이 조사 보고서는 5개 주요 지역의 주요 5개 지역의 건설기계 시장을 상세하게 분석했으며, 현재 시장 동향, 시장 규모, 시장 점유율, 최근 동향, 2031년까지의 예측 등을 정리하여 전해드립니다.
건설기계 시장은 2024년부터 2031년까지 5.3%의 연평균 복합 성장률(CAGR)로 성장하여 2031년까지 2,369억 달러 이상에 달할 것으로 예상됩니다.
건설 및 인프라 개발에 대한 정부 지출 증가와 전체 건설 프로젝트의 효율성, 생산성, 안전성을 높이기 위한 수요 증가가 이 시장의 성장을 가속하고 있습니다. 또한, 건설기계의 자동화가 진행됨에 따라 시장 성장 기회가 창출될 것으로 예상됩니다. 그러나 엄격한 국제 무역 정책 및 의무, 높은 건설기계 비용으로 인해 시장 성장이 제한되고 있습니다. 또한 숙련된 장비 운영자의 부족은 시장 성장에 영향을 미치는 주요 과제입니다.
또한, 소형 건설기계에 대한 수요 증가와 전기 건설기계의 채택 증가는 건설기계 시장에서 두드러진 추세입니다.
Construction Equipment Market by Type (Material Handling, Earth Moving, Concrete and Road Construction, Others), Propulsion Type (ICE, Electric, Others), End User (Construction, Government, Private Contractor, Others), Geography-Forecasts to 2031.
The research report titled 'Construction Equipment Market by Type (Material Handling, Earth Moving, Concrete and Road Construction, Others), Propulsion Type (ICE, Electric, Others), End User (Construction, Government, Private Contractor, Others), Geography-Forecasts to 2031' provides an in-depth analysis of the construction equipment market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.
The construction equipment market is projected to reach over $236.9 billion by 2031, at a CAGR of 5.3% from 2024 to 2031.
The growth of this market is driven by increasing government spending on construction and infrastructure development and the increasing need to enhance efficiency, productivity, and safety across construction projects. Furthermore, the increasing automation of construction equipment is expected to create market growth opportunities. However, stringent international trade policies and mandates and the high costs of construction equipment restrain the market's growth. Additionally, the lack of skilled equipment operators is a major challenge impacting the market's growth.
Furthermore, the increasing demand for compact construction equipment and the rising adoption of electric construction equipment are prominent trends in the construction equipment market.
The construction equipment market is segmented based on type (material handling equipment (forklifts, cranes, conveyors, hoists, and other material handling equipment), concrete and road construction equipment (concrete mixer & pavers, construction pumps, road rollers, and other concrete and road construction equipment), earth-moving equipment (excavators, loaders (backhoe loaders, skid steer loaders, crawler/track loaders, and wheeled loaders), motor graders, bulldozers, trencher, motor scrapers, and other earth-moving equipment), and other construction equipment), propulsion type (ICE, electric and CNG/LNG), end user (construction companies, government agencies, private contractors, aerospace & defense companies, mining companies, and other end users). The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on type, the construction equipment market is segmented into material handling equipment, concrete and road construction equipment, earth-moving equipment, and other construction equipment. In 2024, the material handling equipment segment is expected to account for the largest share of 40.0% of the construction equipment market. This segment's large market share can be attributed to several factors, including the rapid pace of industrialization worldwide, ongoing modernization efforts in industrial infrastructures & facilities to increase production capacity, and the increasing demand for material handling equipment to facilitate smooth material movement, reduce reliance on manual labor, and enhance overall productivity. Moreover, market players' rising focus on product launches and enhancement contributes to the segment's growth. For instance, in October 2023, Hyundai Construction Equipment India strengthened its position in the infrastructure, mining, and material handling industry by launching multiple products, including four excavator models, two forklift models, and two-wheel loaders.
However, the earth-moving equipment segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by increasing investments in residential, commercial, and industrial construction projects and the rising demand for earth-moving equipment for various purposes, including laying foundations, grading soil, removing dirt & rocks, digging trenches, and conducting demolition works. This increase in demand has prompted partnerships among various market players to expand their offerings. For instance, in January 2022, CanLift Equipment Ltd. (Canada) expanded its product line for construction machinery equipment through a strategic partnership with Xuzhou Construction Machinery Group Co., Ltd (China). This partnership aimed to enhance the sales of earth-moving equipment in Ontario.
Based on propulsion type, the construction equipment market is segmented into ICE, electric, and CNG/LNG. In 2024, the ICE segment is expected to account for the largest share of 53.0% of the construction equipment market. This segment's large market share can be attributed to several factors, including the ease of use and high power-to-weight ratio offered by ICE construction equipment, the lower cost of ICE construction equipment compared to electric alternatives, and the increasing initiatives by market players to expand their product portfolios. For instance, in January 2023, Crown Equipment Corporation (U.S.) expanded its lift truck portfolio by launching IC and electric counterbalance forklifts capable of carrying up to 5.5 tons.
However, the electric segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the benefits offered by electric construction equipment, including lower operating expenses and minimal maintenance requirements. Additionally, supportive government initiatives aimed at promoting the adoption of electric construction equipment and the rising focus of market players on product launches and enhancement contribute to the growth of this segment. For instance, in February 2023, Action Construction Equipment Ltd. (India) announced the launch of its electric crane with a lifting capacity of 180 tons.
Based on end user, the construction equipment market is segmented into construction companies, government agencies, private contractors, aerospace & defense companies, mining companies, and other end users. In 2024, the construction companies segment is expected to account for the largest share of 55.0% of the construction equipment market. This segment's large market share can be attributed to the increasing investments in infrastructure development globally, the growing adoption of advanced equipment by construction companies to enhance the speed and efficiency of construction projects, and the shortage of labor in the construction sector.
Moreover, the construction companies segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing investments by leading companies in developing advanced construction equipment. For instance, in September 2023, Skanska (Sweden), a prominent construction and development firm, initiated a pilot project involving the use of a zero-emissions electric excavator on the Los Angeles Metro's Purple (D Line) Extension Transit Project. The Volvo EC230, the largest electric excavator of its kind, is specifically designed to match the capabilities of a diesel excavator.
Based on geography, the construction equipment market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 45.0% of the construction equipment market. Asia-Pacific's significant market share can be attributed to the increasing investments in construction projects, a rising focus on sustainability, efficiency, and safety within the construction industry, rapid growth in the real estate sector, and the expansion of rail and road infrastructure across the APAC region.
Moreover, the market in Asia-Pacific is projected to register the highest CAGR of 7.0% during the forecast period. The growth of this regional market can be attributed to the increasing demand for sustainable construction equipment and the rising initiatives by key market players to expand their presence in the region. For instance, in July 2023, Volvo Construction Equipment (Volvo CE) (Sweden) established a dealership in Kuching, Sarawak, located on the island of Borneo, to cater to the rising demand from Malaysian customers.
The key players operating in the construction equipment market are Caterpillar (U.S.), CNH Industrial N.V. (U.K.), Deere & Company (U.S.), Doosan Corporation (South Korea), Hitachi Construction Machinery Co., Ltd. (Japan), J C Bamford Excavators Ltd. (U.K.), Komatsu Ltd. (Japan), KUBOTA Corporation (Japan), LIEBHERR (Switzerland), Volvo Group (Sweden), SANY Group (China), MANITOU Group (France), Wacker Neuson SE (Germany), Terex Corporation (U.S.), and Hyundai Construction Equipment Co., Ltd. (South Korea)
Construction Equipment Market Assessment-by Type
Construction Equipment Market Assessment-by Propulsion Type
Construction Equipment Market Assessment-by End User
Construction Equipment Market Assessment-by Geography