Construction equipment

Heavy Construction Equipment Market 2022 Growth Statistics, Growth Drivers, Size & Forecast To 2030

New York (USA):- The global heavy construction equipment market is valued at around USD 170.35 billion in 2021 and is expected to grow with a healthy growth rate of over 7.0% over the forecast period 2022 -2028.

Heavy construction equipment is mainly adopted to perform heavy operation tasks such as excavation lifting, material handling and other heavy operations. The equipment facilitates the transportation of objects faster, reduces the need for huge manpower, and improves the efficiency of the large-scale enterprise. Heavy construction equipment is gaining popularity in public works and railroads, infrastructure, construction and manufacturing, mining, forestry and agriculture, oil and gas and many other industry segments. end use. Growing investments in the construction industry, rapid urbanization, growing demand for heavy construction equipment mainly from developing countries, coupled with rapid technological developments are the major factors increasing the market demand across the world.

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For example, according to news released by Global Construction 2030, the volume of construction production is expected to increase by 85% and reach $15.5 trillion globally by 2030. This development is mainly driven by three nations, China, India and the United States which contribute with 57% share for the development of the construction industry in the world. However, the high cost of equipment and the shortage of skilled labor, along with issues in the maintenance and repair of equipment are hampering the growth of the market during the forecast period 2022-2028. In addition, equipment rental or leasing and agreements and contracts, joint ventures and mergers and acquisitions between major companies are expected to act as a driving factor for market demand during the forecast period.

Key regions considered for the global heavy construction equipment market study include Asia-Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading region in the world in terms of market share due to the exponential growth of the construction sector, as well as increasing industrialization and urbanization. While the Middle East and Africa is expected to show a significant CAGR during the forecast period 2022-2028. Factors such as increasing disposable income along with investments in new building construction and renovation activities would create lucrative growth prospects for the heavy construction equipment market in the region.

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The major market players included in this report are:

  • Caterpillar inc.
  • Liebherr AG
  • Terex Company
  • Volvo Construction Equipment AB
  • Komatsu Limited
  • Doosan Infracoe
  • Hitachi Machinery Construction Co., Ltd.
  • JCB
  • Sany Heavy Industry Co., Ltd.
  • CNH Industrial AG

The objective of the study is to define the market size of different segments and countries in recent years and to forecast the values ​​to the next eight years. The report is designed to incorporate qualitative and quantitative aspects of the industry in each of the regions and countries involved in the study. Furthermore, the report also provides detailed information about the crucial aspects such as driving factors and challenges which will define the future growth of the market. Additionally, the report should also incorporate the opportunities available in the micro markets for stakeholders to invest in, along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

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By type

earthmoving equipment

Handling equipment

Heavy construction vehicles

Others

By request

Excavation & demolition

Lifting heavy loads

Material handling

dig a tunnel

Transportation

Recycling and waste management

By end-use sector

Construction and manufacturing

petroleum gas

Public works & railway

Infrastructure

Mining

Forestry and agriculture

Others

By region:

North America

WE

Canada

Europe

UK

Germany

France

Spain

Italy

DEER

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the world

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