Construction Equipment Market Size, Growth, Drivers Report 2028
The construction equipment market is expected to grow from US$ 126,062.8 million in 2022 to US$ 223,451.1 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.
Heavy-duty vehicles developed specifically to carry out construction duties, most commonly earthwork operations, are referred to as construction equipment. The proper use of suitable equipment helps to the project's economy, quality, safety, speed, and timeliness. It is not always desired or feasible for the contractor to possess all of the construction equipment needed for the project. Excavating, digging dirt, moving it over great distances, placement, compacting, levelling, dozing, grading, and hauling are among the main processes involved in the building of any construction project.
Various excavation duties, such as excavating and moving the ground, are carried out with earthmoving equipment. Earthmoving equipment are available in various shapes and sizes. They are mostly used for repairing, constructing, elevating, agricultural, and demolition purposes. Excavators are earth-moving machines with buckets, arms, rotating cabs, and moveable tracks. A backhoe, also known as a rear actor or back digger, is a kind of excavation equipment having a digging bucket attached to the end of a two-part articulated arm. Loader is a construction machine that moves or loads materials, including asphalt, demolition waste, dirt, snow, feed, gravel, logs, raw minerals, recycled material, rock, sand, and woodchips, into or onto another type of machinery.
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Construction Equipment Market: Strategic Insights
Market Size Value in US$ 126,062.8 million in 2022 Market Size Value by US$ 223,451.1 million by 2028 Growth rate CAGR of 10.0% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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Construction Equipment Market: Strategic Insights
| Market Size Value in | US$ 126,062.8 million in 2022 |
| Market Size Value by | US$ 223,451.1 million by 2028 |
| Growth rate | CAGR of 10.0% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Key stakeholders in the construction equipment market are construction equipment raw materials, construction equipment manufacturers who operate at the supply side, and construction equipment end users who operate at the demand side. In the recent years, the demand for construction equipment especially in residential and commercial construction has increased, which is expected to drive the construction equipment market growth in the next five years. Caterpillar, John Deere, Komatsu, Volvo, and Liebherr are among the key construction equipment providers. In addition to these major ecosystem players, there are several other peripheral stakeholders who play a crucial role in enabling the advancements in technologies and the adoption of these products across several industries.
Impact of COVID-19 Pandemic on Construction Equipment Market
In 2020, the COVID-19 pandemic hampered construction activities. As a result, construction equipment sales have decreased across the world. Infrastructure investments; residential, commercial, and industrial construction; underground and well construction; and institutional expenditure affect construction equipment manufacturers. The US, the UK, China, and India are among the countries that have been disproportionately affected. According to the International Construction Group, the delivery of over one-quarter of all projects (22.7%) was delayed by more than 250 days, and more than one-tenth of all projects (13.4%) were delayed by more than a year in 2020. However, projects of hospitals and other medical facilities, labs, and shipping and logistics infrastructure are in limited supply. Furthermore, several nations have begun to gradually resume activities various industries, including the construction industry. India and China have started industrial and commercial construction projects. In April 2021, industrial output climbed for the first time since January 2021, as countries began to implement new projects. Therefore, the demand for excavators, backhoe loaders, compactors, dozers, and other construction equipment surged.
Market Insight
Increasing Infrastructure Investments Post COVID-19 Pandemic
Increasing Infrastructure Investments Post COVID-19 Pandemic
Economic activities across the world were considerably stifled due to the COVID-19 pandemic. There were huge investments in infrastructure during 2020-21, which provided momentum to the infrastructure industry growth. Infrastructure investments in electricity generation, national highway construction, railways, and shipping cargo propel the demand for construction equipment. In emerging economies, a few core infrastructure industries including coal, crude oil, steel, and cement exhibited the growth index in 2021. These factors positively impacted the construction equipment market growth. Infrastructure investment has a long-term impact on product development, which can boost GDP in long run, albeit the scale of these effects is unknown. Most countries, specifically in Middle East, have established a quadrilateral economic forum to focus on infrastructure development projects in the region. To facilitate communication among employees and with consumers, businesses use digital solutions and channels. Governments and educational institutions have done so as well.
Equipment Type Segment Insights
A large number of construction equipment is used than ever, owing to the growing number of commercial, residential, and industrial projects requiring heavy-duty tools and machinery to get the job done. In huge projects, heavy construction equipment is employed for various tasks. The choice of heavy equipment types is based on the scope and cost of the project. These factors facilitate and speed up the construction process. Excavators are a vital and frequently used piece of equipment in the construction sector.
Application Segment Insights
Based on application, the construction equipment market is segmented into residential, commercial, and industrial. A construction tool known as an asphalt mixing plant is used to produce coated roadstone and other types of asphalt concrete for use in road construction projects. Road rollers are essentially compactor-style engineering machines that push down earth, gravel, concrete, or asphalt while building roads and foundations. For installing precast piles for skyscrapers and other enormous industrial complexes needing deep foundations, a pile boring machine is used to create vertical holes on a construction site, resulting in the growth of the construction equipment market.
The construction equipment market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In June 2022, Caterpillar Inc. announced that its worldwide headquarters will be relocated from Deerfield, Illinois to the company's existing facility in Irving, Texas. The company will begin transitioning its headquarters to Irving in 2022.
Based on equipment type, the construction equipment market is segmented into heavy construction vehicles, earthmoving equipment, material handling equipment, and others. The market, based on application, is segmented into residential, commercial, and industrial. Based on region, the global construction equipment market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Construction Equipment Market Report Scope
construction equipment market – Company Profiles
- Caterpillar Inc.
- CNH Industrial N.V.
- Hitachi Construction Machinery Co., Ltd
- J C Bamford Excavators Ltd.
- Deere & Company
- Komatsu Ltd.
- Liebherr-International Deutschland GmbH
- Terex Corporation
- Volvo CE
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Equipment Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asia-Pacific dominated the Construction Equipment Market in 2021 with a share of 36.0%; it would continue to dominate the market during the forecast period and account for 38.4% share by 2028
The global construction equipment market size is projected to reach US$ 223451.09 million by 2028.
The material handling equipment segment led the construction equipment market in 2021.
APAC is the fastest-growing regional market in the global construction equipment market in 2021.
The key players holding the major market share of the construction equipment market are Caterpillar, Komatsu, VOLVO Construction Equipment, John Deere and Liebherr.
The Future trends impacting the construction equipment market are -- Growing Demand for the Artificial Intelligence
The global construction equipment market was valued at US$ 120661.95 million in 2021
The driving factors impacting the construction equipment market are
I. Increasing Infrastructure Investments Post COVID-19 Pandemic
Growing Focus on Public-Private Partnerships (PPP)
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Construction Equipment Market – By Equipment Type
1.3.2 Global Construction Equipment Market – By Application
1.3.3 Global Construction Equipment Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Construction Equipment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Construction Equipment Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Infrastructure Investments Post COVID-19 Pandemic
5.1.2 Growing Focus on Public–Private Partnerships (PPP)
5.2 Market Restraints
5.2.1 Decreased Deal Value of Construction Equipment Projects
5.3 Market Opportunities
5.3.1 Technological Innovations in Construction Equipment
5.4 Future Trends
5.4.1 Artificial Intelligence
5.5 Impact Analysis of Drivers and Restraints
6. Construction Equipment Market – Global Market Analysis
6.1 Construction Equipment Market Global Overview
6.2 Global Construction Equipment Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Construction Equipment Market Revenue and Forecast to 2028 – Type
7.1 Overview
7.2 Construction Equipment Market, By Equipment Type (2021 and 2028)
7.3 Heavy Construction Vehicles
7.3.1 Overview
7.3.2 Heavy Construction Vehicles: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Earthmoving Equipment
7.4.1 Overview
7.4.2 Earthmoving Equipment: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Material-Handling Equipment
7.5.1 Overview
7.5.2 Material-Handling Equipment: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8. Construction Equipment Market – By Application
8.1 Overview
8.2 Construction Equipment Market, By Application (2021 and 2028)
8.3 COMMERCIAL
8.3.1 Overview
8.3.2 COMMERCIAL: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Residential
8.4.1 Overview
8.4.2 Residential: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Industrial
8.5.1 Overview
8.5.2 Industrial: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9. Construction Equipment Market – Geographic Analysis
9.1 Overview
9.2 North America: Construction Equipment Market
9.2.1 North America: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Construction Equipment Market, By Equipment Type
9.2.3 North America: Construction Equipment Market, By Application
9.2.4 North America: Construction Equipment Market, by Key Country
9.2.4.1 US: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Construction Equipment Market, By Equipment Type
9.2.4.1.2 US: Construction Equipment Market, By Application
9.2.4.2 Canada: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Construction Equipment Market, By Equipment Type
9.2.4.2.2 Canada: Construction Equipment Market, By Application
9.2.4.3 Mexico: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Construction Equipment Market, By Equipment Type
9.2.4.3.2 Mexico: Construction Equipment Market, By Application
9.3 Europe: Construction Equipment Market
9.3.1 Europe: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.2 Europe: Construction Equipment Market, By Equipment Type
9.3.3 Europe: Construction Equipment Market, By Application
9.3.4 Europe: Construction Equipment Market, by Key Country
9.3.4.1 Germany: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.1.1 Germany: Construction Equipment Market, By Equipment Type
9.3.4.1.2 Germany: Construction Equipment Market, By Application
9.3.4.2 France: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.2.1 France: Construction Equipment Market, By Equipment Type
9.3.4.2.2 France: Construction Equipment Market, By Application
9.3.4.3 Italy: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 Italy: Construction Equipment Market, By Equipment Type
9.3.4.3.2 Italy: Construction Equipment Market, By Application
9.3.4.4 UK: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.4.1 UK: Construction Equipment Market, By Equipment Type
9.3.4.4.2 UK: Construction Equipment Market, By Application
9.3.4.5 Russia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.5.1 Russia: Construction Equipment Market, By Equipment Type
9.3.4.5.2 Russia: Construction Equipment Market, By Application
9.3.4.6 Rest of Europe: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.6.1 Rest of Europe: Construction Equipment Market, By Equipment Type
9.3.4.6.2 Rest of Europe: Construction Equipment Market, By Application
9.4 APAC: Construction Equipment Market
9.4.1 APAC: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.2 APAC: Construction Equipment Market, By Equipment Type
9.4.3 APAC: Construction Equipment Market, By Application
9.4.4 APAC: Construction Equipment Market, by Key Country
9.4.4.1 Australia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.1.1 Australia: Construction Equipment Market, By Equipment Type
9.4.4.1.2 Australia: Construction Equipment Market, By Application
9.4.4.2 China: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.2.1 China: Construction Equipment Market, By Equipment Type
9.4.4.2.2 China: Construction Equipment Market, By Application
9.4.4.3 India: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.3.1 India: Construction Equipment Market, By Equipment Type
9.4.4.3.2 India: Construction Equipment Market, By Application
9.4.4.4 Japan: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.4.1 Japan: Construction Equipment Market, By Equipment Type
9.4.4.4.2 Japan: Construction Equipment Market, By Application
9.4.4.5 South Korea: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.5.1 South Korea: Construction Equipment Market, By Equipment Type
9.4.4.5.2 South Korea: Construction Equipment Market, By Application
9.4.4.6 Rest of APAC: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of APAC: Construction Equipment Market, By Equipment Type
9.4.4.6.2 Rest of APAC: Construction Equipment Market, By Application
9.5 MEA: Construction Equipment Market
9.5.1 MEA: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5.2 MEA: Construction Equipment Market, By Equipment Type
9.5.3 MEA: Construction Equipment Market, By Application
9.5.4 MEA: Construction Equipment Market, by Key Country
9.5.4.1 South Africa: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.1.1 South Africa: Construction Equipment Market, By Equipment Type
9.5.4.1.2 South Africa: Construction Equipment Market, By Application
9.5.4.2 Saudi Arabia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.2.1 Saudi Arabia: Construction Equipment Market, By Equipment Type
9.5.4.2.2 Saudi Arabia: Construction Equipment Market, By Application
9.5.4.3 UAE: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.3.1 UAE: Construction Equipment Market, By Equipment Type
9.5.4.3.2 UAE: Construction Equipment Market, By Application
9.5.4.4 Rest of MEA: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.4.1 Rest of MEA: Construction Equipment Market, By Equipment Type
9.5.4.4.2 Rest of MEA: Construction Equipment Market, By Application
9.6 SAM: Construction Equipment Market
9.6.1 SAM: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.6.2 SAM: Construction Equipment Market, By Equipment Type
9.6.3 SAM: Construction Equipment Market, By Application
9.6.4 SAM: Construction Equipment Market, by Key Country
9.6.4.1 Brazil: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 Brazil: Construction Equipment Market, By Equipment Type
9.6.4.1.2 Brazil: Construction Equipment Market, By Application
9.6.4.2 Argentina: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 Argentina: Construction Equipment Market, By Equipment Type
9.6.4.2.2 Argentina: Construction Equipment Market, By Application
9.6.4.3 Rest of SAM: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 Rest of SAM: Construction Equipment Market, By Equipment Type
9.6.4.3.2 Rest of SAM: Construction Equipment Market, By Application
10. Impact of COVID-19 Pandemic on Construction Equipment Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 APAC: Impact Assessment of COVID-19 Pandemic
10.5 MEA: Impact Assessment of COVID-19 Pandemic
10.6 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
12.1 Caterpillar Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 CNH Industrial N.V.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Komatsu Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Liebherr
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Terex Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Zoomlion Heavy Industry Science&Technology Co., Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 J C Bamford Excavators Ltd. (JCB)
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Deere & Company
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 AB Volvo
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Hitachi Construction Machinery Co., Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Global Construction Equipment Market, Revenue and Forecast, 2019–2028 (US$ Million)
Table 2. North America: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Construction Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Europe: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Europe: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Europe: Construction Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. Germany: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 16. France: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. France: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 20. UK: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. UK: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 26. APAC: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 27. APAC: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 28. APAC: Construction Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 29. Australia: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 30. Australia: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 31. China: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 32. China: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 33. India: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 34. India: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 35. Japan: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 36. Japan: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 37. South Korea: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 38. South Korea: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 39. Rest of APAC: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 40. Rest of APAC: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 41. MEA: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 42. MEA: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 43. MEA: Construction Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 44. South Africa: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 45. South Africa: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 46. Saudi Arabia: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 47. Saudi Arabia: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 48. UAE: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 49. UAE: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 50. Rest of MEA: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 51. Rest of MEA: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 52. SAM: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 53. SAM: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 54. SAM: Construction Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 55. Brazil: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 56. Brazil: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 57. Argentina: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 58. Argentina: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 59. Rest of SAM: Construction Equipment Market, By Equipment Type – Revenue and Forecast to 2028 (US$ Million)
Table 60. Rest of SAM: Construction Equipment Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 61. Glossary of Terms, Construction Equipment Market
LIST OF FIGURES
Figure 1. Construction Equipment Market Segmentation
Figure 2. Construction Equipment Market Segmentation – Geography
Figure 3. Construction Equipment Market Overview
Figure 4. Construction Equipment Market, By Equipment Type
Figure 5. Construction Equipment Market, By Application
Figure 6. Construction Equipment Market, By Region
Figure 7. North America: PEST Analysis
Figure 8. Europe: PEST Analysis
Figure 9. APAC: PEST Analysis
Figure 10. MEA: PEST Analysis
Figure 11. SAM: PEST Analysis
Figure 12. Construction Equipment Market Ecosystem Analysis
Figure 13. Expert Opinion
Figure 14. Construction Equipment Market: Impact Analysis of Drivers and Restraints
Figure 15. Geographic Overview of Construction Equipment Market
Figure 16. Global Construction Equipment Market, Forecast and Analysis (US$ Million)
Figure 17. Market Positioning- Top Five Players
Figure 18. Construction Equipment Market Revenue Share, By Equipment Type (2021 and 2028)
Figure 19. Heavy Construction Vehicles: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Earthmoving Equipment: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Material-Handling Equipment: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Others: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Construction Equipment Market Revenue Share, By Application (2021 and 2028)
Figure 24. COMMERCIAL: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Residential: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Industrial: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Global Construction Equipment Market Revenue Share, By Region (2021 & 2028)
Figure 28. North America: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America: Construction Equipment Market Revenue Share, By Equipment Type (2021 & 2028)
Figure 30. North America: Construction Equipment Market Revenue Share, By Application (2021 & 2028)
Figure 31. North America: Construction Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 32. US: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Canada: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Mexico: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Europe: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Europe: Construction Equipment Market Revenue Share, By Equipment Type (2021 & 2028)
Figure 37. Europe: Construction Equipment Market Revenue Share, By Application (2021 & 2028)
Figure 38. Europe: Construction Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 39. Germany: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. France: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Italy: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. UK: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Russia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Rest of Europe: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. APAC: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. APAC: Construction Equipment Market Revenue Share, By Equipment Type (2021 & 2028)
Figure 47. APAC: Construction Equipment Market Revenue Share, By Application (2021 & 2028)
Figure 48. APAC: Construction Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 49. Australia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. China: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. India: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Japan: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. South Korea: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. Rest of APAC: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. MEA: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. MEA: Construction Equipment Market Revenue Share, By Equipment Type (2021 & 2028)
Figure 57. MEA: Construction Equipment Market Revenue Share, By Application (2021 & 2028)
Figure 58. MEA: Construction Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 59. South Africa: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. Saudi Arabia: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. UAE: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. Rest of MEA: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. SAM: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. SAM: Construction Equipment Market Revenue Share, By Equipment Type (2021 & 2028)
Figure 65. SAM: Construction Equipment Market Revenue Share, By Application (2021 & 2028)
Figure 66. SAM: Construction Equipment Market Revenue Share, by Key Country (2021 & 2028)
Figure 67. Brazil: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 68. Argentina: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 69. Rest of SAM: Construction Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 70. Impact of COVID-19 Pandemic on North American Country Markets
Figure 71. Impact of COVID-19 Pandemic on European Country Markets
Figure 72. Impact of COVID-19 Pandemic on APAC Country Markets
Figure 73. Impact of COVID-19 Pandemic on MEA Country Markets
Figure 74. Impact of COVID-19 Pandemic on SAM Country Markets
The List of Companies -Construction Equipment Market
- Caterpillar Inc
- CNH Industrial N.V.
- Komatsu Ltd
- Liebherr
- Terex Corporation
- Zoomlion Heavy Industry Science&Technology Co., Ltd.
- J C Bamford Excavators Ltd. (JCB)
- Deere & Company
- AB Volvo
- Hitachi Construction Machinery Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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