GITNUX MARKETDATA REPORT 2024

Global Construction Equipment Industry Statistics

The global construction equipment industry is projected to experience steady growth, driven by increasing infrastructure investments and technological advancements.

Highlights: Global Construction Equipment Industry Statistics

  • The global construction equipment market size was valued at USD 133.37 billion in 2020.
  • It is projected to reach USD 210.74 billion by 2028.
  • The global construction equipment market is expected to grow at a compound annual growth rate of 4.0% from 2021 to 2028.
  • Earthmoving machinery accounted for 40.5% of the total market revenue in 2020.
  • Material handling machinery is expected to be the fastest-growing segment, registering a CAGR of 4.1% from 2021 to 2024.
  • Asia Pacific region represented 43.9% of the overall revenue share in 2020.
  • The global construction equipment rental market size was valued at $92.9 billion in 2019.
  • The global construction equipment rental market is expected to grow at a CAGR of 4.8% during the forecast period 2020 to 2027.
  • Approximately 97,706 construction equipment units were sold worldwide in 2020.
  • In 2020, the North American market for construction equipment reached around 133,300 units.
  • The excavator market size in the global construction machinery segment was USD 48.46 billion in 2019.
  • The market for construction equipment in Europe in 2019 had a share of 21%.
  • China is projected to lead revenue huge by 2027, generating revenue over USD 48 billion.
  • Global demand for construction machinery will rise 3.9% annually through 2023.
  • Africa construction equipment market reached USD 7 billion in 2019.
  • The global construction machines shipping is estimated at 132,700 units for H1 2021.
  • Global skid steer loader shipments are expected to grow from 63,600 units in 2018 to 76,000 units in 2026.
  • The global cranes market size was valued at USD 33.83 billion in 2018.
  • The global cranes market is anticipated to grow at a compound annual growth rate (CAGR) of 6% from 2019-2025.
  • The demand for hydraulic cranes in the construction industry is expected to grow at a CAGR of 5.9% from 2019 to 2025.

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The Latest Global Construction Equipment Industry Statistics Explained

The global construction equipment market size was valued at USD 133.37 billion in 2020.

The statistic stating that the global construction equipment market size was valued at USD 133.37 billion in 2020 represents the total monetary value of sales within the construction equipment industry worldwide for that particular year. This figure reflects the combined revenue generated from the sale of construction machinery, tools, and equipment used in various construction projects. The market size serves as a key indicator of the overall economic activity and investment within the construction sector, highlighting the scale and significance of the industry on a global scale. Understanding this statistic is crucial for businesses, policymakers, and investors to assess market trends, make informed decisions, and plan strategic initiatives within the construction equipment market.

It is projected to reach USD 210.74 billion by 2028.

The statistic “It is projected to reach USD 210.74 billion by 2028” indicates a forecasted value for a specific numerical metric, likely related to a particular industry, market, or economic indicator. In this context, the projection suggests an anticipated growth in the value of the metric to USD 210.74 billion by the year 2028. This figure serves as a target or milestone for future performance expectations, providing stakeholders with an estimate of the potential size or impact of the subject being analyzed. Overall, this statistic conveys a forward-looking perspective on the expected magnitude of the metric in question by the specified future date.

The global construction equipment market is expected to grow at a compound annual growth rate of 4.0% from 2021 to 2028.

The statistic stating that the global construction equipment market is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028 indicates the projected rate of increase in the market size over the specified time period. A CAGR of 4.0% suggests that, on average, the market is anticipated to expand by 4.0% annually during the stated period. This growth rate reflects the expected upward trend in demand for construction equipment globally, driven by factors such as infrastructure development projects, urbanization, and industrialization. The forecasted growth signifies potential opportunities for companies operating in the construction equipment industry to capitalize on the expanding market and adapt their strategies to meet the escalating demand for construction machinery and related products and services.

Earthmoving machinery accounted for 40.5% of the total market revenue in 2020.

The statistic “Earthmoving machinery accounted for 40.5% of the total market revenue in 2020” indicates that a significant portion of the total revenue generated in the market in 2020 was attributed to the sales of earthmoving machinery. This statistic suggests that earthmoving machinery, which includes equipment such as excavators, bulldozers, and loaders, played a substantial role in driving the overall market performance during the specified year. The high percentage of market revenue generated by earthmoving machinery highlights the importance and demand for these types of equipment within the industry, signaling a strong market presence and potentially indicating a growing trend towards the use of such machinery for various construction and infrastructure projects.

Material handling machinery is expected to be the fastest-growing segment, registering a CAGR of 4.1% from 2021 to 2024.

The statistic indicates that the material handling machinery industry is projected to experience significant growth over the period from 2021 to 2024, with a Compound Annual Growth Rate (CAGR) of 4.1%. This means that on average, the market for material handling machinery is expected to expand by 4.1% each year during this timeframe. The faster growth rate forecasted for this segment suggests increasing demand for material handling equipment such as forklifts, conveyors, and automated systems, likely driven by factors such as the rise of e-commerce, automation in warehouses, and advancements in technology. This growth projection can offer valuable insights to businesses operating in or considering entering the material handling machinery market, highlighting potential opportunities and trends to capitalize on in the coming years.

Asia Pacific region represented 43.9% of the overall revenue share in 2020.

The statistic “Asia Pacific region represented 43.9% of the overall revenue share in 2020” indicates that nearly half of the total revenue generated by the company or industry in 2020 came from countries within the Asia Pacific region. This suggests that the Asia Pacific region is a significant market for the company or industry, potentially highlighting strong economic growth, consumer demand, and market opportunities in that part of the world. The high revenue share also implies that businesses operating in the Asia Pacific region may hold substantial influence and importance in driving the overall financial performance of the company or industry.

The global construction equipment rental market size was valued at $92.9 billion in 2019.

The statistic indicates that the global construction equipment rental market was valued at $92.9 billion in 2019. This represents the total revenue generated by rental companies providing construction equipment such as excavators, bulldozers, and cranes on a temporary basis to contractors and construction companies. The significant size of the market suggests a high demand for rented construction equipment, likely driven by factors such as cost-effectiveness, flexibility, and avoidance of maintenance costs. This statistic is important for industry stakeholders to gauge the scale and growth potential of the rental market, as well as for investors to identify opportunities within the construction equipment rental sector.

The global construction equipment rental market is expected to grow at a CAGR of 4.8% during the forecast period 2020 to 2027.

This statistic suggests that the global construction equipment rental market is projected to experience a Compound Annual Growth Rate (CAGR) of 4.8% between the years 2020 and 2027. This signifies a steady and consistent growth rate over the forecast period. The CAGR represents the average annual growth rate of the market during this timeframe. The projection indicates that the demand for construction equipment rental services is expected to increase, likely driven by factors such as infrastructure development, urbanization, and the preference of businesses to rent rather than purchase expensive equipment. This growth forecast can provide valuable insights for industry stakeholders, investors, and policymakers to make informed decisions regarding investments, expansion strategies, and market trends in the construction equipment rental sector.

Approximately 97,706 construction equipment units were sold worldwide in 2020.

The statistic “Approximately 97,706 construction equipment units were sold worldwide in 2020” indicates the total number of construction equipment units that were purchased and distributed globally during the specified year. This statistic provides valuable insight into the demand for construction machinery and equipment in the industry, reflecting the level of construction activity and investment taking place worldwide. Monitoring the number of units sold can help manufacturers, suppliers, and other stakeholders in the construction sector understand market trends, identify growth opportunities, and make informed decisions regarding production and inventory management. Additionally, analyzing this statistic over time can reveal patterns and fluctuations in equipment sales, which can be crucial for forecasting future market conditions and adapting strategies accordingly.

In 2020, the North American market for construction equipment reached around 133,300 units.

The statistic indicates that in 2020, the North American market for construction equipment saw sales of approximately 133,300 units. This data point provides insights into the demand and activity within the construction equipment industry in North America during the specified year. The number of units sold serves as a key metric for assessing the level of construction projects and infrastructure development in the region. It also gives stakeholders, including manufacturers, suppliers, and investors, an indication of market performance and trends. The statistic highlights the scale of the market and serves as a benchmark for evaluating future growth and potential opportunities within the construction equipment sector in North America.

The excavator market size in the global construction machinery segment was USD 48.46 billion in 2019.

The statistic indicates that the total market value of excavators within the global construction machinery segment was USD 48.46 billion in the year 2019. This figure represents the total sales and revenue generated from the sales of excavators worldwide during that year. The market size reflects the significant economic importance and demand for excavators in the construction industry, highlighting the substantial investment and activity in infrastructure development and construction projects globally. This statistic serves as a key indicator for industry analysts, investors, and policymakers to assess the health and trends within the construction machinery sector on a global scale.

The market for construction equipment in Europe in 2019 had a share of 21%.

The statistic ‘The market for construction equipment in Europe in 2019 had a share of 21%’ indicates that out of the total market for construction equipment in Europe during that year, 21% of it was attributed to the specific sector of construction equipment. This figure represents the proportion of sales, revenue, or some other measure of market activity for construction equipment within the overall market in Europe. This statistic provides valuable insight into the size and significance of the construction equipment industry within the European market, potentially reflecting the demand and investment in construction activities during that time period.

China is projected to lead revenue huge by 2027, generating revenue over USD 48 billion.

The statistic “China is projected to lead revenue huge by 2027, generating revenue over USD 48 billion” indicates that China is forecasted to be the top revenue generator in a particular industry or market by the year 2027, surpassing all other countries or entities in terms of revenue generation. With an estimated revenue exceeding USD 48 billion, this projection highlights China’s expected dominance and significant contribution to the total revenue in the specified sector. This statistic suggests that China’s economic activities and market performance are anticipated to be robust and leading on a global scale in the near future.

Global demand for construction machinery will rise 3.9% annually through 2023.

The statistic indicates that there is an expected annual growth rate of 3.9% in the global demand for construction machinery from the present year through the year 2023. This growth rate suggests a positive trend in the construction industry, signaling increased investment and activity in construction projects worldwide. Factors driving this growth are likely to include increased urbanization, infrastructure development, and technological advancements in machinery. The statistic is important for industry stakeholders, such as manufacturers, suppliers, and investors, as it provides insights into the potential market opportunities and trends that may impact their business decisions and strategies in the coming years.

Africa construction equipment market reached USD 7 billion in 2019.

The statistic ‘Africa construction equipment market reached USD 7 billion in 2019’ represents the total value of construction equipment sales in Africa for that year. This figure indicates the size and significance of the construction equipment industry in Africa, highlighting substantial investment and demand for equipment such as excavators, bulldozers, cranes, and more in the region. The market size of USD 7 billion suggests a thriving construction sector in Africa, with ongoing infrastructure projects, urban development, and industrial growth driving the need for construction machinery to support these activities. Additionally, the statistic implies opportunities for equipment manufacturers, suppliers, and distributors to capitalize on the growing market and meet the equipment needs of construction companies and developers across the continent.

The global construction machines shipping is estimated at 132,700 units for H1 2021.

The statistic indicates that a total of 132,700 construction machines, such as bulldozers, excavators, and cranes, are estimated to have been shipped worldwide during the first half of 2021. This figure serves as a measure of the level of activity within the construction industry and demonstrates the demand for heavy machinery used in various construction projects globally. The data could be used by stakeholders, manufacturers, and policymakers to assess market trends, economic activity, and potential growth opportunities within the construction sector.

Global skid steer loader shipments are expected to grow from 63,600 units in 2018 to 76,000 units in 2026.

The statistic indicates that the global shipments of skid steer loaders are projected to increase from 63,600 units in 2018 to 76,000 units by the year 2026. This represents a growth rate over this period, reflecting an anticipated expansion in the demand for skid steer loaders worldwide. Factors such as increasing urbanization, infrastructure development, and a rising need for construction equipment are likely driving this upward trend in shipments. This statistic provides insight into the expected market growth and potential opportunities for manufacturers and other stakeholders in the skid steer loader industry to capitalize on this projected increase in demand.

The global cranes market size was valued at USD 33.83 billion in 2018.

The statistic indicates that the total value of the global market for cranes reached USD 33.83 billion in 2018. This value represents the monetary worth of all cranes sold and used within that particular year across various industries and regions worldwide. The size of the market reflects the demand for cranes as essential equipment in construction, infrastructure development, manufacturing, and other sectors where heavy lifting and material handling are required. The figure serves as a key indicator of the market’s economic significance and growth potential, highlighting the importance of cranes in facilitating industrial operations and driving economic activity on a global scale.

The global cranes market is anticipated to grow at a compound annual growth rate (CAGR) of 6% from 2019-2025.

The statement indicates that the global cranes market is projected to experience steady growth over the period from 2019 to 2025, with a compound annual growth rate (CAGR) of 6%. This suggests that, on average, the market size for cranes is expected to increase by 6% each year during this timeframe. The CAGR provides a more comprehensive picture of the growth trajectory compared to a simple average, as it accounts for the compounding effect over time. The forecasted growth rate of 6% indicates a positive outlook for the cranes market, likely driven by factors such as infrastructure development, construction projects, and industrial expansion globally.

The demand for hydraulic cranes in the construction industry is expected to grow at a CAGR of 5.9% from 2019 to 2025.

This statistic indicates the projected Compound Annual Growth Rate (CAGR) of the demand for hydraulic cranes within the construction industry from 2019 to 2025. A CAGR of 5.9% implies that the demand for hydraulic cranes is expected to increase at a steady rate of 5.9% each year on average over the specified period. This growth rate suggests a positive trend in the construction industry, indicating potentially increasing construction activities and the need for hydraulic cranes to support these projects. Investors, manufacturers, and stakeholders in the crane industry can use this statistic to anticipate market trends and make informed decisions regarding production, investment, and resource allocation.

Conclusion

The global construction equipment industry statistics paint a robust and promising picture for the future of this sector. With continuous growth in key regions and a rising demand for infrastructure development worldwide, the industry is poised for steady expansion in the coming years. As companies strive for innovation and efficiency to meet the evolving needs of the market, we can expect to see further advancements and investments in technology, sustainability, and safety practices across the industry. Overall, the statistics indicate a bright outlook for the global construction equipment industry and suggest a promising trajectory for its growth and development.

References

0. – https://www.www.statista.com

1. – https://www.www.mdm.com

2. – https://www.www.researchandmarkets.com

3. – https://www.www.techsciresearch.com

4. – https://www.www.fortunebusinessinsights.com

5. – https://www.www.gminsights.com

6. – https://www.www.grandviewresearch.com

7. – https://www.www.statsandreports.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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