Press release
Compact Construction Equipment Market Size & Forecast Report 2032
Compact Construction Equipment Market
The Compact Construction Equipment market size [https://www.marketsandmarkets.com/Market-Reports/compact-construction-equipment-market-89115103.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=compact-construction-equipment-market] is projected to grow from USD 39.52 billion in 2025 to USD 56.05 billion by 2032, at a CAGR of 5.1%.
The compact construction equipment industry is expanding in North America due to increased regional residential and infrastructure spending, population expansion, and rising disposable income. Technological advancements in compact construction equipment, such as automation and telematics integration, will increase productivity, increasing the demand for new and advanced compact construction equipment.
"Mini Excavators will account for the largest share of compact construction equipment in 2025."
Mini excavators are estimated to have the largest market share in the global compact construction equipment market in terms of value. Asia has a strong demand for mini excavators due the equipment's ability to operate in diverse terrains and handle heavy loads, making them ideal for excavation, grading, and demolition tasks. Almost all construction equipment manufacturers offer mini excavators, and all manufacturers offer a variety of models in the product portfolios for this equipment. Kubota Corporation (Japan), Kobelco (Japan), and Caterpillar (US) lead the global market for Mini Excavators. Mini excavators offered by these companies fall in HP ranges from 20 HP to 70 HP. These lower power output equipment's have major applications in residential sector. Mini excavators falling under this category have benefits such as low operating costs, better fuel efficiency, improved maneuverability and they are easy to control. Mini Excavators are also leading the shift to electrification. The majority of the OEMs developing electric-propelled equipment offer electric excavators. Industry experts say
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"61-100 HP power output compact construction equipment to register the fastest growth during the forecast period."
61-100 HP power output equipment is estimated to experience the fastest growth rate in the compact construction equipment market by power output. Skid Steers, backhoe loaders, and compact track loaders will dominate the market in this segment. This power output range is preferred in construction equipment because it can meet high torque and power demands. The demand for this range of equipment is particularly strong in Asian countries, driven by large-scale infrastructural development projects like roads, commercial complexes, and smart city projects. The major players in this category include JCB (UK), CNH Industrial (UK), Caterpillar (US), and Deere & Company (US). Recent developments in this segment include Kubota Corporation launching the SVL97-4 Compact Track loader in January 2025 and Deere & Company launching the 335 P-tier compact track loader in June 2024.
North America is estimated to be the largest compact construction equipment market.
North America is expected to be the largest market for compact construction equipment in the coming years. The rise in residential construction spending drives the growth of the compact construction equipment market in the region. The US is the major market in North America for compact construction equipment. As the population grows, there is a higher demand for new housing, boosting the need for construction equipment. In December 2024, the US approved 1.48 million building permits and completed 1.54 million housing units, with residential construction increasing by 2.6% from December 2023. The return of the Trump administration in the United States can have several significant impacts on the construction equipment market in the region. One of the key promises of Trump's previous administration was a major push for infrastructure development, including roads construction, reconstruction of bridges and airports. The previous trump government also focused on imposing lower taxes on businesses and a more pro-business environment, which could lead to increased investments in both public and private infrastructure, creating demand for construction equipment. The negative factors from the new government maybe, Trump's previous administration-imposed tariffs on a variety of products, including steel and aluminium, a similar return to these types of trade policies is expected, which will increase the costs of raw materials used in construction equipment manufacturing, such as steel and copper.
The Canadian construction equipment market is also expected to grow during the forecast period. In Canada, building construction investment grew by 2.8% to USD 21.4 billion in June 2024, and year-on-year investments rose by 10%. Mexico's construction output also grew by 12.57% in June 2023 compared to the previous year. Hence, with the growing investments in the residential sector and the presence of major manufacturers like Caterpillar and Deere & Company in the region, the demand for compact construction equipment is estimated to be the highest.
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