Building And Road Construction Equipment Market Size and Forecast 2024-2033|Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd

Overview and Scope

Building and road construction equipment refers to self-propelled or towed equipment used directly in building and road construction

Sizing and Forecast

The building and road construction equipment market size has grown rapidly in recent years. It will grow from $181.99 billion in 2023 to $202.35 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to economic growth, infrastructure development, urbanization, replacement and modernization.

The building and road construction equipment market size is expected to see rapid growth in the next few years. It will grow to $300.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to infrastructure investment, smart construction, sustainable construction practices, urbanization trends, rental market expansion. Major trends in the forecast period include technological advancements, autonomous and remote-controlled equipment, digital twin technology, customization and versatility.

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Segmentation & Regional Insights

The building and road construction equipment market covered in this report is segmented –

1) By Product Type: Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer, Bulldozers, Other Product Types

2) By Equipment Category: Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Other Equipment Categories

3) By Application: Building Construction, Road Construction

Asia-Pacific was the largest region in the building and road construction equipment market in 2023. Western Europe was the second-largest region in the building and road construction equipment market. The regions covered in the building and road construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Infrastructure development in emerging and developed countries propelled the building and road construction equipment market. Emerging and developed countries’ governments and private sector are focusing on developing the infrastructure to keep up the GDP, meet the growing population needs, meet the levels of urbanization, and increase connectivity by developing highways and expressways. For instance, the total Indian investment in road construction was worth $22.4 billion with private investment accounting for 14% of the total investments. Furthermore, according to the World Bank, the private sector infrastructure investment commitments for low- and middle-income countries were valued at $76.2 billion in 2021, which was a 49% increase from 2020 globally. Governments and private sectors of developed and emerging sectors focus on infrastructure developments and require high-tech equipment for the construction process to make it easy and less time-consuming which further acts as a major driver for the growth of the building and road construction equipment market.

Key Industry Players

Major companies operating in the building and road construction equipment market include Volvo Group, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Terex Corporation, Atlas Copco Group, Deere and Company, Sany Heavy Industry Co. Ltd., Wacker Neuson SE, CNH Industrial NV, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Wirtgen Group, Kobelco Construction Machinery Co. Ltd., Manitowoc Company Inc., Bell Equipment Ltd., Astec Industries Inc., Bopparder Maschinenbau-Gesellschaft mbH, Case Construction Equipment, FAYAT Group, Gomaco Corporation Inc., HAMM AG, JLG Industries Inc., Konecranes Oyj, Kubota Corporation, LiuGong Machinery Corp. Ltd., Manitou Group, Palfinger AG, Putzmeister Holding GmbH, Sennebogen Maschinenfabrik GmbH, Tadano Ltd., Takeuchi Mfg. Co. Ltd.

The building and road construction equipment market report table of contents includes:

1. Executive Summary

2. Building And Road Construction Equipment Market Characteristics

3. Building And Road Construction Equipment Market Trends And Strategies

4. Building And Road Construction Equipment Market – Macro Economic Scenario

5. Global Building And Road Construction Equipment Market Size and Growth

26. South America Building And Road Construction Equipment Market

27. Brazil Building And Road Construction Equipment Market

28. Middle East Building And Road Construction Equipment Market

29. Africa Building And Road Construction Equipment Market

30. Building And Road Construction Equipment Market Competitive Landscape And Company Profiles

Top Major Players: