Construction Equipment Market: By Concrete Equipment (Transit, Concrete Pumps Asphalt Pavers, Crushers, Mixers, Batching Plants,), by Product (Compaction Equipment, Excavators, Loaders, Earthmoving & Road Building Equipment Backhoes and Others), Material Handling & Cranes (Engineered Systems, Bulk Material Handling Equipment, Industrial Trucks, Storage & Handling Equipment),  Application Potential, Price Trends)and Geography  

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construction equipment market size was valued at USD 162 billion in 2020, and it is anticipated to reach USD 229 billion by 2028, registering a CAGR of over 6.1% during the forecast period 2022 -2028. Construction equipment is a type of machinery designed used for the purpose of performing construction operations. Such equipment is also used for various functions like grading, drilling, hauling, paving, and excavating. Different industries come under construction equipment markets like oil & gas, construction & infrastructure, and manufacturing. Even if, the construction sector is low presently and affecting the sales of construction equipment, the market is anticipated to recover during the estimated period soon. The construction industry is slowing, which is harming new construction equipment sales; nevertheless, the market is likely to improve throughout the forecast period. The rising emphasis on public-private partnerships is expected to be one of the causes driving the growth (PPP). These collaborations are defined as a joint venture between the government and the private sector for the construction of public infrastructure. There are several manufacturers entering into offering rental services to encourage the demand for construction equipment. Consequently, it will enable manufacturers to provide rental as well as leasing services. For example, Hyundai Construction Equipment firm provides such leasing and rental services to customers and this will drive the construction equipment market growth. In spite of the negative impact of COVID-19 on the construction industry, it stated setting to recover traction by 2021 because of the government initiatives for augmenting as well as stabilizing the financial circumstance caused by COVID-19. US Transportation Department made an announcement of doing investment through the infrastructure to rebuild America discretionary grant program. As a result, this investment is evaluated to increase the construction equipment use and drive their demand in the market.    

Construction Equipment Market Summary

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Largest Market


Fastest Growing Market


Construction equipment is machinery made specifically for the purpose of carrying out construction projects. Mechanically, construction equipment is strong and long-lasting. Construction equipment reduces the reliance on human labour and saves a significant amount of time and effort. The root cause of the construction equipment market's rapid expansion is the growing number of end-use applications for the equipment. Growing infrastructure development and building activity, particularly in developing nations, would provide lucrative growth possibilities for the construction equipment industry. Construction equipment demand would continue to rise as a result of rising industrialization and massive investments in the construction sector to meet industrial and residential infrastructure needs. The high expenses of investing in construction equipment, on the other hand, will represent a significant obstacle to the market's growth pace. The construction equipment market's development potential will be further limited as machine oil prices rise.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2017 to 2021), and forecast (2022 to 2028)
  • The report covers in-detail insights into the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Construction Equipment Market Segmentation

By Concrete Equipmen
  • Transit
  • Concrete Pumps Asphalt Pavers
  • Crushers
  • Mixers
  • Batching Plants
by Product
  • Compaction Equipment,
  • Excavators,
  • Loaders,
  • Earthmoving & Road Building Equipment Backhoes
  • Others
Material Handling &
  • Engineered Systems,
  • Bulk Material Handling Equipment,
  • Industrial Trucks,
  • Storage & Handling Equipment

Frequently Asked Questions

The construction equipment market is projected to expand at a CAGR of 6.1% during the forecast period  

Caterpillar, AB Volvo, Komatsu Ltd., CNH Industrial N.V., Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co., Ltd.

North America is the fastest-growing region for the construction equipment market

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  • Caterpillar
  • AB Volvo
  • Komatsu Ltd.
  • CNH Industrial N.V.
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co., Ltd.
  • Terex Corporation
  • Deere & Company
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Sandvik AB
  • Ammann Group
  • The Manitowoc Company, Inc.
  • Doosan Corporation
  • XCMG Group
  • Hyundai Heavy Industries Co., Ltd
  • SANY Group