Heavy Construction Equipment Market Size, Share, Trends, Growth 2032

Heavy Construction Equipment Industry Prospective:

The global heavy construction equipment market size was evaluated at $199.18 billion in 2023 and is slated to hit $301.65 billion by the end of 2032 with a CAGR of nearly 4.72% between 2024 and 2032.

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Heavy Construction Equipment Market Overview

Heavy construction equipment involves heavy-duty vehicles that are used for different operations, such as excavation, material handling, mining, and lifting. These vehicles comprise five major equipment—structure, traction, implementation, power train, control, and information. Heavy construction equipment focuses on different parameters, such as project size, cost, time, material, safety, and quality.

Heavy Construction Equipment Market : Growth Analysis

The global heavy construction equipment market is expected to grow significantly within the next few years, owing to the rising product demand from various industries, such as construction, mining, and oil and gas. Moreover, rapidly growing infrastructural activities in emerging countries, such as China, Japan, India, South Korea, and Brazil, are also projected to propel the heavy construction equipment market in the years ahead. However, strict government regulations on heavy construction equipment may hinder the market progress in the future. Alternatively, the increasing investments and government support for construction and infrastructure are anticipated to offer lucrative opportunities for the heavy construction equipment market in the future.

In order to offer the users of this report, a comprehensive view of the heavy construction equipment market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the heavy construction equipment market has additionally been enclosed within the study. The study includes a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The study also includes the market share of the key participants operating in the heavy construction equipment market across the globe. In addition, the report covered the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures, and regional growth of key players within the market on a regional basis.

Heavy Construction Equipment Market Segmentation Analysis

he global heavy construction equipment market is classified based on type, application, and end-user industry.

By type, the global heavy construction equipment includes material handling, heavy construction vehicles, earthmoving, and others. The material handling segment is slated to grow at the fastest pace over the forecast timeframe, owing to the rising infrastructural activities in emerging economies. In 2023, the earthmoving segment held a significant share of the global heavy construction equipment market.

By application, the market is segmented into heavy lifting, excavation and demolition, transportation, recycling and waste management, tunneling, and material handling. The excavation and demolition segment contributed the largest share toward the global heavy construction equipment market in 2023 and is likely to dominate in the upcoming years as well.

By end-user industry, the market includes construction and manufacturing, public work and railroad, oil and gas, mining, and others. In 2023, the construction and manufacturing segment dominated the global market and is anticipated to continue its dominance in the future as well.

Heavy Construction Equipment Market: Report Scope

Heavy Construction Equipment Market Regional Analysis

Regionally, Asia Pacific contributed the largest share to the global heavy construction equipment market in the previous year and is anticipated to lead the market in the future as well. This regional growth can be attributed to the region’s thriving construction industry and improving economic conditions. North America will be the second-largest regional market for heavy construction equipment, followed by Europe, in the years ahead.

Some key players of the global heavy construction equipment market are

• J C Bamford Excavators Ltd.
• AB Volvo
• Hitachi Construction Machinery Co. Ltd.
• Caterpillar, Inc.
• Komatsu Ltd.
• Doosan Infracore Co. Ltd.
• Hyundai Heavy Industries Co. Ltd.
• Liebherr Group
• Terex Corporation
• Sany Heavy Industries Co. Ltd.
• Deere & Company
• Xuzhou Construction Machinery Group Co. Ltd.
• and Shandong Heavy Industry Group Co. Ltd., among others.

This report segments the global heavy construction equipment market into:

By Type Analysis

• Earthmoving
• Material Handling
• Heavy Construction Vehicles
• Others (Pavers/Asphalt Finishers/Compactors and Road Rollers)

By Application Analysis

• Excavation and Demolition
• Heavy Lifting
• Tunneling
• Transportation
• Recycling and Waste Management
• Material Handling

By End-User Industry Analysis

• Construction and Manufacturing
• Public Work and Rail Road
• Oil and Gas
• Mining
• Others (Forestry and Agriculture and Military)

Global Heavy Construction Equipment Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa