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Heavy Construction Equipment Market Analysis | 2023-2028
Heavy Construction Equipment Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
“The heavy construction equipment Market is likely to rebound at a promising CAGR of 5.1% in the long run to reach US$ 203.5 Billion in 2028”.
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Heavy construction equipment refers to a broad category of machinery designed for use in large-scale construction projects and infrastructure development. These robust and powerful machines are crucial for various tasks, contributing to the efficiency and productivity of construction operations.
The heavy construction equipment market is influenced by factors such as infrastructure development, urbanization, and the demand for efficient and advanced machinery. Technological innovations, such as the integration of telematics and automation, are transforming the industry, enhancing safety, precision, and overall project efficiency. The market plays a vital role in shaping the landscape of construction activities globally.
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Heavy Construction Equipment Market Highlights |
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Market Size in 2028 |
USD 203.5 Billion |
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Market Growth (2023-2028) |
CAGR of 5.1% |
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Base Year of Study |
2022 |
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Trend Period |
2017-2021 |
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Forecast Period |
2023-2028 |
Heavy construction equipment, a sizeable market, could not escape from such trends and witnessed a colossal decline in 2020 amid the pandemic, quite aligned with the decline in construction activities.
However, the industry gradually rebounded in the year 2021 with a global surge in infrastructure development projects, ranging from transportation systems to energy facilities, Rapid urbanization and population growth further intensified the need for new construction and renovation activities, driving the market for heavy equipment.
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The following are the key players in the Heavy Construction Equipment Market:
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
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Machinery-Type Analysis |
Earthmoving Equipment, Material Handling Equipment, and Heavy Construction Vehicles |
Material handling equipment is anticipated to remain the biggest demand generator for profile seals in the years to come. |
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Propulsion-Type Analysis |
Diesel, CNG/LNG/RNG, and Electric |
Electric is expected to be dominating as well as the fastest-growing propulsion type in the foreseen years. |
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Engine Capacity-Type Analysis |
less than 5L, 5-10L, and more than 10L |
5-10L type is anticipated to have dominance and grow at a faster rate in the upcoming years. |
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Power Output -Type Analysis |
less than 100 HP, 101-200 HP, 201-400 HP, and more than 400 HP |
Less than 100 HP type is expected to be the pioneer and fastest-growing power type in the foreseen years. |
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End-User Industry -Type Analysis |
Building and Construction, Forestry and Agriculture, Infrastructure, Mining, and Others |
Infrastructure is expected to be the dominant and the fastest-growing end-user industry during the forecast period |
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Regional Analysis |
North America, Europe, Asia-Pacific, and The Rest of the World |
Asia-Pacific is expected to remain the largest market as well as the fastest-growing over the forecast period. |
“Material handling equipment is expected to remain the largest and the fastest-growing equipment type in the market during the forecast period”.
The heavy construction equipment market is segmented into earthmoving equipment, material handling equipment, and heavy construction vehicles. Material handling equipment is expected to remain the largest and the fastest-growing equipment type in the market during the forecast period owing to several factors contributing to the critical role of material handling in construction operations.
As construction projects continue to increase in scale and complexity globally, the demand for efficient and versatile material handling solutions rises proportionately. In addition to that, the growing emphasis on productivity, safety, and precision in construction operations further contributes to the prominence of material handling equipment.
“The electric propulsion type is poised to maintain its dominance and exhibit the highest growth rate in the market during the forecast period”.
The market is segmented into diesel, CNG/LNG/RNG, and electric. The electric propulsion type is poised to maintain its dominance and exhibit the highest growth rate in the market during the forecast period since electric propulsion aligns with these environmental concerns by offering a cleaner and more energy-efficient alternative compared to traditional combustion engines.
As regulations and standards become more stringent globally, construction companies are increasingly inclined to adopt electric propulsion to comply with environmental requirements.
“5-10L engine capacity is anticipated to maintain its dominance and grow at a faster rate in the market”.
The mar"ket is segmented into less than 5L, 5-10L, and more than 10L. The anticipation of the 5-10L engine capacity maintaining its dominance and experiencing faster growth in the heavy construction equipment market can be attributed to a combination of performance, versatility, and efficiency factors. Heavy construction equipment, including excavators, bulldozers, and loaders, requires robust engines to handle demanding tasks efficiently.
“Less than 100 HP engine capacity is anticipated to maintain its dominance and grow at a faster rate in the market”.
The market is segmented into less than 100 HP, 101-200 HP, 201-400 HP, and more than 400 HP. Less than 100 HP engine capacity is anticipated to maintain its dominance and grow at a faster rate in the market owing to the increasing demand for compact and versatile construction equipment for urban and confined spaces. Additionally, advancements in technology have led to the development of more efficient and powerful engines within the less than 100 HP range.
“Infrastructure is anticipated to maintain its dominance and grow at a faster rate in the market”.
The market is segmented into building and construction, forestry and agriculture, infrastructure, mining, and others. Infrastructure is anticipated to maintain its dominance and grow at a faster rate in the market since urbanization continues to propel the demand for infrastructure, particularly in rapidly growing cities.
Governments worldwide are increasingly investing in large-scale infrastructure projects, including transportation systems, energy facilities, water management, and communication networks. The ongoing demand for modernizing and expanding infrastructure creates a sustained need for heavy construction equipment.
“Asia-Pacific is expected to remain the largest and fastest-growing market during the forecast period”.
Due to rapid urbanization and industrialization driving significant infrastructure development in many Asia-Pacific countries. Additionally, economic growth and rising disposable incomes in several Asia-Pacific nations are contributing to increased construction activities. As economies expand, there is a heightened demand for residential, commercial, and industrial structures, requiring diverse heavy construction equipment.
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This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Heavy Construction Equipment Market realities and future market possibilities for the forecast period.
The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth Analysis of the Heavy Construction Equipment Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market Segment Analysis and Forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirement? |
10% free customization |
The Heavy Construction Equipment Market is segmented into the following categories.
Heavy Construction Equipment Market, by Machinery Type
Heavy Construction Equipment Market, by Propulsion Type
Heavy Construction Equipment Market, by Engine Capacity Type
Heavy Construction Equipment Market, by Power Output Type
Heavy Construction Equipment Market, by End-User Industry Type
Heavy Construction Equipment Market, by Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
The Heavy Construction Equipment Market is estimated to grow at a CAGR of 5.1% by 2030, driven by the global surge in infrastructure development, rapid urbanization, and the growth of industries such as mining, oil and gas.
Caterpillar, CNH Industrial N.V., HD Hyundai, Hitachi Construction Machinery Co., Ltd., Komatsu, Liebherr AG, SANY Heavy Industry Co., Ltd., Terex Corporation, Volvo Group, XCMG Groupare the leading players in the heavy construction equipment market
Asia Pacific is estimated to remain dominant in the heavy construction equipment market in the foreseeable future. The key economies driving the region’s demand for automotive seals are China, India, and Japan.
Asia-Pacific is estimated to remain the fastest-growing market for heavy construction equipment Market in the foreseeable future due to the rapid urbanization and industrialization driving significant infrastructure development in many Asia-Pacific countries.
Infrastructure is anticipated to maintain its dominance in the market since urbanization continues to propel the demand for infrastructure, particularly in rapidly growing cities.
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