The construction equipment market is expected to grow from US$ 126,062.8 million in 2022 to US$ 223,451.1 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.
Heavy-duty vehicles developed specifically to carry out construction duties, most commonly earthwork operations, are referred to as construction equipment. The proper use of suitable equipment helps to the project's economy, quality, safety, speed, and timeliness. It is not always desired or feasible for the contractor to possess all of the construction equipment needed for the project. Excavating, digging dirt, moving it over great distances, placement, compacting, levelling, dozing, grading, and hauling are among the main processes involved in the building of any construction project.
Various excavation duties, such as excavating and moving the ground, are carried out with earthmoving equipment. Earthmoving equipment are available in various shapes and sizes. They are mostly used for repairing, constructing, elevating, agricultural, and demolition purposes. Excavators are earth-moving machines with buckets, arms, rotating cabs, and moveable tracks. A backhoe, also known as a rear actor or back digger, is a kind of excavation equipment having a digging bucket attached to the end of a two-part articulated arm. Loader is a construction machine that moves or loads materials, including asphalt, demolition waste, dirt, snow, feed, gravel, logs, raw minerals, recycled material, rock, sand, and woodchips, into or onto another type of machinery.
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Construction Equipment Market: Strategic Insights

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Construction Equipment Market: Strategic Insights

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Key stakeholders in the construction equipment market are construction equipment raw materials, construction equipment manufacturers who operate at the supply side, and construction equipment end users who operate at the demand side. In the recent years, the demand for construction equipment especially in residential and commercial construction has increased, which is expected to drive the construction equipment market growth in the next five years. Caterpillar, John Deere, Komatsu, Volvo, and Liebherr are among the key construction equipment providers. In addition to these major ecosystem players, there are several other peripheral stakeholders who play a crucial role in enabling the advancements in technologies and the adoption of these products across several industries.
Impact of COVID-19 Pandemic on Construction Equipment Market
In 2020, the COVID-19 pandemic hampered construction activities. As a result, construction equipment sales have decreased across the world. Infrastructure investments; residential, commercial, and industrial construction; underground and well construction; and institutional expenditure affect construction equipment manufacturers. The US, the UK, China, and India are among the countries that have been disproportionately affected. According to the International Construction Group, the delivery of over one-quarter of all projects (22.7%) was delayed by more than 250 days, and more than one-tenth of all projects (13.4%) were delayed by more than a year in 2020. However, projects of hospitals and other medical facilities, labs, and shipping and logistics infrastructure are in limited supply. Furthermore, several nations have begun to gradually resume activities various industries, including the construction industry. India and China have started industrial and commercial construction projects. In April 2021, industrial output climbed for the first time since January 2021, as countries began to implement new projects. Therefore, the demand for excavators, backhoe loaders, compactors, dozers, and other construction equipment surged.
Market Insight
Increasing Infrastructure Investments Post COVID-19 Pandemic
Economic activities across the world were considerably stifled due to the COVID-19 pandemic. There were huge investments in infrastructure during 2020-21, which provided momentum to the infrastructure industry growth. Infrastructure investments in electricity generation, national highway construction, railways, and shipping cargo propel the demand for construction equipment. In emerging economies, a few core infrastructure industries including coal, crude oil, steel, and cement exhibited the growth index in 2021. These factors positively impacted the construction equipment market growth. Infrastructure investment has a long-term impact on product development, which can boost GDP in long run, albeit the scale of these effects is unknown. Most countries, specifically in Middle East, have established a quadrilateral economic forum to focus on infrastructure development projects in the region. To facilitate communication among employees and with consumers, businesses use digital solutions and channels. Governments and educational institutions have done so as well.
Equipment Type Segment Insights
A large number of construction equipment is used than ever, owing to the growing number of commercial, residential, and industrial projects requiring heavy-duty tools and machinery to get the job done. In huge projects, heavy construction equipment is employed for various tasks. The choice of heavy equipment types is based on the scope and cost of the project. These factors facilitate and speed up the construction process. Excavators are a vital and frequently used piece of equipment in the construction sector.
Application Segment Insights
Based on application, the construction equipment market is segmented into residential, commercial, and industrial. A construction tool known as an asphalt mixing plant is used to produce coated roadstone and other types of asphalt concrete for use in road construction projects. Road rollers are essentially compactor-style engineering machines that push down earth, gravel, concrete, or asphalt while building roads and foundations. For installing precast piles for skyscrapers and other enormous industrial complexes needing deep foundations, a pile boring machine is used to create vertical holes on a construction site, resulting in the growth of the construction equipment market.
The construction equipment market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In June 2022, Caterpillar Inc. announced that its worldwide headquarters will be relocated from Deerfield, Illinois to the company's existing facility in Irving, Texas. The company will begin transitioning its headquarters to Irving in 2022.
Based on equipment type, the construction equipment market is segmented into heavy construction vehicles, earthmoving equipment, material handling equipment, and others. The market, based on application, is segmented into residential, commercial, and industrial. Based on region, the global construction equipment market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Construction Equipment Market Regional Insights
The regional trends and factors influencing the Construction Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Construction Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

- Get the Regional Specific Data for Construction Equipment Market
Construction Equipment Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 126.06 Billion |
Market Size by 2028 | US$ 223.45 Billion |
Global CAGR (2022 - 2028) | 10.0% |
Historical Data | 2020-2021 |
Forecast period | 2023-2028 |
Segments Covered |
By Equipment Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Construction Equipment Market Players Density: Understanding Its Impact on Business Dynamics
The Construction Equipment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Construction Equipment Market are:
- Caterpillar Inc
- CNH Industrial N.V.
- Komatsu Ltd
- Liebherr
- Terex Corporation
Disclaimer: The companies listed above are not ranked in any particular order.

- Get the Construction Equipment Market top key players overview
construction equipment market – Company Profiles
- Caterpillar Inc.
- CNH Industrial N.V.
- Hitachi Construction Machinery Co., Ltd
- J C Bamford Excavators Ltd.
- Deere & Company
- Komatsu Ltd.
- Liebherr-International Deutschland GmbH
- Terex Corporation
- Volvo CE
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
Frequently Asked Questions
What is the incremental growth of the construction equipment market during the forecast period?
Asia-Pacific dominated the Construction Equipment Market in 2021 with a share of 36.0%; it would continue to dominate the market during the forecast period and account for 38.4% share by 2028
What will be the global market size for the construction equipment market by 2028?
The global construction equipment market size is projected to reach US$ 223451.09 million by 2028.
Which is the leading equipment type segment in the construction equipment market?
The material handling equipment segment led the construction equipment market in 2021.
Which is the fastest growing regional market?
APAC is the fastest-growing regional market in the global construction equipment market in 2021.
Which are the key players holding the major market share of the construction equipment market?
The key players holding the major market share of the construction equipment market are Caterpillar, Komatsu, VOLVO Construction Equipment, John Deere and Liebherr.
What are the future trends in the construction equipment market?
The Future trends impacting the construction equipment market are -- Growing Demand for the Artificial Intelligence
What is the estimated global market size for the Construction Equipment Market in 2021?
The global construction equipment market was valued at US$ 120661.95 million in 2021
What are the driving factors impacting the global construction equipment market?
The driving factors impacting the construction equipment market are
I. Increasing Infrastructure Investments Post COVID-19 Pandemic
Growing Focus on Public-Private Partnerships (PPP)
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies -Construction Equipment Market
- Caterpillar Inc
- CNH Industrial N.V.
- Komatsu Ltd
- Liebherr
- Terex Corporation
- Zoomlion Heavy Industry Science&Technology Co., Ltd.
- J C Bamford Excavators Ltd. (JCB)
- Deere & Company
- AB Volvo
- Hitachi Construction Machinery Co., Ltd.


