Heavy-Duty Construction Equipment Market
Global Heavy-Duty Construction Equipment Market Size, Share & Trends Analysis Report by Machinery Type (Earth Moving Equipment (Cranes, Loader & Backhoe, Telescopic Handlers, Excavators, and Others), Material Handling Equipment (Hoists, Conveyors, Forklifts, and Others), and Other Construction Equipment (Concrete Mixers, Road Rollers, Stone Crushers, Dumpers, Tippers & Trailers, and Others), by Application (Excavation & Demolition, Heavy Lifting, Handling, Transportation, Recycling & Waste Management, and Others), and by Industry (Construction & Infrastructure, Manufacturing, Mining, and Others (Oil & Gas)) Forecast, 2021-2027
The construction industry 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 (2021-2027). 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.
Segmental Outlook
The global heavy-duty construction equipment market is segmented on the basis of machinery type, application, and industry. Based on the machinery type, the market is segmented as earth moving equipment, material handling equipment, and other construction equipment. The earth moving equipment segment includes cranes, loader & backhoe, telescopic handlers, excavators, and others. The material handling equipment segment includes hoists, conveyors, forklifts, and others. The other construction equipment includes concrete mixers, road rollers, stone crushers, dumpers, tippers & trailers, and others. The material handling equipment segment is estimated to hold a lucrative share in the market.
Based on the applications, the market is segmented as excavation & demolition, heavy lifting, handling, transportation, recycling & waste management, and others. The heavy lifting and transportation segment are likely to hold a significant market share. Based on the industry, the market is segmented as construction & infrastructure, manufacturing, mining, and others (oil & gas). The construction & infrastructure segment is estimated to hold a lucrative share in the market.
Excavation & Demolition Segment is Estimated to Hold a Lucrative Share in the Market
Amongst the application segment of the market, the excavation & demolition segment is likely to hold the most substantial share in the global market over the forecast period. The segmental growth of the market is accredited to the rise in the mining activities of precious minerals and metals by the government across the globe and rising natural calamities where excavators are used in rescue operations. Besides, urbanization is another factor that propels the need for excavation & demolition, for residential as well as commercial purposes. As per the World Urbanization Prospects by the UN, the largest urban growth will take place in India, China, and Nigeria. According to the UN, around 54% of the population lives in the urban area in 2014, which was estimated to be around 3.86 billion. It is expected to reach 66% by 2050 which will be more than 6 billion people. Hence, there is likely to be an increase in the demand for heavy-duty construction equipment over the forecast period.
Global Construction Equipment Market, by Application 2020 (%)
Regional Outlook
The global heavy-duty construction equipment market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is projected to hold a significant market share. China, India, Japan, and the Rest of the Asia-Pacific are the major economies primarily contributing to the growth of the heavy-duty construction equipment market in the region. The regional growth of the market is accredited to the various projects and infrastructural development in the region, particularly in India and China. There has been a rising number of dam construction projects, expansion of rails & road infrastructures, and residential and commercial complexes projects in the region which are driving the regional growth of the market over the forecast period. Further, the North American region is also estimated to register a substantial market value, attributing to the presence of key players across the region and the well-established construction industry in the region. The US is the second-largest construction market with an overall output of $1.581 trillion in 2018.
Global Heavy-Duty Construction Equipment Market, by Region 2020 (%)
Market Players Outlook
The prominent players functioning in the global heavy-duty construction equipment market include Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., and Kobelco Construction Machinery Co. Ltd. among others. These key market players in the heavy-duty construction equipment industry have started adopting effective market strategies such as novel product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others to enhance their profitability and competitiveness across the industry space. For instance, in August 2019, Caterpillar Inc. introduced 16 new Cat D3 series skid steer loader (SSL) and compact track loader (CTL) models. These novel models launched by the company support the line of new Smart Attachments which tailors the controls and operator information to match the task and tool.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global heavy-duty construction equipment market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Competitive Dashboard
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Caterpillar Inc.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Deere & Co.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Komatsu Ltd.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. Liebherr Group
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Heavy-Duty Construction Equipment Market by Machinery Type
5.1.1. Earth Moving Equipment
5.1.1.1. Cranes
5.1.1.2. Loader & Backhoe
5.1.1.3. Telescopic Handlers
5.1.1.4. Excavators
5.1.1.5. Others (Graders, Trencher)
5.1.2. Material Handling Equipment
5.1.2.1. Hoists
5.1.2.2. Conveyors
5.1.2.3. Forklifts
5.1.2.4. Others (Industrial Trucks)
5.1.3. Other Construction Equipment
5.1.3.1. Concrete Mixers
5.1.3.2. Road Rollers
5.1.3.3. Stone Crushers
5.1.3.4. Dumpers
5.1.3.5. Tippers & Trailers
5.1.3.6. Others (Slurry Seal Machines)
5.2. Global Heavy-Duty Construction Equipment Market by Applications
5.2.1. Excavation & Demolition
5.2.2. Heavy Lifting
5.2.3. Handling
5.2.4. Transportation
5.2.5. Recycling & Waste Management
5.2.6. Others (Tunneling)
5.3. Global Heavy-Duty Construction Equipment Market by Industry
5.3.1. Construction & Infrastructure
5.3.2. Manufacturing
5.3.3. Mining
5.3.4. Others (Oil & Gas)
6. Regional Analysis
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. ASEAN
6.3.5. South Korea
6.3.6. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. ASTEC Industries Inc.
7.2. Atlas Copco AB
7.3. CNH Industrial NV
7.4. Doosan Heavy Industries & Construction Co., Ltd.
7.5. Guangxi LiuGong Machinery Co., Ltd.
7.6. Hitachi Construction Machinery Co. Ltd.
7.7. Hyundai Heavy IndustriesCo. Ltd.
7.8. JC Bamford Excavators Ltd.
7.9. JCB
7.10. Kobelco Construction Machinery Co. Ltd.
7.11. Metso Corp.
7.12. Sandvik Group
7.13. Sany Heavy Industry Co., Ltd
7.14. Sumitomo Heavy Industries Ltd.
7.15. Terex Corp.
7.16. The Manitowoc Co., Inc.
7.17. Volvo Group
7.18. Wirtgen Group
7.19. XCMG Group
1. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY MACHINERY TYPE, 2020-2027 ($ MILLION)
2. GLOBAL EARTH MOVING EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL CRANES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL LOADER & BACKHOE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL TELESCOPIC HANDLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL EXCAVATORS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL OTHERS EARTH MOVING EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL MATERIAL HANDLING EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL HOISTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL CONVEYORS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL FORKLIFTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL OTHER MATERIAL HANDLING EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL OTHER CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL CONCRETE MIXERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL ROAD ROLLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL STONE CRUSHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL DUMPERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
18. GLOBAL TIPPERS & TRAILERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
19. GLOBAL OTHER HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
20. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
21. GLOBAL EXCAVATION & DEMOLITION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
22. GLOBAL HEAVY LIFTING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
23. GLOBAL HANDLING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
24. GLOBAL TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
25. GLOBAL RECYCLING & WASTE MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
26. GLOBAL OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
27. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2020-2027 ($ MILLION)
28. GLOBAL CONSTRUCTION & INFRASTRUCTURE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
29. GLOBAL MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
30. GLOBAL MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
31. GLOBAL OTHER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
32. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
33. NORTH AMERICAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
34. NORTH AMERICAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY MACHINERY TYPE, 2020-2027 ($ MILLION)
35. NORTH AMERICAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
36. NORTH AMERICAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2020-2027 ($ MILLION)
37. EUROPEAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
38. EUROPEAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY MACHINERY TYPE, 2020-2027 ($ MILLION)
39. EUROPEAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
40. EUROPEAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2020-2027 ($ MILLION)
41. ASIA-PACIFIC HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
42. ASIA-PACIFIC HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY MACHINERY TYPE, 2020-2027 ($ MILLION)
43. ASIA-PACIFIC HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
44. ASIA-PACIFIC HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2020-2027 ($ MILLION)
45. REST OF THE WORLD HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY MACHINERY TYPE, 2020-2027 ($ MILLION)
46. REST OF THE WORLD HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
47. REST OF THE WORLD HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2020-2027 ($ MILLION)
1. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SHARE BY MACHINERY TYPE, 2020 VS 2027 (%)
2. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
3. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SHARE BY INDUSTRY, 2020 VS 2027(%)
4. GLOBAL HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
5. US HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
6. CANADA HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
7. UK HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
8. FRANCE HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
9. GERMANY HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
10. ITALY HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
11. SPAIN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
12. ROE HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
13. INDIA HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
14. CHINA HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
15. JAPAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
16. ASEAN HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
17. SOUTH KOREA HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
18. REST OF ASIA-PACIFIC HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
19. REST OF THE WORLD HEAVY-DUTY CONSTRUCTION EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
