도시화의 진전과 인프라 개발. 이 도시화의 동향은 중요한 인프라 개발을 추진하고 있습니다. 이와 같이 인프라의 성장은 2024년에 1,836억 3,000만 달러를 돌파하며, 2031년에는 3,108억 3,000만 달러의 평가액에 달하는 시장 규모의 성장을 촉진하고 있습니다.
렌탈 서비스가 인기를 끌고 있습니다. 이러한 추세는 전 세계에서 지속될 것으로 예상되며, 건설 장비에 대한 수요를 견인하고 있습니다. 따라서 렌탈 서비스 시장의 성장은 2024-2031년 연평균 복합 성장률(CAGR) 6.80% 시장 성장을 가능하게 할 것입니다.
건설기계 시장 정의/개요
건설기계는 건설 공정의 다양한 단계에서 사용되는 다양한 특수 기계를 말하며, 일반 공구로 처리할 수 있는 범위를 훨씬 뛰어넘는 작업을 수행하도록 설계되었습니다. 이 기계들은 토목 작업, 자재 취급, 리프팅, 정밀 건설 작업과 같은 복잡한 작업을 관리하기 위해 만들어진 필수 불가결한 주력 기계입니다.
건설 기계는 일반적으로 기능에 따라 분류됩니다. 토목 기계에는 굴착기, 불도저, 로더와 같은 강력한 기계가 포함되며 현장 준비, 굴착, 도랑 파기, 자재 운반 및 기타 작업에 필수적입니다. 크레인, 지게차, 벨트 컨베이어와 같은 자재관리 장비는 건설 현장에서 자재를 효율적으로 들어 올리고, 이동하고, 배치할 수 있도록 설계되었습니다. 또 다른 범주에는 콘크리트 믹서, 포장기, 그레이더와 같은 특수 기계가 있으며, 콘크리트 타설, 도로 건설, 아스팔트 포장과 같은 특정 작업에 사용되어 높은 정확도와 효율성을 보장합니다.
적절한 건설 기계를 선택하는 것은 모든 프로젝트의 성공에 필수적입니다. 프로젝트 규모, 공사 유형, 현장 상황, 예산 등의 요소는 이상적인 기계 조합을 결정하는 데 중요한 역할을 합니다. 적절한 장비를 활용하면 건설사는 효율성을 높이고, 안전 기준을 유지하며, 고품질의 결과물을 제때에 제공할 수 있습니다.
건설기계 렌탈은 비용 효율성, 유연성, 낮은 초기 투자 비용으로 인해 많은 건설업체와 계약업체들이 선호하는 선택이 되고 있습니다. 렌탈 서비스를 선택하면 기업은 소유에 따른 경제적 부담 없이 다양한 유형의 기계에 접근할 수 있으며, 재정적 위험을 줄이면서 특정 프로젝트의 필요에 따라 작업을 확장할 수 있습니다. 또한 건설기계 애프터마켓의 성장도 시장을 더욱 활성화시켜 기계의 수명과 성능을 향상시키는 데 필수적인 유지보수, 부품 및 서비스를 제공합니다. 이러한 요인들이 복합적으로 작용하여 건설기계 시장의 확장을 촉진하고 있습니다.
유엔에 따르면 세계 인구의 68%는 2018년 55%에서 2050년까지 도시에 거주할 것으로 예측됩니다. 세계 인프라 허브(Global Infrastructure Hub)는 2040년까지 전 세계 인프라 투자 수요가 94조 달러에 달할 것으로 추정하고 있으며, 이는 건설기계에 대한 지속적인 수요를 창출하고 있습니다. 미국 렌탈협회(ARA)는 2021년 북미 렌탈 산업이 3.8% 성장하여 약 502억 달러에 달할 것으로 예상하고 있습니다.
IoT, AI, 텔레매틱스 등 기술의 통합이 시장 성장을 가속하고 있습니다. 많은 정부가 경제 성장을 가속하기 위해 인프라에 많은 투자를 하고 있습니다. 예를 들어 2021년 11월에 서명된 미국 인프라 투자 및 고용법은 8년간 1조 2,000억 달러를 인프라 지출에 할당하고 있으며, 이는 건설기계 수요를 증가시킬 것으로 예상됩니다. 환경 문제에 대한 관심은 전기 및 하이브리드 건설기계의 채택을 촉진하고 있습니다. 유럽건설기계위원회(CECE)의 보고서에 따르면 2020년 유럽내 전기 건설기계 판매량은 전염병에도 불구하고 12% 증가하여 보다 지속가능한 장비에 대한 강한 추세를 보였다고 합니다.
건설기계는 중요한 배출원입니다. 미국 환경보호청(EPA)에 따르면 건설기계를 포함한 비도로 디젤 엔진은 미국내 이동 배출원 NOx 배출량의 약 25%, 이동 배출원 디젤 PM2.5 배출량의 44%를 차지합니다. 이에 따라 많은 지역에서 엄격한 배출 기준을 도입하고 있습니다. 예를 들어 2019-2020년에 걸쳐 시행된 유럽연합의 배출가스 기준 Stage V는 기존 Stage IV에 비해 입자상 물질 배출량을 40% 감축하도록 요구하고 있습니다.
높은 건설장비 비용은 특히 중소 건설사에게 큰 장벽이 되고 있습니다. 미국종합건설협회(AGC)의 보고서에 따르면 건설업체의 75%가 1년 전보다 장비 비용이 상승했다고 응답했습니다. 보고서에 따르면 64%의 기업이 장비 임대료를 인상했으며, 61%의 기업이 장비 비용 상승에 대응하기 위해 신규 건설 프로젝트 요금을 인상했다고 합니다.
고급 건설 장비의 숙련된 작업자 부족은 시장 성장에 큰 걸림돌로 작용하고 있습니다. 미국 건설업협회(ABC)는 건설 업계가 인력 수요를 충족하기 위해서는 2022년 정상 채택 속도에 더해 약 65만 명의 추가 인력을 확보해야할 것으로 예측했습니다. 이러한 인력 부족은 건설 부문의 첨단 장비 활용 부족과 신기술 도입 지연으로 이어질 수 있습니다.
Increasing urbanization and infrastructure development. This urbanization trend is driving significant infrastructure development. Thus, the growing infrastructure surge the growth of market size surpassing USD 183.63 Billion in 2024 to reach a valuation of USD 310.83 Billion by 2031.
The rental services are gaining traction. This trend is likely to continue globally, driving demand for construction equipment. Thus, the growth in the rental services market enable the market to grow at aCAGR of 6.80% from 2024 to 2031.
Construction Equipment Market: Definition/ Overview
Construction equipment refers to a diverse range of specialized machinery used in various stages of the construction process, designed to perform tasks far beyond what ordinary tools can handle. These machines are essential workhorses, built to manage complex activities like earthmoving, material handling, lifting, and precision construction operations.
Construction equipment is typically categorized based on function. Earthmoving equipment includes powerful machines like excavators, bulldozers, and loaders, which are crucial for tasks such as site preparation, excavation, trenching, and material transport. Material handling equipment, including cranes, forklifts, and conveyor belts, is designed for efficient lifting, moving, and positioning of materials on construction sites. Another category includes specialized machinery, such as concrete mixers, pavers, and graders, used for specific tasks like concrete pouring, road construction, and asphalt paving, ensuring high precision and efficiency.
Selecting the right construction equipment is vital to the success of any project. Factors such as project scale, type of construction, site conditions, and budget play a key role in determining the ideal equipment mix. By utilizing the appropriate machinery, construction companies can enhance efficiency, maintain safety standards, and deliver high-quality outcomes on time.
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Renting equipment has become the preferred choice for many construction companies and contractors due to its cost-effectiveness, flexibility, and lower upfront investment. By opting for rental services, businesses can access a wide range of machinery without the financial burden of ownership, allowing them to scale operations as needed for specific projects while reducing financial risk. Additionally, the growth of the construction equipment aftermarket further fuels the market, providing essential maintenance, parts, and services that enhance equipment longevity and performance. Together, these factors are propelling the expansion of the construction equipment market.
According to the United Nations, 68% of the world's population is projected to live in urban areas by 2050, up from 55% in 2018. The Global Infrastructure Hub estimates that global infrastructure investment needs will reach USD 94 Trillion by 2040, creating sustained demand for construction equipment. The American Rental Association (ARA) forecasts that the equipment rental industry in North America will grow by 3.8% in 2021 to reach nearly USD 50.2 Billion.
The integration of technologies like IoT, AI, and telematics is driving market growth. Many governments are investing heavily in infrastructure to stimulate economic growth. For instance, the U.S. Infrastructure Investment and Jobs Act, signed into law in November 2021, allocates USD 1.2 Trillion for infrastructure spending over eight years, which is expected to boost demand for construction equipment. Environmental concerns are driving the adoption of electric and hybrid construction equipment. The European Construction Equipment Committee (CECE) reports that in 2020, despite the pandemic, the sale of electric construction equipment in Europe grew by 12%, indicating a strong trend towards more sustainable equipment.
The construction equipment is a significant source of emissions. According to the U.S. Environmental Protection Agency (EPA), non-road diesel engines, including construction equipment, account for approximately 25% of mobile-source NOx emissions and 44% of mobile-source diesel PM2.5 emissions in the United States. In response, many regions are implementing strict emission standards. For instance, the European Union's Stage V emission standards, which came into effect in 2019-2020, require a 40% reduction in particulate matter emissions compared to the previous Stage IV standards.
The high cost of construction equipment can be a significant barrier, especially for small and medium-sized construction companies. According to a report by the Associated General Contractors of America (AGC), 75% of construction firms report that the cost of equipment has increased compared to a year ago. The same report indicates that 64% of firms are increasing equipment rental rates, and 61% are increasing the rates they charge for new construction projects to cope with rising equipment costs.
The lack of skilled operators for advanced construction equipment is a significant restraint on market growth. The Associated Builders and Contractors (ABC) estimates that the construction industry will need to attract nearly 650,000 additional workers on top of the normal pace of hiring in 2022 to meet the demand for labor. This shortage can lead to underutilization of advanced equipment and slower adoption of new technologies in the construction sector.
The material handling equipment segment dominates the construction equipment market, driven by the increasing demand for cranes, automated guided vehicles (AGVs), forklift trucks, and telescopic handlers across various industries. These machines are essential for handling heavy construction materials and products, particularly in sectors like construction, warehousing, and logistics. The growing need for efficient material transportation and lifting solutions in large-scale infrastructure projects and warehouses is a key factor contributing to the expansion of this segment.
Cranes, AGVs, forklift trucks, and telescopic handlers are fundamental material handling machines, widely used in both construction and warehouse operations. Their versatility in managing heavy loads, enhancing productivity, and ensuring safety makes them indispensable across multiple sectors. Forklift trucks and AGVs are essential in warehousing applications, where they streamline material transport and storage processes, while cranes and telescopic handlers are crucial for lifting and placing heavy materials in construction projects.
As industries increasingly focus on optimizing operational efficiency and reducing labor costs, the demand for material handling equipment is expected to grow further. This segment's dominance in the construction equipment market is also supported by technological advancements, such as automation and telematics, which enhance equipment performance and safety, ensuring continued growth in the coming years.
The infrastructure construction segment dominates the construction equipment market, driven by increasing investments from governments and private corporations worldwide. Governments are prioritizing modern, efficient infrastructure, leading to heightened public spending on critical projects such as roads, bridges, railways, and power plants. Simultaneously, private firms, especially in sectors like renewable energy and telecommunications, are pouring resources into infrastructure development.
Urbanization further fuels this demand, as cities expand and require updated infrastructure, such as public transit systems, sewage networks, and waste management facilities. These large-scale projects rely on specialized machinery for excavation, material handling, and concrete pouring, resulting in substantial demand for construction equipment in the infrastructure sector. Additionally, many countries face the challenge of aging infrastructure in need of repair, replacement, or modernization.
Moreover, evolving safety standards necessitate updates to existing infrastructure, driving the need for advanced and specialized construction equipment. As governments and private investors continue to focus on large-scale infrastructure projects, the infrastructure construction segment is expected to maintain its dominant position in the global construction equipment market.
Asia Pacific substantially dominates in the construction equipment market driven by the Asia Pacific region experiencing unprecedented urban growth, driving demand for construction equipment. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the urban population in Asia and the Pacific is expected to grow from 2.3 billion in 2019 to 3.5 billion by 2050. This urbanization trend is fueling massive infrastructure projects. For instance, China's Belt and Road Initiative is expected to invest over USD 1 Trillion in infrastructure projects across Asia and beyond, as reported by the World Bank.
Many Asian countries are significantly increasing their infrastructure spending. For example, India's Union Budget 2021-2022 allocated INR 5.54 trillion (approximately USD 75 Billion) for capital expenditure, with a significant portion dedicated to infrastructure development. This represents a 34.5% increase from the previous year. Similarly, the Asian Development Bank (ADB) estimates that developing Asia will need to invest USD 1.7 Trillion per year in infrastructure until 2030 to maintain its growth momentum, tackle poverty, and respond to climate change.
The construction industry in Asia Pacific is witnessing robust growth. According to a report by Oxford Economics, construction output in the Asia Pacific region is forecast to grow by 5.3% in 2021 and average 4.6% per year over the rest of the decade to 2030. This growth is significantly higher than the global average and is expected to account for 40% of global construction output by 2030. China alone is projected to add USD 2.1 Trillion to its construction output between 2020 and 2030.
Europe is anticipated to witness the fastest growth in the construction equipment market during the forecast period. Europe is witnessing significant investment in infrastructure and construction projects, driving demand for construction equipment. According to the European Construction Industry Federation (FIEC), the total construction output in the EU reached €1.64 trillion in 2021, an increase of 5.8% compared to 2020. The European Commission's Recovery and Resilience Facility, part of the Next Generation EU program, is set to provide €723.8 billion in loans and grants to support reforms and investments in EU countries, with a significant portion allocated to infrastructure and construction projects.
Europe is leading the way in sustainable construction practices, which is driving demand for advanced and eco-friendly construction equipment. The European Commission reports that buildings are responsible for about 40% of the EU's energy consumption and 36% of greenhouse gas emissions. To address this, the EU has set a target to renovate 35 million buildings by 2030. This renovation wave is expected to create 160,000 additional green jobs in the construction sector, boosting demand for modern, energy-efficient construction equipment.
The competitive landscape of the Construction Equipment Market is characterized by a combination of established global players and regional competitors. The market is driven by product innovation, geographical expansion, strategic partnerships, and a focus on customer needs. The growing adoption of automation, technology, and sustainable practices presents significant opportunities for market participants.
The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the construction equipment market include: