Heavy Construction Equipment Market Research Report - Global Forecast 2030

Heavy Construction Equipment Market Research Report: Information By Type (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles and Others Heavy Construction Equipment), By Application (Infrastructure, Commercial Buildings and Residential Buildings), By End-User (Oil & Gas Industry, Construction Industry, Military and Mining) - Forecast till 2030

ID: MRFR/CO/0210-CR | July 2020 | Region: Global | 125 Pages         

Heavy Construction Equipment Market

Heavy Construction Equipment Market is projected to be worth USD 346.36 Billion by 2030, registering a CAGR of 7.5% during the forecast period (2022 - 2030), The market was valued at USD 194.20 billion in 2021.

Segmentation

By Type Earthmoving Equipment Material Handling Equipment Heavy Construction Vehicles
By Application Infrastructure Commercial Buildings Residential Buildings
By End-User Oil & Gas Industry Construction Industry Military And Mining

Key Players

  • Hitachi Machinery Construction (Japan)
  • CNH (U.K.)
  • Liebherr AG (Switzerland)
  • Caterpillar Inc. (U.S.)
  • Hyundai Heavy Industries (South Korea)
  • Doosan Infracoe (South Korea)
  • Kobelco Construction Machinery
  • John Deere(U.S.)
  • Komatsu (Japan)
  • JCB (U.K.)

Drivers

  • Increasing number of heavy construction equipment rentals and service industry across the globe
  • Rising urbanization
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Heavy Construction Equipment Market Overview:


Heavy Construction Equipment Market is projected to be worth USD 346.36 Billion by 2030, registering a CAGR of 7.5% during the forecast period (2022 - 2030), The market was valued at USD 194.20 billion in 2021.


Heavy Construction Equipment Market overview:


 


The increasing demand for infrastructure and automated technologies in the construction and manufacturing procedures were significantly impacting the overall growth of the heavy construction equipment industry. Moreover, the developing countries were focusing on developing the roads and cities. Moreover, the developed countries were inclined to utilize cost-effective machinery that also comply with the environment-related regulations that emit minimal emissions. Such factors are increasing the heavy construction equipment market value in recent years. Traditional and mechanical vehicles are increasingly replaced with electric and hybrid vehicles that are more efficient in terms of operation and fuel. 


 


However, on the other side, the renting and leasing of the construction equipment were increasing across the globe as the cost of ownership was increasing. The maintenance and the requirement of the skilled professionals were effectively eliminated on renting the heavy construction equipment. Such factors have increased the number of heavy construction equipment rentals across the globe. The growing number of heavy construction equipment rentals and service companies are highly influencing the overall growth of the heavy construction equipment industry in recent times. 


 


COVID 19 Analysis:


 


The widespread of COVID 19 has significantly affected the construction industry across the globe and several negative impacts of the pandemic were visible across several industries including the construction industries. Since several manufacturing industries and electronic manufacturers have reduced or stopped their key industrial procedures, the development and manufacturing related to the heavy construction equipment industry were affected. Moreover, the unavailability of the raw materials that are required for the manufacturing of the heavy construction equipment was not shipped to the manufacturing verticals due to the restrictions imposed on the logistics. Such factors have reduced the heavy construction equipment market value across the globe. 


 


Market dynamics:


 


Market drivers:


 


The increasing number of heavy construction equipment rentals and service industry across the globe owing to the benefits associated with renting heavy construction equipment other than owning them has led to the growth of the rental and services companies in recent years. Additionally, those companies are increasingly updating their equipment series with the advancing technologies in recent years. Such factors are fuelling the overall growth of the heavy construction equipment industry.


 


With the advent of several developing technologies, digitalization, automation and connectivity are significantly impacting the overall growth of the heavy construction equipment industry. Rising demand for building and construction activities and the increasing mining exploration across the potential regions are also propelling the overall growth of the heavy construction equipment industry.


 


Market opportunities:


 


The increasing involvement of the private and real estate sectors which is combined with the favorable economic conditions are presents a favorable condition for the overall growth of the heavy construction equipment industry. Moreover, the increasing demand for the development of residential and commercial infrastructures is presenting lucrative opportunities for the heavy construction equipment market growth. 


 


The increasing initiatives from the governmental organizations for the growth of public infrastructural development in recent years are presenting lucrative opportunities for the overall growth of the heavy construction equipment industry. For instance, the Indian government has been increasingly investing in road developments, the development of railway tracks, and other infrastructural development activities that demand the utilization of heavy construction equipment.


 


Market restraints:


 


The changing price of the oil and the fuel to run the heavy machinery and the increasing carbon footprint while running the machines are considered as the primary restraining factor for the overall growth of the heavy construction equipment industry.


 


The governments of the developing countries are increasingly imposing regulations that focus on the amount of emission left out. Such factors are affecting the overall growth of the heavy construction equipment industry.


 


Market challenges:


 


The maintenance and the operational costs incurred for major projects and construction activities are considered as the major challenge for the overall growth of the heavy construction equipment industry.


 


The lack of skilled professionals and the lower efficiency of the high-impact machines to operate at lower costs are rarely available in developing countries. Such factors are also considered as the major challenge for the overall growth of the heavy construction equipment industry.


 


Cumulative growth analysis:


 


The advent of advanced technologies in the heavy construction equipment industry and the technologies such as smart technology, internet-enabled, fuel, and energy-efficient machines, and other technologies are impacting the overall growth of the heavy construction equipment industry in recent years. Moreover, the increasing industrialization and infrastructural activities in the countries such as China, and India with the aid of government support are presenting opportunities for the overall growth of the heavy construction equipment industry during the forecast period. Heavy Construction Equipment Market is projected to be worth USD 346.36 Billion by 2030, registering a CAGR of 7.5% during the forecast period (2022 - 2030), The market was valued at USD 194.20 billion in 2021.The government of the major countries like Saudi Arabia, UAE is focusing on developing the health care sectors and tourism which are also propelling the overall growth of the heavy construction equipment industry in recent years.


 


Value chain analysis:


 


The increasing urbanization and industrialization activities in some of the developing countries and the favorable government initiatives are highly supporting the operations. Moreover, the developing countries are intensively focusing on developing smart cities and sophisticated buildings. Such operations highly impact the overall growth of the heavy construction equipment industry. 


 


The rising development in the building and construction activities combined with the increasing exploration of the mining activities is impacting the overall growth of the heavy construction equipment industry. 


 


As the demand for construction and exploration activities increases, the established players of the heavy construction equipment industry are focusing on investing in advanced, smart, and fuel-efficient technologies to carry out the procedures with minimal labor and costs. Such factors are fortifying the overall growth of the heavy construction equipment industry in recent years.


 


Segment overview:


 


Based on equipment type:


 



  • Earthmoving equipment,

  • Excavators

  • Loaders

  • Backhoe loaders

  • Motor graders

  • Material handling



  • Cranes

  • Telescopic handlers



  • Heavy construction vehicles



  • Dumpers 

  • Tippers



  • Others



  • Compactors

  • Pavers


 


Based on application:


 



  • Excavation & demolition

  • Heavy lifting

  • Tunneling

  • Material handling

  • Recycling

  • Waste management.


 


Based on end-user industries:


 



  • Infrastructure

  • Construction

  • Mining

  • Oil and gas

  • Manufacturing

  • Forestry 

  • Agriculture

  • Others 


 


Regional analysis:


 


The Asia-pacific region is showcasing a higher growth rate when compared to other regions and is expected to showcase a healthy CAGR of 5.6% during the forecast period. The favorable economic development of the regions and the presence of established market players across the region and their inclination towards adopting the innovations of the industry is fuelling the overall growth of the heavy construction equipment industry. 


 


European countries are also gradually increasing in the heavy construction equipment market value in recent times, owing to the upcoming plans and initiatives regarding the various construction projects. Some of the major projects include, port extension, underwater tunnels that connect the major parts of European countries, and significant others are presenting lucrative opportunities for the overall growth of the heavy construction equipment industry during the forecast period. 


 


Competitive landscape:


 



  • SANY Group

  • XCMG Group

  • Volvo Construction Equipment

  • John Deere

  • Hitachi Construction Machinery, Co., Ltd.

  • Komatsu Ltd.

  • Liebherr

  • Caterpillar Inc.

  • Hyundai Doosan Infracore

  • JCB


 


Recent developments:



In the year 2021, one of the leading manufacturers, Infra markets had joined hands with established Hyderabad-based heavy construction equipment rentals. This acquisition has paved way for meeting the end-less demands for the equipment and service requirements.



In the year 2019, one of the leading market players, the caterpillar has introduced the 16 Cat D3 series skid steer loader (SSL) and a compact track loader models (CTL) These models are efficient in supporting the attachments and are equipped with the enclosed cabs and a designed ergonomically for the operator leaving a comfortable space for operating. These series are considered to have minimal machine pitching and rocking and yet offer supreme ride comfort.


 


In the year 2019, one of the leading market players, JCB has introduced the Hydraload 555-210 R telehandler which is a rotating telescopic handler that features a supreme lifting capacity with the aid of Eco MAX engines and is suitable for intense earthmoving operations and can lift the weight over 5.5 tons over 20 meters. 


 


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


Segmentation Table:


 


Based on equipment type:


 



  • Earthmoving equipment,

  • Excavators

  • Loaders

  • Backhoe loaders

  • Motor graders

  • Material handling



  • Cranes

  • Telescopic handlers



  • Heavy construction vehicles



  • Dumpers 

  •  



  • Others



  • Compactors

  •  


 


Based on application:


 



  • Excavation & demolition

  • Heavy lifting

  • Tunneling

  • Material handling

  • Recycling

  • Waste management.


 


Based on end-user industries:


 



  • Infrastructure

  • Construction

  • Mining

  • Oil and gas

  • Manufacturing

  • Forestry 

  • Agriculture

  • Others  



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 346.36 Billion
  CAGR   7.5% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Hitachi Machinery Construction (Japan), CNH (U.K.), Liebherr AG (Switzerland), Caterpillar Inc. (U.S.), Hyundai Heavy Industries (South Korea), Doosan Infracoe (South Korea), Kobelco Construction Machinery Ltd. (U.S.), John Deere & Co. (U.S.), Komatsu (Japan), and JCB (U.K.)
  Key Market Opportunities   Renting/Leasing of Equipment
  Key Market Drivers

  • Rising urbanization
  • Increasing large-scale investments


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    Frequently Asked Questions (FAQ) :

    • John Deere • Hitachi Construction Machinery, Co., Ltd. • Komatsu Ltd. • Liebherr • Caterpillar Inc. • Hyundai Doosan Infracore • JCB

    • Infrastructure • Construction • Mining • Oil and gas • Manufacturing • Forestry • Agriculture

    Heavy Construction Equipment Market is projected to be worth USD 346.36 Billion by 2030, registering a CAGR of 7.5% during the forecast period (2022 - 2030), The market was valued at USD 194.20 billion in 2021.

    • Excavators • Loaders • Backhoe loaders • Motor graders