Building and Road Construction Equipment Market Report 2025

This Building and Road Construction Equipment market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The building & road construction equipment market size has grown rapidly in recent years. It will grow from $203.1 billion in 2024 to $225.01 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to economic growth, infrastructure development, urbanization, replacement and modernization.

The building & road construction equipment market size is expected to see rapid growth in the next few years. It will grow to $329.86 billion in 2029 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to infrastructure investment, smart construction, sustainable construction practices, urbanization trends, rental market expansion. Major trends in the forecast period include technological advancements, autonomous and remote-controlled equipment, digital twin technology, customization and versatility.

The building and road construction equipment market has been propelled by infrastructure development in both emerging and developed countries. Governments and private sectors in these nations are prioritizing infrastructure projects to sustain GDP growth, address the needs of expanding populations, accommodate urbanization levels, and enhance connectivity through the construction of highways and expressways. For example, India's total investment in road construction amounted to $22.4 billion, with private investment comprising 14% of the total. Additionally, the World Bank reported that private sector infrastructure investment commitments for low- and middle-income countries reached $76.2 billion in 2022, marking a 49% increase from 2021 globally. Governments and private entities in both developed and emerging economies are focusing on infrastructure advancements, utilizing high-tech equipment to streamline construction processes and reduce time, which significantly drives the growth of the building and road construction equipment market.

The growth of construction activities is anticipated to drive the expansion of the building and road construction equipment market in the future. Construction involves assembling various components to create a structure at a specific site based on a detailed design and plan. Building and road construction equipment benefit from these activities as they ensure timely project completion, enhance brand value, deliver quality work, lower costs, perform multiple tasks, ensure safety, and support technological advancements. For example, in July 2024, the US Census Bureau, a government agency in the United States, reported that the value of construction activities increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Hence, the rise in construction activities is fueling the growth of the building and road construction equipment market.

Leading companies in the building and road construction equipment market are prioritizing the development of innovative machinery, such as construction excavators and forklifts, to improve productivity and efficiency on job sites. Construction excavators and forklifts are heavy equipment designed for tasks like earthmoving, material handling, and lifting, with excavators specializing in digging and demolition, while forklifts focus on transporting and stacking materials. For example, in October 2023, HD Hyundai Construction Equipment, a South Korea-based manufacturer of high-quality equipment, unveiled a new lineup of products, including excavators, wheel loaders, and electric forklifts, at its factory in Chakan, Pune. The excavator lineup features the SMART Plus Series, which includes three models (8-ton, 14-ton, and 15-ton) tailored for infrastructure applications, and the 50-ton HX520L designed for heavy-duty mining. Additionally, the company introduced two wheel loader models (3 tons and 5 tons) and electric forklifts (2.5 tons and 3 tons) to enhance efficiency in material handling.

Major companies in the building and road construction equipment market are emphasizing the introduction of innovative technologies, such as concrete spraying equipment, to gain a competitive edge. Concrete spraying equipment is specialized machinery used in construction for shotcrete or sprayed concrete application. For example, in June 2023, Normet, a US-based manufacturer, launched the Spraymec MF 050 VC SD, which operates on Normet SmartDrive battery-electric technology, ensuring operator comfort and eco-friendly, emission-free operations. This machine features advanced dosing systems and low-pulsation concrete spraying pumps for efficient performance, specifically designed for underground mining.

In February 2022, K-Tec Earthmovers Inc., a Canadian manufacturer of earthmoving scrapers, merged with Ashland Industries, a US-based company specializing in earthmoving equipment. This strategic merger is set to provide a broader range of earthmoving scrapers, catering to the construction and mining industries. The collaboration also promises shorter lead times for customers and expedited product design and launch, enhancing the competitive position of both companies in the market.

Building and road construction equipment encompasses self-propelled or towed machinery utilized directly in the construction of buildings and roads.

The primary product categories within the realm of building and road construction equipment include motor graders, road rollers, wheel loaders, concrete mixers, bulldozers, and various other equipment types. Motor graders play a crucial role in fine-tuning the rough grading work carried out by heavy construction equipment like scrapers and bulldozers. These equipment types are further classified into categories such as earthmoving equipment, material-handling equipment, heavy construction vehicles, and other equipment varieties. The applications of this equipment are primarily associated with building construction and road construction projects.

The building and road construction equipment market research report is one of a series of new reports that provides building and road construction equipment market statistics, including building and road construction equipment industry global market size, regional shares, competitors with a building and road construction equipment market share, detailed building and road construction equipment market segments, market trends and opportunities, and any further data you may need to thrive in the building and road construction equipment industry. This building and road construction equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major companies operating in the building and road construction equipment market include Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Terex Corporation, Atlas Copco Group, Deere and Company, Sany Heavy Industry Co. Ltd., Wacker Neuson SE, CNH Industrial NV, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Wirtgen Group, Kobelco Construction Machinery Co. Ltd., Manitowoc Company Inc., Bell Equipment Ltd., Astec Industries Inc., Bopparder Maschinenbau-Gesellschaft mbH, Case Construction Equipment, FAYAT Group, Gomaco Corporation Inc., HAMM AG, JLG Industries Inc., Konecranes Oyj, Kubota Corporation, LiuGong Machinery Corp. Ltd., Manitou Group, Palfinger AG, Putzmeister Holding GmbH, Sennebogen Maschinenfabrik GmbH, Tadano Ltd., Takeuchi Mfg. Co. Ltd.

Asia-Pacific was the largest region in the building and road construction equipment market in 2024. Western Europe was the second-largest region in the building and road construction equipment market. The regions covered in the building and road construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the building and road construction equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The building and road construction equipment market consists of sales of asphalt mixing plants, forklift trucks, crawler excavators, truck cranes, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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