Sales of construction equipment - worldwide by region 2018 & 2023
Global sales of construction equipment are expected to reach approximately 1.1 million units by 2023. The global construction equipment market is projected to remain flat between 2018 and 2023 with construction equipment sales predicted to hover around the one million unit mark.
Construction equipment sales worldwide
China is the largest market worldwide. In Asia’s largest economy, demand for construction equipment is expected to reach 250,430 units by 2023. This figure represents a 16 percent decline over 2018. In the wake of the financial crisis of 2008-09, the Chinese construction equipment market had experienced growth across all segments within the sector. There is hope that China's construction industry will also drive demand growth amid the coronavirus pandemic.
Caterpillar is the largest construction machinery manufacturer globally. In 2018, the company generated over 23 billion U.S. dollars in revenue from construction equipment sales, followed by Japan’s Komatsu at about 22 billion U.S. dollars.
Construction equipment sales worldwide
China is the largest market worldwide. In Asia’s largest economy, demand for construction equipment is expected to reach 250,430 units by 2023. This figure represents a 16 percent decline over 2018. In the wake of the financial crisis of 2008-09, the Chinese construction equipment market had experienced growth across all segments within the sector. There is hope that China's construction industry will also drive demand growth amid the coronavirus pandemic.
Caterpillar is the largest construction machinery manufacturer globally. In 2018, the company generated over 23 billion U.S. dollars in revenue from construction equipment sales, followed by Japan’s Komatsu at about 22 billion U.S. dollars.
