The Construction Equipment Market is projected to grow at a CAGR of 4.52% during the forecast period, to reach a market size of USD 199.18 Billion by 2025 from an estimated size of USD 146.17 Billion in 2018. The upcoming infrastructural projects and increased government spending have led to an increase in construction activities. Additionally, with the advancements in technology, the equipment has become more fuel-efficient with lower emission levels and have enhanced safety and better handling features.
Road roller is the fastest growing equipment in the construction equipment market by equipment type. Its increasing use can be attributed to the increasing need for roads in developing countries such as India and China along with major road development projects such as China–Pakistan Economic Corridor (CPEC), which aims to connect China with Central Asia and create a modern silk route.
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The tier-5 emission regulation engines are projected to have the largest construction equipment market share, by emission regulation, of construction equipment by 2025. The countries in North America such as Canada, the US, and Mexico are speculated to have enforced these regulations by 2025. Additionally, it is speculated that Japan will also follow these regulations once they are in effect.
The earthmoving equipment category is the largest segment of the market, by equipment category. A majority of construction equipment are used to carry, dig, spread, or move earth or materials. The material-handling equipment category is the fastest-growing segment as this equipment provide protection for materials, goods, and products in the process of manufacturing, distribution, consumption, and disposal.
Selective Catalytic Reduction (SCR) is projected to be the largest segment of the construction equipment market by aftertreatment devices. This is due to the stringent emission regulations that are speculated to be implemented in the Asia Pacific region.
Construction equipment that use alternate fuels such as CNG, LNG, and RNG are projected to grow at the fastest rate during the forecast period. As these fuels reduce emissions by 25–40% compared with diesel, their use as primary fuels in construction equipment is projected to increase significantly.
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Construction equipment with 200–400 hp power output are projected to be the fastest-growing segment. The construction equipment market for this equipment in Asia Oceania is expected to grow at a faster rate as the requirement for infrastructure development in developing economies such as China and India is growing steadily. With the increasing government spending, these markets are expected to have higher growth.
Key Players:
Major players in the Construction Equipment Market are Caterpillar (US), Volvo Construction Equipment (Sweden), CNH Industrial (the Netherlands), Komatsu (Japan), John Deere (US), Liebherr (Switzerland), Terex (the US), Hitachi Construction Equipment (Japan), JCB (the UK), and Zoomlion (China).
Target Audience
Construction equipment manufacturers
Investment and equity research firms
Private equity firms
Aftertreatment device manufacturers
Engine manufacturers
Construction equipment dealers
Rental equipment providers
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