Construction Equipment Aftermarket Market Size Projected To Reach $37.85 Billion By 2034 With A Cagr Of 7.1%

"The Construction Equipment Aftermarket Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Construction Equipment Aftermarket Market?
The Construction Equipment Aftermarket Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Construction Equipment Aftermarket Market?

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What Are the Different Construction Equipment Aftermarket Market Segments?
The construction equipment after market market covered in this report is segmented -

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

Subsegments:
1) By Earthmoving And Road Building Equipment: Excavators, Bulldozers, Backhoe Loaders, Graders, Skid Steer Loaders
2) By Material Handling And Cranes: Forklifts, Telehandlers, Tower Cranes, Mobile Cranes, Reach Stackers
3) By Concrete Equipment: Concrete Mixers, Concrete Pumps, Concrete Batching Plants, Concrete Finishing Equipment

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What Are the Primary Drivers Shaping the Construction Equipment Aftermarket Market?
The rise in construction activities is anticipated to boost the expansion of the construction equipment aftermarket in the future. Tasks and operations related to constructing, refurbishing, or developing structures, including buildings, infrastructure, and facilities, are referred to as construction activities. This rise creates a demand for aftermarket products of construction equipment such as parts of machinery and services like equipment maintenance and repairs for tools like excavators and bulldozers. As an instance, the Office for National Statistics, a UK-based Statistics Authority, reported in November 2023 that the new construction work's value in Great Britain hit a record peak of $179.53 billion in 2022. This is a surge of 15.8% compared to the previous year facilitated by an increment of $18.32 billion in private sector assignments and $5.085 billion in public sector undertakings. Besides, new construction orders raised by 11.4% to $109.13 billion, primarily propelled by gains in private infrastructure, commercial projects in private sectors, and diverse public non-housing sectors. Consequently, escalation in construction activities fuels the expansion of the construction equipment aftermarket.

Which Companies Are Leading in the Construction Equipment Aftermarket Market?
Major companies operating 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., Hitachi Construction Machinery Co Ltd., JLG Industries Inc., Zoomlion Heavy Industry Science and Technology Co Ltd., Sany Heavy Industry Co Ltd., SANY Group Co. Ltd., Tere*x Corporation, Guangxi Liugong Machinery Co. Ltd., Xuzhou Construction Machinery Group Co Ltd, Manitou Group, Palfinger AG, The Manitowoc Company Inc., Takeuchi Mfg. Co. Ltd., Tadano Ltd., Ammann Group, Bell Equipment Ltd., Hidromek Inc., Kobelco Construction Machinery Co Ltd., Doosan Infracore Co. Ltd., XGMA Machinery Co. Ltd., BOMAG GmbH, Hyundai Construction Equipment Co. Ltd., LiuGong Machinery Corp.

What Are the Major Trends Shaping the Construction Equipment Aftermarket Market?
Key players in the construction equipment aftermarket are increasingly concentrating on creating innovative solutions such as advanced up-tower crane technology. This technology generally signifies the high-level and specialized crane systems utilized for the construction and maintenance of wind turbines. For example, LiftWerx, a Canadian provider of lifting equipment, announced the introduction of 'GenHook' crane system technology in August 2023. This up-tower crane technology was employed to fit a gearbox into a wind turbine. Being fully electric, it maintains a carbon emission that is 75% less than traditional cranes, largely due to the reduced reliance on trucks for its deployment.

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What Are the Top Revenue-Generating Geographies in the Construction Equipment Aftermarket Market?
Asia-Pacific was the largest region in the construction equipment aftermarket in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction equipment aftermarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Construction Equipment Aftermarket Market?
2. What is the CAGR expected in the Construction Equipment Aftermarket Market?
3. What Are the Key Innovations Transforming the Construction Equipment Aftermarket Industry?
4. Which Region Is Leading the Construction Equipment Aftermarket Market?

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