The heavy construction equipment market size was valued at $1,71,667.0 million in 2019, and is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027. Heavy construction equipment includes equipment and vehicle, which are specifically designed for use in various construction applications and operations such as grading, drilling, excavating, hauling, and paving. This heavy construction equipment are used by various end-user industries, including mining, oil & gas, construction, manufacturing, forestry, and infrastructure.
Trend shows that the demand for heavy construction equipment has increased within various countries in the region, especially in China and India owing to urbanization and high investment in the infrastructure segment. In addition, prominent players, such as Caterpillar Inc. and Volvo AB, are inclined toward development of efficient earthmoving machines with advance technologies and improved performance. For instance, the newly commercialized earth moving solutions, developed by Caterpillar Inc., reduce operating costs and are equipped with advanced technologies such as AccuGradeTM grade control system and computer aided earthmoving system (CAES). However, environmental concerns caused due to release of harmful gases, such as carbon dioxide and others by diesel-run machineries hamper market growth. Furthermore, the development of low emission and fuel-efficient equipment offers lucrative growth opportunities for the market players during the forecast period. The market is segmented on the basis of equipment type, application, end user, and region. By equipment type, the market is classified into earthmoving equipment, material handling, heavy construction vehicles, and others.
The earthmoving equipment segment is sub-segmented into excavators, loaders, backhoe loaders, and motor graders. The material handling equipment segment is sub-segmented into cranes and telescopic handlers. The heavy construction vehicles segment is sub-categorized into dumpers and tippers. The others segment includes compactors and pavers. By application, the market is categorized into excavation & demolition, heavy lifting, tunneling, material handling, and recycling & waste management. By end user, it is classified as infrastructure, construction, mining, oil & gas, manufacturing, and others (forestry and agriculture).
By region, the heavy construction equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increased funding by the government agencies and rise in focus to develop infrastructure in this region.
COMPETITION ANALYSIS
Key companies profiled in the report include AB Volvo, Caterpillar Inc., CNH, Deere & Company, Doosan Infracoe, Hitachi Machinery Construction, JCB, Komatsu, Liebherr AG, and Sany.
KEY BENEFITS FOR STAKEHOLDERS
GLOBAL HEAVY CONSTRUCTION EQUIPMENT MARKET SEGMENTS
BY EQUIPMENT TYPE
BY END-USER
BY APPLICATION
BY REGION
KEY PLAYERS
The earthmoving equipment segment is sub-segmented into excavators, loaders, backhoe loaders, and motor graders. The material handling equipment segment is sub-segmented into cranes and telescopic handlers. The heavy construction vehicles segment is sub-categorized into dumpers and tippers. The others segment includes compactors and pavers. By application, the market is categorized into excavation & demolition, heavy lifting, tunneling, material handling, and recycling & waste management. By end user, it is classified as infrastructure, construction, mining, oil & gas, manufacturing, and others (forestry and agriculture).
By region, the heavy construction equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increased funding by the government agencies and rise in focus to develop infrastructure in this region.
COMPETITION ANALYSIS
Key companies profiled in the report include AB Volvo, Caterpillar Inc., CNH, Deere & Company, Doosan Infracoe, Hitachi Machinery Construction, JCB, Komatsu, Liebherr AG, and Sany.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging heavy construction equipment market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the heavy construction equipment market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global heavy construction equipment market forecast analysis from 2020 to 2027 is included in the report.
- The key market players within heavy construction equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the heavy construction equipment industry.
GLOBAL HEAVY CONSTRUCTION EQUIPMENT MARKET SEGMENTS
BY EQUIPMENT TYPE
- Earthmoving
- Material handling
- Heavy construction vehicles
- Others
BY END-USER
- Infrastructure
- Construction
- Mining
- Oil & Gas
- Manufacturing
- Others
BY APPLICATION
- Excavation & Demolition
- Heavy Lifting
- Tunneling
- Material Handling
- Recycling & Waste management
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- AB Volvo
- Caterpillar Inc.
- CNH
- Deere & Company,
- Doosan Infracoe
- Hitachi Machinery Construction,
- JCB
- Komatsu
- Liebherr AG
- Sany
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Heavy Construction Equipment Market, by Equipment Type
Chapter 5: Heavy Construction Equipment Market, by Application
Chapter 6: Heavy Construction Equipment Market, by End-User Industry
Chapter 7: Heavy Construction Equipment Market, by Region
Chapter 8: Company Profile:
Executive Summary
According to the report titled, 'Heavy Construction Equipment Market by Equipment Type, Application, and End-User: Opportunity Analysis and Industry Forecast, 2020-2027', the global heavy construction equipment market size was valued at $171.6billion in 2019, and is projected to reach $240.4billion by 2027, registering a CAGR of 4.2% from 2020 to 2027. Heavy construction equipment is heavy equipment or vehicle used for activities involved in construction such as excavation, material lifting, tunneling, and material handling. The market is mainly driven by development in residential, commercial, and industrial sectors, increase in public-private partnership, and global economic growth. However, higher carbon emission and increase in oil prices are some factors that limit the growth of the heavy construction equipment market.The commonly observed types of heavy construction equipment are earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Among these, the earthmoving equipment segment accounts for the largest market size by value, owing to low operating cost and increased demand from various industries such as construction, manufacturing, oil & gas, and mining & forestry.
The market is analyzed with respect to different applications provided, such as excavation & demolition, material lifting, tunneling, material handling, and recycling & waste management. These applications currently drive the market growth owing to the planning and implementation of different infrastructure projects. The excavation & demolition segment had largest share in the market in 2019, growing at a CAGR of 2.5% during the forecast period, as these excavators are equipped with new technology that ensures improved output, cost effectiveness, high performance, and efficiency.
The material handling applications segment is anticipated to grow rapidly, with a CAGR of 5.4% during the forecast period, due to increased use of material handling equipment such as cranes and telehandlers in large building, construction, and mining operations. The heavy construction equipment is used in numerous industry verticals. The end-user industries analyzed in the report are construction, mining, infrastructure, manufacturing, oil & gas, and others.
Among all industries, the construction industry accounted for the largest market share owing to improved involvement in private sector, tremendous growth in real estate sector, improved economic conditions, and residential & commercial infrastructure set-up in emerging economies. The construction industry generated highest revenue in 2019, which is expected to grow at a CAGR of 3.4% over the period of 2020-2027. However, manufacturingsector is expected to witness the highest growth during the forecast period, due to the increase in industrialization and urbanization. In addition, rise in application of forklifts and hoisting equipment in the manufacturing industry boosts the market growth in both, the developed and the developing nations.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2019. This region is expected to grow with highest CAGR from 2020 - 2027. The heavy construction equipment market is expected to exhibit a robust growth owing to increased use of earthmoving equipment in construction. Moreover, proactive government initiatives related to infrastructure developments result in an upsurge in investments in construction and mining projects.
The key players profiled in the heavy construction equipment market report include AB Volvo, Caterpillar Inc., CNH, Deere & Company, Doosan Infracoe, Hitachi Machinery Construction, JCB, Komatsu, Liebherr AG, and Sany.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging heavy construction equipment market trends and dynamics.
The report provides an extensive analysis of theheavy construction equipment markettrends and emerging opportunities of the market.
In-depth heavy construction equipment market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
The global heavy construction equipment market forecast analysis from 2020 to 2027 is included in the report.
Depending on end-user, the constructionsegment dominated theheavy construction equipment market, in terms of revenue in 2019 and manufacturingis projected to grow at a CAGR 6.2%during the forecast period.
By type, theearthmoving segment registered highest revenue inthe heavy construction equipment market in 2019.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the heavy construction equipment market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the heavy construction equipment industry
Companies Mentioned
- AB Volvo
- Caterpillar Inc.
- CNH
- Deere & Company
- Doosan Infracoe
- Hitachi Machinery Construction
- JCB
- Komatsu
- Liebherr AG
- Sany
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 354 |
| Published | April 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 171667 million |
| Forecasted Market Value ( USD | $ 240496 million |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
