Construction Equipment Market Size is estimated to grow at a CAGR of 4.5% during the forecast period

 

The global construction equipment market is anticipated to expand at a compounded annual growth rate (CAGR) of 4.5% during the forecast period of 2022-2030.

Construction equipment, usually referred to as heavy equipment, is a kind of particularly constructed machinery used in construction activities for a variety of purposes, including the movement of heavy loads and the grading, dozing, drilling, hauling, excavating, paving, compacting, and leveling of surfaces. These tools help to decrease the need for human labor and to save a significant amount of time and effort because they have good mechanical strength and durability.

 

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Growth Drivers:

Additionally, the need for building new infrastructure, such as residential and commercial buildings, is rising as a result of the world's population growth and the urbanization that is occurring at an exponential rate. As a result, public-private partnerships (PPP), or joint ventures between the public and private sectors to build public infrastructure systems, are given more attention. The expansion of the worldwide construction equipment market is anticipated to be fueled by the rising number of public-private partnerships in nations like China, Africa, and India.

Additionally, other factors like the expanding trend of construction equipment rental services, the introduction of new technologies for construction machinery, the rising concerns over worker safety on construction sites, the rise in mining projects and the development of smart cities across regions, and the growing attention of players on improving the fuel consumption of construction equipment are expected to create ample growth opportunities for the growth of the industry.

But during the forecast period, factors like the high cost of construction equipment, rising machine oil prices, the growing environmental imbalance brought on by the increased use of construction equipment, and the scarcity of qualified & skilled operators are anticipated to restrain the market's growth to some extent.

Construction Equipment Market Segmentation:

By Type:

·         Dump Truck

·         Loader

·         Dozer

·         Excavator

·         Motor Grader

 

By Equipment Category:

·         Earthmoving Equipment

·         Material Handling Equipment

·         Heavy Construction Vehicle

·         Other Equipment

 

By Equipment:

·         Articulated Dump Truck

·         Asphalt Finisher

·         Backhoe Loader

·         Crawler Dozer

·         Crawler Excavator

·         Crawler Loader

·         Mini Excavator

·         Motor Grader

·         Motor Scraper

·         Rigid Dump Truck

·         Road Roller

·         Rough Terrain Lift Truck (RTLT) Masted

·         Rough Terrain Lift Truck (RTLT) Telescopic

·         Skid-Steer Loader

·         Wheeled Excavator

·         Wheeled Loader <80 HP

·         Wheeled Loader >80 HP

·         Compactor

·         Pick and Carry Crane

 

By Application:

·         Commercial

·         Residential

·         Infrastructure

 

By Power Output:

·         <100 HP

·         101–200 HP

·         201–400 HP

·         >400 HP

 

By Engine Capacity:

·         <5L

·         5L-10L

·         >10L

 

By Emission Regulation:

·         Stage II

·         Stage III

·         Stage IIIA

·         Stage IV

·         Stage V

·         Stage VI

·         Tier 4

·         Tier 5

 

By Aftertreatment Device:

·         Diesel Oxidation Catalyst (DOC)

·         Diesel Particulate Filter (DPF)

·         Exhaust Gas Recirculation (EGR)

·         Selective Catalytic Reduction (SCR)

 

By Propulsion Type:

·         Diesel

·         CNG/LNG/RNG

 

By End-User:

·         Oil & Gas

·         Construction & Infrastructure

·         Manufacturing

·         Mining

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Key Companies in Construction Equipment Market:

·         Caterpillar Inc.

·         Komatsu Ltd.

·         Xuzhou Construction Machinery Group (XCMG)

·         Zoomlion

·         Terex Corporation

·         Sumitomo Heavy Industries Ltd.

·         Sany Heavy Industry Co. Ltd.

·         Mitsubishi Corporation

·         Manitou Group

·         Volvo Construction Equipment

·         Hitachi Construction Machinery Co. Ltd.

·         Deere & Company, Komatsu Ltd.,

·         Sandvik

·         CNH Industrial

·         Volvo Construction Equipment

·         XCMG Group

·         Kobelco Construction Machinery Ltd.

·         Other Players

 

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