Construction Equipment Market by Product (Earth Moving Machinery, Material Handling Machinery, and Concrete & Road Construction Machinery), Propulsion Type (ICE, Electric and CNG/LNG), Power Output (<100 HP, 101-200 HP, 201-400 HP, and >401 HP), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Construction Equipment Overview

Construction equipment refers to a large variety of machinery and tools used in the construction sector to carry out a number of tasks successfully and effectively. These tools are designed to perform specific functions and are necessary for the successful completion of building projects. Some common sorts of construction equipment consist of excavators, bulldozers, loaders, cranes, backhoes, concrete mixers, and compactors. Excavators are heavy-duty machines with a bucket and arm that are used for digging and shifting massive quantities of earth and debris. They are typically used in excavation, demolition, and site training work. Bulldozers, on the other hand, are powerful machines equipped with a large blade in the front that is used for pushing soil, rocks, and different materials. They are perfect for clearing land, leveling surfaces, and creating get entry to roads.

Global Construction Equipment Market Analysis

The global construction equipment market size was $194,707.5 million in 2022 and is predicted to grow with a CAGR of 5.2%, by generating a revenue of $321,675.16 million by 2032.

COVID-19 Impact on Global Construction Equipment Market

The global construction equipment market has been extensively impacted by the COVID-19 pandemic. The construction industry, like many others, confronted numerous challenges and disruptions due to lockdowns, supply chain disruptions, and reduced demand. One of the primary consequences of the pandemic was a halt in construction activities and contract delays. Many construction projects were halted or postponed, resulting in a decrease in demand for construction equipment. With transportation restrictions and social distancing measures in place, construction sites faced challenges in maintaining productivity and guaranteeing worker safety. The COVID-19 pandemic highlighted the significance of technology and digitization in the construction industry. Remote collaboration tools, digital meetings, and digital issue management solutions grew in popularity as businesses sought ways to maintain operations while following security rules.

Growing Infrastructure Development and Construction Activities to Drive the Market Growth

The global construction equipment market is influenced by several factors, however one of the key drivers is the rising infrastructure development and construction activities.  Infrastructure projects such as road building, bridge construction, railway construction, airport construction, and urban transforming all play a significant role in boosting construction equipment demand. Governments and private entities invest extensively in infrastructure to support economic growth, improve connectivity, and increase the quality of life. Large-scale infrastructure projects necessitate a wide range of construction tools, including excavators, bulldozers, cranes, and loaders, to mention a few. The demand for these devices is strongly related to the global growth in infrastructure investment and construction activities.

Volatility In Raw Material Prices to Restrain Market Growth

The unpredictability of raw material costs is one of the major problems for the global construction equipment market's expansion. Steel, aluminum, rubber, and electrical components are among the raw materials used in construction equipment. Fluctuations in the prices of these raw materials can have a significant impact on the manufacturing costs and profitability of tool manufacturers. Raw material rate volatility is impacted by factors such as global demand and supply dynamics, geopolitical conflicts, trade regulations, and foreign money fluctuations. Unexpected rate hikes or raw material shortages might interrupt construction equipment manufacturing and result in higher prices. This, in turn, might affect the affordability and competitiveness of the products on the market.

Advancements in Technology to Drive Excellent Opportunities

Technological development has brought about outstanding opportunities for the global construction equipment industry. New technological advances are transforming the construction sector, increasing production, efficiency, and safety. These technical improvements are boosting demand for improved construction equipment and offering new market opportunities. Telematics is a significant innovation in riding possibilities. Telematics systems capture and send data from building equipment using GPS and wireless communication. The data comprises information on tool usage, fuel consumption, maintenance requirements, and location monitoring. Construction companies can use telematics to optimize gear utilization, tune project development in real-time, and successfully regulate their fleets. This technology enables better decision-making, decreases downtime, and increases overall operational efficiency.

Global Construction Equipment Market Share, by Product, 2022

Material managing machinery sub-segment accounted for the highest market share in 2022.  These machines have been developed to handle, move, and manage materials in a safe and effective manner, making them available in a wide range of construction activities. The increased emphasis on productivity and efficiency in construction projects is one of the primary factors driving the dominance of material handling equipment. These machines enable rapid and environmentally friendly material movement, decreasing human effort and saving time. Material handling machines, such as forklifts, telehandlers, and cranes, are required for lifting, stacking, and moving materials on construction sites due to their ability to manage huge loads.

Global Construction Equipment Market Share, by Propulsion Type, 2022

The ICE sub-segment accounted for the highest market share in 2022. One of the key factors contributing to ICE's dominance is its capability to take care of heavy-duty tasks. Construction equipment, such as excavators, bulldozers, and loaders, require considerable strength and torque to function activities like digging, lifting, and shifting large quantities of material. ICE-powered engines are recognized for their excessive torque output, making them well-suited for these traumatic applications.  Furthermore, ICE-powered construction equipment outperforms other power sources in terms of petrol efficiency, particularly in heavy-duty tasks. Diesel engines are well-known for their efficiency and capacity to produce large amounts of energy. This makes them more suitable for long-duration and high-intensity construction tasks when continuous operation is necessary.

Global Construction Equipment Market Share, by Power Output, 2022

The <100 HP sub-segment accounted for the highest market share in 2022. Equipment with less than <100 HP is dominating the global construction equipment market for a number reasons. <100 HP construction equipment offers a range of versatile and compact machines that are well-suited for a broad array of construction applications. One of the key factors driving the dominance of <100 HP tools is its flexibility and maneuverability.  In comparison to larger equipment, these machines are often smaller in size and weight. This enables them to enter and operate in constricted locations, urban regions, and initiatives with limited maneuvering room. Their small size also makes them easier to transport, reducing logistical obstacles for construction companies.

Global Construction Equipment Market Share, by Region, 2022

The Asia Pacific construction equipment market generated the highest revenue in 2022. With its robust development industry, speedy urbanization, and large-scale infrastructure development projects, Asia Pacific has emerged as a key driver of market growth. One of the important factors contributing to Asia Pacific's dominance is the region's substantial investment in infrastructure. Countries such as China, India, and Southeast Asian countries have been heavily investing in infrastructure development, inclusive of roads, railways, airports, ports, and urban infrastructure. These investments have created an excessive demand for construction equipment, ranging from digging machines to concrete tools and cranes.

Competitive Scenario in the Global Construction Equipment Market

The global construction equipment market is characterized by severe opposition amongst key players such as Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Liebherr Group, JCB Ltd., and Sany Group Co. Ltd. These companies compete based on factors such as product innovation, superior technologies, fuel efficiency, security features, and global presence. They seek to gain a major market share by providing a diverse range of equipment, such as excavators, loaders, bulldozers, cranes, and compactors, while also focusing on expanding distribution networks, strategic collaborations, and providing comprehensive after-sales services. The competitive nature of the industry motivates manufacturers to constantly improve their offerings and respond to the changing needs of construction companies worldwide.

1.    Research Methodology
1.1.    Desk Research
1.2.    Real time insights and validation
1.3.    Forecast model.
1.4.    Assumptions and forecast parameters
1.5.    Market size estimation
1.5.1.    Top-down approach
1.5.2.    Bottom-up approach
2.    Report Scope
2.1.    Market definition
2.2.    Key objectives of the study
2.3.    Report overview
2.4.    Market segmentation
Overview of the impact of COVID-19 on construction equipment market.
3.    Executive Summary
4.    Market Overview
4.1.    Introduction
4.2.    Growth impact forces
4.2.1.    Drivers
4.2.2.    Restraints
4.2.3.    Opportunities
4.3.    Market value chain analysis
4.3.1.    List of raw material suppliers
4.3.2.    List of manufacturers 
4.3.3.    List of distributors
4.4.    Innovation & sustainability matrices
4.4.1.    Technology matrix
4.4.2.    Regulatory matrix
4.5.    Porter’s five forces analysis
4.5.1.    Bargaining power of suppliers
4.5.2.    Bargaining power of consumers
4.5.3.    Threat of substitutes
4.5.4.    Threat of new entrants
4.5.5.    Competitive rivalry intensity
4.6.    PESTLE analysis
4.6.1.    Political
4.6.2.    Economical
4.6.3.    Social
4.6.4.    Technological
4.6.5.    Environmental
4.7.    Impact of COVID-19 on construction equipment market
4.7.1.    Pre-covid market scenario
4.7.2.    Post-covid market scenario
5.    construction equipment market, by Product
5.1.    Overview
5.2.    Earth Moving Machinery
5.2.1.    Definition, key trends, growth factors, and opportunities
5.2.2.    Market size analysis, by region, 2022-2032
5.2.3.    Market share analysis, by country, 2022-2032
5.3.    Material Handling Machinery
5.3.1.    Definition, key trends, growth factors, and opportunities
5.3.2.    Market size analysis, by region, 2022-2032
5.3.3.    Market share analysis, by country, 2022-2032
5.4.    Concrete & Road Construction Machinery
5.4.1.    Definition, key trends, growth factors, and opportunities
5.4.2.    Market size analysis, by region, 2022-2032
5.4.3.    Market share analysis, by country, 2022-2032
5.5.    Research Dive Exclusive Insights
5.5.1.    Market attractiveness
5.5.2.    Competition heatmap
6.        Construction Equipment Market, by Earth Moving Machinery  
6.1.    Overview
6.2.    Excavators
6.2.1.    Definition, key trends, growth factors, and opportunities
6.2.2.    Market size analysis, by region, 2022-2032
6.2.3.    Market share analysis, by country, 2022-2032
6.3.    Loaders
6.3.1.    Definition, key trends, growth factors, and opportunities
6.3.2.    Market size analysis, by region, 2022-2032
6.3.3.    Market share analysis, by country, 2022-2032
6.4.    Others
6.4.1.    Definition, key trends, growth factors, and opportunities
6.4.2.    Market size analysis, by region, 2022-2032
6.4.3.    Market share analysis, by country, 2022-2032
6.5.    Research Dive Exclusive Insights
6.5.1.    Market attractiveness
6.5.2.    Competition heatmap
7.    Construction Equipment Market, by Material Handling Machinery  
7.1.    Overview
7.2.    Crawler Cranes
7.2.1.    Definition, key trends, growth factors, and opportunities
7.2.2.    Market size analysis, by region, 2022-2032
7.2.3.    Market share analysis, by country, 2022-2032
7.3.    Trailer Mounted Cranes
7.3.1.    Definition, key trends, growth factors, and opportunities
7.3.2.    Market size analysis, by region, 2022-2032
7.3.3.    Market share analysis, by country, 2022-2032
7.4.    Truck Mounted Cranes
7.4.1.    Definition, key trends, growth factors, and opportunities
7.4.2.    Market size analysis, by region, 2022-2032
7.4.3.    Market share analysis, by country, 2022-2032
7.5.    Research Dive Exclusive Insights
7.5.1.    Market attractiveness
7.5.2.    Competition heatmap
8.    Construction Equipment Market, by Concrete And Road Construction Machinery
8.1.    Overview
8.2.    Concrete Mixer & Pavers
8.2.1.    Definition, key trends, growth factors, and opportunities
8.2.2.    Market size analysis, by region, 2022-2032
8.2.3.    Market share analysis, by country, 2022-2032
8.3.    Construction Pumps
8.3.1.    Definition, key trends, growth factors, and opportunities
8.3.2.    Market size analysis, by region, 2022-2032
8.3.3.    Market share analysis, by country, 2022-2032
8.4.    Others
8.4.1.    Definition, key trends, growth factors, and opportunities
8.4.2.    Market size analysis, by region, 2022-2032
8.4.3.    Market share analysis, by country, 2022-2032
8.5.    Research Dive Exclusive Insights
8.5.1.    Market attractiveness
8.5.2.    Competition heatmap
9.    Construction Equipment Market, by Region
9.1.    North America
9.1.1.    U.S.
9.1.1.1.    Market size analysis, by Product
9.1.1.2.    Market size analysis, by Earth Moving Machinery 
9.1.1.3.    Market size analysis, by Material Handling Machinery
9.1.1.4.    Market size analysis, by Concrete And Road Construction Machinery
9.1.2.    Canada
9.1.2.1.    Market size analysis, by Product
9.1.2.2.    Market size analysis, by Earth Moving Machinery 
9.1.2.3.    Market size analysis, by Material Handling Machinery
9.1.2.4.    Market size analysis, by Concrete And Road Construction Machinery
9.1.3.    Mexico
9.1.3.1.    Market size analysis, by Product
9.1.3.2.    Market size analysis, by Earth Moving Machinery 
9.1.3.3.    Market size analysis, by Material Handling Machinery
9.1.3.4.    Market size analysis, by Concrete And Road Construction Machinery
9.1.4.    Research Dive Exclusive Insights
9.1.4.1.    Market attractiveness
9.1.4.2.    Competition heatmap
9.2.    Europe
9.2.1.    Germany 
9.2.1.1.    Market size analysis, by Product
9.2.1.2.    Market size analysis, by Earth Moving Machinery 
9.2.1.3.    Market size analysis, by Material Handling Machinery
9.2.1.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.2.    UK
9.2.2.1.    Market size analysis, by Product
9.2.2.2.    Market size analysis, by Earth Moving Machinery 
9.2.2.3.    Market size analysis, by Material Handling Machinery
9.2.2.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.3.    France
9.2.3.1.    Market size analysis, by Product
9.2.3.2.    Market size analysis, by Earth Moving Machinery 
9.2.3.3.    Market size analysis, by Material Handling Machinery
9.2.3.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.4.    Spain
9.2.4.1.    Market size analysis, by Product
9.2.4.2.    Market size analysis, by Earth Moving Machinery 
9.2.4.3.    Market size analysis, by Material Handling Machinery
9.2.4.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.5.    Italy
9.2.5.1.    Market size analysis, by Product
9.2.5.2.    Market size analysis, by Earth Moving Machinery 
9.2.5.3.    Market size analysis, by Material Handling Machinery
9.2.5.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.6.    Rest of Europe
9.2.6.1.    Market size analysis, by Product
9.2.6.2.    Market size analysis, by Earth Moving Machinery 
9.2.6.3.    Market size analysis, by Material Handling Machinery
9.2.6.4.    Market size analysis, by Concrete And Road Construction Machinery
9.2.7.    Research Dive Exclusive Insights
9.2.7.1.    Market attractiveness
9.2.7.2.    Competition heatmap
9.3.    Asia Pacific
9.3.1.    China
9.3.1.1.    Market size analysis, by Product
9.3.1.2.    Market size analysis, by Earth Moving Machinery 
9.3.1.3.    Market size analysis, by Material Handling Machinery
9.3.1.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.2.    Japan 
9.3.2.1.    Market size analysis, by Product
9.3.2.2.    Market size analysis, by Earth Moving Machinery 
9.3.2.3.    Market size analysis, by Material Handling Machinery
9.3.2.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.3.    India
9.3.3.1.    Market size analysis, by Product
9.3.3.2.    Market size analysis, by Earth Moving Machinery 
9.3.3.3.    Market size analysis, by Material Handling Machinery
9.3.3.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.4.    Australia
9.3.4.1.    Market size analysis, by Product
9.3.4.2.    Market size analysis, by Earth Moving Machinery 
9.3.4.3.    Market size analysis, by Material Handling Machinery
9.3.4.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.5.    South Korea
9.3.5.1.    Market size analysis, by Product
9.3.5.2.    Market size analysis, by Earth Moving Machinery 
9.3.5.3.    Market size analysis, by Material Handling Machinery
9.3.5.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.6.    Rest of Asia Pacific
9.3.6.1.    Market size analysis, by Product
9.3.6.2.    Market size analysis, by Earth Moving Machinery 
9.3.6.3.    Market size analysis, by Material Handling Machinery
9.3.6.4.    Market size analysis, by Concrete And Road Construction Machinery
9.3.7.    Research Dive Exclusive Insights
9.3.7.1.    Market attractiveness
9.3.7.2.    Competition heatmap
9.4.    LAMEA
9.4.1.    Brazil
9.4.1.1.    Market size analysis, by Product
9.4.1.2.    Market size analysis, by Earth Moving Machinery 
9.4.1.3.    Market size analysis, by Material Handling Machinery
9.4.1.4.    Market size analysis, by Concrete And Road Construction Machinery
9.4.2.    Saudi Arabia
9.4.2.1.    Market size analysis, by Product
9.4.2.2.    Market size analysis, by Earth Moving Machinery 
9.4.2.3.    Market size analysis, by Material Handling Machinery
9.4.2.4.    Market size analysis, by Concrete And Road Construction Machinery
9.4.3.    UAE
9.4.3.1.    Market size analysis, by Product
9.4.3.2.    Market size analysis, by Earth Moving Machinery 
9.4.3.3.    Market size analysis, by Material Handling Machinery
9.4.3.4.    Market size analysis, by Concrete And Road Construction Machinery
9.4.4.    South Africa
9.4.4.1.    Market size analysis, by Product
9.4.4.2.    Market size analysis, by Earth Moving Machinery 
9.4.4.3.    Market size analysis, by Material Handling Machinery
9.4.4.4.    Market size analysis, by Concrete And Road Construction Machinery
9.4.5.    Rest of LAMEA
9.4.6.    Market size analysis, by Product
9.4.7.    Market size analysis, by Earth Moving Machinery 
9.4.8.    Market size analysis, by Material Handling Machinery
9.4.9.    Market size analysis, by Concrete And Road Construction Machinery
9.4.9.1.    Market attractiveness
9.4.9.2.    Competition heatmap
10.    Competitive Landscape
10.1.    Top winning strategies, 2022
10.1.1.    By strategy
10.1.2.    By year
10.2.    Strategic overview
10.3.    Market share analysis, 2022
11.    Company Profiles
11.1.    Caterpillar Inc.  
11.1.1.    Overview
11.1.2.    Business segments
11.1.3.    Product portfolio
11.1.4.    Financial performance
11.1.5.    Recent developments
11.1.6.    Audi
11.2.    Komatsu    
11.2.1.    Overview
11.2.2.    Business segments
11.2.3.    Product portfolio
11.2.4.    Financial performance
11.2.5.    Recent developments
11.2.6.    SWOT analysis
11.3.    Hitachi Construction Machinery  
11.3.1.    Overview
11.3.2.    Business segments
11.3.3.    Product portfolio
11.3.4.    Financial performance
11.3.5.    Recent developments
11.3.6.    SWOT analysis
11.4.    Liebherr
11.4.1.    Overview
11.4.2.    Business segments
11.4.3.    Product portfolio
11.4.4.    Financial performance
11.4.5.    Recent developments
11.4.6.    SWOT analysis
11.5.    Volvo Construction Equipment 
11.5.1.    Overview
11.5.2.    Business segments
11.5.3.    Product portfolio
11.5.4.    Financial performance
11.5.5.    Recent developments
11.5.6.    SWOT analysis
11.6.    Company No 6  
11.6.1.    Overview
11.6.2.    Business segments
11.6.3.    Product portfolio
11.6.4.    Financial performance
11.6.5.    Recent developments
11.6.6.    SWOT analysis
11.7.    Company No 7
11.7.1.    Overview
11.7.2.    Business segments
11.7.3.    Product portfolio
11.7.4.    Financial performance
11.7.5.    Recent developments
11.7.6.    SWOT analysis
11.8.    Company No 8
11.8.1.    Overview
11.8.2.    Business segments
11.8.3.    Product portfolio
11.8.4.    Financial performance
11.8.5.    Recent developments
11.8.6.    SWOT analysis
11.9.    Company No 9
11.9.1.    Overview
11.9.2.    Business segments
11.9.3.    Product portfolio
11.9.4.    Financial performance
11.9.5.    Recent developments
11.9.6.    SWOT analysis
11.10.    Company No 10
11.10.1.    Overview
11.10.2.    Business segments
11.10.3.    Product portfolio
11.10.4.    Financial performance
11.10.5.    Recent developments

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