South Korea Construction Equipment Market (2025-2031) | Size, Trends, Share, Revenue, Analysis, Growth, Industry, Outlook
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)and competitive landscape
| Product Code: ETC001657 | Publication Date: Feb 2023 | Updated Date: Sep 2025 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
South Korea Construction Equipment Market Growth Rate
According to 6Wresearch internal database and industry insights, the South Korea Construction Equipment Market is expected to register a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period (2025-2031).
South Korea Construction Equipment Market Highlights
| Report Name | South Korea Construction Equipment Market |
| Forecast period | 2025-2031 |
| CAGR | 4.6% |
| Growing Sector | Construction & Infrastructure |
Topics Covered in the South Korea Construction Equipment Market Report
The South Korea Construction Equipment Market report thoroughly covers the market by types and applications. 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.
South Korea Construction Equipment Market Synopsis
South Korea Construction Equipment Market is forecast to witness massive growth on account of accelerated urban redevelopment, large-scale infrastructure projects, and growing industrial and logistics investments. Besides, the industry is witnessing upsurging demand for high-capacity cranes, earthmoving machinery, and aerial work platforms as highway modernization, port expansions, and high-rise construction accelerate. Apart from this, the market share is influenced by the widespread adoption of rental and used-equipment channels, enabling SMEs to access machinery without high upfront costs.
Evaluation of Growth Drivers in the South Korea Construction Equipment Market
Below are some prominent drivers and their influence on market dynamics:
| Drivers | Primary Segments Affected | Why it matters (evidence) |
| Large-Scale Infrastructure Projects | Road Construction Equipment; Pavers; Road Rollers | Large cale construction projects including Nationwide highway, metro, and port projects require heavy-duty machinery, furthering procurement by contractors. |
| Urban Redevelopment & High-Rise Refurbishment | Cranes (Tower & Mobile); Aerial Work Equipment; Material Handling | Urban renewal projects accelerate demand for cranes and aerial lifts for MEP and finishing works. |
| Warehouse & Industrial Expansion | Forklifts; Telescopic Handlers; Material Handling Equipment | Rapid development of domestic logistics and industrial facilities proliferates demand for material-handling equipment. |
| Rental Adoption & Flexible Procurement | Compact Loaders; Mini Excavators; Scissor Lifts | Growth of rental facilities and pay-per-use models diminishes upfront capex for small and mid-sized contractors. |
South Korea Construction Equipment Market size is projected to grow at a CAGR of 4.6% during the forecast period 2025-2031. This expansion is being buoyed by both public infrastructure spending and private-sector projects such as logistics hubs, warehouses, and industrial facilities. Replacement cycles for aging fleets, adoption of telematics-enabled equipment, and investment in electrification are reshaping market share. Rental and used-equipment channels are expanding, enabling faster project mobilization for SMEs, and driving recurring aftermarket revenue. Overall, stable demand across replacement and new-project procurement is expected to maintain growth momentum of the South Korea Construction Equipment Industry.
Evaluation of Restraints in the South Korea Construction Equipment Market
Below are some major restraints and their influence on market dynamics:
| Restraints | Primary Segments Affected | What this means (evidence) |
| Tightened Emission & Noise Regulations | Urban-deployed units across types | Acquiescence with emission and noise standards results in high costs, restricts adoption of new equipment in urban centres. |
| High Initial Capital Expenditure | Large Cranes; 100-ton+ Excavators; Dump Trucks | High upfront cost associated with heavy equipment bound outright acquisitions. |
| Competition from Used Imports & Price Pressure | Compact & Mid-size Segments | Cheaper used units from abroad affect new-equipment sales and dealer margins. |
| Skilled Workforce Shortage | Advanced Equipment with Automation Features | Insufficient trained operators restrict deployment of semi-autonomous and telematics-enabled machines. Thus, there is a need to employ skilled labor to maintain efficiency. |
South Korea Construction Equipment Market Challenges
Despite of strong growth, the South Korea construction equipment industry encounters major challenges that could hinder its expansion. For instance, compliance with stringent emissions and noise regulations in urban areas upsurges equipment costs and total cost of ownership, potentially slowing new-equipment adoption. Apart from this, there is a significate shortage of skilled operators which impedes effective deployment of advanced automated and telematics-enabled machinery, reducing operational efficiency.
South Korea Construction Equipment Market Trends
Some of the emerging trends shaping the South Korea Construction Equipment Market Growth are:
- Electrification & Hybrid Equipment: Increasing introduction of battery-electric compact excavators, forklifts, and hybrid cranes to reduce onsite emissions and comply with urban environmental rules.
- Telematics & Connected Fleets: Adoption of IoT-enabled fleet monitoring for predictive maintenance, utilization tracking, and remote diagnostics to improve productivity.
- Compactization: Rising demand for compact and mini earthmoving and lifting equipment to operate efficiently in constrained urban and underground sites.
- Rental & Pay-per-Use Models: Expansion of equipment rental offerings enables contractors to reduce upfront capex and improve utilization rates.
- Automation & Machine Control: Adoption of GPS-guided grading, semi-autonomous loaders, and remote-control cranes to improve efficiency and operational accuracy.
Investment Opportunities in the South Korea Construction Equipment Industry
There are several investment prospects which includes:
- Electric & Hybrid Equipment Development: Manufacturing and R&D of electric mini-excavators, forklifts, and hybrid cranes for urban projects.
- Aftermarket & Service Networks: Expansion of spare parts distribution, preventive maintenance, and value-added services like operator training.
- Digital Fleet Solutions: Investment in telematics platforms and predictive-maintenance software for contractors.
- Rental Fleet Expansion: Building flexible fleets for short-term infrastructure, construction, and municipal projects.
- Large-Capacity Projects Support: Supply of 100-ton+ cranes, high-capacity pavers, and heavy dump trucks for highways, ports, and industrial parks.
Top 5 Leading Players in the South Korea Construction Equipment Market
Some leading players operating in the South Korea Construction Equipment Market include:
1. Hyundai Construction Equipment Co., Ltd.
| Company Name | Hyundai Construction Equipment Co., Ltd. |
| Establishment Year | 1985 |
| Headquarter | Seoul, South Korea |
| Official Website | Click here |
Hyundai Construction Equipment is one of the most prominent players, offering excavators, wheel loaders, and other heavy machinery with a strong focus on innovation and global market reach.
2. Doosan Infracore Co., Ltd.
| Company Name | Doosan Infracore Co., Ltd. |
| Establishment Year | 1937 |
| Headquarter | Seoul, South Korea |
| Official Website | Click here |
Doosan Infracore provides a wide range of construction equipment including excavators, loaders, and articulated dump trucks, renowned for their durability and advanced engineering.
3. Samsung Heavy Industries Construction Equipment Division (Legacy)
| Company Name | Samsung Heavy Industries Construction Equipment Division (Legacy) |
| Establishment Year | 1974 |
| Headquarter | Seoul, South Korea |
| Official Website | Click here |
Although now more focused on shipbuilding and offshore, Samsung’s legacy in construction equipment played a vital role in developing South Korea’s early equipment capabilities.
4. Hanwha Corporation Machinery Division
| Company Name | Hanwha Corporation Machinery Division |
| Establishment Year | 1952 |
| Headquarter | Seoul, South Korea |
| Official Website | Click here |
Hanwha is a diversified conglomerate that extends into heavy machinery and equipment manufacturing, contributing to South Korea’s infrastructure and industrial growth.
5. Volvo Construction Equipment Korea Ltd.
| Company Name | Volvo Construction Equipment Korea Ltd. |
| Establishment Year | 1978 |
| Headquarter | Changwon, South Korea |
| Official Website | Click here |
Volvo CE Korea manufactures excavators and construction equipment, integrating Swedish technology with Korean expertise to serve domestic and global markets.
Government Regulations Introduced in the South Korea Construction Equipment Market
According to South Korean Government Data, South Korea Construction Equipment Market share is estimated to secure a double-digit growth in the country in the upcoming years on the back of rising introduction of favourable polices and schemes launched by the government. One of the significant schemes is Safety Regulations and Standards, under which the government has released various safety regulations in the construction industry for the worker’s protection to reduce accidents.
Moreover, the government has been encouraging ecofriendly construction practices, to reduce the prevalence of carbon footprint, benefitting the construction equipment market growth. The government has taken an initiative promoting advanced technologies integrated construction equipment for enhanced utilization of construction equipment.
Future Insights of the South Korea Construction Equipment Market
In the future years, the South Korea Construction Equipment Market is anticipated to hold significant potential due to increasing urban development in South Korea, modernization in transport infrastructure, and industrial/logistics hub development. Apart from this, increased adoption of hybrid, electric, and fuel-efficient models will enhance South Korea Construction Equipment Market Growth, while advancements in telematics, machine control, and automation will help contractors meet stringent emission and noise regulations. In addition to this, the development of rental and used-equipment channels improves access for small contractors and SMEs, generating recurring aftermarket revenue.
Market Segmentation Analysis
The report offers a comprehensive study of the subsequent market segments and their leading categories.
By Types- Earthmoving to Dominate the Market
Earthmoving equipment is expected to dominate the South Korea construction equipment market share owing to the increasing demand for excavators in the construction industry which enhances work efficiency and energy. Furthermore, the sales of construction equipment are anticipated to increase during the forecast period which makes south Korea the third-largest construction equipment market in East Asia and one of the tenth-largest in the world.
By Applications- Construction to Dominate the Market
According to Vasudha, Senior Research Analyst, 6Wresearch, Construction segment is projected to lead the market due to urban redevelopment, residential, commercial, and infrastructure projects. On the other hand, Oil & Gas shows moderate growth supported by refinery and pipeline construction requiring cranes and earthmoving equipment.
Key attractiveness of the report
- 10 Years Market Numbers.
- Historical Data Starting from 2021 to 2024.
- Base Year: 2024
- Forecast Data until 2031.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- South Korea Construction Equipment Market Outlook
- Market Size of South Korea Construction Equipment Market, 2024
- Forecast of South Korea Construction Equipment Market, 2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues & Volume for the Period 2021-2031
- South Korea Construction Equipment Market Trend Evolution
- South Korea Construction Equipment Market Drivers and Challenges
- South Korea Construction Equipment Price Trends
- South Korea Construction Equipment Porter's Five Forces
- South Korea Construction Equipment Industry Life Cycle
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Type for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Cranes for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Earthmoving Equipment for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Aerial Work Equipment for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Material Handling Equipment for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Road Construction Equipment for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Dump Trucks for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Construction Tractor and Bulldozer for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Application for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Corporate Enterprise for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Oil and Gas for the Period 2021-2031
- Historical Data and Forecast of South Korea Construction Equipment Market Revenues and Volume by Mining for the Period 2021-2031
- South Korea Construction Equipment Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- South Korea Construction Equipment Top Companies Market Share
- South Korea Construction Equipment Competitive Benchmarking By Technical and Operational Parameters
- South Korea Construction Equipment Company Profiles
- South Korea Construction Equipment Key Strategic Recommendation
Markets Covered
The report provides a detailed analysis of the following market segments:
By Types:
- Cranes
- Mobile Crane
- Crawler Crane
- Tower Crane
- Earthmoving Equipment
- Loaders
- Excavators
- Motor Grader
- Aerial Work Equipment
- Articulated Boom Lifts
- Telescopic Boom Lifts
- Scissor Lifts
- Material Handling Equipment
- Telescopic Handlers
- Forklifts
- Dump Trucks
- Road Construction Equipment
- Pavers
- Road Rollers
- Construction Tractor and Bulldozer
By Applications:
- Construction
- Oil & Gas
- Mining
- Others (Municipality, Road Construction)
South Korea Construction Equipment Market (2025-2031): FAQs
The market is projected to grow at a CAGR of 4.6% during 2025-2031.
Leading players include Hyundai Construction Equipment, Doosan Infracore, Volvo CE, Komatsu Korea, and Doosan Bobcat.
The construction segment leads, driven by urban redevelopment, commercial, residential, and infrastructure projects.
Challenges include emission compliance costs, high capital expenditure, competition from used imports, shortage of skilled operators, and component cost volatility.
6Wresearch actively monitors the South Korea Construction Equipment Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the South Korea Construction Equipment Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1. Executive Summary |
| 2. Introduction |
| 2.1 Report Description |
| 2.2 Key Highlights |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3. South Korea Construction Equipment Market Overview |
| 3.1 Country Indicators |
| 3.2 South Korea Construction Equipment Market Revenues and Volume, 2021-2031F |
| 3.3 South Korea Construction Equipment Market Revenue Share, By Types, 2021&2031F |
| 3.4 South Korea Construction Equipment Market Revenue Share, By Application, 2021&2031F |
| 3.5 South Korea Construction Equipment Market - Industry Life Cycle |
| 3.6 South Korea Construction Equipment Market - Porter’s Five Forces |
| 4. South Korea Construction Equipment Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.2.1 Increasing government investments in infrastructure projects |
| 4.2.2 Growing urbanization leading to demand for new construction projects |
| 4.2.3 Technological advancements in construction equipment |
| 4.2.4 Rising demand for environmentally friendly and energy-efficient equipment |
| 4.3 Market Restraints |
| 4.3.1 Fluctuating raw material prices impacting manufacturing costs |
| 4.3.2 Stringent regulations related to emissions and safety standards |
| 4.3.3 Economic instability affecting construction activities |
| 4.3.4 Competition from rental equipment services |
| 5. South Korea Construction Equipment Market Trends |
| 6. South Korea Construction Equipment Market Overview, by Types |
| 6.1 South Korea Mobile Cranes Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.2 South Korea Construction Tractor and Bulldozer Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.3 South Korea Earthmoving Equipment Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.4 South Korea Aerial Work Equipment Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.5 South Korea Material Handling Equipment Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.6 South Korea Road Construction Equipment Market Revenues and Volume, 2021-2031F |
| 6.7 South Korea Dump Trucks Construction Equipment Market Revenues and Volume, 2021-2031F |
| 7. South Korea Construction Equipment Market Overview, by Application |
| 7.1 South Korea Construction Equipment Market Revenue and Volumes, By Oil & Gas 2021-2031F |
| 7.2 South Korea Construction Equipment Market Revenue and Volumes, By Construction 2021-2031F |
| 7.3 South Korea Construction Equipment Market Revenue and Volumes, By Mining 2021-2031F |
| 8. South Korea Construction Equipment Market Key Performance Indicators |
| 8.1 Adoption rate of advanced construction equipment technologies |
| 8.2 Rate of infrastructure project approvals and commencements |
| 8.3 Utilization rate of construction equipment in ongoing projects |
| 8.4 Number of green construction certifications achieved |
| 8.5 Average age of construction equipment fleet in the market |
| 9. South Korea Construction Equipment Market Opportunity Assessment |
| 9.1 South Korea Construction Equipment Market Opportunity Assessment, By Types, 2031F |
| 9.2 South Korea Construction Equipment Market Opportunity Assessment, By Application, 2031F |
| 10. South Korea Construction Equipment Market Competitive Landscape |
| 10.1 South Korea Construction Equipment Market By Companies, 2024 |
| 10.2 South Korea Construction Equipment Market Competitive Benchmarking, By Operating Parameters |
| 11. Company Profiles |
| 12. Key Strategic Recommendations |
| 13. Disclaimer |
Pricing
- Single User License$ 1,995
- Department License$ 2,400
- Site License$ 3,120
- Global License$ 3,795
Search
Related Reports
- Saudi Arabia Manlift Market (2025-2031) | Outlook, Size, Growth, Trends, Companies, Industry, Revenue, Value, Share, Forecast & Analysis
- Uganda Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Rwanda Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Kenya Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Angola Excavator, Crane, and Wheel Loaders Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Israel Intelligent Transport System Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Uganda Precast and Aggregate Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- Australia IT Asset Disposal Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
- UAE Building Thermal Insulation Market Outlook (2025-2031) | Revenue, Companies, Share, Trends, Growth, Size, Forecast, Industry, Analysis & Value
- Portugal Electronic Document Management Market (2025-2031) | Strategy, Consumer Insights, Analysis, Investment Trends, Opportunities, Growth, Size, Share, Industry, Revenue, Segments, Value, Segmentation, Supply, Forecast, Restraints, Outlook, Competition, Drivers, Trends, Demand, Pricing Analysis, Competitive, Strategic Insights, Companies, Challenges
Industry Events and Analyst Meet
Smart Home Expo 2026
Industrial Facilities Management Expo 2025
4th Edition India Energy Conclave 2025
Media Expo 2025
Gas India Expo 2025
Our Clients
Whitepaper
- Middle East & Africa Commercial Security Market Click here to view more.
- Middle East & Africa Fire Safety Systems & Equipment Market Click here to view more.
- GCC Drone Market Click here to view more.
- Middle East Lighting Fixture Market Click here to view more.
- GCC Physical & Perimeter Security Market Click here to view more.
6WResearch In News
- Doha a strategic location for EV manufacturing hub: IPA Qatar
- Demand for luxury TVs surging in the GCC, says Samsung
- Empowering Growth: The Thriving Journey of Bangladesh’s Cable Industry
- Demand for luxury TVs surging in the GCC, says Samsung
- Video call with a traditional healer? Once unthinkable, it’s now common in South Africa
- Intelligent Buildings To Smooth GCC’s Path To Net Zero
