Global Construction Equipment

Global Construction Equipment Market Research Report: Forecast (2022-2027)

By Type of Equipment (Earthmoving Equipment, Material Handling, Road Building & Concrete), By Type of Product (Excavator, Backhoe Loader, Grader, Skid Steer Loaders, Bulldozer, Trenchers, Road Roller, Read more

  • Buildings, Construction, Metals & Mining
  • Dec 2021
  • 193
  • BM10201

Market Overview

Construction equipment is specially designed machinery that carries out heavy-duty operations in the construction sector with high efficiency & in minimal time. With the growing number of construction & development projects worldwide, many contractors and construction companies are augmenting the demand for this equipment to speed up the project without compromising safety & security.

The most common varieties of construction equipment include excavators, loaders, bulldozers, skid steer loaders, motor graders, crawler loaders, trenchers, dump trucks, cranes, forklifts, tippers, road rollers, & diesel generators, among others. Hence, as the construction industry is growing astronomically in response to the tremendous demand for infrastructure development from emerging economies, the demand for construction equipment is expected to continue growing in the coming years.

Market Insights

The Global Construction Equipment Market is projected to grow at a CAGR of around 5% during the forecast period, i.e., 2022-27. The market is driven by an exponentially rising population & growing government focus on infrastructural development to facilitate & habituate the public. It is also demonstrating a swift rise in construction activities and an upsurging demand for different construction equipment.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 5%
Regions Covered North America: The United States, Canada, Mexico
Europe: The UK, Germany, France, Russia & CIS, Rest of Europe
Asia-Pacific: India, China, Japan, South East Asia, Others
South America: Brazil, Chile, Argentina, Others
Middle East & Africa: Saudi Arabia, UAE, Qatar, Kuwait, Nigeria, South Africa, Rest of Middle East
Key Companies Profiled Caterpillar, Volvo, Komatsu, CNH Industrial, Liebherr, Hitachi Construction, John Deere, Doosan, JCB, Terex, Others
Unit Denominations USD Million/Billion

 

In addition, governments of various countries are actively participating in the industry through investments & initiatives associated with development & construction across sectors like residential, commercial, & industrial, among others. It, in turn, is generating growth opportunities for the players to increase their production & distribution capacities for construction equipment & cater to the burgeoning demands globally. Since this equipment enables speeding up the process & successful completion of the project, different equipment like Earthmoving Equipment, Material Handling Equipment, & other construction equipment like road rollers & diesel generators, among others, are gaining popularity & demand across locations. For instance:

  • Back in November 2018, prominent player, Caterpillar Inc. introduced a Next Generation D6 dozer, which has 35% more fuel efficiency & better agility than prior models, aiding in various development & construction projects. The brand is further bringing exciting offerings for the customers to maintain brand loyalty & attain profitable growth in the coming years.

Besides, owing to the benefits of quicker task completion, minimal utilization of human power, and cost-effectiveness, several manufacturers are introducing new equipment integrating advanced technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML), among others. It is principally to bring automation & efficiency to construction & development projects & stimulating the overall industry growth worldwide. Moreover, many countries like India across regions like Asia-Pacific are emerging as opportunity areas for the players owing to the mass-scale domestic markets & rapid infrastructure development activities, exemplifying a long-term demand for construction equipment.

Hence, many players are diverting their product offerings to these regions & establishing production units to attain the highest revenue profits. In the same view, many Public-Private-Partnerships (PPP) are also observed across locations to widen the consumer base & brand visibility and attain a competitive edge in the industry. For this, many players are demonstrating product upgrades to expand the equipment applicability across sectors like mining, forestry, agriculture, waste management, and material handling, among others, and drive the market through 2027. For instance:

  • In January 2021, prominent player Komatsu Ltd. signed a joint development agreement with Honda Motor Co., Ltd to focus on electrifying Komatsu’s PCO1 micro excavators. The venture also focuses on establishing a battery-sharing system that uses Honda’s Mobile Power Pack (MPP) batteries in different construction equipment & other civil engineering & construction equipment industries.

Key Trends in the Global Construction Equipment Market

  • Availability of Construction Equipment on Rental Basis

Since many contractors understand the high investment cost for construction equipment comes with additional expenses like maintenance, repairs, transportation, and project duration-based requirements, among others, many of them are now procuring construction equipment on a rental basis for the duration of the project. In this way, they can mitigate additional costs and instead invest them in other endeavors.

It, in turn, is also instigating construction equipment owners to offer rental services to contractors and gaining more traction in the industry by making higher profits across locations. According to Construction Equipment Rental Association (CERA), countries like China & India are anticipated to demonstrate a surging demand for rental services for construction equipment, backed by the increasing number of development & construction projects during the forecast period.

Global Construction Equipment Market Research Report: Forecast (2022-2027)

Market Segmentation

Based on Application:

  • Power & Utilities
  • Mining
  • Hospitality
  • Residential
  • Healthcare & Residential Institutes
  • Manufacturing Units

The demand for construction equipment for Mining applications is likely to increase at an astronomical pace during 2021-26. Mines are industrial sites that require heavy machinery for continuous & highly-efficient operations. The profits in the mining industry are impacted highly by the efficiency of construction equipment. 

In addition, the launch of technologically advanced equipment is leading to the enhanced speed of tasks while ensuring safety. Further, the adoption of crews & excavators for the mining of precious stones & minerals Is another crucial aspect projected to contribute to the overall market growth.

Based on Type of Equipment:

  • Earthmoving Equipment
  • Material Handling
  • Other Construction Equipment

Material Handling Equipment is beneficial for the storage & movement of materials & goods during their manufacturing, distribution, and disposal. These types of equipment are used widely in warehouses & manufacturing plants. The surging popularity of material handling equipment in the logistic industry is because it offers perfect control on the material movement as well as saves costs.

Further, the rising demand for automation to increase the speed of operation & enhance the productivity of businesses is providing a lucrative opportunity for the market. Using advanced material handling equipment can help make the supply chain more efficient and minimize downtime of manufacturing plants.

Regional Projection

On the geographical front, the Global Construction Equipment Market expands across:

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

Among all, the Middle East & Africa is anticipated to dominate the market with the largest share during the forecast period. This dominance attributes to the growing focus of the governments of different countries in the region to diversify their economy away from oil and enhance the overall infrastructure of the country to attract foreign investments, making the region a hub of opportunities in the coming years.

It, in turn, is demonstrating a significant number of construction & development activities across residential, commercial, and industrial sectors, projecting a high & continual demand for construction equipment for the efficient completion of projects. Such aspects are generating growth opportunities for the leading players to increase their production & distribution capacities and cater to the burgeoning demands in the region. Besides, many countries in the Gulf also indulged in their plans called "Visions" and positively influence the construction equipment market. 

  • In January 2020, the government in Fujairah, UAE, announced the construction of a 44km road network covering 11 prominent areas in the UAE. Back in 2019, the government announced the construction of 64km of internal roads connecting the major cities in the country.

On the other hand, Asia-Pacific is anticipated to exemplify the fastest growth in the Global Construction Equipment Market during 2022-27. The market is driven by the active participation of the governments of countries like China & India, demonstrating a significant number of construction & development projects and augmenting the demand for construction equipment. Besides, the availability of this equipment on a rental basis is also expanding the consumer base across the region and generating lucrative growth opportunities for the leading players. 

China is projected to dominate the market with the highest share across Asia-Pacific on the back of numerous emerging players introducing technologically-driven construction equipment and stimulating the industry growth through 2027. Besides, the rise in the number of construction projects by the governments is also positively influencing the demand for construction equipment in China and stimulating market growth. For Instance:

  • In 2017, the government of China introduced a project to deliver One Belt One Road & a 21st century Maritime Silk Road to enhance land & waterway connectivity.

Recent Developments in the Global Construction Equipment Market

  • In May 2021, Liebherr expanded its product portfolio of T 274 haul trucks with the introduction of a new series of 305t/336 tons’ haul trucks that bridges the gap between T 284 (363 t / 400 tons) & upgraded T 264 (240 t / 265 tons).
  • In October 2019, another player, Volvo, launched their first electric compact wheel loader for German tree farming, which offers emission-free & easy-to-maintain wheel loaders for diverse applications. These might include pallet handling, material loading, grading, & sweeping, among others.

Market Dynamics

  • Key Driver: Increasing Infrastructural Development Projects Worldwide

Backed by the swift escalation 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, & India, among others, are investing substantially in public infrastructure developments and 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 and stimulating the overall industry expansion through 2027.

  • Possible Restraint: Environmental Imbalance Using Construction Equipment Emitting Greenhouse Gases

Construction equipment currently runs majorly on fossil fuels and emits various emissions like nitrogen oxides (NOx), volatile organic compounds (VOC), and carbon monoxide (CO), negatively & severely affecting the environment and causing imbalances. Such aspects are restraining the fledged utilization of construction equipment owing to the presence of stringent environment sustainability restrictions imposed by the governments of different countries globally. 

The same aspect is also emerging as an area of opportunity for the leading players to indulge themselves in the development of new equipment that can run on sustainable sources of power for functioning, like rechargeable batteries with better energy-efficiency.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Construction Equipment Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Construction Equipment Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Construction Equipment Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Construction Equipment Market study?

Frequently Asked Questions

A. The Global Construction Equipment Market is projected to grow at a CAGR of around 5% during 2022-27.

A. Increasing infrastructural development projects worldwide is anticipated drive the industry while the environmental imbalance using construction equipment emitting greenhouse gases might restrain the fledged growth of the Global Construction Equipment Market in the coming years.

A. The swift emergence of services like availability of construction equipment on rental basis to avoid additional expenses associated with the maintenance, repairs, and transportation, and others, is a key trend in the market.

A. Material Handling is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Construction Equipment Market during the forecast period.

A. “Middle East & Africa” would offer substantial growth prospects in the Global Construction Equipment Market during 2022-27.

  1. Research Basics
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Executive Summary
  3. Expert Verbatim- What our Experts Say?
  4. Global Construction Equipment Market Voice of Customer
    1. Brand Awareness
    2. End User Expectation
    3. Key Factors Impacting Vendor Selection
    4. Key Issues Encountered
    5. Vendor’s Receptiveness to Address Key Customer Issues
    6. Future Requirements
  5. Global Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
        1. Earthmoving Equipment
          1. Excavator
          2. Loaders
          3. Bulldozers
          4. Skid Steer Loaders
          5. Motor Graders
          6. Crawler Loader
          7. Trenchers
          8. Dump trucks
          9. Others
        2. Material Handling Equipment
          1. Cranes
          2. Forklift
          3. Tipper
          4. Others
        3. Other Construction Equipment
          1. Road Roller
          2. Diesel Generator
          3. Others
      2. By Application
        1. Power & Utilities
        2. Mining
        3. Hospitality
        4. Residential
        5. Healthcare & Educational
        6. Roads & Highways
        7. Manufacturing Units
        8. Others
      3. By Power Output
        1. Less than 100 HP
        2. 101-200 HP
        3. 201-400 HP
        4. More than 400 HP
      4. By Propulsion
        1. Diesel
        2. Gas
        3. Others
          1. CNG
          2. LNG
          3. Electric
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East
        5. Africa
        6. Asia Pacific
      6. By Company
        1. Revenue Shares
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
  6. North America Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. The United States
        2. Canada
        3. Mexico
  7. The United States Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  8. Canada Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  9. Mexico Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  10. South America Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. Brazil
        2. Chile
        3. Argentina
  11. Brazil Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  12. Chile Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  13. Argentina Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  14. Europe Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. The UK
        2. Germany
        3. France
        4. Russia & CIS
        5. Rest of Europe
  15. The UK Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  16. Germany Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  17. France Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  18. Russia & CIS Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  19. Middle East Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. Qatar
        4. Kuwait
        5. Rest of Middle East
  20. Saudi Arabia Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  21. UAE Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  22. Qatar Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  23. Kuwait Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  24. Africa Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. South Africa
        2. Nigeria
        3. Rest of Africa
  25. South Africa Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  26. Nigeria Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  27. Asia Pacific Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Country
        1. China
        2. India
        3. Japan
        4. South East Asia
        5. Rest of Asia Pacific
  28. China Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  29. India Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  30. Japan Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  31. ASEAN Construction Equipment Market Outlook, 2017-2027F
    1. Market Potential & Analysis
      1. Market Revenue
      2. Units Sold
    2. Market Segmentation & Analysis
      1. By Type of Equipment
      2. By Application
      3. By Power Output
      4. By Propulsion
      5. By Region
  32. Global Construction Equipment Market Trends & Insights
  33. Global Construction Equipment Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  34. Global Construction Equipment Market Hotspot & Opportunities
  35. Global Construction Equipment Market Key Strategic Imperatives for Success & Growth
  36. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Specialization
      3. Target Markets
      4. Target End Users
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Caterpillar
      2. Volvo
      3. Komatsu
      4. CNH Industrial
      5. Liebherr
      6. Hitachi Construction
      7. John Deere
      8. Doosan
      9. JCB
      10. Terex
  37. Disclaimer
Global Construction Equipment Market Segmentation