Construction Equipment Market Size to Reach USD 156 billion in 2023

Market Insights

As per recent research by MarkNtel Advisors, The Global Construction Equipment Market size is valued at around USD 156 billion in 2023 and is projected to grow at a CAGR of around 3.01% during the forecast period, i.e., 2024-30.

Global Construction Equipment Market Driver

Growing Infrastructural Development Projects Worldwide – With the rapid upgrade in the number of developmental projects across different countries across the world, various private companies & governments are augmenting the demand for construction equipment for the development & construction of commercial & residential buildings. Moreover, countries like the US, China, and India, among others, are investing substantially in public infrastructure developments & exemplifying an accelerating demand for this equipment to facilitate tasks efficiently. In addition, snowballing the number of smart city projects is another crucial aspect contributing to the growing demand for construction equipment & stimulating the overall Construction Equipment Market expansion through 2030.

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Market Segmentation and Consumer Behavior:

By Type of Equipment

Earthmoving Equipment - Market Size & Forecast 2019-2030, (Thousand Units)
- Excavator- Market Size & Forecast 2019-2030, (Thousand Units)
- Loaders - Market Size & Forecast 2019-2030, (Thousand Units)
- Bulldozers - Market Size & Forecast 2019-2030, (Thousand Units)
- Skid Steer Loaders- Market Size & Forecast 2019-2030, (Thousand Units)
- Motor Graders- Market Size & Forecast 2019-2030, (Thousand Units)
- Crawler Loader- Market Size & Forecast 2019-2030, (Thousand Units)
- Trenchers- Market Size & Forecast 2019-2030, (Thousand Units)
- Dump trucks- Market Size & Forecast 2019-2030, (Thousand Units)
- Others- Market Size & Forecast 2019-2030, (Thousand Units)
Material Handling Equipment- Market Size & Forecast 2019-2030, (Thousand Units)
- Cranes- Market Size & Forecast 2019-2030, (Thousand Units)
- Forklift- Market Size & Forecast 2019-2030, (Thousand Units)
- Tipper- Market Size & Forecast 2019-2030, (Thousand Units)
- Others- Market Size & Forecast 2019-2030, (Thousand Units)
Other Construction Equipment- Market Size & Forecast 2019-2030, (Thousand Units)
- Road Roller -Market Size & Forecast 2019-2030, (Thousand Units)
- Diesel Generator-Market Size & Forecast 2019-2030, (Thousand Units)
- Others Market Size & Forecast 2019-2030, (Thousand Units)

By Application

Power & Utilities- Market Size & Forecast 2019-2030, (Thousand Units)
Mining - Market Size & Forecast 2019-2030, (Thousand Units)
Hospitality- Market Size & Forecast 2019-2030, (Thousand Units)
Residential- Market Size & Forecast 2019-2030, (Thousand Units)
Healthcare & Educational- Market Size & Forecast 2019-2030, (Thousand Units)
Roads & Highway- Market Size & Forecast 2019-2030, (Thousand Units)
Manufacturing Units- Market Size & Forecast 2019-2030, (Thousand Units)
Other- Market Size & Forecast 2019-2030, (Thousand Units)

By Power Output

Less than 100 HP- Market Size & Forecast 2019-2030, (Thousand Units)
101-200 HP- Market Size & Forecast 2019-2030, (Thousand Units)
201-400 HP- Market Size & Forecast 2019-2030, (Thousand Units)
More than 400 HP- Market Size & Forecast 2019-2030, (Thousand Units)

By Propulsion

Diesel- Market Size & Forecast 2019-2030, (Thousand Units)
Gas - Market Size & Forecast 2019-2030, (Thousand Units)
- CNG -Market Size & Forecast 2019-2030, (Thousand Units)
- LPG -Market Size & Forecast 2019-2030, (Thousand Units)
Electric- Market Size & Forecast 2019-2030, (Thousand Units)

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Construction Equipment Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Key Players and Competitive Strategies in the Construction Equipment Market

Several prominent players dominate the Construction Equipment Market, including:

Caterpillar
Volvo
Komatsu
CNH Industrial
Liebherr
Hitachi Construction
John Deere
Dooson
JCB
Terex
CEAT Limited

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Questions Addressed in this Study

1.What factors are driving the Construction Equipment Market growth?

2.How is the Construction Equipment Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Construction Equipment Market?

4.What is the current size of the Construction Equipment Market, and how is it projected to change in the future?

5.What is the future outlook for the Construction Equipment Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.