Construction Equipment Market by Type (Loader, Cranes, Forklift, Excavator, Dozers, Others) By Equipment Category (Earthmoving Equipment, Material-Handling Equipment, Concrete and Road Construction Machinery) By Propulsion Type (Diesel, CNG/LNG/RNG) By Application (Infrastructure, Commercial, Residential) by Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2021-2027

Date : Jul 2021

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Report ID : 727

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Category : Machinery & Equipments

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Report Format:  PDF EXCEL PPT WORD

Construction Equipment Market Overview:

The Global Construction Equipment Market was valued at USD 185.0 billion in 2020 and is likely to reach USD 265.1 billion by 2027, growing at a CAGR of 4.5%, from 2021 to 2027. 

Construction equipment are machines which are specially designed to perform tasks and operations for the purpose of construction such as drilling, excavation, grading and much more. The increasing demand for fuel efficient and technologically advanced equipment is expected to drive the global construction equipment market growth during the forecast period. The market is anticipated to show significant growth owing to the rising development and construction of residential and commercial infrastructures globally. The increasing demand and deployment of construction equipment to reduce the labor cost and manual efforts are also contributing to the market growth.

Construction Equipment Market

Even though there was a slowdown in the global construction equipment industry, there will be visible growth during the forecast period. Joint venture public private partnerships between government and private sector will boost the construction equipment market growth. Further, rise in urbanization across the globe is increasing the demand to build infrastructure such as residential, and commercial sectors. As the population rises, the need for homes, commercial complexes also rise. This in turn will uplift the market of Global Construction Equipment. However, strict government regulations and carbon emissions may restrain the construction equipment market growth. Opportunities will be created by new technological innovations which will be expected to be a boost for the players operating in the global construction equipment market

With digitalization, automation, and connectivity are emerging as the driving factors for the global construction equipment market growth. Rentals of construction equipment is cost-effective and there are companies investing in renting heavy construction equipment. The construction industry is getting smarter. Companies are investing in new technologies to cater to the demand of advanced construction machinery. In this way   older machinery is replaced with new and upgraded machinery.

Global Construction Equipment Market Segmentation:

By Type

  • Loader
  • Cranes
  • Forklift
  • Excavator
  • Dozers

By Equipment Category

  • Earthmoving Equipment
  • Material-Handling Equipment
  • Concrete and Road Construction Machinery

By Propulsion type

  • Diesel
  • CNG/LNG/RNG

By Application

  • Infrastructure
  • Commercial
  • Residential

By Region

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

Company Profiles and Competitive Intelligence:

  • Caterpillar Inc.
  • Kobelco Construction Machinery Co. Ltd
  • CNH Industrial NV
  • Deere & Company
  • Komatsu Ltd
  • JCB India Limited
  • Volvo Group
  • Doosan Infracore
  • XCMG
  • Hitachi Construction Machinery Co., Ltd.
  • Liebherr Group
  • SANY Group
  • Terex Corporation
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Hyundai Heavy Industries Co., Ltd.

Based on equipment category, the material handling segment is projected to grow in the year 2020

The demand for machines handling heavy construction material will see the fastest growth during the Forecast period.  AGV, forklift trucks, and telescopic handlers are the basic material handling cranes used in construction and warehouse applications. The material handling equipment segment is expected to contribute to the construction equipment market. With technological advancements, construction equipment manufacturers have started marketing their marketing their equipment on online mediums. FAD Equipment Store is capitalizing on the pandemic to launch a site for material handling equipment.

Based on application, the infrastructure segment in the global construction market is expected hold significant share

Investments in residential and commercial infrastructure as well as development of residential and commercial buildings are powering the growth of the segment as there is a huge demand for construction equipment. Foreign investments in public private partnerships for infrastructural projects are expected to rise and this will boost the growth of the construction equipment market. Rapid growth of population in developing countries are expected create a demand in residential, commercial and industrial infrastructure to uplift the construction equipment market.

Based on regions, Asia Pacific region projected the highest growth in the Construction Equipment Market in the year 2020

The Asia Pacific segment is predicted to hold the major share of the global construction equipment market share. This region is witnessing demand for smart homes, commercial complexes and residential buildings, there is a rise in urbanisation. The Asia Pacific region holds the maximum share due to the rising demand for smart residential and commercial buildings. The rising number of real-estate businesses, construction work, expansion of road and rail systems are some other factors that are boosting the demand for the construction equipment market.

Leading Vendors Construction Equipment Market:

The major players operating in the global Construction Equipment Market include Caterpillar Inc., Kobelco Construction Machinery Co. Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, XCMG, among others are the key players operating in this market are focusing on collaborating with various stakeholders and innovating new products. The companies are investing in research and development.

The report also provides in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges:

Drivers

  • Investments in construction and infrastructure
  • Operational and labour cost deduction by using upgraded equipment
  • Demand for advanced technology construction equipment

Restraints

  • Environmental deterioration due to uses of construction equipment
  • Lack of skilled operators operating the equipment

Opportunities

  • Increasing urbanisation

Covid 19 Impact on the Construction Equipment Market:

The pandemic had a negative impact on the Global Construction Equipment Market as the lockdown halted all construction work.  Large infrastructure work, building projects and construction sites were kept on hold due to social distancing practices imposed worldwide. This led to a decrease in demand for construction machinery and companies in the market had to halt or slow down the production. This impacted the revenues of the market.

The report also provides in-depth analysis of key market trends:

  • The lockdown during covid 19 put a halt to the construction business
  • Rental of construction equipment is booming due to cost effectiveness

The report also provides in-depth analysis of recent News Developments and Investments:

  • Next Generation D6 dozer was launched by Caterpillar Inc.  in November 2018. It is fuel efficient and comparatively agile as compared to other models. In order to increase growth and customer loyalty, the company is constantly developing new offers.  
  • Volvo Construction Equipment, in October 2019, for the first time ever launched an electric compact wheel loader. This was launched for German tree farming. This offers an emission free and easy to maintain wheel loader for wide range of applications such as pallet handling, material loading, grading, and sweeping.

The unique insights provided by this report also includes the following:

  • In-depth value chain analysis
  • Opportunity mapping
  • Sector snapshot
  • Key Players Positioning Matrix
  • Regulatory scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market trends
  • Covid-19 impact analysis
  • Product comparison
  • Pre & Post COVID 19 impact on Construction Equipment Market
  • Competitive Landscape

Frequently Asked Questions (FAQs)

Who are the key players in the Construction Equipment Industry?

The major players operating in the global Construction Equipment Market include Caterpillar Inc., Kobelco Construction Machinery Co. Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, XCMG

What is the share of Asia Pacific in Construction Equipment Market?

Asia Pacific construction equipment market was holding approximately 31.8% of market share in the year 2020.

What is the estimated market growth rate?

The estimated market growth rate for construction equipment market is 4.5% during the forecast period (2021-2027).

How big is the Global Construction Equipment Market?

Global Construction Equipment Market was valued at USD 185.0 Million in 2020 and is likely to reach USD 265.1 million by 2027.

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Table of Contents Construction Equipment Market:

Section 1: Introduction

  • Engagement Objective
  • Scope of the Study: Segmentation 
  • Timeframe, Currency and Limitations

Section 2: Research Methodology

  • 3P Research Approach
  • Market Sizing Approach
  • Data Sources
  • Primary Research Coverage

Section 3: Executive Summary

  • Global Construction Equipment Market Summary
  • Market Snapshot
  • Regional Snapshot

Section 4: Market Overview of Construction Equipment Market

  • Drivers
  • Restraints
  • Opportunities
  • Market Trends

Section 5: Premium Insights

  • Industry Prospects
  • Major Market Segments
  • Key Trends
  • Competitive Benchmarking
  • Product Benchmarking
  • SWOT Analysis
  • Strategies Adopted-Benchmarking Heat Map
  • Recent News and Developments
  • Value Chain Analysis
  • Pain-Point Analysis
  • Porter’s Five Forces Analysis

Section 6: Market Overview of Construction Equipment Market

  • By Type
    • Loader
    • Cranes
    • Forklift
    • Excavator
    • Dozers
    • Others
  • By Equipment Category
    • Earthmoving Equipment
    • Material-Handling Equipment
    • Concrete and Road Construction Machinery
  • By Propulsion Type
    • Diesel
    • CNG/LNG/RNG
  • By Application
    • Infrastructure
    • Commercial
    • Residential

Section 7: Future Forecast & Impact of COVID-19

  • Covid 19 - Prevalence Analysis
  • Key Trends Analysis
  • 2020 Market Forecast (Pre & Post Covid-19)
  • Key Factor Analysis
  • Ecosystem Impact & Opportunity Analysis

Section 8: Regional Market Analysis (US Millions)

  • North America
    • Market Overview
    • Market Outlook
    • Key Countries & Market Estimates
      • United States
      • Canada
  • Europe
    • Market Overview
    • Market Outlook
    • Key Countries & Market Estimates
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
  • Asia Pacific
    • Market Overview
    • Market Outlook
    • Key Countries & Market Estimates
      • China
      • Japan
      • India
      • South Korea
      • Rest of APAC
  • Latin America
    • Market Overview
    • Market Outlook
    • Key Countries & Market Estimates
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East & Africa
    • Market Overview
    • Market Outlook
    • Key Countries & Market Estimates
      • GCC
      • Rest of MEA

Section 9: Competitive Scenario

  • Competitive Landscape
  • Investment Scenario by key Players
  • Key Player Overview
  • Top 5 Player Comparison
  • Player Wise Geographic Presence
  • Player Wise Target Applications
  • Competitive positioning and strategies of market players

Section 10: Company Profiles

  • Caterpillar Inc.
  • Kobelco Construction Machinery Co. Ltd
  • CNH Industrial NV
  • Deere & Company
  • Komatsu Ltd
  • JCB India Limited
  • Volvo Group
  • Doosan Infracore
  • XCMG

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