Heavy Construction Equipment Market, Size, Segment and Growth by Forecast Period: (2021-2031)
The Heavy Construction Equipment Market size is expected to reach US$ 338.06 billion by 2031 from US$ 224.15 billion in 2024. The market is estimated to record a CAGR of 6.16% from 2025 to 2031.
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Executive Summary and Global Market Analysis:
Heavy construction equipment refers to large machinery and
vehicles used in construction projects to carry out tasks such as excavation,
lifting, material handling, and demolition. These machines are essential for
large-scale construction and civil engineering projects, providing efficiency
and productivity on job sites. The increasing government funding projects in
transportation, renewable energy, and public infrastructure sectors across
developing countries such as India, Mexico, and Brazil drive the demand for
heavy construction equipment. According to the World Bank, per year, more than
US$ 3.7 trillion is invested in infrastructure development to meet the growing
demand of growing global populations. The rise in global investments in the
clean energy sector is also a major driving factor for the heavy construction
equipment market. According to the International Energy Agency, more than US$ 3
trillion invested in 2024 for clean energy related infrastructure developments
across the globe.
Heavy Construction Equipment Market Segmentation Analysis
Key segments that contributed to the derivation of the Heavy
Construction Equipment market analysis are type and application.
- By
machinery type, the heavy construction equipment market is segmented
into earthmoving equipment, material handling equipment, heavy
construction vehicles, others. The earthmoving equipment segment held a
larger share of the market in 2024.
- In
terms of propulsion type, the market is segmented into ICE, electric. The
ICE segment held the largest share of the market in 2024.
- In
terms of power output, the market is segmented into less than 100 HP,
101-200 HP, 201-400, 401 HP. The 201-400 HP segment held the largest share
of the market in 2024
- By
End Use Industry, the market is segmented into building and construction,
forestry and agriculture, energy and power, mining, others. building and
construction segment held the largest share of the market in 2024.
Rise in Investment in Construction Industry Worldwide
The construction industry is growing rapidly in various
countries across the globe, with a rise in government investments and an
increase in demand for various construction projects. Countries such as the US,
China, Mexico, Brazil, and India have the most significant construction
businesses in the world. According to the Associated General Contractors of
America (AGC), the US construction industry is growing with an investment of
~US$ 1.4 trillion per year. A surge in construction activities in the country,
along with the increasing population and the proliferating commercial sector,
drives the heavy construction equipment market growth. The global demand for
the long-term construction sector is growing rapidly owing to the increasing
government investment in infrastructure development. For instance, ~US$ 1.2
trillion in funding was passed by the Bipartisan Infrastructure Law in the US,
and US$ 828.8 billion was passed by the EU infrastructure development fund in
Europe.
In Asia Pacific, the rising population is putting a strain
on current infrastructure, highlighting the need for the development of new
rail networks, residential structures, and roadways. The construction industry
in Asia Pacific was valued at US$ 4.36 trillion in 2022, which represents 45%
of the overall global construction industry. The investment is mostly in
countries such as India, Japan, Australia, Singapore, Malaysia, and China. The
governments and regulatory bodies in countries in this region are focusing on
additional infrastructure investments which is proliferating the demand for
heavy construction equipment.
Growing Infrastructure Advancement Activities in Emerging
Economies
Argentina, Brazil, China, India, Indonesia, Mexico, Poland,
South Africa, South Korea, Turkey, Egypt, Iran, Nigeria, Pakistan, Russia,
Saudi Arabia, Taiwan, and Thailand are the notable emerging economies
implementing major construction and infrastructure activities. In Argentina,
the Riachuelo water system, Salado River waterworks, stage IV, National Route 7
Lujan-Junรญn stretch, National Route 9, and San Miguel de Tucumรกn-Santiago del
Estero stretch are a few of the major infrastructure projects. The governments
of China and India are also taking various initiatives to strengthen their
construction and infrastructure industries. Various active projects in China
include the Hong Kong-Zhuhai-Macau Bridge, Shanghai Tower, Beijing Subway Metro
Network, the Giant Wind Turbines, and the Super LNG Tanker. In Europe, Evora
Public Central Hospital, Edge East Side Tower, Baltic Offshore Pipeline,
Flamanville 3, and Crossrail are among the ongoing construction projects
contributing to the demand for heavy construction equipment. Such
infrastructure and construction initiatives taken by the governments of various
emerging economies worldwide are likely to provide lucrative growth
opportunities to the heavy construction equipment market.
Heavy Construction Equipment Market Size and Share
Analysis
Based on type, the global heavy construction equipment
market is bifurcated into earthmoving equipment, material handling equipment,
heavy construction vehicles, others. The earthmoving equipment segment
registered a larger market share in 2024 and is expected to dominate during the
forecast period. Earthmoving equipment include excavators, bulldozers, backhoe
loaders, and wheel loaders. The increasing investment in infrastructure
development projects worldwide is a major driving factor for this segmental growth.
Germany's Federal Transport Infrastructure Plan 2030 includes an investment of
US$ 280.68 billion between 2016 and 2030 on transportation-related
infrastructure. Also, the German government committed US$ 59.34 billion for the
green infrastructure projects in 2024. Such an increase in the investment for
infrastructure development is a major driving factor for the earth moving
equipment market. Several major players in the market are launching advanced
electric earthmoving equipment. For instance, in September 2024, Volvo
Construction Equipment launched the next electric L120 Electric wheel loader
machine in Indonesia. The new electric wheel loader machine was launched at the
Mining Indonesia event and will be made available for purchase in 2025.
Based on propulsion type, the global heavy construction
equipment market is segmented into ICE and electric. The ICE segment dominated
the market for vehicle type in 2024. ICE includes vehicle powered by diesel and
gasoline. Diesel heavy construction equipment are a category of machines
powered by diesel engines, used extensively in the construction industry for
tasks that require significant power and heavy lifting. These vehicles play a
crucial role in building infrastructure, from roads and bridges to buildings
and industrial facilities. Diesel-powered heavy construction equipment include
excavators, backhoe loaders, dump trucks, wheel loaders, cranes, and others.
Diesel engines are generally more fuel-efficient than gasoline engines,
especially in heavy-duty applications, reducing operational costs.
Diesel-powered equipment are widely available, and they have a proven
infrastructure, making it easier for construction projects to maintain their
fleets.
Market leaders and key company profiles
JC BAMFORD EXCAVATORS LTD
AB VOLVO
CATERPILLAR INC
HITACHI LTD
HYUNDAI
CONSTRUCTION EQUIPMENT CO LTD
DOOSAN CORP
CNH INDUSTRIAL NV
DEERE & CO
KOMATSU LTD
LIEBHERR
Heavy Construction Equipment Market Report Coverage and Deliverables
The "Heavy Construction Equipment Market Size and
Forecast (2021–2031)" report provides a detailed analysis of the market
covering below areas:
- Heavy
Construction Equipment market size and forecast at global, regional, and
country levels for all the key market segments covered under the scope
- Heavy
Construction Equipment market trends, as well as market dynamics such as
drivers, restraints, and key opportunities
- Detailed
Porter's Five Forces and SWOT analysis
- Heavy
Construction Equipment market analysis covering key market trends, global
and regional framework, major players, regulations, and recent market
developments
- Industry
landscape and competition analysis covering market concentration, heat map
analysis, prominent players, and recent developments for the Heavy
Construction Equipment market
- Detailed
company profiles
The geographic scope of the Heavy Construction Equipment market report is
divided into five regions: North America, Asia Pacific, Europe, Middle East
& Africa, and South & Central America. The Heavy Construction Equipment
market in Asia Pacific is expected to grow significantly during the forecast
period.
The heavy construction equipment market in Asia Pacific is
segmented into Australia, China, India, Japan, South Korea, Indonesia,
Singapore, Malaysia, the Philippines, Vietnam, and the Rest of Asia Pacific.
The construction sector in Asia Pacific recorded ~US$ 4.36 trillion of output
in 2022, representing approximately 45% of the global construction sector.
However, in January 2025, infrastructure investments related to transportation,
renewable energy, and manufacturing reached US$ 21.9 billion in Singapore and
Malaysia. Further, the government of New Zealand is emphasizing the development
of infrastructure networks such as water and wastewater systems, road and rail
networks, electricity transmission, and telecommunication infrastructure.
Growing population and increasing urbanization are a few factors boosting the
need to expand and upgrade important infrastructure facilities in the country.
The government of New Zealand plans to offer ~US$ 47 billion for infrastructure
development over the coming five years 2023-2027. The growing focus on
infrastructure development is anticipated to propel the growth of construction
activities, along with the application of heavy construction equipment, across
the country in the coming years.
Heavy Construction Equipment Market Research Report
Guidance
- The
report includes qualitative and quantitative data in the Heavy
Construction Equipment market across type, vehicle type, end user and
geography.
- The
report starts with the key takeaways (chapter 2), highlighting the key
trends and outlook of the Heavy Construction Equipment market.
- Chapter
3 includes the research methodology of the study.
- Chapter
4 further includes ecosystem analysis along with Porter’s analysis.
- Chapter
5 highlights the major industry dynamics in the Heavy Construction
Equipment market, including factors that are driving the market,
prevailing deterrents, potential opportunities as well as future trends.
Impact analysis of these drivers and restraints is also covered in this
section.
- Chapter
6 discusses the Heavy Construction Equipment market scenario, in terms of
historical market revenues, and forecast till the year 2031.
- Chapters
7 to 9 covers Heavy Construction Equipment market segments by type,
application and geography across North America, Europe, Asia Pacific,
Middle East and Africa, South and Central America. They cover market
volume revenue forecast, and factors driving the market.
- Chapter
10 describes the competitive analysis along with the heat map analysis for
the key players operating in the market.
- Chapter
11 describes the industry landscape analysis. It provides detailed
description of various business activities such as market initiatives, new
developments, mergers, and joint ventures globally, along with a
competitive landscape.
- Chapter
12 provides detailed profiles of the major companies operating in the
Heavy Construction Equipment market. The companies have been profiled on
the basis of their key facts, business description, products and services,
financial overview, SWOT analysis, and key developments.
- Chapter
13, i.e., the appendix is inclusive of a brief overview of the company,
list of abbreviations, and disclaimer.
Heavy Construction Equipment Market News and Key
Development:
The Heavy Construction Equipment market is evaluated by
gathering qualitative and quantitative data post primary and secondary
research, which includes important corporate publications, association data,
and databases. A few of the key developments in the Heavy Construction
Equipment market are:
- Hitachi
Construction Machinery Co., Ltd. (TSE: 6305; “Hitachi Construction
Machinery”) announced the establishment of Hitachi Construction Machinery
Development Center India Private Limited (“Hitachi Construction Machinery
Development Center India”), a consolidated subsidiary that will develop
and design construction machinery in India, in late December to strengthen
the product development capabilities of the Hitachi Construction Machinery
Group. The company will target and hire exceptional talent within India in
the fields of IT and mechanical engineering and expand to a scale of 200
engineers and designers by FY2027. (Source: Hitachi Construction
Machinery Co., Ltd, Press release, December 2024)
- HD
Hyundai Construction Equipment North America has continued expansion of
its HX crawler excavator product line with the availability of two new
large frame mass excavators. The 82-ton HX800A L, and the 100-ton HX1000A
L are designed to meet the needs of high-volume earthmoving, mining and
quarrying applications. The HX800A L is powered by a 528 net hp (389 kW)
engine, while the HX1000A L is equipped with a 620 net hp (420 kW) engine.
(Source: HD Hyundai Construction Equipment, Press Release, August 2024)
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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
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