+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)


Construction Machinery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4515698
  • Report
  • April 2021
  • Region: Global
  • 90 pages
  • Mordor Intelligence


  • Caterpillar Inc.
  • CNH Industrial NV
  • Deere & Company
  • Komatsu Ltd
  • Terex Corporation
  • Volvo Group
The construction machinery market was valued at USD 161 billion in 2020 and is anticipated to reach USD 228 billion by 2026, at a CAGR of over 6% during the forecast period (2021 -2026).

The outbreak of COVID-19 and the subsequent shutdowns have affected the construction industry in several countries. The negative impacts of the pandemic are visible in the various major projects timeline.

The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on the market growth. The road construction machinery market has witnessed significant growth in the recent past, owing to the increased road development programs undertaken by the central and state governments, especially in the Asia-Pacific countries.

The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressurizing construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones.

The renting or leasing of construction equipment has been on the rise, owing to the equipment cost and also the cost of the maintenance process. Apart from the cost, there are also other benefits associated with renting the construction equipment. Rental companies provide the machinery, along with the required professional machine operators and drivers, included in the rent.

The construction industry is getting smarter. Digitalization, connectivity, and automation are driving the development forward, leaving a substantial impact on construction projects. Additionally, the renting companies have also geared up in investing in new technologies to cope with the growing demand for advanced construction machinery and replace the older ones with new or upgraded machinery fleet.

Key Market Trends

Crane is expected to be the largest segment

The large construction projects, across the world, are expected to drive the crane and construction machinery market shortly. Europe is planning on various construction projects. Germany, France, and Italy have witnessed the highest growth rates, owing to the construction projects happening in the region. The projects include the port extension, underwater tunnel connecting major European countries, railway tunnels, among others, which include the use of many types of cranes, thus driving the entire crane market.

For instance, in March 2021, Rothmund GmbH Kran und Montage purchased its second LTM 1230-5.1 from Liebherr just after purchasing first six months ago. In same month Schussmann Kranservice GmbH also recieved new LTM 1230-5.1.

Africa and Latin America are expected to emerge as good markets post 2021, improving the economy, and overseas investments are expected to encourage more infrastructural development and construction activity.

The North American crane count has reached a new peak. Approximately 40% of the total crane count in North America is working for the residential market. Toronto is leading this market with 70 of their cranes dedicated to high-rise cooperative projects. Mixed-use development is the second largest market, making up nearly 25% of all cranes in North America.

The increase in net crane count indicates that the construction market is not merely holding steady, but prospering. It is anticipated that this growth will continue, as many cities in North America continue to add to their roster of proposed developments.

Asia-Pacific is Expected to Dominate the Global Market

Asia-Pacific ranks first in the construction equipment market with a major market share held by China, India, and Japan. The progress of the South-North water transfer plant project in China, anticipated to complete by 2050, would deploy various construction machinery either by leasing or owning the machinery, thus growing the demand for construction machinery over the next three decades.

The increasing number of dam construction, real-estate business, commercial and residential complexes, and expansion of rail and road infrastructure in the APAC region are few drivers for the construction machinery market.

Companies are introducing dedicated products for the region. For instance, in December 2020, Komatsu announced that it will be rolling out affordable excavators in Southeast Asia. A midsize, 20-ton-class excavator for residential land development and road construction will be marketed in Thailand and Indonesia starting in April 2021.

Manufacturers of construction equipment are trying to reduce their dependence on gasoline and diesel as regulators in Asia have set ambitious goals to become carbon neutral by 2040. For instance, In January 2021, Komatsu announced that it is partnering with Proterra to use battery packs in Komatsu’s electric hydraulic excavators. Company will use Proterra’s battery systems to develop a proof-of-concept electric excavator by the end of 2021.

Competitive Landscape

Some of the major companies that dominated the market studied are Caterpillar Inc., Kobelco Construction Machinery Co., Ltd, CNH Industrial NV, Deere & Company, Komatsu Ltd, JCB India Limited, Volvo Group, Doosan Infracore, and XCMG, which captured a major share of the market.

The construction machinery market is characterized by the presence of numerous international and regional players, resulting in a highly competitive market environment. Apart from the above top players, small-scale or domestic players have been accounted for a significant share of the market.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This report will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • Caterpillar Inc.
  • CNH Industrial NV
  • Deere & Company
  • Komatsu Ltd
  • Terex Corporation
  • Volvo Group
1.1 Study Assumptions
1.2 Scope of the Study



4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5.1 Machinery Type
5.1.1 Crane
5.1.2 Telescopic Handlers
5.1.3 Excavator
5.1.4 Loader & Backhoe
5.1.5 Motor Grader
5.1.6 Others
5.2 Drive Type
5.2.1 Hydraulic
5.2.2 Electric and Hybrid
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Rest of Europe
5.3.3 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa United Arab Emirates South Africa Rest of Middle-East and Africa

6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Caterpillar Inc.
6.2.2 CNH Industrial NV
6.2.3 Hitachi Construction Machinery Co Ltd
6.2.4 Deere & Company
6.2.5 Kobelco Construction Machinery Co., Ltd
6.2.6 Komatsu Ltd
6.2.7 Liebherr-International Deutschland GmbH
6.2.8 Volvo Group
6.2.9 Zoomlion Heavy Industry Sci & Tch Co Ltd
6.2.10 Terex Corporation
6.2.11 Sany Heavy Industry Co., LTD
6.2.12 XCMG Construction Machinery Co Ltd

Note: Product cover images may vary from those shown
  • Caterpillar Inc.
  • CNH Industrial NV
  • Hitachi Construction Machinery Co Ltd
  • Deere & Company
  • Kobelco Construction Machinery Co., Ltd
  • Komatsu Ltd
  • Liebherr-International Deutschland GmbH
  • Volvo Group
  • Zoomlion Heavy Industry Sci & Tch Co Ltd
  • Terex Corporation
  • Sany Heavy Industry Co., LTD
  • XCMG Construction Machinery Co Ltd
Note: Product cover images may vary from those shown