The global construction equipment market was estimated at 136.3 billion U.S. dollars in 2020. This market is expected to increase to around 234.6 billion U.S. dollars by 2030.
Size of the global construction equipment market
Caterpillar and Komatsu are among the world’s leading manufacturers of construction equipment, which includes excavators, wheel loaders, pavers and concrete mixers. Construction machinery manufacturers sell their equipment to customers in the private as well as the public segment, the latter one being highly dependent on investment efforts undertaken by political decision makers. During the 2008-09 financial crisis, many politicians delayed the continued renewal of their countries’ infrastructure, resulting in a stark decline in market volume particularly in mature economies such as Japan.
The global market for construction equipment is expected to grow at a compound annual growth rate of 5.9 percent between 2021 and 2030. There is hope that the Chinese market will stabilize, and India is also expected to hold large potential for growth.
Global construction equipment market size between 2020 and 2025
(in billion U.S. dollars)
* Projection. The values have been rounded.
This Statista estimate is based on the 2030 values and the compound annual growth rate from 2021 to 2030 of 5.9 percent, which were provided by the source. An exponential development of the market was assumed.
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Statista. (March 2, 2022). Global construction equipment market size between 2020 and 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 23, 2022, from https://www.statista.com/statistics/280344/size-of-the-global-construction-machinery-market/
Statista. "Global construction equipment market size between 2020 and 2025 (in billion U.S. dollars)." Chart. March 2, 2022. Statista. Accessed May 23, 2022. https://www.statista.com/statistics/280344/size-of-the-global-construction-machinery-market/
Statista. (2022). Global construction equipment market size between 2020 and 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 23, 2022. https://www.statista.com/statistics/280344/size-of-the-global-construction-machinery-market/
Statista. "Global Construction Equipment Market Size between 2020 and 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 2 Mar 2022, https://www.statista.com/statistics/280344/size-of-the-global-construction-machinery-market/
Statista, Global construction equipment market size between 2020 and 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/280344/size-of-the-global-construction-machinery-market/ (last visited May 23, 2022)