Heavy-Duty Construction Equipment Market is Likely to Increase at a Significantly High CAGR during Forecast Period 2031 | ASTEC Industries Inc., Atlas Copco AB, CNH Industrial NV

Heavy-Duty Construction Equipment Market is growing with a modest growth rate all across the globe. As per the Bureau of Economic Analysis, the construction industry contributed $886.6 billion to the US economy in 2019 as compared to the previous year, which was around 4.1% of the GDP in both years. The global heavy-duty construction equipment market is projected to grow at a modest CAGR of 7.0% during the forecast period. The key aspect that drives the growth of the market includes the rapid growth in the construction industry, rising government schemes, investors, and investment in transport, energy, and housing projects across the globe.

Besides, a large number of infrastructural projects going across the globe, rapid urbanization, increased investments in the construction and manufacturing industries along with geographical expansion in emerging markets, owing to these factors, there has been increased adoption of heavy construction equipment which is significantly contributing to the growth of the market over the forecast period. Further, the key players also contribute to the market growth by providing a wide variety of equipment, specifically designed for each purpose, which makes the work easier, thereby, creating lucrative opportunities for the market growth over the forecast period.

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Heavy-Duty Construction Equipment Market Segmentation

By Machinery Type

Earth Moving Equipment
Cranes
Loader & Backhoe
Telescopic Handlers
Excavators
Others (Graders, Trencher)
Material Handling Equipment
Hoists
Conveyors
Forklifts
Others (Industrial Trucks)
Other Construction Equipment
Concrete Mixers
Road Rollers
Stone Crushers
Dumpers
Tippers & Trailers
Others (Slurry Seal Machines)
By Applications

Excavation & Demolition
Heavy Lifting
Handling
Transportation
Recycling & Waste Management
Others (Tunneling)
By Industry

Construction & Infrastructure
Manufacturing
Mining
Others (Oil & Gas)
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Regional Analysis

North America

United States
Canada
Europe

UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of APAC
Rest of the World

Company Profiles

ASTEC Industries Inc.
Atlas Copco AB
CNH Industrial NV
Doosan Heavy Industries & Construction Co., Ltd.
Guangxi LiuGong Machinery Co., Ltd.
Hitachi Construction Machinery Co. Ltd.
Hyundai Heavy IndustriesCo. Ltd.
JC Bamford Excavators Ltd.
JCB
Kobelco Construction Machinery Co. Ltd.
Metso Corp.
Sandvik Group
Sany Heavy Industry Co., Ltd
Sumitomo Heavy Industries Ltd.
The Manitowoc Co., Inc.
Volvo Group
Wirtgen Group
XCMG Group
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