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The global construction equipment market size was valued at USD 161.45 billion in 2024. The market is projected to grow from USD 171.98 billion in 2025 to USD 271.30 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Construction Equipment Market Size, Share & Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, Road Building Equipment, Civil Engineering Equipment, Crushing and Screening Equipment, and Others), By Application (Residential, Commercial, and Industrial), and Regional Forecast, 2025 – 2032”.
With smart city initiatives and sustainability mandates, the construction equipment industry is poised for steady expansion. The adoption of electric and hybrid equipment is gaining traction, fueled by emission regulations and eco-friendly trends. Meanwhile, IoT and AI-driven maintenance solutions will optimize operations, reducing costs and boosting productivity.
Caterpillar Unveiled its Next-Generation D8 Dozer to Enhance Productivity and Efficiency
In December 2024, Caterpillar introduced its next-generation D8 dozer, featuring enhanced automation, a more powerful engine, and real-time connectivity for improved performance and efficiency. Designed for demanding environments, it offers superior productivity and advanced machine monitoring.
Growing Adoption of Excavators to Drive Market Growth
Growing infrastructure investments and urban expansion are fueling the demand for advanced construction equipment, particularly excavators. Innovations in electrification, automation, and telematics are enhancing efficiency and sustainability. Stricter environmental regulations are accelerating the shift toward energy-efficient models. As smart construction gains momentum, the excavator segment is positioned for the highest growth within the construction equipment market.
Nevertheless, reduced availability of critical components due to raw material price volatility, transportation bottlenecks, and semiconductor shortages could hinder construction equipment market growth.
Industry Participants Focus on Sustainability to Meet Emission Regulations
The global construction machinery market remains highly competitive, with key players advancing automation, electrification, and telematics using AI and IoT for efficiency and safety. Companies prioritize sustainability, developing fuel-efficient and electric machinery to meet emission regulations. Strategic mergers and expansions drive growth in emerging markets amid rising infrastructure development.
List of Key Players Mentioned in the Report:
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https://www.fortunebusinessinsights.com/industry-reports/construction-equipment-market-100521
Key Industry Development
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2032 |
Historical Period | 2019-2023 |
Growth Rate | CAGR of 6.7% from 2025 to 2032 |
Unit | Value (USD Billion) |
Segmentation | By Equipment Type
By Application
By Region
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Companies Profiled in the Report | Caterpillar Inc. (U.S.), CNH Industrial N.V. (U.K.), Doosan Corporation (South Korea), Hitachi Construction Machinery Co., Ltd. (Japan), HD Hyundai Construction Equipment Co., Ltd. (Japan), J.C. Bamford Excavators Limited (U.K.), Komatsu Ltd. (Japan), Liebherr Group (Switzerland), SANY GROUP (China), Volvo Group (Sweden), etc. |