Heavy Construction Equipment Market Size, Segment and Growth by Forecast Period: (2021-2031)

Heavy Construction Equipment Market

Heavy Construction Equipment Market Overview

The global heavy construction equipment market is projected to grow from US$ 224.15 billion in 2024 to US$ 338.06 billion by 2031, registering a CAGR of 6.16% during the forecast period (2025–2031).

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Heavy construction equipment includes large-scale machinery and vehicles used in construction, excavation, material handling, lifting, and demolition. These machines play a crucial role in enhancing efficiency and productivity in major infrastructure and civil engineering projects.

Market Drivers

1. Government Investments in Infrastructure
• Rising funding for transportation, renewable energy, and public infrastructure in developing nations like India, Mexico, and Brazil is boosting demand.
• According to the World Bank, over US$ 3.7 trillion is invested annually in infrastructure development to support growing populations.
2. Expanding Clean Energy Sector
• Increasing global investments in clean energy infrastructure are driving market growth.
• The International Energy Agency (IEA) reports that over US$ 3 trillion was invested in clean energy projects in 2024 alone.

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, loaders)
• Material Handling Equipment
• Heavy Construction Vehicles
• Others

In 2024, the earthmoving equipment segment held the largest market share, driven by increasing infrastructure investments globally.

By Propulsion Type

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

The ICE segment dominated in 2024 due to its fuel efficiency, reliability, and established infrastructure.

By Power Output

• Less than 100 HP
• 101–200 HP
• 201–400 HP (Largest market share in 2024)
• Above 401 HP

By End-Use Industry

• Building & Construction (Largest market share in 2024)
• Forestry & Agriculture
• Energy & Power
• Mining
• Others

Market Drivers and Opportunities

1. Rising Investments in Global Construction

The construction industry is expanding rapidly, fueled by government initiatives and increasing demand for infrastructure. Key developments include:

• US: The Bipartisan Infrastructure Law allocated ~US$ 1.2 trillion for infrastructure.
• Europe: The EU infrastructure fund invested US$ 828.8 billion.
• Asia Pacific: The construction sector was valued at US$ 4.36 trillion in 2022, driven by projects in India, China, Japan, and Southeast Asia.

2. Infrastructure Growth in Emerging Economies

Countries like China, India, Brazil, and Argentina are undertaking major projects:

• China: Hong Kong-Zhuhai-Macau Bridge, Beijing Subway expansions.
• India: Smart Cities Mission, highway expansions.
• Europe: Baltic Offshore Pipeline, Crossrail project.

These initiatives are boosting demand for earthmoving and material handling equipment.

Market Size and Share Insights

Earthmoving Equipment Leads Market Growth

• Germany’s Federal Transport Plan (2030): US$ 280.68 billion investment in infrastructure.
• Electric Equipment Adoption: Volvo launched the L120 Electric Wheel Loader in Indonesia (2024), signaling a shift toward sustainable solutions.

ICE Segment Dominates Due to Efficiency & Availability

• Diesel-powered equipment remains preferred for heavy-duty applications due to:
• Higher fuel efficiency than gasoline.
• Widespread availability of diesel infrastructure.

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

The geographic scope of the Heavy Construction Equipment market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The Heavy Construction Equipment market in Asia Pacific is expected to grow significantly during the forecast period.

The heavy construction equipment market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, the Philippines, Vietnam, and the Rest of Asia Pacific. The construction sector in Asia Pacific recorded ~US$ 4.36 trillion of output in 2022, representing approximately 45% of the global construction sector. However, in January 2025, infrastructure investments related to transportation, renewable energy, and manufacturing reached US$ 21.9 billion in Singapore and Malaysia. Further, the government of New Zealand is emphasizing the development of infrastructure networks such as water and wastewater systems, road and rail networks, electricity transmission, and telecommunication infrastructure. Growing population and increasing urbanization are a few factors boosting the need to expand and upgrade important infrastructure facilities in the country. The government of New Zealand plans to offer ~US$ 47 billion for infrastructure development over the coming five years 2023-2027. The growing focus on infrastructure development is anticipated to propel the growth of construction activities, along with the application of heavy construction equipment, across the country in the coming years.

Heavy Construction Equipment Market Research Report Guidance

• The report includes qualitative and quantitative data in the Heavy Construction Equipment market across type, vehicle type, end user and geography.
• The report starts with the key takeaways (chapter 2), highlighting the key trends and outlook of the Heavy Construction Equipment market.
• Chapter 3 includes the research methodology of the study.
• Chapter 4 further includes ecosystem analysis along with Porter’s analysis.
• Chapter 5 highlights the major industry dynamics in the Heavy Construction Equipment market, including factors that are driving the market, prevailing deterrents, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
• Chapter 6 discusses the Heavy Construction Equipment market scenario, in terms of historical market revenues, and forecast till the year 2031.
• Chapters 7 to 9 covers Heavy Construction Equipment market segments by type, application and geography across North America, Europe, Asia Pacific, Middle East and Africa, South and Central America. They cover market volume revenue forecast, and factors driving the market.
• Chapter 10 describes the competitive analysis along with the heat map analysis for the key players operating in the market.
• Chapter 11 describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers, and joint ventures globally, along with a competitive landscape.
• Chapter 12 provides detailed profiles of the major companies operating in the Heavy Construction Equipment market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
• Chapter 13, i.e., the appendix is inclusive of a brief overview of the company, list of abbreviations, and disclaimer.

Heavy Construction Equipment Market News and Key Development:

The Heavy Construction Equipment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the Heavy Construction Equipment market are:

• Hitachi Construction Machinery Co., Ltd. (TSE: 6305; “Hitachi Construction Machinery”) announced the establishment of Hitachi Construction Machinery Development Center India Private Limited (“Hitachi Construction Machinery Development Center India”), a consolidated subsidiary that will develop and design construction machinery in India, in late December to strengthen the product development capabilities of the Hitachi Construction Machinery Group. The company will target and hire exceptional talent within India in the fields of IT and mechanical engineering and expand to a scale of 200 engineers and designers by FY2027. (Source: Hitachi Construction Machinery Co., Ltd, Press release, December 2024)
• HD Hyundai Construction Equipment North America has continued expansion of its HX crawler excavator product line with the availability of two new large frame mass excavators. The 82-ton HX800A L, and the 100-ton HX1000A L are designed to meet the needs of high-volume earthmoving, mining and quarrying applications. The HX800A L is powered by a 528 net hp (389 kW) engine, while the HX1000A L is equipped with a 620 net hp (420 kW) engine. (Source: HD Hyundai Construction Equipment, Press Release, August 2024)

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