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Heavy Construction Equipment Market

Global Heavy Construction Equipment Market Size, Forecast: By Type: Earth Moving Equipment, Heavy Construction Vehicles, Material handling Equipment, Others; By Application: Heavy Lifting, Material Handling, Transportation, Excavation and Demolition, Tunneling, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Heavy Construction Equipment Market Outlook

The global heavy construction equipment market attained USD 203.62 billion in 2023. The market is expected to grow at a CAGR of 6.2% in the forecast period of 2024-2032 to attain USD 349.94 billion by 2032.

 

Global Heavy Construction Equipment Market

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The Asia Pacific Region to Lead the Market Growth of Heavy Construction Equipment

The Asia Pacific held the major share of the market in the historical period, and is expected to do so in the forecast period as well. This is attributed to the conducive government policies as well as heavy funding by the governments in these areas to push the market for heavy construction equipment. The growing demand for heavy construction equipment in China due to its robust manufacturing sector is a leading driver of this market. Furthermore, increasing investment by the governments in the market for heavy construction equipment, such as excavators, loaders, etc., is expected to push the market forward during the forecast period. Companies across the globe are projecting a very high growth potential in the emerging economies of the Asia Pacific region and are heavily investing in the heavy construction equipment market in the region.

 

Heavy Construction Equipment: Market Segmentation

Heavy construction equipment is referred to as large scale machineries, which are used to reduce the need for manpower and increase efficiency on a large scale, while also reducing the time limit of processes. These are used in various sectors, such as oil and gas, construction, military, mining, and agriculture, and forestry. Various other sectors such as infrastructure, commercial buildings, and residential buildings are witnessing a growing demand for heavy construction equipment as well.

 

Global Heavy Construction Equipment Market By Application

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In terms of type, the market is segmented into:

  • Earth moving equipment, which is further divided by type into:
    • Excavators
    • Loaders
    • Dozers
    • Motor Graders
    • Others
  • Heavy construction vehicles, which is further divided by type into:
    • Dumpers
    • Tippers

Material handling equipment, which is further divided by type into:

  • Cranes
  • Telescopic Handlers
  • Others
  • Others

On the basis of application, the market is divided into:

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

By end use, the market is divided into:

  • Mining
  • Infrastructure
  • Forestry and Agriculture
  • Construction and Manufacturing
  • Vehicle Transport 
  • Public Works
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Heavy Construction Equipment Market By Application

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Governments Investing Heavily in Infrastructure to Aid the Market Growth of Heavy Construction Equipment

Increasing government investments in construction activity is the major driver of the heavy construction equipment industry. The demand for larger construction sites is very high in emerging countries such as China, due to their rapidly growing economies and an overhaul of infrastructure. Governments around the world are spending highly on physical and social infrastructure, creating more jobs around the same to create a higher demand for goods and services. As these economies are hosting world events such as Qatar hosting the 2023 FIFA World Cup and Japan hosting the 2020 Summer Olympics (postponed to 2021) in the forecast period, the market for heavy construction equipment is expected to witness significant growth in these areas over the forecast period. Spending on large scale infrastructure is expected to increase in the coming decade, thus pushing the market in the forecast period. However, surpassing stringent region-specific government regulations is a likely barrier to the growth of this market.

 

Key Industry Players in the Global Heavy Construction Equipment Market

The report gives a detailed analysis of the following key players in the global heavy construction equipment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Deere & Company.
  • Komatsu Ltd.
  • AB Volvo
  • Doosan Infracore Co., Ltd.
  • Hitachi Construction Machinery Co., Ltd.
  • Caterpillar Inc.
  • Liebherr-International AG
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • End Use
  • Region
Breakup by Type
  • Earth Moving Equipment
  • Heavy Construction Vehicles
  • Material handling Equipment
  • Others
Breakup by Application
  • Heavy Lifting
  • Material Handling
  • Transportation
  • Excavation and Demolition
  • Tunneling
  • Recycling and Waste Management
  • Others
Breakup by End Use
  • Mining
  • Infrastructure
  • Forestry and Agriculture
  • Construction and Manufacturing
  • Vehicle Transport 
  • Public Works
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Deere & Company.
  • Komatsu Ltd.
  • AB Volvo
  • Doosan Infracore Co., Ltd.
  • Hitachi Construction Machinery Co., Ltd.
  • Caterpillar Inc.
  • Liebherr-International AG
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Heavy Construction Equipment Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Heavy Construction Equipment Historical Market (2018-2023) 
    8.3    Global Heavy Construction Equipment Market Forecast (2024-2032)
    8.4    Global Heavy Construction Equipment Market by Type
        8.4.1    Earth Moving Equipment
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
            8.4.1.3    Breakup by Type
                8.4.1.3.1    Excavators
                8.4.1.3.2    Loaders
                8.4.1.3.3    Dozers
                8.4.1.3.4    Motor Graders
                8.4.1.3.5    Others
        8.4.2    Heavy Construction Vehicles
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
            8.4.2.3    Breakup by Type 
                8.4.2.3.1    Dumpers
                8.4.2.3.2    Tippers 
        8.4.3    Material handling Equipment
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
            8.4.3.3    Breakup by Type
                8.4.3.3.1    Cranes
                8.4.3.3.2    Telescopic Handlers
                8.4.3.3.3    Others
        8.4.4    Others
    8.5    Global Heavy Construction Equipment Market by Application
        8.5.1    Heavy Lifting
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Material Handling
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Transportation
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Excavation and Demolition
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Tunneling
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Recycling and Waste Management
            8.5.6.1    Historical Trend (2018-2023)
            8.5.6.2    Forecast Trend (2024-2032)
        8.5.7    Others
    8.6    Global Heavy Construction Equipment Market by End Use
        8.6.1    Mining
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Infrastructure
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Forestry and Agriculture
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Construction and Manufacturing
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Vehicle Transport 
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Public Works
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others
    8.7    Global Heavy Construction Equipment Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Heavy Construction Equipment Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Heavy Construction Equipment  Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Heavy Construction Equipment Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Heavy Construction Equipment Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Heavy Construction Equipment Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Deere & Company.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Komatsu Ltd.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    AB Volvo
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Doosan Infracore Co., Ltd.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Hitachi Construction Machinery Co., Ltd.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Caterpillar Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Liebherr-International AG
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Heavy Construction Equipment Market: Key Industry Highlights, 2018 and 2032
2.    Global Heavy Construction Equipment Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Heavy Construction Equipment Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Heavy Construction Equipment Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Heavy Construction Equipment Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Heavy Construction Equipment Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    Global Heavy Construction Equipment Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    Global Heavy Construction Equipment Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Heavy Construction Equipment Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Heavy Construction Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Heavy Construction Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Heavy Construction Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Heavy Construction Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Heavy Construction Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Heavy Construction Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Heavy Construction Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Heavy Construction Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Heavy Construction Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Heavy Construction Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Heavy Construction Equipment Market Structure

Key Questions Answered in the Report

In 2023, the global heavy construction equipment market attained a value of nearly USD 203.62 billion.

The market is projected to grow at a CAGR of 6.2% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 349.94 billion by 2032.

The major drivers of the market include the increased demand for advance infrastructure, and the growing investment by the governments in the market for heavy construction equipment, such as excavators and loaders, among others.

The trends of the market include the high demand for larger construction sites in emerging countries such as China, due to their rapidly growing economies and an overhaul of infrastructure.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various types of heavy construction equipment include earth moving equipment, heavy construction vehicles, and material handling equipment, among others.

Heavy lifting, material handling, transportation, excavation and demolition, tunnelling, recycling and waste management, among others are the leading applications in the market.

Mining, infrastructure, forestry and agriculture, construction and manufacturing, vehicle transport, and public works, among others are the significant end uses in the market.

The key players in the global heavy construction equipment market are Deere & Company., Komatsu Ltd., AB Volvo, Doosan Infracore Co., Ltd., Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., and Liebherr-International AG, among others.

Analyst Review

The global heavy construction equipment market attained a value of USD 203.62 billion in 2023, driven by the increasing investment by the governments in the market for heavy construction equipment. The market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 6.2%. The market is projected to reach USD 349.94 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. earth moving equipment, heavy construction vehicles, and material handling equipment, among others. On the basis of applications, the market is divided into heavy lifting, material handling, transportation, excavation and demolition, tunneling, and recycling and waste management, among others. On the basis of end uses, the market is divided into mining, infrastructure, forestry and agriculture, construction and manufacturing, vehicle transport, and public works, among others. The major regional markets for heavy construction equipment are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Deere & Company., Komatsu Ltd., AB Volvo, Doosan Infracore Co., Ltd., Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., and Liebherr-International AG, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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