Heavy Construction Equipment Market Size, Share & Trends Analysis Report By Machinery, By Application, By Propulsion, By Power Output, By Engine Capacity, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Heavy Construction Equipment Market Size, Share & Trends Analysis Report By Machinery, By Application, By Propulsion, By Power Output, By Engine Capacity, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Heavy Construction Equipment Market Growth & Trends

The global heavy construction equipment market size is expected to reach USD 289.3 billion in 2030 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. Increased investment in infrastructure has been a major factor driving market growth.

Rise in infrastructural development around the world is the key catalyst that will propel market growth over the forecast period. Infrastructural development results in increased construction activities, which eventually creates a demand for heavy duty construction equipment. Developed infrastructure boosts economic growth by assisting cross-border trade and industrial growth.

Private financing is a key way to fund infrastructural development plans. For instance, infrastructure development in India has witnessed increased participation of private players in recent years. Moreover, the Indian government has increased its budget for infrastructural development.

Heavy construction equipment market is likely to witness high demand due to various government initiatives to expand airports globally. As of January 2015, global investments for construction of airports was nearly USD 540.0 billion. For instance, news reports suggest that the total number of passengers traveling via Mumbai (India) airport has tripled in the last decade. To overcome this, the Indian government has approved an investment of USD 2 billion for the construction of the Navi Mumbai airport, which will help distribute domestic and international passengers. Development plans such as these are sure to give the global market a major boost.

Heavy Construction Equipment Market Report Highlights

• The global heavy construction equipment market size is expected to reach USD 289.3 billion in 2030 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. Increased investments in the infrastructure sector, especially in developing countries such as India, Malaysia, and Indonesia, is a key factor
• The material handling equipment segment dominated the market and accounted for a revenue share of 51.0% in 2023. The material handling equipment segment dominated the market and accounted for a revenue share of 51.0% in 2023.
• Earth moving machinery is expected to experience the fastest CAGR of 5.9% during the forecast period. This can be attributed to rise in investments to develop airports across the globe
• Asia Pacific heavy construction equipment market is anticipated to witness the fastest growth from 2024 to 2030. This can be attributed to growth of construction activities in countries such as India, Malaysia, and China

Please note The report will be delivered in 2-3 business days upon order notification.