What is Global Construction Machinery Market?
The Global Construction Machinery Market is a vast and dynamic sector that encompasses a wide range of heavy machinery used in construction activities. This market includes equipment such as cranes, excavators, loaders, rollers, and concrete machinery, among others. These machines are primarily used in the construction of infrastructure, buildings, and public works projects. The market's value was estimated at US$ 146160 million in 2023 and is projected to reach US$ 160670 million by 2030, growing at a compound annual growth rate (CAGR) of 3.5% during the forecast period 2024-2030.
Excavation Machinery, Loading Machinery, Roller Machinery, Cranes, Concrete Machinery, Others in the Global Construction Machinery Market:
The Global Construction Machinery Market is segmented into various types of machinery. Excavation machinery is used for digging and removing earth, while loading machinery is used to load materials onto other machinery or vehicles. Roller machinery is used to compact soil, gravel, concrete, or asphalt in the construction of roads and foundations. Cranes are used to lift and lower materials and to move them horizontally. Concrete machinery is used to mix and distribute concrete. Other types of machinery include pavers, compactors, and backhoe loaders. Each type of machinery has its unique purpose and application in the construction industry.
Public Construction, Roadworks, Others in the Global Construction Machinery Market:
The Global Construction Machinery Market finds its application in various areas. Public construction involves the use of construction machinery in the building of infrastructure such as roads, bridges, and public buildings. Roadworks involve the use of machinery in the construction and maintenance of roads. Other applications of construction machinery include mining, agriculture, and forestry. The choice of machinery depends on the nature of the construction activity.
Global Construction Machinery Market Outlook:
The Global Construction Machinery Market outlook indicates a steady growth in the coming years. In 2023, the market was valued at US$ 146160 million and is expected to reach US$ 160670 million by 2030, growing at a CAGR of 3.5% during the forecast period 2024-2030. The market is dominated by the top three players who hold about 63% of the market share. China is the largest producer of construction machinery, holding around 46% of the production share, followed by North America and Europe with 18% and 17% respectively. In terms of market consumption, China leads with about 38% market share, followed by North America and Europe with around 20% and 17% market share respectively.
| Report Metric | Details |
| Report Name | Construction Machinery Market |
| Accounted market size in 2023 | US$ 146160 million |
| Forecasted market size in 2030 | US$ 160670 million |
| CAGR | 3.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Caterpillar, SANY Group Company Ltd., Komatsu, XCMG, Zoomlion, Wirtgen, Volvo Construction Equipment, Liebherr Group, Hitachi Construction Machinery, Hyundai Doosan Infracore, Liugong, JCB, Kobelco, Case, Kubota |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
