Heavy Construction Equipment Market to Reach $338.06 Billion by 2031, Growing at a 6.16% CAGR

The global heavy construction equipment market is projected to grow from $224.15 billion in 2024 to $338.06 billion by 2031, registering a CAGR of 6.16% from 2025 to 2031. Heavy construction equipment includes large-scale machinery used in excavation, lifting, material handling, and demolition, playing a crucial role in infrastructure and civil engineering projects.

?Download Full PDF Sample Copy of Market Report @
https://wwcw.businessmarketinsights.com/sample/BMIRE00031135

Market Drivers

• Government Investments in Infrastructure: Rising funding for transportation, renewable energy, and public infrastructure in developing nations like India, Mexico, and Brazil is boosting demand. The World Bank estimates over $3.7 trillion is invested annually in infrastructure to support growing populations.
• Expansion of Clean Energy Projects: Increased global investments in sustainable energy are fueling market growth. The International Energy Agency (IEA) reports over $3 trillion was allocated to clean energy infrastructure in 2024 alone.

This growth underscores the critical role of heavy machinery in modern construction and energy sectors, driven by urbanization and sustainability initiatives worldwide.

Heavy Construction Equipment Market: Segmentation, Drivers, and Growth Opportunities

Market Segmentation Analysis

The heavy construction equipment market is analyzed based on type, propulsion type, power output, and end-use industry.

By Machinery Type

• Earthmoving Equipment (e.g., excavators, bulldozers, loaders)
• Material Handling Equipment
• Heavy Construction Vehicles
• Others

In 2024, the earthmoving equipment segment held the largest market share, driven by increasing infrastructure investments globally.

By Propulsion Type

• Internal Combustion Engine (ICE) (Diesel/Gasoline)
• Electric

The ICE segment dominated in 2024 due to its fuel efficiency, reliability, and established infrastructure.

By Power Output

• Less than 100 HP
• 101–200 HP
• 201–400 HP (Largest market share in 2024)
• Above 401 HP

By End-Use Industry

• Building & Construction (Largest market share in 2024)
• Forestry & Agriculture
• Energy & Power
• Mining
• Others

Market Drivers and Growth Opportunities

1. Rising Global Investments in Construction

Governments worldwide are increasing infrastructure spending, fueling demand for heavy construction equipment. Key developments include:

• US: The Bipartisan Infrastructure Law allocated $1.2 trillion for infrastructure.
• Europe: The EU Infrastructure Development Fund approved $828.8 billion for projects.
• Asia-Pacific: The construction industry was valued at $4.36 trillion (45% of global share) in 2022, with major investments in India, China, Japan, and Southeast Asia.

2. Infrastructure Expansion in Emerging Economies

Countries like China, India, Brazil, and Argentina are driving demand with large-scale projects:

• China: Hong Kong-Zhuhai-Macau Bridge, Shanghai Tower, and Beijing Subway expansions.
• India: Government initiatives boosting construction and urban development.
• Europe: Projects like Baltic Offshore Pipeline (Germany), Crossrail (UK), and Evora Public Hospital (Portugal) contribute to equipment demand.

Market Size and Share Insights

Earthmoving Equipment Leads Market Growth

• Germany’s Federal Transport Infrastructure Plan 2030 includes $280.68 billion in investments, supporting demand for excavators, loaders, and bulldozers.
• Volvo CE’s electric wheel loader (L120 Electric) launch in Indonesia (2024) highlights the shift toward sustainable machinery.

ICE Segment Dominates Due to Efficiency & Availability

• Diesel-powered equipment (excavators, dump trucks, cranes) remains preferred for its fuel efficiency and operational reliability.
• However, electric construction equipment is gaining traction with advancements in battery technology.

Market leaders and key company profiles

  JC BAMFORD EXCAVATORS LTD

  AB VOLVO

  CATERPILLAR INC

  HITACHI LTD

  HYUNDAI CONSTRUCTION EQUIPMENT CO LTD

  DOOSAN CORP

  CNH INDUSTRIAL NV

  DEERE & CO

  KOMATSU LTD

  LIEBHERR

Heavy Construction Equipment Market Report Coverage and Deliverables

The "Heavy Construction Equipment Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Heavy Construction Equipment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Heavy Construction Equipment market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Heavy Construction Equipment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Heavy Construction Equipment market
• Detailed company profiles

The geographic scope of the Heavy Construction Equipment market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The Heavy Construction Equipment market in Asia Pacific is expected to grow significantly during the forecast period.

The heavy construction equipment market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, the Philippines, Vietnam, and the Rest of Asia Pacific. The construction sector in Asia Pacific recorded ~US$ 4.36 trillion of output in 2022, representing approximately 45% of the global construction sector. However, in January 2025, infrastructure investments related to transportation, renewable energy, and manufacturing reached US$ 21.9 billion in Singapore and Malaysia. Further, the government of New Zealand is emphasizing the development of infrastructure networks such as water and wastewater systems, road and rail networks, electricity transmission, and telecommunication infrastructure. Growing population and increasing urbanization are a few factors boosting the need to expand and upgrade important infrastructure facilities in the country. The government of New Zealand plans to offer ~US$ 47 billion for infrastructure development over the coming five years 2023-2027. The growing focus on infrastructure development is anticipated to propel the growth of construction activities, along with the application of heavy construction equipment, across the country in the coming years.

Heavy Construction Equipment Market Research Report Overview

This comprehensive report provides qualitative and quantitative analysis of the Heavy Construction Equipment Market, segmented by type, vehicle type, end-user, and geography.

Report Structure

1. Key Takeaways (Chapter 2)
• Summarizes major market trends, insights, and future outlook.
2. Research Methodology (Chapter 3)
• Details the approach, data sources, and analytical methods used in the study.
3. Ecosystem & Porter’s Analysis (Chapter 4)
• Examines industry dynamics, key stakeholders, and competitive forces shaping the market.
4. Market Dynamics (Chapter 5)
• Identifies drivers, restraints, opportunities, and emerging trends.
• Includes impact analysis of key market influences.
5. Historical & Forecast Market Analysis (Chapter 6)
• Evaluates past revenue trends and provides projections up to 2031.
6. Market Segmentation (Chapters 7-9)
• Breaks down the market by:
• Type (e.g., excavators, loaders, bulldozers)
• Application (construction, mining, agriculture)
• Geography (North America, Europe, Asia-Pacific, Middle East & Africa, South & Central America)
• Includes revenue forecasts and growth drivers for each segment.
7. Competitive Analysis (Chapter 10)
• Features heatmap analysis of leading market players.
8. Industry Landscape (Chapter 11)
• Covers market initiatives, mergers, acquisitions, partnerships, and competitive strategies globally.
9. Company Profiles (Chapter 12)
• In-depth analysis of key companies, including:
• Business overview
• Product portfolio
• Financial performance
• SWOT analysis
• Recent developments
10. Appendix (Chapter 13)
• Includes abbreviations, company snapshots, and disclaimers.

Recent Industry Developments

The Heavy Construction Equipment Market is evolving with technological advancements and strategic expansions. Key developments include:

• Hitachi Construction Machinery (Dec 2024) established Hitachi Construction Machinery Development Center India to enhance R&D capabilities, aiming to employ 200 engineers by 2027 to strengthen its product development in IT and mechanical engineering. (Source: Hitachi Press Release)
• HD Hyundai Construction Equipment (Aug 2024) expanded its HX crawler excavator line with two new models:
• HX800A L (82-ton, 528 HP)
• HX1000A L (100-ton, 620 HP)
  Designed for mining, quarrying, and large-scale earthmoving applications. (Source: HD Hyundai Press Release)

This report combines primary and secondary research, leveraging corporate publications, industry databases, and association data to deliver actionable insights into the Heavy Construction Equipment Market.

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights