The heavy construction equipment market is projected to grow from US$ 224.15 billion in 2024 to US$ 338.06 billion by 2031, demonstrating a compound annual growth rate (CAGR) of 6.16% from 2025 to 2031.

?Download Full PDF Sample Copy of Market Report @
https://wwcw.businessmarketinsights.com/sample/BMIRE00031135

Executive Summary and Global Market Analysis:

Heavy construction equipment encompasses large machinery and vehicles vital for various construction tasks, including excavation, lifting, material handling, and demolition. These machines are crucial for ensuring efficiency and productivity in large-scale construction and civil engineering projects. A key driver for this market is the increasing government investment in transportation, renewable energy, and public infrastructure within developing nations like India, Mexico, and Brazil. The World Bank reports annual infrastructure development investments exceeding US$ 3.7 trillion to address the demands of a growing global population. Furthermore, the rise in global investments in the clean energy sector is significantly contributing to market growth. The International Energy Agency indicates that over US$ 3 trillion was invested globally in clean energy-related infrastructure developments in 2024 alone.

The heavy construction equipment market is experiencing significant growth, driven by increasing global investments in infrastructure and construction projects. Key market segments include machinery type, propulsion type, power output, and end-use industry.

Market Segmentation Analysis:

• By Machinery Type: The market is segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. In 2024, earthmoving equipment held the largest market share. This segment includes essential machinery such as excavators, bulldozers, backhoe loaders, and wheel loaders, all critical for infrastructure development.
• By Propulsion Type: The market is divided into Internal Combustion Engine (ICE) and electric. The ICE segment dominated in 2024, primarily due to the widespread use of diesel-powered heavy construction equipment, which offers fuel efficiency and robust performance for heavy-duty applications.
• By Power Output: Segments include less than 100 HP, 101-200 HP, 201-400 HP, and 401 HP. The 201-400 HP segment held the largest share in 2024, indicating a strong demand for equipment with substantial power for various construction tasks.
• By End-Use Industry: The market is segmented into building and construction, forestry and agriculture, energy and power, mining, and others. The building and construction segment held the largest market share in 2024, reflecting the global boom in construction activities.

Market Drivers and Opportunities:

• Rise in Investment in the Construction Industry Worldwide: The global construction industry is witnessing rapid growth, fueled by substantial government investments and increasing demand for diverse construction projects. Countries like the US, China, Mexico, Brazil, and India are at the forefront of this expansion. For instance, the US construction industry sees an annual investment of approximately US$ 1.4 trillion. Significant government initiatives, such as the Bipartisan Infrastructure Law in the US (US$ 1.2 trillion) and the EU infrastructure development fund (US$ 828.8 billion), are propelling market growth. In Asia Pacific, the construction industry was valued at US$ 4.36 trillion in 2022, representing 45% of the global total, with major investments in countries like India, Japan, and China due to a rising population and the need for new infrastructure.
• Growing Infrastructure Advancement Activities in Emerging Economies: Emerging economies such as Argentina, Brazil, China, India, Indonesia, Mexico, and South Africa are undertaking major construction and infrastructure projects. Examples include the Riachuelo water system in Argentina, the Hong Kong-Zhuhai-Macau Bridge in China, and various ongoing projects in Europe. These initiatives create lucrative growth opportunities for the heavy construction equipment market.

Market Size and Share Analysis:

• Earthmoving Equipment Dominance: The earthmoving equipment segment held the largest market share in 2024 and is projected to maintain its dominance. This is directly linked to increased global investment in infrastructure development. For example, Germany's Federal Transport Infrastructure Plan 2030 includes an investment of US$ 280.68 billion, with an additional US$ 59.34 billion committed to green infrastructure projects in 2024, significantly boosting the demand for earthmoving equipment. The market is also seeing the introduction of advanced electric earthmoving equipment, such as Volvo Construction Equipment's L120 Electric wheel loader, set to be available in 2025.
• ICE Segment Leadership: The ICE segment continues to lead the market, primarily due to the widespread use of diesel-powered heavy construction equipment. These machines are favored for their fuel efficiency in heavy-duty applications, lower operational costs, and established infrastructure for maintenance and fuel supply. Diesel-powered excavators, backhoe loaders, dump trucks, and cranes remain integral to construction projects globally.

key company profiles

  JC BAMFORD EXCAVATORS LTD

  AB VOLVO

  CATERPILLAR INC

  HITACHI LTD

  HYUNDAI CONSTRUCTION EQUIPMENT CO LTD

  DOOSAN CORP

  CNH INDUSTRIAL NV

  DEERE & CO

  KOMATSU LTD

  LIEBHERR

Heavy Construction Equipment Market Report Coverage and Deliverables

The "Heavy Construction Equipment Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Heavy Construction Equipment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Heavy Construction Equipment market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Heavy Construction Equipment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Heavy Construction Equipment market
• Detailed company profiles

Heavy Construction Equipment Market Overview

The global heavy construction equipment market is segmented into five key regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. Among these, the Asia Pacific market is projected to experience substantial growth during the forecast period.

Asia Pacific Market Segmentation

The Asia Pacific heavy construction equipment market is further categorized into:

• Australia, China, India, Japan, South Korea
• Indonesia, Singapore, Malaysia, the Philippines, Vietnam
• Rest of Asia Pacific

In 2022, the construction sector in Asia Pacific generated approximately US$ 4.36 trillion in output, accounting for nearly 45% of global construction activity.

Key Infrastructure Investments Driving Growth

• In January 2025, infrastructure investments in Singapore and Malaysia—spanning transportation, renewable energy, and manufacturing—reached US$ 21.9 billion.
• New Zealand’s government is prioritizing infrastructure development, including water and wastewater systems, road and rail networks, electricity transmission, and telecommunications.
• The country has allocated US$ 47 billion for infrastructure projects between 2023 and 2027.
• Rising urbanization and population growth are accelerating the need for expanded and upgraded infrastructure, fueling demand for heavy construction equipment.

Heavy Construction Equipment Market Report Structure

The report provides a comprehensive analysis of the market, incorporating qualitative and quantitative data across type, vehicle type, end-user, and geography.

Key Chapters & Insights

1. Key Takeaways (Chapter 2) – Highlights major market trends and outlook.
2. Research Methodology (Chapter 3) – Details the study’s approach.
3. Ecosystem & Porter’s Analysis (Chapter 4) – Examines industry dynamics and competitive forces.
4. Market Dynamics (Chapter 5) – Covers:
• Drivers, restraints, and opportunities
• Future trends and impact analysis
5. Market Revenue Forecast (Chapter 6) – Historical data and projections up to 2031.
6. Regional & Segment Analysis (Chapters 7-9) – Breakdown by type, application, and region (North America, Europe, Asia Pacific, MEA, South & Central America).
7. Competitive Landscape (Chapters 10-12) – Includes:
• Heat map analysis of key players
• Business strategies, mergers, joint ventures
• Company profiles (financials, SWOT analysis, key developments)
8. Appendix (Chapter 13) – Abbreviations, disclaimer, and company overviews.

Recent Market Developments

The report incorporates insights from primary and secondary research, including corporate announcements and industry databases. Notable developments include:

• Hitachi Construction Machinery (Dec 2024)
• Established Hitachi Construction Machinery Development Center India to enhance R&D capabilities.
• Plans to hire 200 engineers and designers by 2027 to strengthen product development in India.
• HD Hyundai Construction Equipment (Aug 2024)
• Expanded its HX crawler excavator line with two new large-frame models:
• HX800A L (82-ton, 528 hp)
• HX1000A L (100-ton, 620 hp)
• Designed for earthmoving, mining, and quarrying applications.

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights