Construction Equipment Market revenue to exceed USD 424.5 Billion by 2038, says Research Nester

Research Nester's latest report, "Global Construction Equipment Market: Supply & Demand Analysis, Growth Forecasts & Statistics Report 2026-2038," delivers a comprehensive overview of market trends, drivers, and segment-level insights. The report categorizes the market by type, product, power output, engine capacity, propulsion type, application, and end user while examining the rising adoption of construction equipment in oil & gas, manufacturing, and mining industries. It highlights that increasing integration of automation, growing government investments, and increasing construction activities are reshaping the construction equipment landscape worldwide.

According to a recent study by Research Nester, the global construction equipment market size is predicted to surpass USD 424.5 billion by 2038, expanding at a CAGR of 4.5% during the forecast period 2026-2038.

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Rising Infrastructure Development Programs Fueling Growth in the Global Construction Equipment Market

The surge in the number of infrastructure development initiatives is one of the most prominent forces bolstering the growth of the global construction equipment market. Both government and private sector players are investing in massive ventures to meet the demand of urbanization. The data published by the Global Infrastructure Hub; infrastructure investment is required to reach USD 94 trillion by 2040. The investment is necessary to keep pace with the economic growth and population. Also, most of the expenditure is already in motion and offering lucrative opportunities for the market players. For instance, China is continuing to pioneer in the execution of the monumental projects. with its Belt and Road Initiative (BRI) that includes infrastructure investment in more than 60 countries. These programs are not only propelling the sales of the construction equipment but also stimulating the rental segment, strengthening long-term demand across the value chain.

Key Drivers and Challenges Impacting the Construction Equipment Market

Growth Drivers:

• Transition towards electric and hybrid-powered machinery
• Surge in mega infrastructure and smart city projects
• Growing mining and quarrying activities
• Boost in residential and commercial real estate development
• Increasing adoption of modular and prefabricated construction

Challenges:

• Supply chain disruptions and component shortages
• Fluctuations in the construction sector demand due to economic cycles
• Environmental concerns over noise and dust pollution in urban projects

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The heavy construction equipment segment is predicted to hold 50.1% of the market share through 2038. The dominance of the segment is driven by the imperative role in establishing large-scale infrastructure projects such as dams and highways. These machines are important for excavation and trenching, making them important in almost all stages of the construction. There is an increase in the government-funded infrastructure programs that has significantly increased demand for high-capacity, fuel-efficient, and technologically advanced heavy construction equipment. The demand for heavy construction equipment is further strengthened by the increasing demand for hybrid powertrains and GPS-enabled grading systems.

The APAC construction equipment industry is projected to capture over 43.2% of the global market share during the forecast period. The market growth in the region is driven by a rising number of strategically coordinated government infrastructure programs. In India, under the National Infrastructure Pipeline (NIP), USD 1.4 trillion was allocated between 2020 and 2025, covering a myriad of range of urban development. These investments have translated into a surge in sales of equipment, mainly benefiting the road construction equipment.

Also, China's construction equipment market is witnessing robust growth, bolstered by expansive infrastructure commitments and a strategic push toward industrial innovation. The country's ambition for carbon neutrality by 2060 is speeding up the transition toward electric and hybrid construction machineries. The strong policy support gives domestic manufacturers a competitive edge in electric equipment innovation.

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The construction equipment market is highly dynamic, and leading players are concentrating on technological advancement, sustainability, and globalization to position themselves. Major players such as Caterpillar Inc., Komatsu Ltd., Deere & Company (John Deere), Volvo Construction Equipment, Hitachi Construction Machinery, Liebherr Group, Doosan Infracore, JCB, Kubota Corporation, CNH Industrial N.V., Wirtgen Group, Mahindra Construction Equipment are making heavy investments in research and development and strategic alliances. The market is characterized by recurrent introductions of next-generation construction equipment for niche applications. Joint ventures, acquisitions, and mergers with customers are common means of driving innovation and extending market reach. As world industries continually raise the bar on product performance and sustainability, competition in the construction equipment business will intensify, driving continuous improvement and innovation.

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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

This release was published on openPR.