GITNUXREPORT 2025

Construction Equipment Industry Statistics

Construction equipment market exceeds $144B; Asia-Pacific leads, automation grows rapidly.

Jannik Lindner

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Key Statistics

Statistic 1

The construction equipment industry employs approximately 2.8 million workers in the United States alone

Statistic 2

The construction equipment rental market is expected to grow at a CAGR of 4.2% from 2023 to 2028

Statistic 3

Demand for demolition and recycling equipment is expected to grow at a CAGR of 4.8% over the next five years

Statistic 4

The construction equipment sector is rapidly adopting electric and hybrid machines, with sales increasing by 15% year over year in 2022

Statistic 5

The average lifespan of heavy construction equipment ranges from 7 to 10 years, depending on usage and maintenance

Statistic 6

Over 60% of construction machinery in North America is now connected via IoT for predictive maintenance

Statistic 7

The adoption of autonomous construction equipment is expected to increase at a CAGR of 20% from 2023 to 2030

Statistic 8

The demand for mini and compact equipment increased by 12% globally in 2022 due to urban construction projects

Statistic 9

The construction equipment industry is shifting towards more sustainable and energy-efficient solutions, with over 30% of new equipment sales being electric or hybrid in 2023

Statistic 10

Over 80% of construction companies plan to increase their investment in digital transformation tools by 2025

Statistic 11

The use of AI-driven construction equipment optimization solutions increased by 25% in 2022, enhancing productivity and safety

Statistic 12

The adoption rate of fuel-efficient and hybrid engines in construction equipment increased by 18% in 2022, compared to previous years

Statistic 13

More than 65% of construction firms plan to increase their fleet of electric and hybrid equipment in the next five years

Statistic 14

The global construction equipment market size was valued at approximately $144.4 billion in 2022

Statistic 15

The global excavator market alone was valued at $23.7 billion in 2021 and is projected to reach $32.2 billion by 2027

Statistic 16

The global tower cranes market was valued at $2.4 billion in 2021 and is estimated to reach $3.6 billion by 2028

Statistic 17

The global road construction equipment market size was valued at $12.2 billion in 2020 and is projected to grow significantly through 2028

Statistic 18

The global compact excavator market is expected to grow at a CAGR of 5.1% from 2023 to 2030

Statistic 19

The construction equipment industry estimated to generate over $31 billion in revenue in the U.S. in 2022

Statistic 20

The global skid-steer loader market size was valued at approximately $1.2 billion in 2021 and forecast to grow at a CAGR of 4.3% through 2027

Statistic 21

The global concrete pump market is projected to reach $1.7 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027

Statistic 22

The global tower crane market represented about 15% of the overall construction equipment market in 2022

Statistic 23

The global asphalt paver market is expected to reach $1.4 billion by 2026, growing at a CAGR of 3.8%

Statistic 24

The market for portable generators used in construction sites is projected to grow at a CAGR of 6.5% between 2023 and 2030

Statistic 25

The global earthmoving equipment market size was valued at $50 billion in 2021 and is forecasted to reach $70 billion by 2030

Statistic 26

The global aerial work platform market was valued at $6.4 billion in 2020 and is projected to reach $8.2 billion by 2028

Statistic 27

The construction equipment industry’s revenue in Europe was approximately €45 billion in 2022

Statistic 28

The global concrete mixer market is projected to reach $13.4 billion by 2028, growing at a CAGR of 4.1%

Statistic 29

The global drilling rigs market was valued at $12.1 billion in 2021, expected to grow at a CAGR of 5% through 2027

Statistic 30

The top five global construction equipment companies control around 45% of the total market share

Statistic 31

The global wheel loader market was valued at approximately $8.5 billion in 2020 and is projected to reach $11 billion by 2027

Statistic 32

The global piling equipment market is anticipated to grow at a CAGR of 4.7% from 2022 to 2028, reaching approximately $3.2 billion by 2028

Statistic 33

Industry investment in automation and robotics in construction equipment is projected to reach $2.2 billion by 2025

Statistic 34

The global compact track loader market is projected to grow at a CAGR of 3.9% from 2023 to 2030, reaching $1.5 billion by 2030

Statistic 35

The global construction cranes market size was valued at $8.0 billion in 2020, with a projected CAGR of 4.2%, reaching about $10.2 billion by 2027

Statistic 36

The Asia-Pacific region accounted for the largest share of the construction equipment market in 2022, with over 50%

Statistic 37

North America accounted for around 25% of the global construction equipment industry in 2022

Statistic 38

China is the largest manufacturer and consumer of construction equipment, accounting for over 40% of global production

Statistic 39

Asia-Pacific led the global tower crane market in 2022, with a market share of approximately 55%

Statistic 40

Asia-Pacific construction equipment rental market is expected to grow at a CAGR of 5.4% from 2023 to 2028

Statistic 41

Asia-Pacific is expected to dominate the global construction equipment market through 2030, with a forecasted market share exceeding 50%

Statistic 42

Approximately 70% of construction equipment sales are now driven by technological advancements, including automation and IoT integration

Statistic 43

Around 65% of construction equipment manufacturers have adopted telematics to improve fleet management

Statistic 44

The use of 3D printing in construction equipment manufacturing is expected to boost innovations and reduce costs by up to 20%

Statistic 45

The emergence of smart construction equipment with integrated sensors has increased by 22% in 2022, improving operational efficiency

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Key Highlights

  • The global construction equipment market size was valued at approximately $144.4 billion in 2022
  • The Asia-Pacific region accounted for the largest share of the construction equipment market in 2022, with over 50%
  • The construction equipment rental market is expected to grow at a CAGR of 4.2% from 2023 to 2028
  • Approximately 70% of construction equipment sales are now driven by technological advancements, including automation and IoT integration
  • The global excavator market alone was valued at $23.7 billion in 2021 and is projected to reach $32.2 billion by 2027
  • North America accounted for around 25% of the global construction equipment industry in 2022
  • Demand for demolition and recycling equipment is expected to grow at a CAGR of 4.8% over the next five years
  • The construction equipment sector is rapidly adopting electric and hybrid machines, with sales increasing by 15% year over year in 2022
  • The global tower cranes market was valued at $2.4 billion in 2021 and is estimated to reach $3.6 billion by 2028
  • China is the largest manufacturer and consumer of construction equipment, accounting for over 40% of global production
  • The average lifespan of heavy construction equipment ranges from 7 to 10 years, depending on usage and maintenance
  • The global road construction equipment market size was valued at $12.2 billion in 2020 and is projected to grow significantly through 2028
  • Over 60% of construction machinery in North America is now connected via IoT for predictive maintenance

The construction equipment industry is poised for explosive growth and innovation, with the market valued at over $144 billion in 2022, driven by technological advancements, sustainability initiatives, and regional dominance in Asia-Pacific.

Employment

  • The construction equipment industry employs approximately 2.8 million workers in the United States alone

Employment Interpretation

With 2.8 million workers shaping America's landscape, the construction equipment industry not only builds structures but also scaffolds the backbone of the nation's economy.

Industry Trends

  • The construction equipment rental market is expected to grow at a CAGR of 4.2% from 2023 to 2028
  • Demand for demolition and recycling equipment is expected to grow at a CAGR of 4.8% over the next five years
  • The construction equipment sector is rapidly adopting electric and hybrid machines, with sales increasing by 15% year over year in 2022
  • The average lifespan of heavy construction equipment ranges from 7 to 10 years, depending on usage and maintenance
  • Over 60% of construction machinery in North America is now connected via IoT for predictive maintenance
  • The adoption of autonomous construction equipment is expected to increase at a CAGR of 20% from 2023 to 2030
  • The demand for mini and compact equipment increased by 12% globally in 2022 due to urban construction projects
  • The construction equipment industry is shifting towards more sustainable and energy-efficient solutions, with over 30% of new equipment sales being electric or hybrid in 2023
  • Over 80% of construction companies plan to increase their investment in digital transformation tools by 2025
  • The use of AI-driven construction equipment optimization solutions increased by 25% in 2022, enhancing productivity and safety
  • The adoption rate of fuel-efficient and hybrid engines in construction equipment increased by 18% in 2022, compared to previous years
  • More than 65% of construction firms plan to increase their fleet of electric and hybrid equipment in the next five years

Industry Trends Interpretation

As the construction industry races towards a greener, smarter future with a 4.2% annual rental growth, 60% IoT-connected machinery, and a 20% surge in autonomous equipment, it's clear that diesel is being gasoline-ly phased out in favor of digital, electric, and hybrid solutions designed to build more efficiently and sustainably.

Market Size and Valuation

  • The global construction equipment market size was valued at approximately $144.4 billion in 2022
  • The global excavator market alone was valued at $23.7 billion in 2021 and is projected to reach $32.2 billion by 2027
  • The global tower cranes market was valued at $2.4 billion in 2021 and is estimated to reach $3.6 billion by 2028
  • The global road construction equipment market size was valued at $12.2 billion in 2020 and is projected to grow significantly through 2028
  • The global compact excavator market is expected to grow at a CAGR of 5.1% from 2023 to 2030
  • The construction equipment industry estimated to generate over $31 billion in revenue in the U.S. in 2022
  • The global skid-steer loader market size was valued at approximately $1.2 billion in 2021 and forecast to grow at a CAGR of 4.3% through 2027
  • The global concrete pump market is projected to reach $1.7 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027
  • The global tower crane market represented about 15% of the overall construction equipment market in 2022
  • The global asphalt paver market is expected to reach $1.4 billion by 2026, growing at a CAGR of 3.8%
  • The market for portable generators used in construction sites is projected to grow at a CAGR of 6.5% between 2023 and 2030
  • The global earthmoving equipment market size was valued at $50 billion in 2021 and is forecasted to reach $70 billion by 2030
  • The global aerial work platform market was valued at $6.4 billion in 2020 and is projected to reach $8.2 billion by 2028
  • The construction equipment industry’s revenue in Europe was approximately €45 billion in 2022
  • The global concrete mixer market is projected to reach $13.4 billion by 2028, growing at a CAGR of 4.1%
  • The global drilling rigs market was valued at $12.1 billion in 2021, expected to grow at a CAGR of 5% through 2027
  • The top five global construction equipment companies control around 45% of the total market share
  • The global wheel loader market was valued at approximately $8.5 billion in 2020 and is projected to reach $11 billion by 2027
  • The global piling equipment market is anticipated to grow at a CAGR of 4.7% from 2022 to 2028, reaching approximately $3.2 billion by 2028
  • Industry investment in automation and robotics in construction equipment is projected to reach $2.2 billion by 2025
  • The global compact track loader market is projected to grow at a CAGR of 3.9% from 2023 to 2030, reaching $1.5 billion by 2030
  • The global construction cranes market size was valued at $8.0 billion in 2020, with a projected CAGR of 4.2%, reaching about $10.2 billion by 2027

Market Size and Valuation Interpretation

With the global construction equipment market soaring past $144 billion and segments like excavators and cranes tailored for both heavy lifting and precision, the industry is not just building structures but also an ecosystem poised for robust growth, innovation, and strategic consolidation—proving that in construction, size and smart scaling truly go hand in hoist.

Regional Market Analysis

  • The Asia-Pacific region accounted for the largest share of the construction equipment market in 2022, with over 50%
  • North America accounted for around 25% of the global construction equipment industry in 2022
  • China is the largest manufacturer and consumer of construction equipment, accounting for over 40% of global production
  • Asia-Pacific led the global tower crane market in 2022, with a market share of approximately 55%
  • Asia-Pacific construction equipment rental market is expected to grow at a CAGR of 5.4% from 2023 to 2028
  • Asia-Pacific is expected to dominate the global construction equipment market through 2030, with a forecasted market share exceeding 50%

Regional Market Analysis Interpretation

With over half of the global construction equipment market and a commanding presence in tower cranes and rental growth, the Asia-Pacific region is clearly building not just structures but a dominant chapter in the industry's future.

Technological Advancements and Innovation

  • Approximately 70% of construction equipment sales are now driven by technological advancements, including automation and IoT integration
  • Around 65% of construction equipment manufacturers have adopted telematics to improve fleet management
  • The use of 3D printing in construction equipment manufacturing is expected to boost innovations and reduce costs by up to 20%
  • The emergence of smart construction equipment with integrated sensors has increased by 22% in 2022, improving operational efficiency

Technological Advancements and Innovation Interpretation

As construction equipment evolves into high-tech allies rather than mere tools, industry giants are dialing up innovation and efficiency—proving that in today's building game, smart machines aren't just a trend, they're the blueprint for the future.

Sources & References