By 2032, Heavy Construction Equipment Market reaches $289.24 Billion with 4.40% CAGR

Heavy Construction Equipment Market Size Worth $298.24 Billion By 2032 | CAGR: 4.40%


The global heavy construction equipment market size is expected to reach USD 298.24 billion by 2032, according to a new study by Polaris Market Research. The report “Heavy Construction Equipment Market Share, Size, Trends, Industry Analysis Report, By Type (Earthmoving Equipment, Heavy Construction Vehicles, Material Handling Equipment, and Others); By Application; By End-User; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The heavy construction equipment is impacted by top factors such as the recovery of the construction sector, increase in public and private partnerships, growth in urbanization, and Eurozone economic uncertainty and stringent government regulations. The heavy construction equipment market is expected to experience growth due to an increase in infrastructural development projects, as these play a vital role in digging, paving, grading, and trenching.

Moreover, utilizing modern, fuel-efficient construction equipment can lead to a reduction in the operational expenses of large-scale construction ventures. Anticipations suggest a substantial upswing in the heavy construction equipment market's growth in the coming years. This surge is attributed to the extensive incorporation of such equipment in tasks related to earth moving, mining, and material handling. Additionally, the augmented utilization of these machines in the private sector, robust expansion within the real estate domain, enhanced economic landscapes, and a surge in both residential and commercial infrastructure projects in emerging economies are bolstering market expansion.

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The infrastructure development in various regions results in a heavy inflow of foreign investments, which substantially boosts the demand for heavy construction equipment in the region. In addition, public–private partnership is a concept wherein the government and private sector companies enter into a partnership deal. Thus, an increase in the number of partnerships in the region has led to heavy investment in the private sector for infrastructural developments, which in turn is expected to boost the growth of the heavy construction equipment market.

Heavy Construction Equipment Market Report Highlights

  • Material handling equipment segment is expected to grow at a highest CAGR during the projected period, on account of increasing mining activites
  • Excavation & demolition segment accounted for largest market share in 2022, which is mainly driven by cost-effectiveness, higher performance, and flexibility
  • Infrastructure segment held the significant market revenue share in 2022, mainly due to better fuel efficiency, and low operating costs
  • Asia Pacific region dominated the market with majority share in 2022, owing to exponential growth in the technology and rising R&D investments across emerging economies
  • The global key market players include Caterpillar Inc, Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd, Deere & Company, Volvo Group

Polaris Market Research has segmented the heavy construction equipment market report based on type, application, end-user, and region:

Heavy Construction Equipment, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Earthmoving Equipment
  • Heavy Construction Vehicles
  • Material Handling Equipment
  • Others

Heavy Construction Equipment, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Excavation & demolition
  • Tunneling
  • Heavy Lifting
  • Recycling & Waste Management
  • Material Handling

Heavy Construction Equipment, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Mining
  • Infrastructure
  • Construction
  • Oil & Gas
  • Manufacturing
  • Others

Heavy Construction Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

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

Heavy Construction Equipment Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 211.33 billion

Revenue forecast in 2032

USD 298.24 billion

CAGR

4.40% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Type, By Application, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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