Global Construction Equipment Market Overview, 2024-29
The Global Construction Equipment Market reached approximately USD 165 Billion in 2023, driven by growing global demand for infrastructure construction.
The high capital-intensive investment requiring construction machineries has been a vital part of the economy globally. These equipments not only helps in decreasing the time involved in the process, but also increases the efficiency of the process with less human intervention. The work efficiency has increased quite well with the inclusion of the machineries which have made it possible for the construction contractors to complete multiple projects at a time. The need for abrupt and flawless constructions has propelled the demand in the construction equipment market across the world. The higher productivity with an optimum fuel usage is the prime factor that the customer looks for in such construction support equipments, as the investment made behind such purchase are high. As the global construction equipment market is growing, the market has shown a growth at the individual regional levels too. Regionally the major shareholder for construction equipment market is Asia Pacific. The region has shown an increasing trend over the years in this segment. This increasing demand in the construction equipment industry is due to the increasing investment in the infrastructural development in the developing countries of the region. The smaller regions of Latin America and Middle East & African countries are likely to show an increase in the market share. The US accounts to the highest market share in the global equipment market as an individual country.
According to the report, recently published by Bonafide Research, titled 'Global Construction Equipment Market Overview, 2024-2029’; the overall global construction market was recorded around USD 165 Billion in the year 2023, owing to the increasing demand for the infrastructural construction worldwide. The dominating earthmoving machinery sector is expected to show a decline in the market share by the forecasted period, while the road construction equipment is expected to witness prominent market growth. While the developed countries are expected to increase in demand for the material handling machineries, the economically backward governments are to shift their concentration towards road transportation development, which would be a great support the economic boost. The demand for these type of machinery have been in a growing pattern with the increasing need for better land connectivity among the cities and the nations which in turn is to offer a better support to economy. The increasing urban population would increase the demand of public transports and better road networks. With the help of advanced technologies, the road networks are expected to have smart concrete materials used in its constructions. This is expected to grow the demand for the more dynamic equipments that would fulfill the requirements of the contractors.
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The pandemic is likely to leave the economic shaken and resulting into a fall of construction and the real estate industry. Moreover, the industry has been facing a shortage of skilled labor over the past few years. As the existing labor force is retiring due to the age factor, the industry is in struggle to fill up the positions. Even though these machineries are designed to meet the labor shortage, the operators need to be technically skilled enough to handle them.
Considered In the Report
• Geography: Global
• Base year: 2023
• Historical year: 2018
• Estimated year: 2024
• Forecasted year: 2029
Regions covered:
• North America (USA, Canada, Mexico)
• Europe (UK, Germany, Russia, France, Spain, Italy)
• Asia Pacific (Japan, India, China, Australia)
• South America (Brazil, Argentina, Columbia)
• Middle East & Africa (Saudi Arabia, UAE, Qatar, South Africa)
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Manmayi Raval
Research Consultant
Aspects Covered In the Report
• Market Size by Value for the historic time period (2018-2023)
• Market Size by Value for the forecast time period (2023-2029)
• Market Share by Application (2018, 2023 & 2029F)
• Market Share by Equipments (2018, 2023 & 2029F)
• Market Share by Region (2018, 2023 & 2029F)
• Market Share by Country (2018, 2023 & 2029F)
• Market Share by Company (2023)
By Application
• Earth Moving Machinery
• Material Handling Machinery
• Concrete and road construction Machinery
• Other Machinery
By Earth Moving Machinery
• Excavators
• Loaders
• Dozers
• Motor Graders
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By Material Handling Machinery
• Dumper /Dump Truck/ Tippers
• Cranes (Tower Crane, Mobile Crane)
• Telescopic Handlers
• Forklift
By Concrete and Road Construction Machinery
• Cement/Transit mixers
• Compactors & Road Rollers
• Pavers/Asphalt Finishers
• Others
The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.
Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Companies Mentioned
Caterpillar Private Limited
CNH Industrial
Doosan Infracore
Epiroc
Hitachi Construction Machinery Co. Ltd
J C Bamford Excavators Ltd
John Deere Ltd
Kobe Steel Ltd
Komatsu
Kubota Corporation
Liebherr
Metso
Sandvik Mining And Rock Technology
Sany
Terex Corporation
Volvo Construction Equipments
Zoomlion
XCMG
Table of Contents
1. Executive Summary
2. Market Dynamics
2.1. Market Drivers & Opportunities
2.2. Market Restraints & Challenges
2.3. Market Trends
2.3.1. XXXX
2.3.2. XXXX
2.3.3. XXXX
2.3.4. XXXX
2.3.5. XXXX
2.4. Covid-19 Effect
2.5. Supply chain Analysis
2.6. Policy & Regulatory Framework
2.7. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Global Construction Equipment Market Outlook
6.1. Market Size By Value
6.2. Market Share By Region
6.3. Market Size and Forecast, By Geography
6.4. Market Size and Forecast, By Equiment
6.5. Market Size and Forecast, By Earth Moving
6.6. Market Size and Forecast, By Material Handling
6.7. Market Size and Forecast, By Concrete and road construction
7. North America Construction Equipment Market Outlook
7.1. Market Size By Value
7.2. Market Share By Country
7.3. Market Size and Forecast, By Equiment
7.4. Market Size and Forecast, By Earth Moving
7.5. Market Size and Forecast, By Material Handling
7.6. Market Size and Forecast, By Concrete and road construction
8. Europe Construction Equipment Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast, By Equiment
8.4. Market Size and Forecast, By Earth Moving
8.5. Market Size and Forecast, By Material Handling
8.6. Market Size and Forecast, By Concrete and road construction
9. Asia-Pacific Construction Equipment Market Outlook
9.1. Market Size By Value
9.2. Market Share By Country
9.3. Market Size and Forecast, By Equiment
9.4. Market Size and Forecast, By Earth Moving
9.5. Market Size and Forecast, By Material Handling
9.6. Market Size and Forecast, By Concrete and road construction
10. South America Construction Equipment Market Outlook
10.1. Market Size By Value
10.2. Market Share By Country
10.3. Market Size and Forecast, By Equiment
10.4. Market Size and Forecast, By Earth Moving
10.5. Market Size and Forecast, By Material Handling
10.6. Market Size and Forecast, By Concrete and road construction
11. Middle East & Africa Construction Equipment Market Outlook
11.1. Market Size By Value
11.2. Market Share By Country
11.3. Market Size and Forecast, By Equiment
11.4. Market Size and Forecast, By Earth Moving
11.5. Market Size and Forecast, By Material Handling
11.6. Market Size and Forecast, By Concrete and road construction
12. Competitive Landscape
12.1. Competitive Dashboard
12.2. Business Strategies Adopted by Key Players
12.3. Key Players Market Share Insights and Analysis, 2022
12.4. Key Players Market Positioning Matrix
12.5. Porter's Five Forces
12.6. Company Profile
12.6.1. Company 1
12.6.1.1. Company Snapshot
12.6.1.2. Company Overview
12.6.1.3. Financial Highlights
12.6.1.4. Geographic Insights
12.6.1.5. Business Segment & Performance
12.6.1.6. Product Portfolio
12.6.1.7. Key Executives
12.6.1.8. Strategic Moves & Developments
12.6.2. Company 2
12.6.3. Company 3
12.6.4. Company 4
12.6.5. Company 5
12.6.6. Company 6
12.6.7. Company 7
12.6.8. Company 8
12.6.9. Company 9
12.6.10. Company 10
13. Strategic Recommendations
14. Annexure
14.1. FAQ`s
14.2. Notes
14.3. Related Reports
15. Disclaimer
Table 1: Global Construction Equipment Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Construction Equipment Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Construction Equipment Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 8: Global Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 9: Global Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 10: Global Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 11: North America Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 12: North America Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 13: North America Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 14: North America Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 15: Europe Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 16: Europe Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 17: Europe Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 18: Europe Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 19: Asia-Pacific Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 20: Asia-Pacific Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 21: Asia-Pacific Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 22: Asia-Pacific Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 23: South America Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 24: South America Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 25: South America Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 26: South America Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Table 27: Middle East & Africa Construction Equipment Market Size and Forecast, By Equiment (2018 to 2029F) (In USD Billion)
Table 28: Middle East & Africa Construction Equipment Market Size and Forecast, By Earth Moving (2018 to 2029F) (In USD Billion)
Table 29: Middle East & Africa Construction Equipment Market Size and Forecast, By Material Handling (2018 to 2029F) (In USD Billion)
Table 30: Middle East & Africa Construction Equipment Market Size and Forecast, By Concrete and road construction (2018 to 2029F) (In USD Billion)
Figure 1: Global Construction Equipment Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Construction Equipment Market Share By Region (2023)
Figure 6: North America Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Construction Equipment Market Share By Country (2023)
Figure 8: Europe Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Europe Construction Equipment Market Share By Country (2023)
Figure 10: Asia-Pacific Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Construction Equipment Market Share By Country (2023)
Figure 12: South America Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: South America Construction Equipment Market Share By Country (2023)
Figure 14: Middle East & Africa Construction Equipment Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: Middle East & Africa Construction Equipment Market Share By Country (2023)
Figure 16: Competitive Dashboard of top 5 players, 2023
Figure 17: Market Share insights of key players, 2023
Figure 18: Porter's Five Forces of Global Construction Equipment Market
Construction Equipment Market Market Research FAQs
Global construction equipment market is anticipated to grow with more than 6% CAGR for 2022-2027.
Asia-Pacific region is projected to lead the global market by 2027.
Earth Moving Machinery, Material Handling Machinery and Concrete and road construction Machinery are some of the equipment types considered in the report.
Caterpillar Private Limited, CNH Industrial, Doosan Infracore, Epiroc Construction Machinery Co. Ltd, Hitachi Construction Machinery Co. Ltd, J C Bamford Excavators Ltd, John Deere Ltd, Kobe Steel Ltd, Komatsu Ltd and Kubota Corporation are some of the major market players of Global construction equipment market.
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