Global construction equipment market size 2020-2025
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.