The construction machinery market is expected to grow at a CAGR of 6.14% to reach US$125.569 billion by 2024, from US$87.808 billion in 2018. Construction machinery includes all those heavy machines used in building the infrastructure. Various developing economies are growing at an enormous rate owing to industrialization and urbanization. Governments all over the world are playing an important role by spending heavily on the development of various industries, which is one of the most important factors responsible for the burgeoning demand for construction machinery.
By the end-user industry, the construction machinery market is segmented as oil & gas, energy & power, mining, manufacturing, and others. The global structure of the construction machinery market is growing at a tremendous pace due to increasing investment in the oil and gas industry, which adds to the demand for these machines. The demand for these machines in the mining industry will witness impressive growth on account of the rising demand of base metals from the manufacturing industry worldwide. In addition, governments across the world are implementing policies that are favorable towards promoting the demand for construction machinery over the next five years.
By geography, the construction machinery market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific region will witness a significant increase in demand for construction machinery as this region is in a phase of accelerated development and various governments are spending heavily on infrastructural development to promote robust growth across industry verticals. In the Middle East, the main focus of the government is a commercial development in due to various initiatives taken by the government of some of the major countries like Saudi Vision 2030, UAE Vision 2021, and UAE Vision 2023 among many others. These initiatives include expansion of metros, construction of airports, shopping malls and new hotels which would be add to the requirement of the construction machinery so as to establish the necessary infrastructure so as to help various organizations achieve their targeted goals.
Major industry players profiled as a part of this report are Caterpillar, Komatsu, Volvo Construction Equipment, Hitachi Construction Equipment, Liebherr, Salin Manufacturing Inc., Zoomlion, Terex, Doosan Infracore, John Deere.
The construction machinery market has been analyzed through the following segments:
By End-User Industry
Oil and Gas
Energy and Power
By Construction Type
United States of America
Middle East and Africa
United Arab Emirates
Frequently Asked Questions (FAQs)
Q1. What will be the construction machinery market size by 2024?
A1. The construction machinery market is expected to reach a total market size of US$125.569 billion by 2024.
Q2. What is the size of the global construction machinery market?
A2. Construction Machinery Market was valued at US$87.808 billion in 2018.
Q3. What are the growth prospects for the construction machinery market?
A3. The construction machinery market is expected to grow at a CAGR of 6.14% during the forecast period.
Q4. Which region holds the largest market share in the construction machinery market?
A4. The Asia Pacific region will witness a significant increase in demand for construction machinery as this region is in a phase of accelerated development and various governments are spending heavily on infrastructural development to promote robust growth across industry verticals.
Q5. What factors are anticipated to drive the construction machinery market growth?
A5. Governments all over the world are playing an important role by spending heavily on the development of various industries, which is one of the most important factors responsible for the burgeoning demand for construction machinery.
1.1. Market Overview
1.2. Market Definition
1.3. Scope Of The Study
1.6. Base, And Forecast Years Timeline
2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. Market Dynamics
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power Of Suppliers
4.5.2. Bargaining Power Of Buyers
4.5.3. Threat Of New Entrants
4.5.4. Threat Of Substitutes
4.5.5. Competitive Rivalry In The Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. Construction Machinery Market By Application
5.1. Material Handling
6. Construction Machinery Market By Products
7. Construction Machinery Market By Component
8. Construction Machinery Market By End-user
9. Construction Machinery Market By Geography
9.1. North America
9.2. South America
9.3.1. United Kingdom
9.4. Middle East And Africa
9.4.1. United Arab Emirates
9.4.3. Saudi Arabia
9.5. Asia Pacific
9.5.4. South Korea
10. Competitive Intelligence
10.1. Competitive Benchmarking and Analysis
10.2. Recent Investments And Deals
10.3. Strategies Of Key Players
11. Company Profiles
11.3. Volvo Construction Equipment
11.4. Hitachi Construction Equipment
11.6. Hyundai Construction Equipment
11.9. Doosan Infracore
11.10. John Deere
List Of Figures
List Of Tables
Volvo Construction Equipment
Hitachi Construction Equipment
Saline Manufacturing Inc.
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