Impact of COVID-19 on Global Construction Equipment Industry Growth, Size, Share and Forecast 2019-2025

The construction equipment industry includes Excavators, Backhoe, Bulldozers, Graders, Loaders and so others. Some of the major factors for the growth of the construction equipment industry before pandemic include the continuous growth in infrastructural sector, rising adoption of construction equipment for building constructions in developing economies and growth in the construction of high rise buildings. Considerable investment by the government in transport, energy and housing projects is also augmenting the demand for construction equipment all across the globe.

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Due to the COVID-19 pandemic, one of the most affected sectors is building & construction. Numerous countries have been lockdown and most of the construction activities have been halted. Construction sites have to face the lack of workers due to pandemic. Moreover, the government of many countries is providing billion as relief packages, which results raise in the debt of the respective countries. In a couple of years to balance their debt, the government could allocate fewer funds to infrastructure development projects which will indirectly impact the demand for construction equipment.

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The global construction equipment industry report is segmented based on earthmoving equipment, material-handling equipment, heavy construction equipment vehicles, and other equipment. The earthmoving equipment segment is expected to get affected significantly due to the COVID-19 pandemic. The effect of COVID-19 on the construction equipment industry can be observed in all the regions including North America, Europe, Asia-Pacific, and Rest of the World. The US and the European countries are most affected due to the COVID-19 pandemic. Around 400,000 confirmed cases in the US and around 670,000 cases in Europe have been registered so far. Due to which construction and its equipment industry are expected to get affected significantly in both regions.

Major companies affected due to COVID-19 in the construction equipment industry include Caterpillar, Inc., Liebherr-International AG, Mitsubishi Corp., Joseph Cyril Bamford Excavators Ltd., Komatsu Ltd., Volvo CE, CNH Industrial N.V., and others. Due to the lockdown and lower demand, the companies have to temporarily shut down their manufacturing units all across the globe. For instance, Hitachi Construction Machinery Group announced to reschedule the production at its four Japanese plants in April and May due to lower demands. On 5th February 2020, CNH Industrial shut down its 28 out of 30 European assembly plants for two weeks due to supply chain constraints. In March 2020, JCB also shut down its manufacturing plant in UK for two weeks.

Verticals Affected Most

Earthmoving Equipment
Material-Handling Equipment
Heavy Construction Equipment Vehicles
Other Equipment

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Impact of COVID-19 on Global Construction Equipment Industry- Segment by Region

North America

United States
Canada

Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Company Profiles

Caterpillar, Inc.
CNH Industrial N.V.
Doosan Infracore Co., Ltd.
Hitachi Construction Equipment Machinery Co., Ltd.
Hyundai Construction Equipment Co., Ltd.
John Deere Co.
Joseph Cyril Bamford Excavators Ltd.
Komatsu Ltd.
Liebherr-International AG
Mitsubishi Corp.
Sany Heavy Industry Co., Ltd.
Terex Corp.
The Escorts Ltd.
Toyota Industries Corp.
Volvo CE
XCMG Group

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