Construction Machinery Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis

The Construction Machinery 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 Current Construction Machinery Market Size and Its Estimated Growth Rate?
In recent times, there has been a robust growth in the construction machinery market. The projection indicates a rise from $335.02 billion in 2024 to $366.89 billion in 2025, yielding a compound annual growth rate (CAGR) of 9.5%. Factors such as healthy economic expansion in developing markets, low-interest rate scenarios, and government support initiatives are behind the growth observed in the historical period.

The value of the construction machinery market is anticipated to experience robust growth in the upcoming years, ballooning to $500.64 billion by 2029, following a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this growth in the prediction period include an upsurge in infrastructure investments, an expanding global construction sector, growing urbanization, and a surging global population. Key market trends predicted for the period include the emergence of robotic excavators, a leaning towards electric construction equipment, adoption of the Internet of Things (IoT), product innovations, advances in technology, and numerous strategic alliances and collaborations.

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How Are Emerging Segments Shaping the Construction Machinery Market Landscape?
The construction machinery market covered in this report is segmented -

1) By Product: Earthmoving, Material Handling, Building And Road Construction Equipment
2) By Application: Excavation And mining, Lifting And material handling, Earth moving, Transportation, Other Applications
3) By End User: Oil And Gas, Construction And Infrastructure, Manufacturing, Mining, Other End Users

Subsegments:
1) By Earthmoving Equipment: Excavators, Bulldozers, Backhoe Loaders, Skid Steer Loaders, Graders, Trenchers
2) By Material Handling Equipment: Forklifts, Cranes, Telehandlers, Hoists, Conveyors, Pallet Jacks
3) By Building And Road Construction Equipment: Concrete Mixers, Pavers, Compactors, Asphalt Mixing Plants, Road Rollers, Scaffolding Systems

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Which Growth Factors Are Influencing Construction Machinery Market Expansion?
There is an anticipation of growth in the construction machinery market spurred by an increase in construction expenditure. Construction spending encompasses the total costs incurred on construction activities such as labor, materials, and engineering work over a specific time span. With an upsurge in construction investments, there are enhanced revenue opportunities for construction firms, stimulating new demand for construction services, machinery, and supplies. For example, data from the US Census Bureau, a government entity in the US, indicated that construction expenditure in the US reached an estimated $1,983.5 billion in August 2023, marking a 0.5% increase from the revised figure of $1,973.7 billion in July. Therefore, the surge in construction spending is a significant contributor to the expansion of the construction machinery market.

Who Are the Dominant Players Across Different Construction Machinery Market Segments?
Major companies operating in the construction machinery market include Caterpillar Inc., Komatsu Ltd., Volvo AB, Zoomlion Heavy Industry Science and Technology Co., Ltd., Hitachi, Ltd., Deere & Company, EXOR Group, Sany Heavy Industry Co., Ltd, Xuzhou Construction Machinery Group Co., Ltd, Liebherr Group, Action Construction Equipment, PT United Tractors Tbk, LiuGong Machinery Co. Ltd., Shantui Construction Machinery Co. Ltd., Hitachi Construction Machinery UK, JCB UK, CIFA, Chelyabinsk Mechanical Plant, Truststroy, Zavod UralTrakGrupp, Bell Equipment, Bobcat, AGI Industries, Ashland Industries, ASV Holdings, Inc., Built Robotics, Inc., Cyngn, Royal, Lovol Heavy Industry, Randon, SotreqGrupo, Bom Jesus, Saudi Binladin Group, Shikun and Binui, TAV Insaat Taahhut A.S., Babcock International, Goscor Earthmoving Equipment, Mantrac Group, C.Woermann Nigeria Limited, Orascom Construction PLC, Kanu Equipment

What Are the Latest Developing Trends in the Construction Machinery Market?
Key players in the construction machinery market are introducing innovative solutions like mini excavators in an effort to deliver superior services. Mini excavators, being compact and small construction equipment, are effective for excavation and digging activities in confined spaces. They have a multifaceted utility, suitable for a range of tasks. Taking the example of Komatsu Europe International N.V., a Belgium-based manufacturer of heavy-duty construction equipment. In July 2023, it launched PC33E-6, a type of mini excavator. This machine is powered by a 35kWh lithium-ion battery, ensuring long-lasting performance and highly efficient operation, allowing majority of users to complete a day's work without recharging. Additionally, its short-tail design and a 17.4 kW motor installation make the PC33E-6 a perfect fit for urban areas or constrained spaces. The excavator's robust, safeguarded electric parts assure its durability and dependability in construction undertakings.

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Which Geographic Regions Are Expected to Dominate the Construction Machinery Market in the Coming Years?
Asia-Pacific was the largest region in the construction machinery market in 2024. Western Europe was the second-largest region in the global construction machinery market share. The regions covered in the construction machinery market 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 Machinery Market?
2. What is the CAGR expected in the Construction Machinery Market?
3. What Are the Key Innovations Transforming the Construction Machinery Industry?
4. Which Region Is Leading the Construction Machinery Market?

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