The new report by EMR titled, ‘Global Heavy Construction Equipment Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global heavy construction equipment market, assessing the market based on its segments like type, application, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 170 billion
- Forecast CAGR (2021-2026): 6.2%
- Forecast Market Size (2026): USD 244 billion
The market for heavy construction equipment has seen substantial growth due to factors such as increasing government investment in construction activity. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the heavy construction equipment market. However, it is a likely obstacle to the growth of this market to cross strict region-specific government regulations. Even though, because of their rapidly increasing economies and an upgrade of infrastructure, demand for larger construction sites is very high in developing countries such as China. Governments around the world invest heavily on physical and social infrastructure, generating more employment around the globe in order to generate greater demand for goods and services. As these developing economies are hosting world events in the forecast period, such as Qatar hosting the 2022 FIFA World Cup and Japan hosting the 2020 Summer Olympics (postponed to 2021), the heavy construction equipment market is expected to see substantial growth over the forecast period in these regions. Large-scale infrastructure investment is projected to rise in the coming decade, moving the demand forward over the forecast period.
Industry Definition and Major Segments
Large-scale machinery is known as heavy construction equipment, which is used to minimize the need for manpower and improve productivity on a large scale, while also minimizing process time limits. They are used in a number of industries, including oil and gas, manufacturing, military, mining, agriculture, and forestry. There is also a rising demand for heavy construction equipment in various other industries, such as infrastructure, commercial buildings, and residential buildings.
Based on the type, the industry is divided into:
- Earth Moving Equipment
- Heavy Construction Vehicles
- Material Handling Equipment
Based on the application, the industry is divided into:
- Heavy Lifting
- Material handling
- Transportation
- Excavation and Demolition
- Tunneling
- Recycling and Waste Management
Based on the end use, the industry is divided into:
- Mining
- Infrastructure
- Forestry and Agriculture
- Construction and Manufacturing
- Vehicle Transport
- Public Works
The regional markets for heavy construction equipment include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Geographically, In the historical era, Asia Pacific held the largest market share and is projected to do so in the forecast period as well. This is due to the government’s supportive policies and strong investment in these areas by governments to push the heavy construction equipment market. A leading driver of this market is the rising demand for heavy construction equipment in China because of its robust manufacturing sector. In addition, growing investment by governments in the heavy construction equipment industry, such as excavators, loaders, etc., is expected during the forecast period to drive the market forward.
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Companies around the world are expecting a very high potential for growth in the Asia Pacific region’s developing economies and are investing heavily in the region’s heavy construction equipment industry. Moreover because the construction industry uses more diesel engines than any other industry, proper baseline data are collected to properly define the environmental condition of the region in order to comply with EU emissions regulations. Cultural and historical resources, soil, plants, biodiversity, surface & groundwater hydrology, climatology, and wetlands are the focus of surveys. When the permit is prepared and submitted to the regulatory body, completeness and technical checks are performed.
Key Market Players
The major players in the market Deere & Company., Komatsu Ltd., AB Volvo, Doosan Infracore Co., Ltd., Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., Liebherr-International AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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