Press release
Construction Equipment Aftermarket Market: Soaring at a CAGR of 7.0%, Powered by Booming Construction Activities and Technological Advancements
Construction Equipment Aftermarket Market Size
What Is The Projected Market Size Of The Global Construction Equipment Aftermarket Market And Its Growth Rate?
The construction equipment aftermarket market is witnessing significant growth due to various developments and trends:
•Growth from $26.87 billion in 2024 to $28.75 billion in 2025 at a CAGR of 7.0%.
•Expected to reach $37.85 billion in 2029 at a CAGR of 7.1%.
What Is Driving The Growth In The Construction Equipment Aftermarket Market?
The rise in construction activities, particularly in the private and public sectors, is a key driver for the growth of the construction equipment aftermarket market. For instance, in 2022, new construction work in Great Britain hit a record high of $179.53 billion, a 15.8% increase from the year before, fuelled mainly by private sector initiatives and public non-housing sectors. This increased demand for construction equipment aftermarket products like parts of machinery, equipment maintenance and repairs for excavators and bulldozers.
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Who Are the Key Players Driving Construction Equipment Aftermarket Market Growth?
Noteworthy companies in the construction equipment aftermarket market include:
•Caterpillar Inc.
•Komatsu Ltd.
•CNH Industrial N.V.
•Atlas Copco Group
•Liebherr Group
•XCMG Group
•John Deere Construction & Forestry
•Volvo Construction Equipment Corp.
•Yanmar Co. Ltd.
What Are The Key Trends In The Construction Equipment Aftermarket Market?
Prevailing trends in the construction equipment aftermarket market include:
•3D printing for aftermarket parts
•Remote monitoring and diagnostics
•E-commerce platforms for aftermarket sales
•Circular economy practices
•Augmented Reality (AR) for maintenance training
What Are The Segments Of The Global Construction Equipment Aftermarket Market?
The construction equipment aftermarket market can be segmented into:
1) By Equipment Type: Earthmoving And Road Building Equipment, Material Handling And Cranes, Concrete Equipment
2) By Application: Infrastructure, Residential, Commercial
3) By Sales Channel: Online, Offline
Which Region Leads The Construction Equipment Aftermarket Market?
In 2024, Asia-Pacific was the largest and the fastest-growing region in the construction equipment aftermarket market. Other regions covered in the report are Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Construction Equipment Aftermarket Market Global Market Report?
- Market Size Analysis: Analyze the Construction Equipment Aftermarket Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Construction Equipment Aftermarket Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Construction Equipment Aftermarket Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Construction Equipment Aftermarket Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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