Global Heavy Construction Equipment Market to Reach US$ 207.0 Billion by 2032, Propelled by the Expanding Construction Industry

September 01, 2022 | Heavy Industry

The latest report by IMARC Group, titled “Heavy Construction Equipment Market Report by Equipment Type (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, and Others), End User (Infrastructure, Construction, Mining, Oil and Gas, Manufacturing, and Others), and Region 2024-2032”, finds that the global heavy construction equipment market reached a value of US$ 138.5 Billion in 2023. Heavy construction equipment refers to machinery used to perform heavy operations, such as material handling, excavation, lifting, and other heavy operations. Some of the most commonly used heavy construction equipment include dumpers, tippers, dozers, motor graders, loaders, and excavators. It is used widely in the residential, commercial, and industrial sectors. It also help increase the output rate with the help of work progress, minimize the need for manpower, and improve speed, efficiency, and safety. In recent years, heavy construction equipment has gained momentum due to its extensive adoption in various industry verticals, including manufacturing, mining, infrastructure, construction, and oil and gas.

Global Heavy Construction Equipment Market Trends:

One of the primary factors driving the market is the expanding construction industry across the globe. Additionally, the increased private sector investment and the rapid growth of the real estate sector are positively influencing the market growth. Other than this, the utilization of cranes for lifting heavy materials with precision and exactness, along with an enhanced level of safety, is escalating the demand for heavy construction equipment. Besides this, the steady rise in the prices of residential properties, coupled with an increase in the demand for residential homes, is propelling the market growth. In line with this, governments of various nations are heavily investing in the development of smart cities, which has resulted in high demand for heavy construction equipment, such as road construction machinery. Furthermore, the renting and leasing services available for heavy construction equipment have made it more accessible, thus strengthening the market growth. Apart from this, numerous technological upgradations, such as the integration of machine learning (ML) and the Internet of Things (IoT) to optimize equipment utilization and enhance operational efficiency, are driving the market growth. Other growth-inducing factors include the escalating demand for advanced construction equipment and the implementation of numerous government initiatives promoting commercial, residential and infrastructural developments. Looking forward, IMARC Group expects the market value to reach US$ 207.0 Billion by 2032, expanding at a CAGR of 4.5% during the forecast period (2024-2032).

Market Summary:

  • Based on the equipment type, the market has been divided into earthmoving equipment, material handling equipment, heavy construction vehicles, and others.
  • On the basis of the end user, the market has been segmented into infrastructure, construction, mining, oil and gas, manufacturing, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being AB Volvo, Caterpillar Inc., CNH Industrial N.V., Deere & Company, and Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), Hyundai Doosan Infracore Co. Ltd., JCB Ltd., Komatsu Ltd., Liebherr AG, SANY Group Co. Ltd., Terex Corporation, and XCMG Group.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

USA: +1-631-791-1145
Follow us on twitter : @imarcglobal

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Heavy Construction Equipment Market to Reach US$ 207.0 Billion by 2032, Propelled by the Expanding Construction Industry
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More