Earthmoving Equipment Market Size Worth USD 121.69 Billion by 2034 | CAGR: 5.7%

The global earthmoving equipment market size is expected to reach USD 121.69 billion by 2034, according to a new study by Polaris Market Research. The report “Earthmoving Equipment Market Size, Share, Trends, Industry Analysis Report: By Product (Dozer, Excavator, Loader, Motor Grader, Dump Truck, Backhoe, Compaction Equipment, and Others), Propulsion, Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The earthmoving equipment encompasses a wide range of machinery designed to perform tasks such as excavation, grading, loading, and material handling. A few examples of the equipment are dozers, excavators, loaders, backhoes, scrapers, and motor graders. These machines are crucial for large-scale infrastructure projects, including roads, bridges, dams, and urban development, as well as mining operations that require efficient extraction and transportation of raw materials. The earthmoving equipment market growth is driven by increasing urbanization, industrialization, and government investments in infrastructure across both developed and developing economies. The market is also influenced by factors such as economic cycles, technological advancements, environmental regulations, and shifts in demand for raw materials.

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The ongoing surge in infrastructure development worldwide is propelling the earthmoving equipment market demand. Governments and private entities are investing heavily in constructing and upgrading critical infrastructure such as highways, railways, airports, ports, and energy facilities to support economic activities and enhance living standards, all of which require earthmoving equipment. The rapid advancement of technology and the adoption of automation are further enhancing the productivity of earthmoving equipment, thereby boosting their adoption.  

Earthmoving Equipment Market Report Highlights

• In terms of product, the loader segment led the earthmoving equipment market share in 2024 due to its versatility, efficiency, and wide range of applications across construction, mining, and infrastructure development.
• The dump truck segment is projected to grow at a robust pace in the coming years, owing to a surge in large-scale mining activities, road construction projects, and the expansion of logistics infrastructure worldwide.
• Based on application, the construction segment dominated the market share in 2024 due to rapid urbanization, infrastructure development, and increasing residential and commercial projects worldwide.
• Asia Pacific held the largest share of the earthmoving equipment market revenue in 2024 due to massive investments in infrastructure development, rapid urbanization, and expanding industrial activity.
• The market in the Middle East & Africa is estimated to grow at a rapid pace during the forecast period. Countries such as Saudi Arabia and the UAE are continuously investing heavily in large-scale construction and mining projects, thereby propelling demand for earthmoving equipment.
• A few of the global key market players are AB Volvo; Bobcat Company; Caterpillar; CNH Industrial N.V.; Deere & Company; Doosan Corporation; Hitachi Construction Machinery Co., Ltd.; Hyundai Construction Equipment Co., Ltd.; J C Bamford Excavators Ltd.; Kobelco Construction Machinery Co. Ltd; Komatsu Ltd.; LIEBHERR; SANY Group; Sumitomo Heavy Industries, Ltd.; Terex Corporation; and XCMG Group.

Polaris Market Research has segmented the earthmoving equipment market report on the basis of product, propulsion, application, and region:

By Product Outlook (Revenue, USD Billion, 2020–2034)

• Dozer
• Excavator
• Loader
• Motor Grader
• Dump Truck
• Backhoe
• Compaction Equipment
• Others

By Propulsion Outlook (Revenue, USD Billion, 2020–2034)

• ICE
• Electric
• Hybrid

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Construction
• Underground Mining
• Surface Mining
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America