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Heavy Construction Equipment Market, Size, Segment and Growth by Forecast Period: (2021-2031)

07-17-2025 03:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Business Market Insights

Heavy Construction Equipment Market

Heavy Construction Equipment Market

The Heavy Construction Equipment Market size is expected to reach US$ 338.06 billion by 2031 from US$ 224.15 billion in 2024. The market is estimated to record a CAGR of 6.16% from 2025 to 2031.

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Executive Summary and Global Market Analysis:

Heavy construction equipment refers to large machinery and vehicles used in construction projects to carry out tasks such as excavation, lifting, material handling, and demolition. These machines are essential for large-scale construction and civil engineering projects, providing efficiency and productivity on job sites. The increasing government funding projects in transportation, renewable energy, and public infrastructure sectors across developing countries such as India, Mexico, and Brazil drive the demand for heavy construction equipment. According to the World Bank, per year, more than US$ 3.7 trillion is invested in infrastructure development to meet the growing demand of growing global populations. The rise in global investments in the clean energy sector is also a major driving factor for the heavy construction equipment market. According to the International Energy Agency, more than US$ 3 trillion invested in 2024 for clean energy related infrastructure developments across the globe.

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Heavy Construction Equipment Market Segmentation Analysis

Key segments that contributed to the derivation of the Heavy Construction Equipment market analysis are type and application.

By machinery type, the heavy construction equipment market is segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, others. The earthmoving equipment segment held a larger share of the market in 2024.

In terms of propulsion type, the market is segmented into ICE, electric. The ICE segment held the largest share of the market in 2024.

In terms of power output, the market is segmented into less than 100 HP, 101-200 HP, 201-400, 401 HP. The 201-400 HP segment held the largest share of the market in 2024

By End Use Industry, the market is segmented into building and construction, forestry and agriculture, energy and power, mining, others. building and construction segment held the largest share of the market in 2024.

Heavy Construction Equipment Market Drivers and Opportunities:

Rise in Investment in Construction Industry Worldwide

The construction industry is growing rapidly in various countries across the globe, with a rise in government investments and an increase in demand for various construction projects. Countries such as the US, China, Mexico, Brazil, and India have the most significant construction businesses in the world. According to the Associated General Contractors of America (AGC), the US construction industry is growing with an investment of ~US$ 1.4 trillion per year. A surge in construction activities in the country, along with the increasing population and the proliferating commercial sector, drives the heavy construction equipment market growth. The global demand for the long-term construction sector is growing rapidly owing to the increasing government investment in infrastructure development. For instance, ~US$ 1.2 trillion in funding was passed by the Bipartisan Infrastructure Law in the US, and US$ 828.8 billion was passed by the EU infrastructure development fund in Europe.

In Asia Pacific, the rising population is putting a strain on current infrastructure, highlighting the need for the development of new rail networks, residential structures, and roadways. The construction industry in Asia Pacific was valued at US$ 4.36 trillion in 2022, which represents 45% of the overall global construction industry. The investment is mostly in countries such as India, Japan, Australia, Singapore, Malaysia, and China. The governments and regulatory bodies in countries in this region are focusing on additional infrastructure investments which is proliferating the demand for heavy construction equipment.

Heavy Construction Equipment Market Size and Share Analysis

Based on type, the global heavy construction equipment market is bifurcated into earthmoving equipment, material handling equipment, heavy construction vehicles, others. The earthmoving equipment segment registered a larger market share in 2024 and is expected to dominate during the forecast period. Earthmoving equipment include excavators, bulldozers, backhoe loaders, and wheel loaders. The increasing investment in infrastructure development projects worldwide is a major driving factor for this segmental growth. Germany's Federal Transport Infrastructure Plan 2030 includes an investment of US$ 280.68 billion between 2016 and 2030 on transportation-related infrastructure. Also, the German government committed US$ 59.34 billion for the green infrastructure projects in 2024. Such an increase in the investment for infrastructure development is a major driving factor for the earth moving equipment market. Several major players in the market are launching advanced electric earthmoving equipment. For instance, in September 2024, Volvo Construction Equipment launched the next electric L120 Electric wheel loader machine in Indonesia. The new electric wheel loader machine was launched at the Mining Indonesia event and will be made available for purchase in 2025.

Based on propulsion type, the global heavy construction equipment market is segmented into ICE and electric. The ICE segment dominated the market for vehicle type in 2024. ICE includes vehicle powered by diesel and gasoline. Diesel heavy construction equipment are a category of machines powered by diesel engines, used extensively in the construction industry for tasks that require significant power and heavy lifting. These vehicles play a crucial role in building infrastructure, from roads and bridges to buildings and industrial facilities. Diesel-powered heavy construction equipment include excavators, backhoe loaders, dump trucks, wheel loaders, cranes, and others. Diesel engines are generally more fuel-efficient than gasoline engines, especially in heavy-duty applications, reducing operational costs. Diesel-powered equipment are widely available, and they have a proven infrastructure, making it easier for construction projects to maintain their fleets.

Market leaders and key company profiles

JC BAMFORD EXCAVATORS LTD
AB VOLVO
CATERPILLAR INC
HITACHI LTD
HYUNDAI CONSTRUCTION EQUIPMENT CO LTD
DOOSAN CORP
CNH INDUSTRIAL NV
DEERE & CO
KOMATSU LTD
LIEBHERR

The geographic scope of the Heavy Construction Equipment market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The Heavy Construction Equipment market in Asia Pacific is expected to grow significantly during the forecast period.

The heavy construction equipment market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, the Philippines, Vietnam, and the Rest of Asia Pacific. The construction sector in Asia Pacific recorded ~US$ 4.36 trillion of output in 2022, representing approximately 45% of the global construction sector. However, in January 2025, infrastructure investments related to transportation, renewable energy, and manufacturing reached US$ 21.9 billion in Singapore and Malaysia. Further, the government of New Zealand is emphasizing the development of infrastructure networks such as water and wastewater systems, road and rail networks, electricity transmission, and telecommunication infrastructure. Growing population and increasing urbanization are a few factors boosting the need to expand and upgrade important infrastructure facilities in the country. The government of New Zealand plans to offer ~US$ 47 billion for infrastructure development over the coming five years 2023-2027. The growing focus on infrastructure development is anticipated to propel the growth of construction activities, along with the application of heavy construction equipment, across the country in the coming years.

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Contact Person : Ankit Mathur
Phone : +1-646-491-9876

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights

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