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Construction Equipment Market Analysis Report By Product, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17619979  |  Published: July 2020  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Construction

Industry Insights

The global construction equipment market size was accounted for USD 124.7 billion, in 2019. It is projected to grow at the CAGR of 4.3% over the forecast period, 2020 to 2027. Rising investments in the development of public infrastructure across developing countries are a key factor responsible for market growth. In addition, growing commercial & residential construction activities in China, and India is contributing to market growth.

U.S. construction equipment market

In addition, rising public-private partnerships in infrastructure development are fueling the demand for construction equipment. Construction machineries are used to perform various tasks. These machineries are expensive, thus not every contractor, the builder can afford them. These equipment costs are higher, due to the rising adoption of advanced technologies. This new technology incorporation has influenced the contractor to procure this machinery on a rental basis. This is a key factor anticipated to bolster the market growth. 

Furthermore, owing to high machinery costs, repair & maintenance costs the contractors, and builders prefer to buy rental services. Construction equipment is very robust and has a lifespan of over 10 years. Due to high profitability companies enter into the construction equipment business.

Rapid urbanization is boosting the growth of residential construction in developing countries such as India, and China. This urbanization triggers the growth of public infrastructure including schools, hospitals, roads, and others. Supportive investment by the government is expected to foster the growth of the construction sector. For example, the India Brand Equity Foundation, India (IBEF) is planning to invest USD 1.4 billion in infrastructural development.

Product Insights

The construction equipment market is fragmented into concrete & road construction machinery, earthmoving machinery, and material handling machinery depending on the product. In 2019, the earthmoving machinery segment led the market in terms of revenue. Concrete & road construction machinery is projected to expand at the fastest CAGR of 6.2% during the forecasted period. In earthmoving machinery, excavators led the market with the highest share, in 2019. The growing need for digging in confined areas is boosting the growth of excavators. The integration of safety technologies and telematics enables the improved capabilities of the system.

Global construction equipment market

Growing demand for material handling machinery such as cranes across the developing countries is supporting market growth. The construction of skyscrapers, commercial buildings have fueled the demand for cranes. Rising investment in road/highway construction projects is proliferating the demand for road construction & concrete machinery like pavers, and mixers. The Indian government has planned to invest 15.0 trillion INR on road infrastructure in the next few years.

Regional Insights

In 2019, Asia Pacific accounted for over USD 60.0 billion in terms of revenue in the overall market. It is projected to grow at a CAGR of 4.9% from 2020 to 2027. The rising number of construction projects and increasing demand for heavy trucks are boosting construction growth in China. Various factors like low production, labor cost are proliferating the growth of the regional market. However, coronavirus spread has disrupted the manufacturing sector in the country.

The European construction market is projected to grow at a significant rate from 2020 to 2027. The north American market is expected to contribute substantially, owing to the rising demand for advanced machinery.

Impact of COVID-19

Coronavirus outbreak has negatively impacted construction equipment with the economic slowdown, and stoppage of construction & manufacturing activities. Thus, the demand for construction equipment was low during the first quarter of 2020. Some of the manufacturers have opened up their facilities under government regulations with safety measures.

According to Committee for European Construction Equipment (CECE), the COVID-19 pandemic is projected to be impacted by 60.0% in Europe. However, the negative impact is expected to create opportunities for robotic & automation in the construction equipment market.

Construction Equipment Market Share Insights

The construction industry is highly competitive in nature with key players leading the market. Leading players in the market include Hitachi Construction, Komatsu, Volvo construction equipment, Caterpillar Inc.

Technological innovation, enhanced efficiency are key factors gaining traction among major players in the market. For example, in 2020, Volvo construction equipment has launched an excavator with reduced fuel consumption & greater operational efficiency.

Report Scope



The base year for estimation


Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Billion & CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Latin America & Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., China, India, Japan, Brazil, and Mexico.

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global construction equipment market report on the basis of product, and region:

• Product Outlook (Revenue, USD Billion, 2016 - 2027)
    • Earth Moving Machinery
    • Material Handling Machinery
    • Concrete & Road Construction Machinery

• Earth Moving Machinery Outlook (Revenue, USD Billion, 2016 - 2027)
    • Excavators
    • Loaders
    • Others

• Material Handling Machinery Outlook (Revenue, USD Billion, 2016 - 2027)
    • Crawler Cranes
    • Trailer Mounted Cranes
    • Truck Mounted Cranes

• Concrete and Road Construction Machinery Outlook (Revenue, USD Billion, 2016 - 2027)
    • Concrete Mixers and Pavers
    • Construction Pumps
    • Others

• Regional Outlook (Revenue, USD Billion, 2016 - 2027)
    • North America
        • Canada
        • U.S.
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)

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