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Construction equipment industry in the U.S. - statistics & facts

Clear-cut shifts began to emerge in global economic powers between the U.S. and Europe in the aftermath of the Second World War. The geographical distance the U.S. had from the rest of the world aided its safe socio-economic growth path not only during the war but provided a distinct position for the growth of industrial production across the U.S. With certain advantages, the U.S. heavy industrial manufacturing sector started to take off in the 1950s, which grew to shape one of the world's largest market. In 2020, the global construction equipment market is estimated to be sized at around 140 billion U.S. dollars with the North American market estimated to be the second biggest market for construction equipment worldwide.

U.S. firms in the construction machinery industry

Advancements in construction equipment brought rapid urbanization and major infrastructure to reach all over the world. In turn, the high demand for construction equipment has led to a high level of capacity and capability from machinery. The technology continues to make significant progress in efficiency and productivity. Manufacturers must invest heavily invest into research and development in order to keep up with their rivals. The industry began shifting towards high tech products that utilize connectivity, remote use, autonomous vehicles and electromobility. At the moment, the United States has one of the largest construction industries in the world, with their total value of new construction having grown since the global Recession. Illinois-based Caterpillar is one of the world’s largest construction machinery makers. Nevertheless, the economic changes suggest a critical position for the U.S. economy in the global market for construction machinery manufacturing. For instance, only two out of the twelve leading construction manufacturers globally are based in the U.S., whereas three out of the twelve are Chinese firms.

Competitive forces in the global market

The global competition already affects systematically the U.S. construction manufacturing industry. Shifting of economic powers towards the Asia-Pacific region already demonstrates itself in some parts of the U.S. industrial machinery production. For instance, the U.S. exports of industrial engines started to decline rapidly since 2014, down from 30.5 billion U.S. dollars in 2014 to 21 billion U.S. dollars in 2020. A somewhat downward pressure can also be observed in the overall U.S. construction machinery manufacturing sector. Besides, the industry revenue of construction machinery manufacturers in the U.S. has been stagnant at best since 2012. The overall tendency suggests that U.S. firms in this market are facing difficulty in regaining their market position. Yet, through diversified macroprudential regulations, the U.S. economy can still resist this declining business performance and dynamism. As a result of country competitiveness policies, between 2018 and 2021, the construction equipment unit sales from the North American region are expected to exceed China's sales.

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Construction equipment industry in the United States

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Construction equipment industry in the U.S. - statistics & facts

Clear-cut shifts began to emerge in global economic powers between the U.S. and Europe in the aftermath of the Second World War. The geographical distance the U.S. had from the rest of the world aided its safe socio-economic growth path not only during the war but provided a distinct position for the growth of industrial production across the U.S. With certain advantages, the U.S. heavy industrial manufacturing sector started to take off in the 1950s, which grew to shape one of the world's largest market. In 2020, the global construction equipment market is estimated to be sized at around 140 billion U.S. dollars with the North American market estimated to be the second biggest market for construction equipment worldwide.

U.S. firms in the construction machinery industry

Advancements in construction equipment brought rapid urbanization and major infrastructure to reach all over the world. In turn, the high demand for construction equipment has led to a high level of capacity and capability from machinery. The technology continues to make significant progress in efficiency and productivity. Manufacturers must invest heavily invest into research and development in order to keep up with their rivals. The industry began shifting towards high tech products that utilize connectivity, remote use, autonomous vehicles and electromobility. At the moment, the United States has one of the largest construction industries in the world, with their total value of new construction having grown since the global Recession. Illinois-based Caterpillar is one of the world’s largest construction machinery makers. Nevertheless, the economic changes suggest a critical position for the U.S. economy in the global market for construction machinery manufacturing. For instance, only two out of the twelve leading construction manufacturers globally are based in the U.S., whereas three out of the twelve are Chinese firms.

Competitive forces in the global market

The global competition already affects systematically the U.S. construction manufacturing industry. Shifting of economic powers towards the Asia-Pacific region already demonstrates itself in some parts of the U.S. industrial machinery production. For instance, the U.S. exports of industrial engines started to decline rapidly since 2014, down from 30.5 billion U.S. dollars in 2014 to 21 billion U.S. dollars in 2020. A somewhat downward pressure can also be observed in the overall U.S. construction machinery manufacturing sector. Besides, the industry revenue of construction machinery manufacturers in the U.S. has been stagnant at best since 2012. The overall tendency suggests that U.S. firms in this market are facing difficulty in regaining their market position. Yet, through diversified macroprudential regulations, the U.S. economy can still resist this declining business performance and dynamism. As a result of country competitiveness policies, between 2018 and 2021, the construction equipment unit sales from the North American region are expected to exceed China's sales.

Interesting statistics

In the following 3 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Construction equipment industry in the U.S.".

Statistics on the topic

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