Heavy Construction Equipment Market (By Type: Heavy Construction Vehicles, Material Handling, Earthmoving, Others; By Application: Recycling and Waste Management, Transportation, Excavation and Demolition, Tunneling, Heavy Lifting, Material Handling; By End Use: Mining, Construction and Manufacturing, Oil and Gas, Public Work and Rail Road, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global heavy construction equipment market is anticipated to grow at a CAGR of around 7.6% in terms of revenue during the forecast period 2020 – 2027 and to reach value of around US$ 190 Bn by 2027.

Heavy construction equipment is infrastructure equipments that reduce the workforce and improve job productivity and minimize the time limit. In construction sector the market demand for these equipment is immense.

The report provides analysis of global Heavy Construction Equipment market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

Rising collaboration and global economic development mainly due to residential, business, and industrial growth, are driving the heavy construction equipment industry. There are various types of heavy construction equipment in the market, but it is important to choose the best type of construction equipment. In selecting heavy construction equipment, the industries focus on criteria such as project difficulty, expense, price, material, time and strength. The main driving forces for the business growth are enhanced involvement in the private sector, immobilization growth, improved economic and residential & commercial infrastructure set-up in emerging economies. Growing approaches for the formation of infrastructure and rising public-private collaborations in countries like India and China for the building of public infrastructure projects also support the growth of the industry. The Indian Government has invested heavily in the construction, production and use of excavators, loaders and other similar heavy machines, for bridges, highways, airports and general infrastructure. However, fluctuating energy prices and rising carbon footprint is a key challenge of target market.

Regional Stance

Asia Pacific held major market share in 2019 and projected to govern the market amid the projected time period. This is because more governmental funding is being given and infrastructure is being built in this region. Increased infrastructure investment is projected to fuel the heavy construction equipment demand in counties such as China and India and increased policy infrastructure growth also gain market momentum in the region. Moreover, the demand for heavy construction machinery also increases in Middle East & Africa in terms of industry production growth, which needs construction handling equipment owing to large oil refineries and transportation sector.

Report coverage

The market research study on “Heavy Construction Equipment Market (Heavy Construction Equipment Market By Type: Heavy Construction Vehicles, Material Handling, Earthmoving, Others; Heavy Construction Equipment Market By Application: Recycling and Waste Management, Transportation, Excavation and Demolition, Tunneling, Heavy Lifting, Material Handling; Heavy Construction Equipment Market By End Use: Mining, Construction and Manufacturing, Oil & Gas, Public Work and Rail Road, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Heavy Construction Equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Heavy Construction Equipment market size, and segment markets by type, application, end use, and geography along with the information on companies operating in the market. The Heavy Construction Equipment market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Heavy Construction Equipment market is segmented as below:

Market Segmentation

Heavy Construction Equipment Market By Type

• Heavy Construction Vehicles
• Material Handling
• Earthmoving
• Others

Heavy Construction Equipment Market By Application

• Recycling and Waste Management
• Transportation
• Excavation and Demolition
• Tunneling
• Heavy Lifting
• Material Handling

Heavy Construction Equipment Market By End Use

• Mining
• Construction and Manufacturing
• Oil and Gas
• Public Work and Rail Road
• Others

Heavy Construction Equipment Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

A growing number of foreign and local competitors are resulting in a highly competitive business climate in the heavy construction machinery industry. In comparison to the previous top companies, a large part of more than 50% of the competition was played in 2019 by minor and local players.

Participants include major global players such JCB Ltd., AB Volvo, Caterpillar, Inc., Hitachi, Komatsu Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., and Others.