The Heavy Construction Equipment Market size is expected to reach US$ 338.06 billion by 2031 from US$ 224.15 billion in 2024. The market is estimated to record a CAGR of 6.16% from 2025 to 2031.

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Executive Summary and Global Market Analysis:

Heavy construction equipment refers to large machinery and vehicles used in construction projects to carry out tasks such as excavation, lifting, material handling, and demolition. These machines are essential for large-scale construction and civil engineering projects, providing efficiency and productivity on job sites. The increasing government funding projects in transportation, renewable energy, and public infrastructure sectors across developing countries such as India, Mexico, and Brazil drive the demand for heavy construction equipment. According to the World Bank, per year, more than US$ 3.7 trillion is invested in infrastructure development to meet the growing demand of growing global populations. The rise in global investments in the clean energy sector is also a major driving factor for the heavy construction equipment market. According to the International Energy Agency, more than US$ 3 trillion invested in 2024 for clean energy related infrastructure developments across the globe.

Heavy Construction Equipment Market: Segmentation, Drivers, and Opportunities

Market Segmentation Analysis

The heavy construction equipment market is analyzed based on type, propulsion type, power output, and end-use industry.

By Machinery Type

• Earthmoving Equipment (e.g., excavators, bulldozers, backhoe loaders, wheel loaders)
• Material Handling Equipment
• Heavy Construction Vehicles
• Others

In 2024, the earthmoving equipment segment dominated the market, driven by increasing infrastructure investments globally.

By Propulsion Type

• Internal Combustion Engine (ICE) (Diesel/Gasoline)
• Electric

The ICE segment held the largest market share in 2024 due to its fuel efficiency, reliability, and established infrastructure.

By Power Output

• Less than 100 HP
• 101–200 HP
• 201–400 HP
• Above 401 HP

The 201–400 HP segment led the market in 2024, balancing power and operational efficiency for most construction applications.

By End-Use Industry

• Building & Construction
• Forestry & Agriculture
• Energy & Power
• Mining
• Others

The building & construction segment accounted for the largest share in 2024, fueled by urbanization and government infrastructure projects.

Market Drivers and Opportunities

1. Rising Global Investments in Construction

Governments worldwide are increasing infrastructure spending, boosting demand for heavy construction equipment. Key developments include:

• US: The Bipartisan Infrastructure Law allocated $1.2 trillion for infrastructure.
• Europe: The EU Infrastructure Development Fund invested $828.8 billion.
• Asia Pacific: The construction industry was valued at $4.36 trillion (2022), driven by rapid urbanization in India, China, and Southeast Asia.

2. Infrastructure Growth in Emerging Economies

Countries like China, India, Brazil, and Argentina are undertaking large-scale projects, such as:

• China: Hong Kong-Zhuhai-Macau Bridge, Shanghai Tower.
• India: Expansion of metro networks, highway projects.
• Europe: Baltic Offshore Pipeline, Crossrail.

These initiatives create significant opportunities for heavy construction equipment manufacturers.

Market Size and Share Insights

Earthmoving Equipment Leads Market Growth

• The segment’s dominance is attributed to rising infrastructure projects, such as Germany’s $280.68 billion Federal Transport Infrastructure Plan (2016–2030).
• Manufacturers are introducing electric models (e.g., Volvo’s L120 Electric Wheel Loader launched in Indonesia).

ICE Segment Maintains Dominance

• Diesel-powered equipment remains preferred due to fuel efficiency, power, and availability.
• However, electric construction equipment is gaining traction with sustainability initiatives.

Outlook

The market is expected to grow further, supported by government investments, urbanization, and technological advancements in electric and autonomous machinery.

This analysis highlights key trends shaping the heavy construction equipment market, emphasizing growth drivers, segment dominance, and future opportunities.

Market leaders and 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 Heavy Construction Equipment Market is analyzed across 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 significant growth during the forecast period.

Asia Pacific Market Segmentation

The Asia Pacific heavy construction equipment market is segmented into:

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

In 2022, the region's construction sector generated ~US$ 4.36 trillion, accounting for ~45% of global construction output.

Key Infrastructure Investments Driving Growth

• Singapore & Malaysia: In January 2025, infrastructure investments in transportation, renewable energy, and manufacturing reached US$ 21.9 billion.
• New Zealand: The government is prioritizing infrastructure development, including:
• Water & wastewater systems
• Road & rail networks
• Electricity transmission & telecommunications
• A planned investment of ~US$ 47 billion over 2023–2027 to support urbanization and population growth.

These developments are expected to boost construction activities and increase demand for heavy construction equipment in the region.

Heavy Construction Equipment Market Report Structure

1. Key Takeaways (Chapter 2) – Highlights market trends and outlook.
2. Research Methodology (Chapter 3) – Details the study’s approach.
3. Ecosystem & Porter’s Analysis (Chapter 4) – Examines market dynamics.
4. Industry Dynamics (Chapter 5) – Covers:
• Market drivers, restraints, opportunities, and future trends
• Impact analysis of key factors
5. Market Scenario (Chapter 6) – Historical and forecasted revenues (up to 2031).
6. Market Segmentation (Chapters 7–9) – By type, application, and region, including revenue forecasts and growth factors.
7. Competitive Analysis (Chapter 10) – Heat map analysis of key players.
8. Industry Landscape (Chapter 11) – Covers market initiatives, mergers, joint ventures, and competitive developments.
9. Company Profiles (Chapter 12) – In-depth analysis of major players, including:
• Business overview, financials, SWOT analysis, and key developments
10. Appendix (Chapter 13) – Includes abbreviations, disclaimer, and company snapshot.

Recent Market Developments

• Hitachi Construction Machinery (Dec 2024)
• Established Hitachi Construction Machinery Development Center India to enhance R&D capabilities.
• Plans to hire 200 engineers & designers by FY2027 to strengthen product development.
• HD Hyundai Construction Equipment (Aug 2024)
• Expanded its HX crawler excavator line with two new models:
• HX800A L (82-ton, 528 hp)
• HX1000A L (100-ton, 620 hp)
• Designed for mining, quarrying, and large-scale earthmoving.

These developments highlight the growing innovation and expansion in the heavy construction equipment market, particularly in Asia Pacific.

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