Construction Equipment Market Business Drivers, Top Companies and Competitive Analysis By 2030

Construction Equipment Industry Overview

The global construction equipment market size is projected to reach USD 161.99 billion by 2030, registering a 3.9% CAGR from 2022 to 2030, according to a new study by Grand View Research Inc. Increasing investments by governments worldwide for developing public infrastructure is one of the prime factors that is expected to drive the market growth over the forecast period. Furthermore, the growing population in emerging economies such as India has resulted in increased residential and commercial construction activities, a trend that is expected to continue to increase the demand for construction equipment. Thus, the market is anticipated to grow steadily over the forecast period.

Construction Equipment Market Segmentation

Grand View Research has segmented the global construction equipment market based on product and region:

Based on the Product Insights, the market is segmented into Earth Moving Machinery, Material Handling Machinery, Concrete and Road Construction Machinery.

• The earthmoving machinery segment dominated the market with a revenue share of over 60% in 2021. The excavators sub-segment is projected to expand at a moderate CAGR during the forecast period on account of the booming infrastructure projects worldwide and the adoption of conventional heavy-duty excavators by builders and contractors for building dams and highways.
• The material handling equipment segment is expected to register a 4% CAGR over the forecast period. It is ascribed to an increase in demand for crawler cranes to construct non-residential sectors, notably in industrial, manufacturing, and commercial building sectors.
• The crawler cranes segment is expected to register a 5.8% CAGR over the forecast period owing to its compactness and ease of accessibility in small construction sites, especially in urban areas.
• The concrete and road construction machinery is expected to reach USD 39.10 billion by 2030.

Construction Equipment Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly competitive. The focus for almost all key vendors in the market going forward will be to seek ways to provide cost-effective and eco-friendly equipment as an integral part of their product offerings.

Some prominent players in the Global Construction Equipment market include:

• Caterpillar
• CNH Industrial N.V.
• Doosan Corporation
• Escorts Limited
• Hitachi Construction Machinery Co., Ltd.
• Hyundai Construction Equipment Co., Ltd.
• J C Bamford Excavators Ltd.
• Deere & Company.
• Kobelco Construction Machinery Co., Ltd.
• Komatsu Ltd.
• Liebherr-International AG
• Manitou BF
• HÄ°DROMEK
• Sany Heavy Industry Co., Ltd.
• Sumitomo Heavy Industries, Ltd.
• Terex Corporation
• Volvo AB
• Zoomlion Heavy Industry Science and Technology Co., Ltd

Order a free sample PDF of the Construction Equipment Market Intelligence Study, published by Grand View Research.