Market Forecast 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), By Regions(North America, Europe, Latin America, Asia Pacific, Middle East & Africa)and competitive landscape
Product Code: ETC001640 | Publication Date: Dec 2023 | Updated Date: Sep 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
According to 6Wresearch internal database and industry insights, the Global Construction Equipment Market was accounted at USD 198.8 billion in 2024 and is projected to reach nearly USD 308.9 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period (2025-2031).
Report Name | Global Construction Equipment Market |
Forecast Period | 2025-2031 |
CAGR | 6.7% |
Growing Sector | Energy Transition & Urban Development |
The Global Construction Equipment Market report thoroughly covers the market by types, applications, and regions. The market report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
Global Construction Equipment Market is expected to witness significant growth in the upcoming years, backed by multi-trillion-dollar infrastructure pipelines, growth in urban population growth, need for housing, and the clean-energy transition. Apart from this, governments and private developers across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are investing in transportation networks, renewable energy, utilities, industrial parks, and social infrastructure, augmenting demand for advanced construction machinery.
Below are some prominent drivers and their influence on market dynamics:
Driver | Primary Segments Affected | Why It Matters (Evidence) |
Infrastructure & Energy Transition | All equipment types | Massive pipelines for roads, rail, ports, grid upgrades, and renewable projects raise multi-year equipment demand and installed base. |
Urbanization & Housing | Earthmoving, Road, Aerial Work | Brownfield redevelopment and high-rise construction require excavation, lifting, and access solutions. |
Industrial & Logistics Expansion | Material Handling, Earthmoving | Nearshoring, data centers, and e-commerce warehousing proliferates site prep and heavy lift needs, boosting market revenue in the long run. |
Technology Integration (IoT, Telematics, Semi-Autonomy) | All types | Predictive maintenance and productivity gains reduce TCO and pull forward replacement cycles. |
Rental | All types, esp. Aerial Work & Earthmoving | Project-based, capex-light procurement favors rentals; fleets refresh frequently and adopt low-emission equipment, influencing recurring market share growth for leading lessors. |
Global Construction Equipment Market is expected to gain traction, registering a CAGR of 6.7% during 2025-2031. Due to significant aspects such as rapid urbanization, large-scale infrastructure, and energy projects, and rising public–private investments, the demand for modern construction equipment is set to rise. Furthermore, advancements in automation, machine control, telematics, and alternative powertrains (hybrid/electric/HVO-ready) are augmenting operational efficiency and lowering lifecycle costs, accelerating adoption among contractors and fleet owners.
Below are some major restraints and their influence on market dynamics:
Restraint | Primary Segments Affected | What This Means (Evidence) |
Economic & Interest-Rate Volatility | All equipment types | Increasing cost of financing and capex caution delays fleet development and replacements. |
Regulatory & Emissions Compliance | Diesel-powered equipment | Constriction Stage V/Tier 4F and regional decarbonization targets upsurges R&D pressuring pricing. |
High Initial Investment | All equipment types | High initial investment remains a primary barrier for SMEs—channeling demand to the rental industry. |
Skilled Operator Shortage | All equipment types | Limits utilization of advanced equipment; raises training and safety program requirements. |
Supply Chain Disruptions | Components across types | Lead-time variability for engines, hydraulics, and electronics can hinder deliveries and backlog conversion. |
There are significant hurdles faced by the Global Construction Equipment Industry. For instance, macroeconomic uncertainty, tightening emission norms, and skilled labor gaps can deter long-term market growth if not mitigated through financing, training, and technology. OEMs must balance decarbonization and cost competitiveness while ensuring parts availability and robust dealer service to defend share.
There are several notable trends which are currently shaping the market dynamics:
Potential investment opportunities in the Global Construction Equipment Market include:
Some leading players dominating the Global Construction Equipment Market Share include:
Company Name | Caterpillar Inc. |
Established Year | 1925 |
Headquarters | Irving, Texas, United States |
Official Website | Click Here |
Global leader in earthmoving and power systems with extensive dealer support; strong focus on telematics, grade control, and lifecycle services to expand market share and revenue across construction, mining, and energy.
Company Name | Komatsu Ltd. |
Established Year | 1921 |
Headquarters | Tokyo, Japan |
Official Website | Click Here |
Broad portfolio of excavators, bulldozers, and autonomous-ready systems; invests in electrification and digital solutions to drive industry productivity and total market growth.
Company Name | Volvo Construction Equipment |
Established Year | 1832 |
Headquarters | Gothenburg, Sweden |
Official Website | Click Here |
Pioneer in electric compact machines and fuel-efficient technologies; emphasizes safety, sustainability, and connected services to grow global size.
Company Name | Hitachi Construction Machinery |
Established Year | 1970 |
Headquarters | Tokyo, Japan |
Official Website | Click Here |
Specialty in excavators and mining trucks with advanced hydraulics and IoT platforms; strong aftersales to maximize fleet uptime and customer revenue.
Company Name | Liebherr Group |
Established Year | 1949 |
Headquarters | Bulle, Switzerland (Construction Machinery Division) |
Official Website | Click Here |
Diverse portfolio—tower cranes, earthmoving, and mining equipment—backed by in-house component technologies, supporting premium positioning.
Governments are introducing regulations to support sustainable construction and lower environmental impacts. Some of the examples include the EU Stage V emission standards guiding engine compliance and particulate limits; United States Infrastructure Investment and Jobs Act (IIJA) catalyzing highway/bridge modernization with Buy-America provisions; China’s 14th Five-Year Plan prioritizing urban renewal and green infrastructure; India’s Bharatmala & Gati Shakti programs expanding highways and logistics; Saudi Vision 2030 funding giga-projects across urban development; and Africa’s PIDA (Programme for Infrastructure Development in Africa) enabling regional transport and energy corridors. These frameworks shape equipment specifications, fueling technologies, and procurement preferences.
The outlook remains positive on the back of sustained infrastructure outlays, industrial policy (semiconductor fabs, battery plants, data centers), and the energy transition. Sustainability mandates will push OEMs toward electric/hybrid portfolios and circular services (rebuilds, reman parts). Rental’s rising *****, coupled with digital fleet optimization, is expected to enhance utilization and project economics—propelling Global Construction Equipment Market Growth, industry revenue, and vendor share through 2031.
According to Vasudha, Senior Research Analyst, 6Wresearch, Earthmoving Equipment—including Loaders, Excavators, and Motor Graders—is expected to dominate the global market due to its foundational role across virtually all project phases: site clearing, trenching, grading, and bulk material movement.
The Construction segment is set to lead global market share driven by massive public and private investment in transport infrastructure, utilities, residential/commercial real estate, and industrial facilities.
Asia Pacific is projected to hold the largest market share owing to urbanization, housing demand, manufacturing expansion, and sustained government programs across China, India, Southeast Asia, and developed markets like Japan and South Korea.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Construction Equipment Market Overview |
3.1 Macro Economic Indicators |
3.2 Global Construction Equipment Market Revenues & Volume, 2021&2031F |
3.3 Global Construction Equipment Market - Industry Life Cycle |
3.4 Global Construction Equipment Market - Porter's Five Forces |
3.5 Global Construction Equipment Market Revenues & Volume Share, By Type, 2021&2031F |
3.6 Global Construction Equipment Market Revenues & Volume Share, By Application, 2021&2031F |
3.7 Global Construction Equipment Market Revenues & Volume Share, By Regions, 2021&2031F |
4 Global Construction Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Construction Equipment Market Trends |
6. Global Construction Equipment Market, By Type |
6.1 Global Construction Equipment Market Revenues & Volume, By Cranes 2021- 2031F |
6.2 Global Construction Equipment Market Revenues & Volume, By Construction Tractor and Bulldozer, 2021- 2031F |
6.3 Global Construction Equipment Market Revenues & Volume, By Earthmoving Equipment, 2021- 2031F |
6.4 Global Construction Equipment Market Revenues & Volume, By Aerial Work Equipment, 2021- 2031F |
6.5 Global Construction Equipment Market Revenues & Volume, By Material Handling Equipment, 2021- 2031F |
6.6 Global Construction Equipment Market Revenues & Volume, By Dump Trucks, 2021- 2031F |
6.7 Global Construction Equipment Market Revenues & Volume, By Road Construction Equipment, 2021- 2031F |
7 Global Construction Equipment Market, By Application |
7.1 Global Construction Equipment Market Revenues & Volume, By Construction, 2021- 2031F |
7.2 Global Construction Equipment Market Revenues & Volume, By Oil and Gas, 2021- 2031F |
7.3 Global Construction Equipment Market Revenues & Volume, By Mining, 2021- 2031F |
8 Global Construction Equipment Market, By Regions |
8.1 Global Construction Equipment Market Revenues & Volume, By North America, 2021- 2031F |
8.2 Global Construction Equipment Market Revenues & Volume, By Europe, 2021- 2031F |
8.3 Global Construction Equipment Market Revenues & Volume, By Latin America, 2021- 2031F |
8.4 Global Construction Equipment Market Revenues & Volume, By Asia Pacific, 2021- 2031F |
8.5 Global Construction Equipment Market Revenues & Volume, By Middle East & Africa, 2021- 2031F |
9 Global Construction Equipment Market Import-Export Trade Statistics |
10 Global Construction Equipment Market Key Performance Indicators |
11 Global Construction Equipment Market - Opportunity Assessment |
11.1 Global Construction Equipment Market Opportunity Assessment, By Type, 2031 |
11.2 Global Construction Equipment Market Opportunity Assessment, By Application, 2031 |
11.3 Global Construction Equipment Market Opportunity Assessment, By Countries, 2031 |
12 Global Construction Equipment Market - Competitive Landscape |
12.1 Global Construction Equipment Market Revenue Share, By Companies, 2024 |
12.2 Global Construction Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
13 Company Profiles |
14 Recommendations |
15 Disclaimer |
Market Forecast 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), By Regions(North America, Europe, Latin America, Asia Pacific, Middle East & Africa)and competitive landscape
Product Code: ETC001640 | Publication Date: Jul 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 |
Global construction equipment market report comprehensively covers the market by types, applications, and regions including North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa, and by key countries. The Global construction equipment market outlook report provides an unbiased and detailed analysis of the ongoing Global construction equipment market trends, opportunities/high growth areas, and market drivers which would help the stakeholders device and align their market strategies according to the current and future market dynamics.
Global Construction Equipment Market is experiencing substantial growth on account of growing infrastructure and the expansion of the construction industry over the past few years is one of the major reasons driving the demand for the construction equipment market globally. Another factor responsible for the growth in the construction equipment market is the increasing stringency of emission norms. Thus, the requirement for construction equipment has developed on account of technological advancement and modernization including railways and military operations.
According to 6wresearch, Global Construction Equipment Market is expected to register growth during 2020-2026. All over the world governments are investing majorly in the development of infrastructure and facilities such as smart cities, metros, and airports. Increasing residential and industrial projects coupled with increasing initiatives taken by the government to develop the infrastructure is adding to the Construction Equipment Market Share. However, the outbreak of coronavirus has declined the growth of the market-leading to disruption in the supply chain.
The global construction equipment market is projected to register sound revenues in the upcoming six years backed by the rising adoption of construction equipment for construction projects such as the south-north water transport project in china and Al Maktoum international airport in Dubai where equipment is vital to ensure smooth work during construction. Moreover, the rapid growth of the mining industry in developed and developing countries globally is estimated to generate high sales revenues for the construction equipment market globally backed by a rise in the demand for extraction of minerals from the depth which is obtained through the use of construction equipment and would spur the profound growth of Global construction equipment market in the coming years.
The global construction equipment market is projected to witness substantial growth during the forecast period 2020-26F backed by rising construction activities in multiple sectors like residential and industrial in the developed and developing countries. Globally, In Asia pacific region, India and China have been playing a vital role in construction equipment demand backed by the majority of the population occupied with agricultural activities where massive use of construction equipment like tractors is leading to the use of tiling, and planting fields and ensure efficient farming is expected to support the rise in significant demand for construction equipment and would instigate the use of global construction equipment market in the upcoming six years.
The global construction equipment market is anticipated to register sound revenues in the upcoming six years on the back of the rising infrastructure development in developed and developing countries. Additionally, on the basis of the region, the Latin America construction equipment market is likely to shape the market landscape and increase in the need to adopt construction equipment, especially in the mining industry. Mexico is poised to hold the largest share in the mining industry as it is attributed as the top gold and copper exporter and is leading to bring in lucrative opportunities for the to be investors and industrialists and is expected to instigate the use of construction equipment at mining some to ensure efficient work and is estimated to shape the market landscape of Latin America construction equipment market and as a result, is expected to boost the growth of the Latin America construction market in the coming years.
The Asia Pacific is expected to be the largest revenue-generating market during the coming years due to the upgrading socio-economic circumstances of countries in evolving economies. Moreover, the Middle East region is anticipated to hold a leading share in the construction equipment market and grow in the coming years on account of enhancing infrastructure expenditure in this region.
Based on applications, the construction segment is dominating the market as the number of infrastructural projects is increasing and also due to leasing and renting of construction equipment in urban and urbanizing countries. Additionally, the earthmoving segment is expected to dominate the construction equipment market during the forecast period due to its high productivity, less operating cost, and safety assurance
The Global Construction Equipment Market report provides a detailed analysis of the following market segments: