Heavy Construction Equipment Market Report 2025

The heavy construction equipment market size has grown strongly in recent years. It will grow from $204.24 billion in 2024 to $219.33 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to construction industry expansion, rise in demolition activities, infrastructure investment and government initiatives, sustainability, and environmental considerations.

The heavy construction equipment market size is expected to see strong growth in the next few years. It will grow to $289.86 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to infrastructure modernization, sustainable construction practices, global mining industry expansion, focus on operator safety, emerging market development, customization, and versatility, rise in rental market. Major trends in the forecast period include digital transformation in construction, technological advancements and automation, adoption of electric and hybrid construction equipment, efficiency improvements with advanced hydraulic systems, telematics for fleet management.

The expansion of government infrastructure development projects is expected to drive the growth of the heavy construction equipment market in the coming years. Governments worldwide have increasingly focused on enhancing their infrastructure sectors to promote economic growth and provide world-class facilities, including power plants, bridges, dams, roads, and urban infrastructure. Heavy construction equipment plays a crucial role in these projects due to its high capacity, strength, and ability to perform in challenging environments. For example, in 2021, the Ministry of Road Transport & Highways in India allocated $22 million under the Economic Importance and Inter-State Connectivity Scheme (EIC&ISC) for FY22. This growing focus on infrastructure development is propelling the heavy construction equipment market forward.

The anticipated growth of the heavy construction equipment market is further bolstered by the flourishing construction industry. This sector, encompassing commercial manufacturing and trade activities related to infrastructure development, is witnessing a surge in construction projects, including roads, bridges, airports, and various other infrastructure undertakings. For instance, in February 2023, according to the Office for National Statistics, a UK-based statistics authority, a 5.6% annual growth in construction output in 2022, following a significant 12.8% increase in 2021. The robust growth in the construction industry underscores the indispensable role of heavy construction equipment in efficiently executing diverse tasks, contributing to the market's positive trajectory.

Major companies in the heavy construction equipment market are concentrating on innovative technologies like Independent Metering Valve Technology (IMVT) to boost operational efficiency, enhance fuel economy, minimize emissions, and offer greater precision in machine performance. This focus aims to increase productivity and provide cost savings for end users. Independent Metering Valve Technology (IMVT) is a hydraulic system design that enables separate control of flow and pressure for each actuator, facilitating precise and efficient operation while improving performance in both mobile and industrial applications. For example, in July 2022, Volvo Construction Equipment, a company based in Sweden, launched the EC550E. This model is marketed as a versatile solution for various heavy-duty applications, particularly targeting markets like India, where it has been specifically introduced. It is anticipated to enhance productivity by up to 35%, making it an appealing choice for contractors aiming to optimize efficiency on large projects.

Major companies in the heavy construction equipment market are actively developing innovative products to cater to a diverse customer base, drive increased sales, and boost overall revenue. Case Construction Equipment, a notable US-based company, launched the E-Series crawler excavator range in March 2022. Comprising seven new models with enhanced features such as redesigned cabs, improved operator experiences, upgraded hydraulics controls, and Stage V engines, these excavators aim to provide superior performance. The inclusion of a comprehensive fleet management tool with bidirectional modem technology exemplifies the commitment to customer satisfaction and operational efficiency. This strategic focus on innovative product development is instrumental in staying competitive and meeting the evolving needs of the heavy construction equipment market.

In July 2024, Komatsu Limited, a manufacturing company based in Japan, acquired Ghh Group GmbH for an undisclosed amount. This acquisition is intended to strengthen Komatsu Limited's market position, enhance its technological capabilities, and broaden its product offerings. Ghh Group GmbH is a company in the machine industry located in Germany.

Major companies operating in the heavy construction equipment market are The Volvo Group, Caterpillar Inc., CNH Industrial NV, Deere & Company, Doosan Corporation, Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Limited, Komatsu Limited, Liebherr Group, Sany Group, XCMG Group, Terex Corporation, Zoomlion Heavy Industry Science and Technology Co. Ltd., Sandvik AB, Kobelco Construction Machinery, Wirtgen Group, Manitowoc Company Inc., LiuGong Machinery Corporation, Atlas Copco Group, Palfinger AG, Tadano Ltd., Kato Works Co. Ltd., Haulotte Group, BOMAG GmbH, Yanmar Co. Ltd., Takeuchi Mfg. Co. Ltd., Kubota Corporation, Bobcat Company, Case Construction Equipment, JLG Industries Inc., Genie Industries, Skyjack Inc.

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

Heavy construction equipment, also known as heavy machinery, encompasses robust vehicles designed for executing construction tasks, particularly those involving earthwork operations and large construction projects. These machines are built to handle heavy-duty operations such as lifting, excavation, and other substantial tasks.

The primary types of heavy construction equipment include earthmoving equipment, material handling equipment, heavy construction vehicles, and other specialized machinery. Earthmoving equipment is crucial for tasks like moving large amounts of earth, excavating foundations, and landscaping. It comprises heavy vehicles, engineering equipment, trucks, and various machines used in construction operations. These machines find applications in excavation and demolition, heavy lifting, tunneling, material handling, recycling, and waste management, serving industries such as infrastructure, construction, mining, oil and gas, manufacturing, and more.

The heavy construction equipment market research report is one of a series of new reports that provides heavy construction equipment market statistics, including heavy construction equipment industry global market size, regional shares, competitors with a heavy construction equipment market share, detailed heavy construction equipment market segments, market trends and opportunities, and any further data you may need to thrive in the heavy construction equipment industry. This heavy 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.

The heavy construction equipment market consists of sales of excavators, loaders, dozers, and motor graders. 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.

This product will be delivered within 3-5 business days.