Global Heavy Construction Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Heavy Construction Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Heavy construction equipment mainly refers to heavy machinery or vehicles, designed specifically to perform construction tasks or other earthmoving operations. Heavy construction equipment mainly includes earthmoving equipment, material handling equipment, heavy construction vehicles and other types of equipment. The main heavy equipment products include concrete machinery, excavators, cranes, road machinery, material handling machinery, etc. These heavy construction equipment are usually designed to move large amounts of soil or other materials.

Market Overview:

The latest research study on the global Heavy Construction Equipment market finds that the global Heavy Construction Equipment market reached a value of USD 215175.0 million in 2022. It’s expected that the market will achieve USD 324056.24 million by 2028, exhibiting a CAGR of 7.06% during the forecast period.

Consumers' pursuit of advanced heavy construction equipment.

Consumers around the world need more fuel-efficient and technologically upgraded equipment to enhance construction activities. The use of upgraded equipment can reduce labor costs, track the work completed at each stage of the process, and reduce operating costs. Players strive to expand their business field technology by providing products, services or solutions, and taking full advantage of the new value of ICT (information and communication technology) and IoT (Internet of Things). In addition, they are also committed to introducing advanced equipment that can not only meet customer requirements, but also overcome social and environmental problems. Therefore, end users are more attracted to these machines. This is also one of the factors driving the development of the heavy construction equipment industry.

Strict government regulations.

One of the main obstacles faced by heavy construction equipment companies is government regulations for specific regions. For a company to start large-scale construction, it needs to go through a long and rigorous process and go through various necessary inspections to obtain a license. For example, since the construction industry uses more diesel engines than any other industry, in order to meet EU emission regulations, it is necessary to collect appropriate baseline data to fully characterize the environmental conditions in the region. The survey involves cultural and historical resources, soil, vegetation, wildlife, surface and groundwater hydrology, climatology, and wetlands. Once the license is prepared and submitted to the regulatory agency, completeness and technical review will be conducted. Some stringent policies may prevent specific devices from being implemented. Strict government regulations and complicated procedures pose a challenge to the expansion of the heavy construction equipment industry and manufacturers.

Region Overview:

In 2022, the share of the Heavy Construction Equipment market in Asia Pacific stood at 50.4%.

Company Overview:

Caterpillar, Inc. is one of the major players operating in the Heavy Construction Equipment market, holding a share of 15.76% in 2023.

Caterpillar, Inc.

Caterpillar Inc. is an American corporation that designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network. Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.

Komatsu Ltd.

Komatsu Ltd. is a Japanese multinational corporation that manufactures construction, mining, forestry and military equipment, as well as diesel engines and industrial equipment like press machines, lasers and thermoelectric generators. The Komatsu Group focuses on the manufacturing and selling of construction, mining, utility, forestry, and industrial machinery.

Segmentation Overview:

As for product types, the Earthmoving Equipment segment held the largest market share in 2022.

Application Overview:

By application, the Construction and Manufacturing segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Heavy Construction Equipment market covered in Chapter 3:

Hitachi Construction Machinery Co. Ltd.
Volvoce
J C Bamford Excavators Ltd. (JCB)
Zoomlion
Liugong Machinery Co. Ltd.
Sandvic
Komatsu Ltd.
Caterpillar, Inc.
John Deere
Xuzhou Construction Machinery Group Co. Ltd
Epiroc
Kobe Steel Ltd.
Liebherr Group
Sany Heavy Industries Co. Ltd
Doosan Infracore Co. Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Heavy Construction Equipment market from 2018 to 2029 is primarily split into:

Earthmoving Equipment
Material Handling Equipment
Heavy Construction Vehicles
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Heavy Construction Equipment market from 2018 to 2029 covers:

Construction and Manufacturing
Public Work and Rail Road
Oil and Gas
Mining
Others (Forestry and Agriculture and Military)

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)