Emerging Trends to Drive Building And Road Construction Equipment Market Growth at 10% CAGR Through 2029

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Building And Road Construction Equipment Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a swift expansion in the market size of building & road construction equipment. It is projected to escalate from $203.1 billion in 2024 to $225.01 billion in 2025, growing at a compound annual growth rate (CAGR) of 10.8%. The exceptional growth during the historical phase can be ascribed to factors such as economic expansion, infrastructure advancement, urbanization, as well as replacement and modernization.

How Will the Building And Road Construction Equipment Market Size Evolve and Grow by 2029?
The market size for building and road construction equipment is predicted to expand swiftly in the coming years, rising to $329.86 billion by 2029 with a compound annual growth rate (CAGR) of 10.0%. Factors contributing to this growth during the forecasted timeframe include substantial infrastructure investment, the rising popularity of intelligent construction, adoption of sustainable construction methods, trends in urbanization, and the growth of the rental market. Key trends anticipated in the prediction period involve advancements in technology, the use of autonomous and remote-controlled equipment, the deployment of digital twin technology, and increasing demands for customization and versatility.

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What Drivers Are Propelling the Growth of Building And Road Construction Equipment Market Forward?
The advancement of infrastructure in developing and mature countries has been a key catalyst for the growth of the building and road construction equipment market. Governments and the private sector in these countries are striving to expand their infrastructure to match the GDP, fulfill the rising population needs, match urbanization levels, and boost connectivity through the development of highways and expressways. For example, India's total investment in road construction reached $22.4 billion, with the private sector contributing 14% of the total investments. Moreover, the World Bank reported that the infrastructure investment commitments from the private sector in low- and middle-income countries rose to $76.2 billion in 2022, marking a 49% rise from 2021 on a global scale. To expedite and simplify the construction process, the governments and private sectors in developed and emerging markets are focusing on infrastructure growth, creating a demand for advanced construction equipment; this serves as a significant driver for the building and road construction equipment market.

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Which Emerging Trends Are Transforming the Building And Road Construction Equipment Market in 2025?
Leading firms in the building and road construction equipment industry are prioritizing the design of innovative machinery, such as construction excavators and forklifts, to increase work efficiency and productivity at construction sites. Construction excavators and forklifts represent heavyweight equipment employed for material handling, earthmoving and lifting tasks at construction venues, with excavators dedicated to digging and demolition and forklifts charged with the transportation and stacking of materials. For example, in October 2023, HD Hyundai Construction Equipment - a company based in South Korea well-known for its top-tier equipment - unveiled a new array of products, encompassing excavators, wheel loaders, and electric forklifts, at its Chakan, Pune factory. The excavator lineup boasts the SMART Plus Series with three different models (8-ton, 14-ton, and 15-ton) tailored for infrastructure tasks and the considerable HX520L weighing at 50-ton for heavy-duty mining activities. Two wheel loader models (3 tons and 5 tons) and electric forklifts (2.5 tons and 3.0 tons) were also launched to augment efficiency in handling materials.

What Are the Key Segments in the Building And Road Construction Equipment Market?
The building and road construction equipment market covered in this report is segmented -

1) By Product Type: Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer, Bulldozers, Other Product Types
2) By Equipment Category: Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Other Equipment Categories
3) By Application: Building Construction, Road Construction

Subsegments:
1) By Motor Graders: Crawler Graders, Wheeled Graders
2) By Road Roller: Single Drum Rollers, Double Drum Rollers, Pneumatic Rollers
3) By Wheel Loaders: Small Wheel Loaders, Medium Wheel Loaders, Large Wheel Loaders
4) By Concrete Mixer: Drum Mixers, Pan Mixers, Twin-Shaft Mixers, Volumetric Mixers
5) By Bulldozers: Crawler Bulldozers, Wheel Bulldozers
6) By Other Product Types: Backhoe Loaders, Excavators, Skid Steer Loaders, Dump Trucks, Asphalt Pavers

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Who Are the Key Players Shaping the Building And Road Construction Equipment Market's Competitive Landscape?
Major companies operating in the building and road construction equipment market include Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, T Corporation, Atlas Copco Group, Deere and Company, Sany Heavy Industry Co. Ltd., Wacker Neuson SE, CNH Industrial NV, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Wirtgen Group, Kobelco Construction Machinery Co. Ltd., Manitowoc Company Inc., Bell Equipment Ltd., Astec Industries Inc., BopparderMaschinenbau-Gesellschaft mbH, Case Construction Equipment, FAYAT Group, Gomaco Corporation Inc., HAMM AG, JLG Industries Inc., Konecranes Oyj, Kubota Corporation, LiuGong Machinery Corp. Ltd., Manitou Group, Palfinger AG, Putzmeister Holding GmbH, SennebogenMaschinenfabrik GmbH, Tadano Ltd., Takeuchi Mfg. Co. Ltd.

What Geographic Markets Are Powering Growth in the Building And Road Construction Equipment Market?
Asia-Pacific was the largest region in the building and road construction equipment market in 2023. Western Europe was the second-largest region in the building and road construction equipment market. The regions covered in the building and road construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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