Heavy Construction Equipment Market 2023-2030 is Growing fast With High Profile Players | CNH, Liebherr AG, Caterpillar Inc, Hyundai Heavy Industries

Heavy Construction Equipment Market size was valued at USD 194248.5 million in 2021. The heavy construction equipment industry is projected to grow from USD 208817.13 Million in 2022 to USD 346437.89 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2022 – 2030).

The heavy construction equipment market is gaining momentum in the modern construction industry due to geographical expansion in emerging markets. The adoption of heavy construction equipment offers lucrative opportunities for a market player in the next 10 years. Other factors driving the global market are rapid urbanization and increased investments in the construction and manufacturing industry.  

The excavation & demolition segment of the market is estimated to dominate the heavy construction equipment market and is projected to be the fastest-growing segment during the forecast period. The CAGR for the segment is projected to grow at a higher rate over the next five years, and the main reason behind this is the increase in mining activities of precious minerals and metals across the global market premises followed by the increase in natural calamities where excavators are used in rescue operations.

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Market Segmentation

The heavy construction equipment market has been segmented based on the following for a more comprehensive global functioning and meeting the rising needs of a global target audience:

By type:

• Earthmoving equipment
• Material Handling Equipment
• Heavy construction vehicles
• Others ( Pavers/Asphalt Finishers/Compactors and Road Rollers)

By application:

• Excavation & demolition
• Heavy lifting
• Material Handling
• Tunneling
• Transportation
• Recycling & waste management

By end-use sector:

• Construction & manufacturing
• Oil & gas
• Public works & railroad
• Infrastructure
• Mining
• Forestry & agriculture
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

Regional Analysis

In 2015, Asia-Pacific accounted for a larger market share of the total heavy construction equipment market in value, followed by the Middle East & Africa. The European market is projected to grow at a comparatively lower rate than other regions due to weak construction demand due to sub-performing economic conditions. Asia-Pacific is projected to register the highest growth from 2016 to 2021, while India is the fastest-growing country-level market in the region for the global market. The Middle-East & Africa region will attain the second-highest CAGR during the period. South Africa will register the highest growth rate in the region.

The key players in the market are as follows:

• Hitachi Machinery Construction (Japan)
• CNH (U.K.)
• Liebherr AG (Switzerland)
• Caterpillar Inc. (U.S.)
• Hyundai Heavy Industries (South Korea)
• Doosan Infracoe (South Korea)
• Kobelco Construction Machinery
• John Deere(U.S.)
• Komatsu (Japan)
• JCB (U.K.), among others

Industry News

• In June 2016, one of the prominent players in the heavy construction equipment market – Caterpillar Inc.- New Cat 816K landfill compactor, was built on the established performance, durability, and reliability that the model 816 had demonstrated in 1972. The new K Series model has been designed with heavy-duty main structures that support multiple life cycles, featuring a fuel-efficient Cat C7.1 ACERT engine, single-lever steering, pressurized cab, and other features like wheel/tip options that provide extended service life. Available Cat COMPACT Technologies, such as Compaction Control, have helped further enhance compaction performance and consistency by providing accurate compaction values and 3D mapping.

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Table Of Contents

1 Executive Summary

2 Market Introduction

3 Research Methodology

4 Market Dynamics

5 Market Factor Analysis

6 Heavy Construction Equipment Market, By Type

7 Heavy Construction Equipment Market, By Application

8 Heavy Construction Equipment Market, By Region

9 Competitive Landscape

Tags: Heavy Construction Equipment Market, Heavy Construction Equipment, Heavy Construction Equipment Market 2023 See Campaign: https://www.marketresearchfuture.com/reports/global-heavy-construction-equipment-market-681

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