Construction Equipment Market Size Worth USD 205.05 Billion By 2032 | CAGR: 3.1%

The global Construction Equipment market size is expected to reach USD 205.05 Billion by 2032, according to a new study by Polaris Market Research. The report “Construction Equipment Market Share, Size, Trends, Industry Analysis Report, By Equipment Type; By Equipment Category; By Power Output (<100HP, 101-200HP, 201-400HP, >400 HP); By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is expected to experience substantial growth during the forecast period. This growth is expected to be driven by various factors, such as the increasing number of infrastructure development projects and the increasing need for advanced machinery. Additionally, the market is expected to benefit from the increasing trends of automation and technological advancements in construction equipment, which ultimately lead to enhanced efficiency and productivity in construction activities.

The increase in government spending on infrastructure development has resulted in a substantial rise in construction activities across developing countries. India, for example, prioritizes enhancing its road infrastructure to facilitate the seamless transportation of resources. This increased road construction activity has resulted in a rise in demand for material handling and road construction equipment, such as pavers, forklifts, and dozers, among others. Moreover, the integration of technology with construction equipment is expected to boost market growth further. Original equipment manufacturers (OEMs) are capitalizing on this opportunity to introduce new products and expand their customer base in the construction equipment market.

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With the increasing investments in development projects such as transportation networks, infrastructure development, and real estate projects, there is a growing demand for heavy-duty construction equipment. This rising demand is driving the growth of the construction equipment market, which is highly competitive and dominated by several well-established players such as Caterpillar, Volvo CE, Komatsu, Hitachi Construction Machinery, and John Deere. These companies have a strong global presence and offer a wide range of products, including excavators, wheel loaders, bulldozers, cranes, and compactors, which are essential for the successful completion of such development projects.

Construction Equipment Market Report Highlights

• The material handling equipment segment has emerged as the frontrunner in the global construction equipment market. This is due to its exceptional versatility and wide range of applications that make it a popular choice for a variety of jobs on construction sites.
• In 2023, the market for small construction equipment with <100HP, including mini-excavators, compact wheel loaders, skid steer loaders, and compact track loaders, held the largest market share due to its high versatility and maneuverability on job sites.
• The infrastructure segment is anticipated to witness substantial growth over the forecast period. This can be attributed to the rising investments in infrastructural development projects like highways, roads, bridges, and buildings.
• In 2023, the Asia Pacific region dominated the global market, primarily due to the significant economic growth of countries like India, China, Japan, and Indonesia. This growth has resulted in a surge in demand for infrastructure and construction projects, leading to an increased need for construction equipment.
• The global key market players include AB Volvo, Caterpillar, Inc., CNH Industrial America LLC., Deere & Company, Doosan Corporation, Escorts Limited, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., KUBOTA Corporation, LIEBHERR, MANITOU Group, SANY Group, Terex Corporation, Wacker Neuson SE, XCMG Group, Zoomlion Heavy Industry Science&Technology Co., Ltd., and among others.

Polaris Market Research has segmented the Construction Equipment market report based on equipment type, equipment category, power output, application, and region:

Construction Equipment, Equipment Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Articulated Dump Trucks
• Asphalt Finishers
• Backhoe Loaders
• Compactors
• Crawler Dozers
• Crawler Excavators
• Crawler Loaders
• Mini Excavators
• Road Rollers
• Wheeled Excavators
• Others

Construction Equipment, Equipment Category Outlook (Revenue - USD Billion, 2019 - 2032)

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

Construction Equipment, Power Output Outlook (Revenue - USD Billion, 2019 - 2032)

• <100HP
• 101-200HP
• 201-400HP
• >400 HP

Construction Equipment, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial
• Infrastructure
• Residential

Construction Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of APAC

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Construction Equipment Market Report Scope