Asia Pacific Construction and Mining Equipment Market Size was valued at USD 78.5 Billion in 2022. The Construction and Mining Equipment industry is projected to grow from USD 85.40 Billion in 2023 to USD 167.6 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 8.80% during the forecast period (2024 - 2032). The growing adoption of modern technologies and fast infrastructural development are the major market drivers of the construction and mining equipment market in the Asia Pacific. Construction and mining equipment are being adopted by industries for different purposes in order to save significant amounts of time and personnel costs.
Source: The Primary Research, Secondary Research, MRFR Database and Analyst Review
Asia Pacific Construction and Mining Equipment Market Trends
The Asia Pacific Construction and Mining Equipment market CAGR is growing due to the rising demand for infrastructure in different sectors, including residential and commercial construction, hospitals and medical facilities, to mention a few. The region’s infrastructure is receiving corporate and government investment as a part of national growth and urbanization goals. Further, the increasing incomes of several nations and economic stability have helped in the development of highways, airports, irrigation systems, and hydropower facilities in recent years, which increases the demand for machinery. With the continuous expansion in Asia Pacific countries, the construction and mining equipment segment has developed over a period of time and thus holds a significant market share of the region in the construction equipment market. The market is fueled by the rising utilization of earthmoving machines like loaders and excavators due to the advantages over manual labor. It offers different advantages like enhanced quality, better project efficiency, and cost savings.
The excavators are broadly utilized in major construction projects and are the best-selling type of construction equipment in major markets. Further, the archeological and government departments in the region are starting different projects for mineral exploration, which will enhance the need for mining equipment in this region. Similarly, the integration of new rules and regulations for the modernization and retrofitting of old buildings fueled by continuing investments will boost the market growth. The region has also been experiencing rapid infrastructural development along with the availability of business capital investments in developing economies. Thus driving the Construction and Mining Equipment market revenue.
Construction and Mining Equipment Market Segment Insights
The Asia Pacific Construction and Mining Equipment market segmentation, based on demand, includes New Demand and Aftermarket. The aftermarket category dominates the market due to the emerging technological developments by prime manufacturers. The fast infrastructure developments and urbanization in the region have raised requirements for construction equipment repair, maintenance, and replacement services. The deployment of well-maintained equipment is growing in construction, transportation, and mining due to the rising construction project complications and equipment downtime, which directly affects the project timelines.
Figure 1: Asia Pacific Construction and Mining Equipment Market, by Demand, 2023 & 2032 (USD Billion)
Source: The Primary Research, Secondary Research, MRFR Database and Analyst Review
Asia Pacific Construction and Mining Equipment Product Insights
The Asia Pacific Construction and Mining Equipment market segmentation, based on product, includes Earthmoving & Building Equipment, Material Handling & Cranes, Concrete Equipment, and Others. The earthmoving & building equipment segment dominates the market as the rising concern about environmental sustainability boosts the adoption of equipment that is environment-friendly with fewer emissions and enhanced fuel efficiency. Moreover, the rising attempts by market players to include automation, telematics, and GPS systems to enhance the accuracy and efficiency of this equipment contribute to market growth.
Asia Pacific Construction and Mining Equipment Sales Channel Insights
The Asia Pacific Construction and Mining Equipment market segmentation, based on sales channels, includes Independent Dealers/Distributors, Direct Sales to Customers, Rental Companies, Online, and Others. The direct sales to customers segment dominates the market due to the surging number of manufacturers selling equipment directly to end users, helping to streamline communication, offer customized solutions, and cut costs. Further, the increasing focus on constructing relationships with clients has enhanced awareness of their needs.
Asia Pacific Construction and Mining Equipment Country Insights
The growing construction and infrastructure industry has resulted in a boom in demand for Construction and Mining Equipment in Asia Pacific in recent years. Heavy construction and mining equipment have significantly reduced the time and personnel costs of the construction business as it is used for different purposes. Moreover, China’s increasing population demand for infrastructure can enhance the market. Further, the demand for equipment can grow due to the lucrative and high-investment segments of the construction industry in China. The development of the infrastructure globally has a direct influence on the growth of construction and mining equipment. In addition, the rising investments in production capacity by prime market players, huge government spending on infrastructure, electrification of the equipment, rising urbanization, and a growing demand for construction equipment like backhoe loaders, excavators, and road machinery is generating demand in the automotive and transportation industry boosts the market growth in China.
Figure 2: ASIA PACIFIC CONSTRUCTION AND MINING EQUIPMENT MARKET SHARE BY REGION 2023 (USD Billion)
Source: The Primary Research, Secondary Research, MRFR Database and Analyst Review
Asia Pacific Construction and Mining Equipment Key Market Players & Competitive Insights
Leading market players are investing heavily in the research and development in order to extend their product lines, which will help the Construction and Mining Equipment market grow even more. Market participants are also undertaking different strategic activities to extend their footprint, with important market developments including contractual agreements, new product launches, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and sustain in a more competitive and rising market climate, the Construction and Mining Equipment industry must offer cost-effective items.
Major players in the Construction and Mining Equipment market are trying to increase market demand by investing in research and development operations, including Volvo Construction Equipment, Caterpillar Inc., Doosan Heavy Industries & Construction, J.C. Bamford Excavators Limited (JCB), Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Liebherr Group, Kobe Steel, Ltd. (Kobelco), CNH Industrial, Atlas Copco.
Key Companies in the Asia Pacific Construction and Mining Equipment market include
Asia Pacific Construction and Mining Equipment Industry Development
March 2023: The new Mining Excavator ZX670H was launched by Tata Hitachi at its Kharagpur factory in order to meet the expectations of clients for exceptional efficiency, high durability, low operating costs, easy maintenance, and higher safety and comfort.
Asia Pacific Construction and Mining Equipment Market Segmentation
Asia Pacific Construction and Mining Equipment Demand Outlook
Asia Pacific Construction and Mining Equipment Product Outlook
Asia Pacific Construction and Mining Equipment Sales Channel Outlook
Asia Pacific Construction and Mining Equipment Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 78.5 Billion |
| Market Size 2023 | USD 85.40 Billion |
| Market Size 2032 | USD 167.6 Billion |
| Compound Annual Growth Rate (CAGR) | 8.80% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Demand, Product, Sales Channel, and Region |
| Region Covered | Asia Pacific |
| Countries Covered | China, Japan, India, Australia, South Korea, Indonesia, Thailand, Vietnam, Malaysia, Singapore, Rest of Asia-Pacific |
| Key Companies Profiled | Volvo Construction Equipment, Caterpillar Inc., Doosan Heavy Industries & Construction, J.C. Bamford Excavators Limited (JCB), Komatsu Ltd., Liebherr Group, Kobe Steel, Ltd. (Kobelco), Hitachi Construction Machinery Co., Ltd., CNH Industrial, Atlas Copco. |
| Key Market Opportunities | ·        Rising adoption of advanced technologies like telematics, automation and IoT. |
| Key Market Dynamics | ·        Increasing infrastructure development projects. ·        Increasing focus on environmental sustainability and safety regulation in the region. |
Frequently Asked Questions (FAQ) :
The Asia Pacific Construction and Mining Equipment market size valued at USD 85.40 Billion in 2023.
The market is foreseen to grow at the CAGR of 8.80% throughout the forecast period, 2024-2032.
The key players in the market are Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., J.C. Bamford Excavators Limited (JCB), Kobe Steel, Ltd. (Kobelco), Doosan Heavy Industries & Construction, Caterpillar Inc., Komatsu Ltd., Liebherr Group, CNH Industrial, Atlas Copco.
The earthmoving & road building equipment category dominated the market in 2023.
The direct sale-to-customer category had the largest share of the market.
Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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