Global Heavy Equipment Market Growth 2025-2031

The global Heavy Equipment market size is predicted to grow from US$ 536360 million in 2025 to US$ 652450 million in 2031; it is expected to grow at a CAGR of 3.3% from 2025 to 2031.

Heavy equipment refers to heavy-duty vehicles, specially designed for executing construction tasks, most frequently ones involving earthwork operations. They usually comprise five equipment systems: implement, traction, structure, power train, control and information. Heavy equipment functions through the mechanical advantage of a simple machine, the ratio between input force applied and force exerted is multiplied. Some equipment uses hydraulic drives as a primary source of motion.

Global Heavy Equipment key players include Caterpillar, John Deere, KOMATSU, CNH Industrial, etc. Global top four manufacturers hold a share about 20%.

China is the largest market, with a share about 25%, followed by North America and Europe, both have a share over 40 percent.

In terms of product, Dump Truck is the largest segment, with a share over 10%. And in terms of application, the largest application is Construction, followed by Mining

Agriculture, etc.

LP Information, Inc. (LPI) ' newest research report, the “Heavy Equipment Industry Forecast” looks at past sales and reviews total world Heavy Equipment sales in 2024, providing a comprehensive analysis by region and market sector of projected Heavy Equipment sales for 2025 through 2031. With Heavy Equipment sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heavy Equipment industry.

This Insight Report provides a comprehensive analysis of the global Heavy Equipment landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heavy Equipment portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Heavy Equipment market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heavy Equipment and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heavy Equipment.

This report presents a comprehensive overview, market shares, and growth opportunities of Heavy Equipment market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Excavators
Wheel Loaders
Bulldozers
Dump Truck
Others

Segmentation by Application:
Construction
Mining
Agriculture

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Caterpillar
John Deere
KOMATSU
CNH Industrial
Kubota
Hitachi
Volvo
Liebherr
Daimler
Doosan
SANY Group
JCB
Terex
Zoomlion
Liugong
Weichai
Sinotruk

Key Questions Addressed in this Report

What is the 10-year outlook for the global Heavy Equipment market?

What factors are driving Heavy Equipment market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Heavy Equipment market opportunities vary by end market size?

How does Heavy Equipment break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.