Heavy-Duty Construction Equipment Market to See Massive Growth by 2031

Heavy-Duty Construction Equipment Market is growing with a modest growth rate all across the globe. As per the Bureau of Economic Analysis, the construction industry contributed $886.6 billion to the US economy in 2019 as compared to the previous year, which was around 4.1% of the GDP in both years. The global heavy-duty construction equipment market is projected to grow at a modest CAGR of 7.0% during the forecast period. The key aspect that drives the growth of the market includes the rapid growth in the construction industry, rising government schemes, investors, and investment in transport, energy, and housing projects across the globe.

Besides, a large number of infrastructural projects going across the globe, rapid urbanization, increased investments in the construction and manufacturing industries along with geographical expansion in emerging markets, owing to these factors, there has been increased adoption of heavy construction equipment which is significantly contributing to the growth of the market over the forecast period. Further, the key players also contribute to the market growth by providing a wide variety of equipment, specifically designed for each purpose, which makes the work easier, thereby, creating lucrative opportunities for the market growth over the forecast period.

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Heavy-Duty Construction Equipment Market Segmentation

By Machinery Type

• Earth Moving Equipment
• Cranes
• Loader & Backhoe
• Telescopic Handlers
• Excavators
• Others (Graders, Trencher)
• Material Handling Equipment
• Hoists
• Conveyors
• Forklifts
• Others (Industrial Trucks)
• Other Construction Equipment
• Concrete Mixers
• Road Rollers
• Stone Crushers
• Dumpers
• Tippers & Trailers
• Others (Slurry Seal Machines)

By Applications

• Excavation & Demolition
• Heavy Lifting
• Handling
• Transportation
• Recycling & Waste Management
• Others (Tunneling)

By Industry

• Construction & Infrastructure
• Manufacturing
• Mining
• Others (Oil & Gas)

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Regional Analysis

North America

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan 
• South Korea
• Rest of APAC

Rest of the World

Company Profiles 

• ASTEC Industries Inc.
• Atlas Copco AB
• CNH Industrial NV
• Doosan Heavy Industries & Construction Co., Ltd.
• Guangxi LiuGong Machinery Co., Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Hyundai Heavy IndustriesCo. Ltd.
• JC Bamford Excavators Ltd.
• JCB
• Kobelco Construction Machinery Co. Ltd.
• Metso Corp.
• Sandvik Group
• Sany Heavy Industry Co., Ltd
• Sumitomo Heavy Industries Ltd.
• Terex Corp.
• The Manitowoc Co., Inc.
• Volvo Group
• Wirtgen Group
• XCMG Group

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