Global Construction Equipment Market Projected CAGR of 4.15% By 2030, Driven by Rise in Smart Cities and Adoption of Automation

Mordor Intelligence has published a new report on the Construction Equipment Market, offering a comprehensive analysis of trends, growth drivers, and future projections.



The Construction Equipment Market is projected to grow at a CAGR exceeding 6% during the forecast period (2025-2030). The rise in smart city projects, the expansion of road networks, and the adoption of automated and electric construction machinery are key factors driving this market forward.

Report Overview - https://www.mordorintelligence.com/industry-reports/construction-equipment-market



Key Trends Driving Market Growth

1. Surge in Infrastructure Development Across the Globe

Governments worldwide are prioritizing infrastructure growth to boost economic development. Countries such as China, the United States, and India are making significant investments in highways, bridges, airports, and urban development projects.

2. Increasing Adoption of Automation and Smart Technologies

Technological advancements, including automation, IoT (Internet of Things), AI (Artificial Intelligence), and telematics, are revolutionizing the construction equipment sector.

Autonomous construction vehicles improve safety and efficiency on job sites.

Telematics solutions allow remote monitoring of equipment health, reducing downtime and maintenance costs.

Electric and hybrid-powered machinery is gaining traction as companies focus on reducing carbon emissions and fuel costs.

3. Growth in Equipment Rental Services

The rising cost of construction machinery and economic uncertainties have led many companies to opt for rental services rather than purchasing equipment outright.

The construction equipment rental market is expected to reach USD 179.21 billion by 2030, growing at a CAGR of 4.85%. Renting allows businesses to access the latest technology without long-term financial commitments.

4. Rising Demand for Sustainable and Energy-Efficient Equipment

Governments worldwide are enforcing strict emission regulations to promote the adoption of fuel-efficient and electric construction equipment. Companies are increasingly investing in green technologies, such as battery-electric construction vehicles, to comply with environmental standards.

For example, Volvo Construction Equipment has already introduced a range of electric excavators and wheel loaders, aiming for zero-emission job sites.



Market Segmentation

The construction equipment market is categorized based on equipment type, drive type, and geography.

By Equipment Type:

Cranes - Used for lifting heavy materials and equipment at construction sites.

Excavators - Essential for digging, trenching, and material handling.

Loaders and Backhoes - Multi-functional machines used in urban and rural construction projects.

Bulldozers - Commonly used for land clearing and grading.

Motor Graders - Critical for road construction and land leveling.

Dump Trucks - Transport materials such as gravel, sand, and demolition debris.

Other Equipment - Includes trenchers, compactors, and concrete mixers.

By Drive Type:

Hydraulic-Driven Equipment - Traditional systems using hydraulic power.

Electric and Hybrid Construction Equipment - Low-emission alternatives gaining traction due to environmental concerns.

By Geography:

North America - Led by the U.S. and Canada, with significant infrastructure spending.

Europe - Strong demand driven by sustainability initiatives and smart city projects.

Asia-Pacific - Fastest-growing region, driven by rapid urbanization in China, India, and Southeast Asia.

Rest of the World (RoW) - Emerging markets investing in energy, road, and housing infrastructure.



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Key Players in the Market

The construction equipment market is highly competitive, with major companies focusing on innovation and expanding their global footprint.

1. Caterpillar Inc.

One of the largest construction equipment manufacturers, Caterpillar offers a wide range of heavy machinery, including excavators, loaders, and bulldozers. The company is investing in autonomous technology and electric-powered machinery to meet future demands.

2. Komatsu Ltd.

Komatsu is a leader in smart construction solutions, integrating IoT, AI, and hybrid technology into its equipment. The company is expanding its product line to include more sustainable and energy-efficient machines.

3. Volvo Construction Equipment

Volvo is at the forefront of electrification in the construction sector. The company has developed a series of electric compact excavators and wheel loaders, aiming for zero-emission construction sites.

4. Hitachi Construction Machinery Co., Ltd.

Hitachi is known for its high-performance hydraulic excavators and smart mining equipment. The company is actively investing in automation and remote monitoring solutions.

5. Liebherr-International AG

Liebherr specializes in tower cranes, earthmoving equipment, and mining solutions. The company is focusing on hybrid-powered and fuel-efficient machinery to comply with evolving industry standards.

These companies are continuously investing in research and development to introduce next-generation construction equipment that enhances productivity, efficiency, and sustainability.



Conclusion

The global construction equipment market is poised for steady growth, driven by urban expansion, government infrastructure investments, and technological advancements. The rise of automation, electrification, and telematics solutions is transforming the industry, making equipment more efficient, cost-effective, and environmentally friendly.

Industry Related Reports

Canada Construction Equipment Market: The Canada Construction Equipment Market is categorized by equipment type, including Cranes, Telescopic Handlers, Excavators, Loaders and Backhoes, Motor Graders, and other machinery types. It is also segmented by drive type, which includes Internal Combustion Engine, Electric, and Hybrid. The report provides the market size and forecasts in terms of value (USD) for each of these segments.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/canada-construction-equipment-market

India Construction Equipment Market: The India Construction Equipment Market is categorized by equipment type, including Earthmoving and Road Construction Equipment, Material Handling Equipment, Concrete Equipment, and Material Processing Equipment. It is also segmented by drive type, which includes Hydraulic and Electric/Hybrid.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/india-construction-equipment-market

Australia Construction Machinery Market: The report analyzes the Australian Construction Machinery Market Share and segments it by application type and machinery type. By application type, the market is categorized into Material Handling, Earth Moving, and Transportation. By machinery type, the segmentation includes Hydraulic Excavators, Wheel Loaders, Crawler Trucks, Dump Trucks, and Motor Graders.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/australia-construction-machinery-market

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