Construction Machinery Market

Construction Machinery Market size reached USD 141.8 billion in 2022 and is estimated to reach USD 195.6 billion in 2030 and the market is estimated to grow at a CAGR of 4.1% from 2023-2030

Construction Machinery Market

The construction machinery performs a sequence of operations to achieve a final intent. There are numerous types of construction machinery including crane, excavators, loaders, backloe, truck, and other types of machinery. Depending on the function, the construction machinery can be categorized into different groups such as roading, roofing, drilling, and finishing machinery. These machineries are often used to construct commercial, industrial, and residential buildings across the world.

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Construction Machinery Market Key Drivers

The key factors contributing towards the growth of the global Construction Machinery market include the rising government spending on various infrastructure activities, increasing the development of smart city projects across the globe, and changing emission regulation worldwide. The increasing investment for the development of public infrastructure and the private sector across the globe coupled with the growing trend of urbanization and industrialization across the world is further propelling the growth of the market. Increasing government initiative for the development of smart cities globally is increasing the demand for construction machinery to achieve the construction timeline. Moreover, renting or leasing of construction machinery and increasing advancement in construction machinery such as autonomous construction machine will create new growth opportunities in the market over the coming years. However, the high cost of various machines is likely to restrain the growth of the market.

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Based on machinery type, the Loader & Backhoe segment is expected to grow at a higher CAGR in the market during the forecast period owing to increasing applications in the infrastructure sector such as for loading, grading, dozing, leveling, grabbing, and backfilling.

Based on the Application, the market is segmented into Infrastructure, Commercial Buildings, Residential Buildings, and Industrial Buildings. The Residential segment is anticipated to lead the market over the forecast period owing to the high demand of construction machinery across the developing economies such as China and India driven by the rapid urbanization in these nations. The growing population rate followed by the changing lifestyle is encouraging people to shift towards modern housing systems, thereby boosting the growth of the residential sector in the coming years.

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Regional – Segment Analysis

Based on the region, the Asia-pacific is expected to grow at a higher CAGR in the global Construction Machinery market during the forecast period due to improving socio-economic conditions in developing countries such as China, India, and Indonesia. The presence of highly populated countries such as China and India is resulting in increasing construction activities of public projects such as airports, renewable energy projects, and sewer systems, thereby fuelling the growth of the market in this region. Moreover, the majority of the population of this region is migrating from rural to urban areas that fuel the demand for infrastructure projects, which further propel the growth of the market during the forecast period.

Top Market Players

Various notable players in the Construction Machinery market include Caterpillar Inc., AB Volvo, CNH Industrial N.V., Liebherr Group, Hitachi Construction Machinery Co., Ltd., Terex Corporation, Zoomlion Heavy Industry Science and Technology Co., Ltd., Joseph Cyril Bamford Excavators Ltd., Komatsu Ltd., Mitsubishi Heavy Industries Ltd. among others.

Key Developments:

• • In Mar 2018, Volvo decided to move 3D printing to deliver spare parts to consumers faster and efficiently. This will support to its consumers throughout the life cycle of its equipment.
  • In Jan 2018, Komatsu Ltd. acquired Quadco and Southstar Forestry Attachment Operations from Prenbec Equipment, a Canada based company. This acquisition will enhance the product portfolio and enable Komatsu to offer its customers a full range of forestry attachments. Both the companies Quadco and Southstar will operate as independent companies within the Komatsu Group.

Segments covered in the Report:

The Global Construction Machinery market has been segmented based on the Machinery Type, Application, Drive Type, and Region. Based on the Machinery Type, the market is segmented into Crane, Telescopic Handlers, Excavator, Loaders & Backloe, Motor Grader, Articulated Dump Truck, Asphalt Finisher, Crawler Dozer, Motor Scraper, Rigid Dump Truck, and Others. Based on the Application, the market is segmented into Infrastructure, Commercial Buildings, Residential Buildings, and Industrial Buildings. Based on the Drive Type, the market is segmented into Hydraulic and Electric and Hybrid.

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Report Coverage	Details
Market Revenues (2022)	USD 141.8 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Machinery Type, By Application, By Drive Type, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Caterpillar Inc., AB Volvo, CNH Industrial N.V., Liebherr Group, Hitachi Construction Machinery Co., Ltd., Terex Corporation, Zoomlion Heavy Industry Science and Technology Co., Ltd., Joseph Cyril Bamford Excavators Ltd., Komatsu Ltd., Mitsubishi Heavy Industries Ltd.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Construction Machinery Market by Machinery Type

• • Crane
  • Telescopic Handlers
  • Excavator
  • Loaders & Backloe
  • Motor Grader
  • Articulated Dump Truck
  • Asphalt Finisher
  • Crawler Dozer
  • Motor Scraper
  • Rigid Dump Truck
  • Other

Global Construction Machinery Market by Application

• • Infrastructure
  • Commercial Buildings
  • Residential Buildings
  • Industrial Buildings

Global Construction Machinery Market by Drive Type

• • Hydraulic
  • Electric and Hybrid

Global Construction Machinery Market by Region

• • North America Construction Machinery Market (Option 1: As a part of the free 25% customization)

    • by Machinery Type
    • by Drive Type
    • by Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Construction Machinery Market (Option 2: As a part of the free 25% customization)

    • by Machinery Type
    • by Drive Type
    • by Application
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Construction Machinery Market (Option 3: As a part of the free 25% customization)

    • by Machinery Type
    • by Drive Type
    • by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • ROW Construction Machinery Market (Option 4: As a part of the free 25% customization)

    • by Machinery Type
    • by Drive Type
    • by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Construction Machinery Market Leading Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Caterpillar Inc.
  • AB Volvo
  • Komatsu Ltd.
  • CNH Industrial N.V.
  • Liebherr Group
  • Hitachi Construction Machinery Co., Ltd.
  • Terex Corporation
  • Zoomlion Heavy Industry Science and Technology Co., Ltd.
  • Joseph Cyril Bamford Excavators Ltd.
  • Mitsubishi Heavy Industries Ltd.