Industry revenue of “construction machinery manufacturing“ in the U.S. 2011-2023

The market for construction machinery in the U.S. is expected to witness tepid growth over the next few years growing from 32.5 billion U.S. dollars in 2018 to just 33.7 billion U.S. dollars in 2023. Near stagnant population growth which limits the number of residential and non-residential projects, the growing popularity of the online shopping model and more offshore hi-tech jobs, are the primary reasons for restricted growth in the country’s residential and non-residential construction sectors.

Energy related mega-projects to drive spending

The U.S. has only recently become a powerhouse in energy having primarily been an importer of oil and gas for the last 10-20 years. Now, it is not only energy independent but also a major exporter of Liquefied Natural Gas (LNG). Therefore the public and private sector is expected to spend heavily on building the required infrastructure to keep pace with these growing oil and gas production and distribution trends. Robin Rorick, director of the American Petroleum Institute, estimates this amount to be as much as 1.3 trillion U.S. dollars through 2035 with these spending levels driving the demand for related machinery.

Industry revenue of “construction machinery manufacturing“ in the U.S. from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

The industry classification is based on the Naics 2017 - system in the U.S.. The industry “construction machinery manufacturing“ has the code “33312“.

Details on the methodology can be found here.

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Statistics on "Construction equipment industry in the U.S."

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