.9%

City	CAGR (2025 to 2035)
South United States	2.1%

Competitive Outlook

Company Name	Estimated Market Share (%)
Caterpillar Inc.	20-25%
Deere & Company	15-20%
Bobcat Company	10-15%
CNH Industrial (CASE)	5-10%
Other Companies	30-40%

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.

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. 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 size of the North America Heavy Construction Equipment Market was valued at USD 52.096 Million in 2023 and is projected to reach USD 70.42 Million by 2032, with an expected CAGR of 4.4% during the forecast period. 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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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 tools, such as

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

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 U.S. Heavy Duty Construction Equipment Market report features an extensive regional analysis, identifying market penetration levels across major geographic areas. It highlights regional growth trends and opportunities, allowing businesses to tailor their market entry strategies and maximize growth in specific regions.

The U.S. electric construction equipment market size was valued at 441 units in 2024 and is expected to reach 1.94 thousand units by 2029 at a CAGR of 28.06%.