From towering cranes to rumbling excavators, the global construction equipment industry is not just growing—it's undergoing a technological revolution, projected to reach a staggering $285 billion by 2030 as it builds the very foundations of our future.
Key Takeaways
- The global construction equipment market size was valued at USD 195.79 billion in 2023 and is projected to grow at a CAGR of 4.8% from 2024 to 2030
- In 2022, the North American construction equipment market generated revenue of approximately USD 45.2 billion
- Asia-Pacific region accounted for 45% of the global construction equipment market share in 2023, valued at over USD 88 billion
- In 2023, Caterpillar Inc. sold 192,000 units of construction machines worldwide
- Komatsu Ltd. produced 58,000 excavators globally in fiscal 2023
- Volvo CE delivered 45,200 machines in 2023 across all segments
- North America accounted for 25% of global construction equipment demand in 2023
- Asia-Pacific dominated with 47% market share in construction equipment sales in 2023
- Europe represented 20% of worldwide construction equipment production in 2022
- Excavators comprised 35% of global construction equipment sales in 2023
- Wheel loaders accounted for 22% of earthmoving equipment market in 2023
- Cranes represented 18% of lifting equipment segment value USD 35 billion in 2023
- The adoption of autonomous construction equipment is projected to grow at 15.2% CAGR to 2030
- Electric and hybrid construction equipment market expected to reach USD 25 billion by 2030
- Telematics in construction equipment penetration to hit 65% by 2028 globally
The global construction equipment market is large and growing steadily with significant regional demand.
Equipment Types
- Excavators comprised 35% of global construction equipment sales in 2023
- Wheel loaders accounted for 22% of earthmoving equipment market in 2023
- Cranes represented 18% of lifting equipment segment value USD 35 billion in 2023
- Bulldozers made up 12% of dozing equipment sales with 150,000 units globally in 2023
- Dump trucks held 25% share in hauling equipment at USD 28 billion in 2023
- Backhoe loaders were 15% of compact equipment market USD 12.5 billion in 2023
- Motor graders comprised 8% of road construction equipment sales 50,000 units in 2023
- Telehandlers accounted for 20% of material handling in construction USD 13 billion in 2023
- Asphalt pavers represented 14% of paving equipment market USD 4.2 billion in 2023
- Skid steer loaders held 28% of compact track loader segment in 2023
- Tower cranes were 40% of high-rise construction cranes used globally in 2023
- Compact excavators made up 45% of mini equipment sales 500,000 units in 2023
- Rough terrain cranes accounted for 22% of mobile crane sales in 2023
- Trenchers comprised 10% of underground equipment market USD 1.8 billion in 2023
- Forklifts in construction held 30% of material handling USD 20 billion in 2023
- Drilling rigs for construction were 16% of foundation equipment sales in 2023
- Rollers and compactors 18% of compaction equipment USD 6.5 billion in 2023
- Scissor lifts represented 35% of aerial work platforms in construction 2023
- Pipeline equipment held 9% niche market USD 3.1 billion in 2023
- Mining dump trucks crossover to construction 12% share USD 15 billion in 2023
- Hydraulic hammers attachments 25% of demolition equipment sales in 2023
- Concrete pumps 22% of concrete machinery USD 14 billion in 2023
- Milling machines for roads 11% of milling segment 8,000 units in 2023
- Boom lifts 28% of telescopic handlers in construction 2023
- Teleskid steers emerging 5% of compact equipment in 2023
- Piling rigs 13% of foundation equipment USD 5.2 billion in 2023
- Electric scissor lifts 18% growth in access equipment 2023
Equipment Types Interpretation
While excavators reign as the unquestioned sovereign of the dirt-moving kingdom, the rest of the construction equipment realm is a fiercely specialized aristocracy where wheel loaders, cranes, and even compact excavators each dominate their own critical, high-stakes fiefdom.
Market Size and Growth
- The global construction equipment market size was valued at USD 195.79 billion in 2023 and is projected to grow at a CAGR of 4.8% from 2024 to 2030
- In 2022, the North American construction equipment market generated revenue of approximately USD 45.2 billion
- Asia-Pacific region accounted for 45% of the global construction equipment market share in 2023, valued at over USD 88 billion
- The European construction equipment market reached EUR 28.5 billion in sales value in 2022
- U.S. construction equipment market size stood at USD 38.4 billion in 2023, growing at 5.2% CAGR through 2030
- Global rental market for construction equipment was valued at USD 112.6 billion in 2023
- China's construction equipment market was worth CNY 450 billion in 2022, representing 38% of global demand
- The market for electric construction equipment reached USD 5.2 billion in 2023
- India's construction equipment industry grew to INR 85,000 crore in FY2023
- Middle East construction equipment market valued at USD 12.3 billion in 2022
- Latin America construction equipment market size was USD 18.7 billion in 2023
- Australia's construction equipment sales totaled AUD 12.5 billion in 2022
- South Korea's market for construction machinery hit KRW 25 trillion in 2023
- Global used construction equipment market valued at USD 78.4 billion in 2023
- Japan construction equipment market revenue was JPY 2.1 trillion in FY2022
- Africa construction equipment market grew to USD 6.8 billion in 2023
- Russia construction equipment market size reached RUB 350 billion in 2022
- Southeast Asia market for construction equipment was USD 22.4 billion in 2023
- UK construction equipment market valued at GBP 4.2 billion in 2022
- Brazil's market stood at BRL 45 billion for construction machinery in 2023
- Germany construction equipment sales hit EUR 7.8 billion in 2022
- Global mini excavator market within construction equipment was USD 28.5 billion in 2023
- Turkey construction equipment market revenue USD 3.2 billion in 2022
- Saudi Arabia market size for construction equipment USD 8.9 billion in 2023
- Canada construction equipment industry valued at CAD 15.6 billion in 2022
- Global road construction equipment market USD 142.3 billion in 2023
- Indonesia construction machinery market IDR 120 trillion in 2023
- France equipment market EUR 5.1 billion in 2022
- Mexico construction equipment sales USD 4.7 billion in 2023
- Global material handling equipment market in construction USD 65.2 billion in 2023
Market Size and Growth Interpretation
The world is quite literally building its future at a scale of nearly two hundred billion dollars, with Asia-Pacific wielding the heaviest shovel, while rental fleets and electric machines quietly reshape how we dig, lift, and move.
Regional Distribution
- North America accounted for 25% of global construction equipment demand in 2023
- Asia-Pacific dominated with 47% market share in construction equipment sales in 2023
- Europe represented 20% of worldwide construction equipment production in 2022
- China held 40% of global excavator market share in 2023
- U.S. market share in North America construction equipment was 65% in 2023
- India contributed 8% to Asia-Pacific construction equipment growth in 2023
- Middle East & Africa region grew at 6.2% CAGR from 2018-2023 in equipment market
- Latin America accounted for 7% of global market in 2023, led by Brazil at 4%
- Japan represented 12% of Asia-Pacific equipment exports in 2022
- Germany held 28% of European construction equipment market in 2022
- South Korea's share in global construction machinery exports was 5.5% in 2023
- Australia comprised 3% of Oceania-Pacific market but grew 7% YoY in 2023
- Russia accounted for 2.5% of global production despite sanctions in 2022
- Saudi Arabia led GCC countries with 45% regional market share in 2023
- UK held 15% of Western Europe equipment sales in 2022
- Brazil's share in Latin America was 55% of equipment sales in 2023
- Indonesia grew fastest in Southeast Asia at 9% CAGR 2020-2023
- France represented 18% of EU construction equipment market in 2022
- Canada held 25% of North American market outside U.S. in 2023
- Turkey's market share in Europe-MENA was 4.2% in 2023
- Africa sub-Saharan region grew 5.8% in equipment demand 2022-2023
- Mexico accounted for 30% of Latin America imports in 2023
- Southeast Asia held 15% of APAC market share in 2023
- Italy contributed 12% to Southern Europe equipment sales in 2022
- UAE represented 25% of Middle East equipment spending in 2023
Regional Distribution Interpretation
While Asia-Pacific flexes its muscles as the undisputed sales champion, the global construction equipment landscape reveals a fiercely competitive and fragmented arena where regional powerhouses like the U.S., China, and Germany jealously guard their own formidable corners of the market.
Sales and Production
- In 2023, Caterpillar Inc. sold 192,000 units of construction machines worldwide
- Komatsu Ltd. produced 58,000 excavators globally in fiscal 2023
- Volvo CE delivered 45,200 machines in 2023 across all segments
- Global excavator sales reached 1.2 million units in 2023
- Wheel loader production worldwide totaled 320,000 units in 2022
- U.S. construction equipment sales hit 258,000 units in 2023
- China manufactured 450,000 bulldozers and graders in 2023
- John Deere construction equipment sales revenue USD 12.5 billion in FY2023
- Europe saw 210,000 units of earthmoving equipment sold in 2022
- Hitachi Construction Machinery sold 72,000 units in FY2023
- Global backhoe loader sales 145,000 units in 2023
- Sany Heavy Industry produced 300,000 construction machines in 2023
- Japan exported 15,000 construction equipment units in 2022
- India sold 95,000 construction equipment units in FY2023
- XCMG Group output reached 200,000 units in 2023
- Brazil construction equipment sales 55,000 units in 2023
- Liebherr produced 120,000 machines globally in 2022
- Global crane sales 130,000 units in 2023
- Korea exported 8,500 construction machines in 2023
- Doosan Infracore sales 42,000 units in 2023
- Australia new equipment sales 28,000 units in 2022
- LiuGong Machinery produced 85,000 units in 2023
- Middle East equipment imports 25,000 units in 2023
- Global dump truck sales 95,000 units in 2023
- Kubota construction equipment sales 55,000 units FY2023
- Russia equipment production 18,000 units in 2022
- Southeast Asia sales 65,000 units in 2023
- Terex Corporation sold 22,000 machines in 2023
- UK equipment registrations 24,500 units in 2022
- Zoomlion produced 150,000 units in 2023
- Canada equipment sales 32,000 units in 2023
- Global motor grader sales 45,000 units in 2023
- Case Construction sold 18,000 units in 2023
Sales and Production Interpretation
This cacophony of colossal numbers reveals an industry digging, lifting, and hauling at a feverish pace, where the competition is as massive as the machines themselves, yet somehow China's Sany still seems to be building a whole new country every quarter.
Technological Trends and Forecasts
- The adoption of autonomous construction equipment is projected to grow at 15.2% CAGR to 2030
- Electric and hybrid construction equipment market expected to reach USD 25 billion by 2030
- Telematics in construction equipment penetration to hit 65% by 2028 globally
- 3D printing for construction parts market to grow at 90% CAGR to USD 1.2 billion by 2030
- AI and machine learning integration in equipment to save 20% fuel by 2027
- Global construction equipment market forecasted to reach USD 285 billion by 2030 at 5.1% CAGR
- Hydrogen-powered equipment pilots to commercialize by 2028, reducing emissions 90%
- Digital twins technology adoption in fleet management to 40% by 2025
- Predictive maintenance via IoT to cut downtime 30% in construction fleets by 2027
- AR/VR training for operators to become standard, market USD 2.5 billion by 2030
- Battery electric excavators sales to surge 25% annually to 2030
- 5G connectivity in remote-controlled equipment to cover 50% sites by 2028
- Robotics in bricklaying and demolition to deploy 100,000 units by 2030
- Blockchain for equipment lifecycle tracking adoption 15% by 2027
- Global telematics market for construction to USD 18 billion by 2030
- Autonomous haulers to handle 10% of mining-construction overlap by 2030
- Sustainability tech like biofuels to power 20% fleets by 2028
- Cloud-based fleet analytics to 70% penetration by 2026
- Drones for site surveying to integrate in 80% projects by 2030
- Exoskeleton suits for workers to reduce injuries 40%, market USD 4 billion by 2030
- Laser guidance systems in grading equipment 90% accuracy boost by 2027
- Over-the-air software updates standard in 60% new equipment by 2028
- BIM integration with equipment control systems to 50% by 2030
- Quantum sensors for precision earthmoving emerging, 10% adoption by 2035 forecast
- Circular economy recycling of equipment parts to 35% by 2030
Technological Trends and Forecasts Interpretation
The construction site of 2030 will be a symphony of silent, electric diggers directed by digital twins and AI, while exoskeleton-clad workers oversee robotic bricklayers, all orchestrated through the cloud to build a future that's as efficient as it is sustainable.
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 4OFFHIGHWAYRESEARCHoffhighwayresearch.comVisit source
- Reference 5FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 6MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 7RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 8ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 9IBEFibef.orgVisit source
- Reference 10CREDENCERESEARCHcredenceresearch.comVisit source
- Reference 11BUSINESSRESEARCHINSIGHTSbusinessresearchinsights.comVisit source
- Reference 12CECAceca.com.auVisit source
- Reference 13KOREAEXIMkoreaexim.go.krVisit source
- Reference 14FUTUREMARKETINSIGHTSfuturemarketinsights.comVisit source
- Reference 15JCMAjcma.or.jpVisit source
- Reference 16AFRICANREVIEWafricanreview.comVisit source
- Reference 17ISMRismr.ruVisit source
- Reference 18ASEANBRIEFINGaseanbriefing.comVisit source
- Reference 19CPAcpa.uk.netVisit source
- Reference 20ANFIRanfir.org.brVisit source
- Reference 21VDWvdw.deVisit source
- Reference 22TRANSPARENCYMARKETRESEARCHtransparencymarketresearch.comVisit source
- Reference 23TURKISHCONTRACTORSturkishcontractors.org.trVisit source
- Reference 24VISION2030vision2030.gov.saVisit source
- Reference 25CONEXPOCONAGGconexpoconagg.comVisit source
- Reference 26POLARISMARKETRESEARCHpolarismarketresearch.comVisit source
- Reference 27GMKIgmki.co.idVisit source
- Reference 28UNACEOunaceo.frVisit source
- Reference 29CANACEROcanacero.org.mxVisit source
- Reference 30CATcat.comVisit source
- Reference 31KOMATSUkomatsu.jpVisit source
- Reference 32VOLVOGROUPvolvogroup.comVisit source
- Reference 33RITCHIEBROSritchiebros.comVisit source
- Reference 34CCMAccma.org.cnVisit source
- Reference 35DEEREdeere.comVisit source
- Reference 36CECEcece.euVisit source
- Reference 37HITACHICMhitachicm.comVisit source
- Reference 38SANYGLOBALsanyglobal.comVisit source
- Reference 39IHSMARKITihsmarkit.comVisit source
- Reference 40XCMGxcmg.comVisit source
- Reference 41LIEBHERRliebherr.comVisit source
- Reference 42GLOBALCRANESURVEYglobalcranesurvey.comVisit source
- Reference 43KOREAJOONGANGDAILYkoreajoongangdaily.joins.comVisit source
- Reference 44DOOSANINFRACOREdoosaninfracore.comVisit source
- Reference 45LIUGONGliugong.comVisit source
- Reference 46MEEDmeed.comVisit source
- Reference 47KUBOTAkubota.comVisit source
- Reference 48ASIANCONSTRUCTIONREVIEWasianconstructionreview.comVisit source
- Reference 49TEREXterex.comVisit source
- Reference 50ZOOMLIONzoomlion.comVisit source
- Reference 51ACEA-CONEXPOCONAGGacea-conexpoconagg.comVisit source
- Reference 52CASECEcasece.comVisit source
- Reference 53UNICEMunicem.itVisit source
- Reference 54MHImhi.orgVisit source
- Reference 55COHERENTMARKETINSIGHTScoherentmarketinsights.comVisit source
- Reference 56GENMARKETINSIGHTSgenmarketinsights.comVisit source
- Reference 57VERIFIEDMARKETRESEARCHverifiedmarketresearch.comVisit source
- Reference 58GLOBALDATAglobaldata.comVisit source
- Reference 59HYCON-TOOLShycon-tools.comVisit source
- Reference 60CONCRETEPUMPERSconcretepumpers.comVisit source
- Reference 61WIRTGEN-GROUPwirtgen-group.comVisit source
- Reference 62DINOLIFTdinolift.comVisit source
- Reference 63VERIFIEDMARKETREPORTSverifiedmarketreports.comVisit source
- Reference 64RESEARCHNESTERresearchnester.comVisit source
- Reference 65SKYJACKskyjack.comVisit source
- Reference 66BERGINSIGHTberginsight.comVisit source
- Reference 67SMARTECHANALYSISsmartechanalysis.comVisit source
- Reference 68MCKINSEYmckinsey.comVisit source
- Reference 69WEFORUMweforum.orgVisit source
- Reference 70DELOITTEdeloitte.comVisit source
- Reference 71PTCptc.comVisit source
- Reference 72IDTECHEXidtechex.comVisit source
- Reference 73ERICSSONericsson.comVisit source
- Reference 74ROBOTICSBUSINESSREVIEWroboticsbusinessreview.comVisit source
- Reference 75PWCpwc.comVisit source
- Reference 76IEAiea.orgVisit source
- Reference 77GARTNERgartner.comVisit source
- Reference 78DRONELIFEdronelife.comVisit source
- Reference 79TOPCONPOSITIONINGtopconpositioning.comVisit source
- Reference 80AUTODESKautodesk.comVisit source
- Reference 81NIBSnibs.orgVisit source
- Reference 82ELLENMACARTHURFOUNDATIONellenmacarthurfoundation.orgVisit source