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 51 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 United States construction equipment market size reached US$ 43.53 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 68.11 Billion by 2032, exhibiting a growth rate (CAGR) of 4.60% during 2024-2032. The increasing infrastructure development, including roads, bridges, airports, and public transportation, the construction of residential and commercial properties, and the integration of advanced technology into construction equipment represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on solution type, equipment type, type, application, and industry.

The Report Covers Heavy Construction Equipment Market is Segmented by Equipment Type (Cranes, Telescopic Handler, Excavator, Loaders and Backhoe, Motor Grader, and Other Machinery Types), by Drive Type (Hydraulic and Electric and Hybrid), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecasts for Construction Equipment in Value (USD Billion) for all the Above Segments.

China is expected to account for more than 20 percent of the global construction equipment market in 2027. That year, about 270,000 units are expected to be sold in China. Globally, some 1.1 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 global heavy construction equipment market, valued at $187.31 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 4.49% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, substantial investments in infrastructure development globally, particularly in emerging economies like India and China within the APAC region, are creating significant demand for earthmoving equipment, heavy construction vehicles, and material handling equipment. Secondly, the ongoing urbanization trend and increasing construction of residential, commercial, and industrial buildings are further boosting market growth. Technological advancements, such as the incorporation of automation, telematics, and emission reduction technologies in heavy equipment, are also contributing to market expansion. Finally, government initiatives promoting sustainable construction practices and infrastructure modernization projects across North America and Europe are creating favorable market conditions. However, challenges such as fluctuating raw material prices, supply chain disruptions, and stringent emission regulations can pose restraints to growth. The market segmentation reveals a significant share held by earthmoving equipment, followed by material handling equipment and heavy construction vehicles. Leading companies such as Caterpillar, Komatsu, and Volvo are leveraging their strong brand recognition, technological expertise, and extensive distribution networks to maintain a competitive edge. Their strategies include strategic partnerships, mergers and acquisitions, and continuous product innovation to meet evolving market demands and cater to specific regional needs. The APAC region, particularly China and India, represents a significant market share due to rapid infrastructure development and industrialization, while North America and Europe maintain substantial contributions fueled by ongoing construction activities and infrastructure upgrades. The market's competitive landscape is intense, necessitating strategic investments in research and development and efficient supply chain management to ensure profitability and market share.

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 273 billion U.S. dollars.

As per Cognitive Market Research's latest published report, the Global Autonomous Construction Equipment market size will be $15,543.07 Million by 2028. Autonomous Construction Equipment Industry's Compound Annual Growth Rate will be 10.14% from 2023 to 2030.

The North America Autonomous Construction Equipment market size is expected market to reach USD 4,420.45 Million by 2028.

Factors Impacting on Autonomous Construction Equipment Market

Rising Building & Construction industry

Global Building & Construction industry is particularly creating a positive impact and this industry is expected to grow above global gross domestic product (GDP) growth over the next decade. The building and construction sectors are some of the largest sectors in the world economy.

Building & Construction industry spending worldwide amounted to 11.4 trillion U.S. dollars. Building & Construction expenditures are expected to reach 14 trillion U.S. dollars in 2025. This investment can increase the development activities of autonomous construction equipment.

Furthermore, the global building & construction industry gets opportunities in residential, non-residential, and infrastructure. The main reason behind this growth is increasing housing starts and rising infrastructure due to the increasing urbanization and the growing population.

Additionally, there are some factors that help to grow this industry such as population increase in emerging countries, necessary upgrades to infrastructure in developed countries, and the trend toward increased residential development.

The continuous economic growth in various emerging and developed countries is adding lucrative financing deals with low-interest rates, which is anticipated to boost the revenues of the residential building sector.

The rising demand from the road sector and commercial infrastructure also gradually enhances the demand for autonomous construction equipment. These are extremely useful on a construction site because of their versatile nature. They are adaptable which saves a lot of time and labor. Their versatileness comes from the attachments which need to be chosen correctly according to the job at hand.

Hence, the rising construction and building sector across the globe boosts the growth of the autonomous construction equipment market.

Restraints for Autonomous Construction Equipment Market

Cyber security issues (Access Detailed Analysis in the Full Report Version)

Opportunities for Autonomous Construction Equipment Market

Adoption of Technologies in Construction Industries (Access Detailed Analysis in the Full Report Version)

What is Autonomous Construction Equipment?

Automated construction equipment is equipment that requires minimum or no manpower for the operation of vehicles. Construction work is well-suited for autonomous machinery. Most tasks are repetitive, physical, precise, and time-sensitive, and they don't require any creative or out-of-the-box thinking. Hence, the manufacturers can automate these types of jobs first.

Autonomous construction equipment such as dozers, excavators, load carriers, and haul trucks can be employed on the construction site to excavate and grade dirt. The rovers are a smaller type of autonomous or semi-autonomous construction vehicle. They can follow workers carrying tools and materials around the construction site.

Small robots, such as drones, are perhaps the most popular kind of construction automation. Drones are used by many construction teams to survey job sites. In 20 minutes, these airborne robots can collect more data than a week of traditional measurement. This incredible speed cuts project completion time in half, and the data's richness can indicate possible risks, boosting safety.

The types of autonomous construction equipment include earthmoving equipment, material handling equipment, and concrete & road construction equipment. These autonomous construction types of equipment are either partial/semi-autonomous or fully autonomous that are widely used in road construction, building construction, and many other applications.

Large, autonomous haul trucks are currently used on mining sites in some countries. Other autonomous vehicles are currently being tested in construction, and will probably be available on the market within a few years.

Large, self-driving haul ...

The Europe Heavy Construction Equipment Market Report is Segmented by Machinery Type (Cranes, Telescopic Handling, Excavators, Loaders and Backhoes, Motor Graders, and Other Machinery Types), Drive Type (IC Engines and Electric and Hybrid), and Country (Germany, United Kingdom, France, Russia, Spain, and Rest of Europe). The Report Offers Market Size and Forecasts for European Construction Equipment in Value (USD) for all the Abovementioned Segments.

North America Heavy equipment auction market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

With a market share of 16.8 percent, Caterpillar was the leading construction manufacturer worldwide in 2023. Japan's Komatsu was ranked second that year with a market share of 10.4 percent. China's XCMG ranked third with a share of 5.3 percent.

The size and share of the market is categorized based on Type (Heavy Earthmoving, Lifting & Material Handling, Heavy Construction Vehicles, Others) and Application (Infrastructure, Construction, Mining, Manufacturing, Oil & Gas, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

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.

Market Overview:

GCC heavy construction equipment rental market size is projected to exhibit a growth rate (CAGR) of 5.50% during 2024-2032. The rising focus of key players on having financial flexibility, operational efficiency, and the ability to adapt to the evolving demands for cost-effective construction projects across the region is primarily driving the market growth.

Heavy construction equipment rental refers to the practice of leasing large-scale machinery for construction purposes rather than purchasing them outright. Contractors often opt for rental services to access specialized and high-cost equipment without the burden of ownership expenses. This arrangement provides flexibility, as projects may require different types of machinery at various stages, and renting allows for a tailored selection based on specific project needs. Heavy construction equipment that are commonly available for rent include excavators, loaders, bulldozers, cranes, and other specialized machinery. The primary advantage of heavy construction equipment rental lies in cost-effectiveness. Renting eliminates the substantial upfront investments associated with purchasing equipment, reducing the financial strain on construction businesses. Additionally, rental agreements often cover maintenance and repair costs, freeing companies from the responsibility of servicing the machinery. This not only saves money but also ensures that the equipment is always in optimal working condition. It also offers scalability, allowing companies to scale their machinery resources based on project size and duration.

GCC Heavy Construction Equipment Rental Market Trends:

The GCC heavy construction equipment rental market is experiencing dynamic shifts driven by several key factors and trends. One of the primary drivers is the region's extensive infrastructure development activities, with countries, including Saudi Arabia and the UAE, investing widely in these large-scale projects. This surge in construction activities fuels the demand for heavy equipment rental as contractors seek cost-effective and flexible solutions to meet project requirements. Moreover, technological advancements play a pivotal role in shaping trends within the regional market. Besides this, the rising integration of telematics and IoT in rental equipment allows for real-time monitoring, preventive maintenance, and increased operational efficiency, thereby acting as another significant growth-inducing factor. Furthermore, the elevating adoption of flexible rental models is gaining prominence. Apart from this, the shifting preferences among construction companies towards the convenience of short-term rentals that enable them to scale up or down based on project needs without committing to long-term ownership are anticipated to fuel the market growth across the GCC over the forecasted period.

GCC Heavy Construction Equipment Rental Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on equipment type and end user.

Equipment Type Insights:

• Earthmoving Equipment
• Material Handling Equipment
• Heavy Construction Vehicles
• Others
  

The report has provided a detailed breakup and analysis of the market based on the equipment type. This includes earthmoving equipment, material handling equipment, heavy construction vehicles, and others.

End User Insights:

• Infrastructure
• Construction
• Mining
• Oil and Gas
• Manufacturing
• Others
  

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes infrastructure, construction, mining, oil and gas, manufacturing, and others.

Country Insights:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

GCC Heavy Construction Equipment Rental Market Report Coverage:

Key Questions Answered in This Report:

• How has the GCC heavy construction equipment rental market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC heavy construction equipment rental market?
• What is the breakup of the GCC heavy construction equipment rental market on the basis of equipment type?
• What is the breakup of the GCC heavy construction equipment rental market on the basis of end user?
• What are the various stages in the value chain of the GCC heavy construction equipment rental market?

The Compact Construction Equipment Market is projected to grow from USD 35.6 billion in 2025 to USD 48.2 billion by 2035, registering a CAGR of 3.1% during the forecast period.

Semi-Annual Market Update for the Compact Construction Equipment Market

Country-wise Analysis

Category-Wise Insights

Global sales of construction equipment reached approximately 1.2 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 1.1 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 320,000 unit sales compared to 235,000 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 285,000 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 270,000 in 2027.

Largest construction equipment manufacturer Caterpillar is the largest construction machinery manufacturer globally. In 2022, the company generated over 37 billion U.S. dollars in revenue from construction equipment sales, followed by Japan’s Komatsu at about 22 billion U.S. dollars.

The used construction machinery market, valued at $92.76 billion in 2025, is projected to experience robust growth, driven by several key factors. Increasing infrastructure development globally, particularly in rapidly developing economies like India and China, fuels significant demand for cost-effective equipment. The rising adoption of sustainable construction practices also contributes to market expansion, as businesses seek to reduce their environmental footprint and operational costs by utilizing pre-owned machinery. Furthermore, fluctuations in new equipment prices and the need for quick project turnaround times are pushing businesses to explore the used machinery market as a viable alternative. This segment provides a balanced blend of affordability and functionality, making it attractive to contractors of all sizes. The market is segmented by product type (cranes, excavators, material handling equipment, and others), application (commercial, residential, infrastructure), and region, with APAC, North America, and Europe being dominant regions. Competition is intense, with both large multinational corporations and regional players vying for market share through competitive pricing, enhanced services, and strategic partnerships. However, challenges remain, including the inconsistent quality of used machinery, the need for reliable maintenance and repair services, and the potential environmental concerns associated with disposing of end-of-life equipment. The market's Compound Annual Growth Rate (CAGR) of 5.3% from 2025 to 2033 indicates a steady expansion. While the APAC region, particularly China and India, currently holds the largest market share due to massive infrastructure projects, North America and Europe are also significant contributors. The market's growth trajectory is expected to be influenced by government policies promoting infrastructure development, technological advancements in used equipment refurbishment and maintenance, and the increasing adoption of digital platforms facilitating equipment trading and rental. Companies are adopting diverse strategies to enhance their competitive edge, including expanding their service networks, investing in technology to improve equipment quality assurance, and focusing on sustainable practices. Successful players will need to navigate the challenges of maintaining consistent equipment quality and addressing environmental sustainability concerns to capitalize on this growing market opportunity.

The North American construction equipment market was estimated at almost 30.8 billion U.S. dollars in 2021. The market is expected to grow by a compound annual growth rate of about 2.7 percent between 2022 and 2027, reaching the size of some 36.3 billion U.S. dollars in 2027.

The construction equipment maintenance and repair market is projected to experience steady growth from 2025 to 2035, driven by the expansion of infrastructure projects, advancements in predictive maintenance technologies, and the growing emphasis on equipment longevity. The market was valued at USD 24,192.2 million in 2025 and is expected to reach USD 35,929.4 million by 2035, reflecting a compound annual growth rate (CAGR) of 4.1% over the forecast period.

Country-wise Outlook - Construction Equipment Maintenance and Repair Market

Competitive Outlook