Heavy Construction Equipment Market Size, Share & Trends Analysis Report 2020-2027

Heavy Construction Equipment Market Size, Share & Trends Analysis Report 2020-2027

Heavy construction equipment market size, share & trends analysis by earthmoving equipment, material handling equipment, heavy construction vehicles, others), by application (excavation & demolition, heavy lifting, material handling, tunneling, transportation, recycling & waste management), by end-use (construction & manufacturing, oil & gas, public works & railroad, infrastructure, mining, forestry & agriculture, others) and regional analysis report 2020-2027.

Industry Overview

The global heavy construction equipment market was valued at USD 132.52 billion in 2018 and is anticipated to grow at a CAGR of 5.7% over the forecast period. These types of equipment are widely used in industries including construction, mining, & energy & power among others. The key reasons behind this tremendous growth are increasing residential and commercial construction demand, stringent emission regulations on heavy equipment, and increasing PPP (Public-Private Partnership) in the development of infrastructures. Technological enhancement such as Artificial Intelligence in the construction market is expected to further boost the market growth over the forecast period. 

Heavy construction equipment includes earthmoving machinery such as excavators, loaders, dozers; material handling equipment including tower crane, forklifts, dump trucks, etc.; Concrete & road construction machinery such as concrete mixer, concrete pump, paving equipment, etc. The type of equipment required differs from project to project, excavator, loader are the most widely sold types of equipment. The enormous growth in the construction sector accompanied by economic growth in the developing countries has opened many opportunities for the construction equipment industry in the last 5 years. However, increasing property prices and loan interest rates are hindering the market growth significantly.

heavy construction equipment market

Governments around the world are offering subsidies and low-interest rates to the economically weaker section; for instance, The Government of India, launched ‘Pradhan Mantri Awas Yojana’ in May 2015, the scheme aims at providing affordable houses to the low-income group and subsidy for mid-income section. Such initiatives increase the demand for heavy construction equipment market. The housing renovation, remodeling is also a key application area of construction equipment. The trend for renovation is growing steadily in western countries, especially the U.S. Construction of roads, dams, bridges is on the rise in India, UAE, and South-East Asia. All such projects require various construction equipment, thus increases market growth significantly.

Type Overview

The construction equipment market has been segmented based on equipment type into earthmoving equipment, material handling equipment, heavy construction vehicles, and others (pavers/asphalt finishers/compactors and road rollers). Earthmoving machinery segment which includes excavators, and loaders, accounted for the largest market share in 2019. The Earthmoving machinery such as excavators, loaders have a huge demand across the globe owing to their multiple applications in areas such as mining, construction, demolition among others. The segment alone holds greater than 45% market share in the heavy construction machinery market. The excavator sales increased in China, in July 2020 the manufacturers sold over 19,110 excavators, a whopping growth of 54.8% from the previous month. The exports also grew by 32.5% in July 2020 to 2,857 excavators.

global heavy construction equipment market

The material handling segment in the construction industry includes dump trucks and various types of cranes. The crane’s segment is growing at a greater CAGR, Cranes are gaining significance in the last few decades as the demand for skyscrapers, bridges are increasing in metropolitan cities across the globe. Tower cranes are the most powerful cranes with capacity ranging up to 1800 metric tons, these machinery have greater significance in heavy industries such as dock shipping, ship & plane manufacturing, heavy metal industries, etc. The companies are also trying to strengthen mobile cranes capacity, for instance, Liebherr Group, the German crane manufacturing company launched the Liebherr LTM 11200-9.1 crane with 1,200 metric tons capacity & longest telescopic boom of 100 Meters.

Application Overview

The market has been segmented based on application type into excavation & demolition, heavy lifting, material handling, tunnelling, transportation, and recycling & waste management. excavation & demolition is the largest application segment accounting for greater than 30% market share in 2019. the material handling segment is rising exponentially since the last few years as the mining activities have increased substantially worldwide.

The tunneling equipment is gaining importance recently as the projects of underground trains have been launched by many governments around the world. The transportation application includes movement of construction-related materials such as bricks, cement, iron bars, tools from one destination to another, dump trucks are usually used in such applications. For instance, Bharat Earth Movers Limited (BEML) launched India’s first dump truck with 205-tonne capacity, these trucks shall be used in the project of Northern Coalfields Limited, Singrauli, India.

End-Use Insights

The market has been segmented based on the end-use type into Construction & Manufacturing, Oil & Gas, Public works & railroad, Infrastructure, Mining, Forestry & agriculture, and Others. The construction is the largest application segment for construction machineries such as excavators, loaders, mobile cranes, and concrete mixer trucks. The mining sector is expected to gain significance in the upcoming years, especially in South Africa and Latin America as the demand for metals and minerals mined from these countries is rising across the globe.

The demand for construction equipment has decreased in the oil & gas industry recently due to fluctuation in oil prices & a decrease in demand from western countries. Construction machinery used in forestry & agriculture includes excavators, trucks & cranes, the segment is expected to grow in the next 10 years substantially.

Regional Overview

The Asia-Pacific construction equipment market is anticipated to register a CAGR of 8.52% over the forecast period. The region holds greater than 40% construction equipment market share in 2019. There are some extreme construction projects happening in the Asia Pacific region, for instance, the South-to-North Water Diversion Project in China which is aimed to be completed by 2050, is the world’s largest construction project so far and shall require many types of construction equipment for completion of the project which will be either purchased or leased by the Chinese government. Therefore, the Chinese construction equipment market is poised to witness substantial growth in the next few years.

global heavy construction equipment market


The Middle East & Africa region is anticipated to emerge as the fastest-growing region between 2020-2027, as the construction of industrial & commercial buildings is rising in the region due to increasing foreign investment and supportive government policies & initiatives to promote regional growth.

Construction Equipment Market Share Insights

The construction equipment market was dominated by companies such as caterpillar, Komatsu, Hitachi heavy construction equipment, among others. The companies focus on developing new products and upgrading the existing models for grabbing greater market share. New companies entering this market focus on bringing technological innovation to establish themselves in this ever-growing market. High machinery and operation cost act as a key entry barrier for new companies entering this market. Following are key companies listed in this report:

  • Volvo Construction Equipment
  • CNH Industrial
  • Komatsu
  • Caterpillar
  • John Deere
  • Hitachi Construction Equipment
  • Liebherr

Report Details

Attribute Details
Base year for estimation 2019
Actual estimates/Historical data 2017 – 2019
Forecast period 2020 – 2027
Market representation Revenue in USD Billion & CAGR from 2020 to 2027
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, UK, Germany, France, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, UAE, and KSA
Report coverage Market size estimates and forecast, company market share analysis, competitive landscape, market dynamics, drivers, restraints, opportunities & challenges, qualitative analysis and trends
25% free customization scope (equivalent to 9 analysts working days) Do you have any additional requirements? We can incorporate the same at no extra cost.

Market Segmentation:

For the purpose of this report market research has segmented the global heavy construction equipment market based on equipment type, application, end-use, and the region as mentioned below:


Market Segmentation

  • Heavy Construction Equipment Type Insights
    • Earthmoving equipment
    • Material Handling Equipment
    • Heavy construction vehicles
    • Others (Pavers/Asphalt Finishers/Compactors and Road Rollers)
  • Heavy Construction Equipment Application Insights
    • Excavation & demolition
    • Heavy lifting
    • Material Handling
    • Tunneling
    • Transportation
    • Recycling & waste management
  • Heavy Construction Equipment End-Use Insights
    • Construction & manufacturing
    • Oil & gas
    • Public works & railroad
    • Infrastructure
    • Mining
    • Forestry & agriculture
    • Others
  • Heavy Construction Equipment Regional Insights
    • North America
      • The U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • UAE
      • KSA
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