Heavy Construction Equipment Business Report 2024: Global Market to Grow by Over $105 Billion by 2030 - Expansion of Mining and Extraction Activities Generates Demand for Specialized Equipment - ResearchAndMarkets.com

The "Heavy Construction Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Heavy Construction Equipment was estimated at US$208.5 Billion in 2023 and is projected to reach US$314.4 Billion by 2030, growing at a CAGR of 6.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the heavy construction equipment market is driven by several factors, including increasing government investments in infrastructure development, rising demand for smart and sustainable cities, and technological advancements in construction machinery. The rapid urbanization in emerging economies has led to a surge in residential and commercial construction activities, driving demand for advanced equipment.

Additionally, the rising focus on reducing construction time and labor costs has led to the adoption of more automated and efficient machines. Environmental regulations promoting the use of eco-friendly equipment, coupled with the growing trend toward electrification in heavy machinery, are also key drivers of market growth. Furthermore, the expansion of mining and energy projects, particularly in regions rich in natural resources, is propelling demand for specialized heavy equipment.

How Do Market Segments Influence the Growth of the Heavy Construction Equipment Industry?

By type, the market includes earthmoving equipment, material handling equipment, and heavy-duty vehicles, with earthmoving equipment such as excavators and loaders holding the largest market share due to their widespread use in construction and mining. Applications of heavy construction equipment are found in infrastructure, mining, oil & gas, and industrial construction, with the infrastructure segment leading the market as governments worldwide invest heavily in transportation and urban development projects. End-users of heavy equipment range from construction companies and mining firms to infrastructure development agencies, with construction companies dominating the market as urbanization and industrialization fuel demand for new projects.

Why Is the Heavy Construction Equipment Market Critical for Global Infrastructure Development?

The heavy construction equipment market plays a vital role in global infrastructure development, encompassing a wide range of machinery used in building, excavation, road construction, and other large-scale projects. This market is driven by increasing urbanization, industrialization, and government investments in infrastructure projects such as highways, bridges, airports, and smart cities.

Heavy equipment such as excavators, bulldozers, cranes, loaders, and graders are indispensable in the construction sector due to their ability to improve operational efficiency, reduce labor costs, and complete projects within shorter timelines. The demand for advanced construction machinery is growing rapidly, particularly in emerging economies where large-scale development projects are underway to support growing populations and economic activities.

How Are Technological Innovations Shaping the Heavy Construction Equipment Market?

Technological advancements are significantly transforming the heavy construction equipment market, with the integration of GPS, telematics, and automation systems into modern machinery. These technologies enhance operational efficiency, allowing for real-time monitoring of equipment performance, predictive maintenance, and better fleet management.

Autonomous and semi-autonomous construction equipment, powered by artificial intelligence (AI), is also gaining traction, especially in regions facing labor shortages. Electric and hybrid machinery is another key trend as construction companies strive to reduce carbon emissions and comply with environmental regulations. Additionally, the use of drones and 3D printing in construction is complementing the use of heavy equipment, enabling more precise planning and execution of large-scale projects.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Excavation & Demolition segment, which is expected to reach US$97.8 Billion by 2030 with a CAGR of a 7.7%. The Heavy Lifting segment is also set to grow at 6.1% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $54.7 Billion in 2023, and China, forecasted to grow at an impressive 9.2% CAGR to reach $72.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as AB Volvo, Caterpillar, Inc., CNH Industrial N.V., and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Global Economic Update
• Heavy Construction Equipment - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Infrastructure Development Projects Globally Propel Growth in Heavy Construction Equipment
• Rising Government Investments in Smart Cities Expands Addressable Market for Heavy Construction Equipment
• Technological Advancements in Autonomous and Semi-Autonomous Machinery Strengthen Business Case for Adoption
• Growing Demand for Energy-Efficient and Eco-Friendly Construction Equipment Spurs Innovation
• Surge in Urbanization Drives Demand for Heavy Construction Equipment in Emerging Markets
• Expansion of Mining and Extraction Activities Generates Demand for Specialized Heavy Equipment
• Increasing Focus on Construction Equipment Electrification Expands Market Opportunities
• Rising Adoption of Telematics and Fleet Management Solutions Propels Growth in Equipment Monitoring
• Growing Focus on Modular and Prefabricated Construction Techniques Drives Equipment Innovation
• Increasing Rental and Leasing Trends for Heavy Equipment Sustain Market Growth
• Rising Focus on Worker Safety and Automation Spurs Innovation in Operator-Assistance Technologies
• Digitalization in Construction Through BIM (Building Information Modeling) Expands Demand for Connected Machinery

FOCUS ON SELECT PLAYERS(Total 42 Featured)

• AB Volvo
• Caterpillar, Inc.
• CNH Industrial N.V.
• Deere & Company
• Doosan Infracore Ltd.
• Hitachi Construction Machinery Co., Ltd.
• Hyundai Heavy Industries Co., Ltd.
• JCB Ltd.
• Komatsu Ltd.
• Liebherr AG
• Sany Heavy Equipment International Holdings Co., Ltd
• Terex Corporation
• Volvo Construction Equipment
• XCMG Group
• Xuzhou Construction Machinery Group Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/1ydq4x

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