The Most Surprising Construction Equipment Industry Statistics in 2024

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In this post, we will explore the latest statistics and trends shaping the construction equipment industry. From growth projections and market shares to technological advancements and regional insights, these statistics provide a comprehensive overview of the dynamic landscape within the construction equipment sector. Let’s dive into the numbers that are driving the future of this vital industry.

Statistic 1

"The compact construction equipment market is expected to grow at a CAGR of 6.4% from 2020 to 2026."

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Statistic 2

"The global construction machinery manufacturing industry employed over 100,000 people in 2020."

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Statistic 3

"Caterpillar Inc. holds a 16% market share in the global construction equipment market."

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Statistic 4

"The U.S. construction equipment industry is projected to reach $32 billion by 2026."

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Statistic 5

"Material handling equipment saw a significant rise in sales, reaching 15% growth in 2020."

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Statistic 6

"China is the largest producer of construction equipment, contributing to 20% of global production."

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Statistic 7

"Hydraulic pump consumption in construction machinery is expected to increase by 30% over the next decade."

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Statistic 8

"A total of 1 million units of construction equipment were sold worldwide in 2019."

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Statistic 9

"The rental sector for construction equipment is projected to surpass $140 billion by 2024."

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Statistic 10

"The Asia-Pacific region accounted for over 50% of the construction equipment market share in 2020."

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Statistic 11

"The demand for electric construction equipment is expected to grow by 15% annually until 2026."

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Statistic 12

"In 2020, 48% of construction equipment produced was for the infrastructure sector."

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Statistic 13

"70% of construction equipment manufacturers are investing in digital solutions."

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Statistic 14

"The global construction equipment industry is expected to add $200 billion to its value by 2030."

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Statistic 15

"By 2023, autonomous construction equipment is expected to account for 5% of new equipment sales."

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Statistic 16

"The global construction equipment market size was valued at approximately $142 billion in 2020."

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Statistic 17

"25% of construction equipment manufacturers reported supply chain disruptions in 2020."

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Statistic 18

"The global crane market is expected to grow from $33.45 billion in 2020 to $52.28 billion by 2028."

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Statistic 19

"Europe’s construction equipment industry is projected to grow at a rate of 4% annually over the next five years."

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Statistic 20

"The excavators segment held nearly 30% of the market share in 2019."

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In conclusion, the construction equipment industry is showing strong growth potential and innovation across various sectors. The statistics highlight key trends such as the exponential growth in the compact construction equipment market, the dominance of Caterpillar Inc., and the rising demand for electric and autonomous construction equipment. With significant investments in digital solutions, a booming rental sector, and continuous advancements in technology, the industry is poised for substantial expansion and value addition in the coming years. Supply chain disruptions and regional growth projections also play a crucial role in shaping the future landscape of the global construction equipment market.

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