North America Construction Equipment Market (2020-2026) | Size, Share, industry, Growth, Revenue, Analysis, Forecast, Trends & Segmentation

Latest 2023 Development of the North America Construction Equipment Market

The North America construction equipment market is registering rising adoption of telematics technology. The use of telematics technology in construction equipment has been increasing in North America. Telematics can help improve equipment efficiency, reduce downtime, and increase safety. In addition, safety is always a top priority in the construction industry, and equipment manufacturers are constantly working to improve safety features and reduce the risk of accidents. This includes innovations such as collision avoidance systems and better visibility from cabs. Additionally, The COVID-19 pandemic has had an impact on the North America construction equipment market. The construction process was halted due to the pandemic. However, the market has recovered in recent years primarily driven by increased government spending on infrastructure projects and the growth of the rental market.

The North America construction equipment industry is also experiencing increasing demand for electric construction equipment. There has been a growing interest in electric construction equipment in North America, as companies look for ways to reduce emissions and improve sustainability. Several manufacturers have introduced electric versions of their equipment, including excavators, loaders, and skid steers. For example, Caterpillar has introduced an electric mini excavator and electric wheel loader, and Volvo Construction Equipment has introduced an electric compact excavator. Additionally, there has also been a growing interest in autonomous construction equipment in North America, as companies look for ways to increase efficiency and reduce labor costs. Several manufacturers have been developing autonomous equipment, including Caterpillar, Komatsu, and Volvo Construction Equipment. Moreover, the market has also witnessed a growing demand for rental equipment: With the cost of purchasing construction equipment on the rise, more and more construction companies are turning to rental options to meet their needs. This trend is expected to continue as construction activity remains strong and companies seek to reduce their capital expenditures.

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North America Construction Equipment Market Synopsis

North America Construction Equipment Market is projected to gain momentum in the forthcoming years on the back of increased infrastructural development of residential buildings with the growing expatriate population across the region. Moreover, the increase in the expansion of the construction sector as the growing number of ongoing construction projects across the region such as California High-Speed Rail, Richards Boulevard Office Complex, Los Angeles International Airport, and Vogtle Electric Generating Plant is estimated to instigate the deployment of construction equipment and is further estimated to boost the growth of the North America construction equipment market in the coming timeframe. 

The growing construction industry and the rapid development of infrastructure and facilities have propelled the growth of the North America construction equipment market. Construction equipment has led to the growth of the construction industry by saving labour costs and time. Moreover, the demand for construction equipment has been established due to technological improvement and urbanization including transportation, mining, etc.

According to 6wresearch, North America Construction Equipment Market is expected to grow during 2020-2026. In North America, the United States holds a major share in the construction industry due to the increasing investments in property and expanding infrastructure leading to a surge in construction equipment market revenues. Over the past few years, growth in commercial and residential construction has been observed which is one of the major factors leading to the growth of the North America construction equipment market.

Based on types, the road construction equipment segment is expected to contribute a major share of the North America construction equipment market due to the rapid construction of the private and public sectors. Among the other application segment, the construction segment holds the major share followed by the mining segment. Moreover, the construction market of North America is anticipated to grow with the competitive players expanding their fleets with new and innovative products during the forecast period. The top key players operating in the North America construction equipment Market include The Manitowoc Company Inc., Komatsu Ltd., Deere & Company., Sany heavy industry Co.Ltd.

Further, several ongoing projects across the region are California high-speed rail construction, Las Vegas convention centre people, and Hudson yards, which are likely to indicate the massive demand for construction equipment is expected to benefit the North America construction equipment market growth in the coming timeframe. Moreover, rising infrastructure investment such as highways, bridges, and metros is anticipated to instigate the adoption of construction equipment during the forecast period. Additionally, On the basis of product type, Earthmoving works in various earth activities such as digging trenches, grading soil, and removing dirt which would foster the significant demand for construction equipment and would instigate the growth of the North America construction equipment market in the coming years.

The North America construction equipment market report comprehensively covers the market by types, applications, and countries including the US, Canada, and the Rest of North America. The North America construction equipment market outlook provides an unbiased and detailed analysis of the ongoing North America construction equipment market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

• North America Construction Equipment Market Overview.
• North America Construction Equipment Market Outlook.
• Historical Data of North America Construction Equipment Market Revenues & Volume for the Period 2016-2019.
• North America Construction Equipment Market Size and North America Construction Equipment Market Forecast until 2026
• Historical Data of North America Construction Equipment Market Revenues and Volume, By Types, for the Period 2016-2019
• Market Size & Forecast of North America Construction Equipment Market Revenues and Volume, By Types, until 2026
• Historical Data of North America Construction Equipment Market Revenues and Volume, By Applications, for the Period 2016-2019
• Market Size & Forecast of North America Construction Equipment Market Revenues and Volume, By Applications, until 2026
• Historical Data of United States Construction Equipment Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of United States Construction Equipment Market Revenues and Volume, until 2026
• Historical Data of Canada Construction Equipment Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Canada Construction Equipment Market Revenues and Volume, until 2026
• Historical Data of Rest of North America Construction Equipment Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Rest of North America Construction Equipment Market Revenues and Volume, until 2026
• Market Drivers and Restraints
• North America Construction Equipment Market Trends and Industry Life Cycle
• Porter's Five Force Analysis
• Market Opportunity Assessment
• North America Construction Equipment Market Share, By Players
• North America Construction Equipment Market Share, By Regions
• North America Construction Equipment Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The North America Construction Equipment Market report provides a detailed analysis of the following market segments:

• By Types:

  • Cranes
    • Mobile Cranes
    • Crawler Cranes
    • Tower Cranes
  • Earthmoving Equipment
    • Loaders
    • Excavators
    • Motor Grader
  • Aerial Work Equipment
    • Articulated Boom Lifts
    • Telescopic Boom Lifts
    • Scissor Lifts
  • Material Handling Equipment
    • Telescopic Handlers
    • Forklifts
  • Road Construction Equipment
    • Pavers
    • Road Rollers
  • Dump Trucks
  • Construction Tractor and Bulldozer

By Applications:

• Construction
• Oil & Gas
• Mining
• Others (Municipality, Road Construction)

By Countries:

• United States
• Canada
• Rest of North America