Construction Equipment Market Updates

Construction Equipment Market size was valued at USD 155.91 Billion in 2023 and is poised to grow from USD 161.83 Billion in 2024 to USD 218.09 Billion by 2032, growing at a CAGR of 3.8% during the forecast period (2025-2032).

Liebherr-International AG (Switzerland), Caterpillar Inc. (United States), AB Volvo (Sweden), HD Hyundai Construction Equipment Co Ltd (South Korea), Hitachi (Japan), Deere & Company (United States), J C Bamford Excavators Ltd. (JCB) (United Kingdom), Komatsu Ltd. (Japan), CNH Industrial NV (United Kingdom), XCMG Construction Machinery Co Ltd (China), KUBOTA Corporation (Japan), SANY Group (China), Terex Corporation (United States), Manitou BF SA (France), Wacker Neuson SE (Germany)

SkyQuest's research shows that increasing urbanization and infrastructure growth in emerging markets such as India, China, and Indonesia are strongly influencing the worldwide construction equipment market. As the global real estate market is anticipated to expand from USD 4.11 trillion in 2024 to USD 6.31 trillion by 2032 at a 5.5% CAGR, equipment like excavators, loaders, and concrete machinery are in increased demand.

Demand for electric-powered construction equipment is gaining speed with stricter worldwide emissions standards, increasing fuel prices, and city construction regulations that require low-noise, zero-emission equipment.

Asia Pacific became the leading construction equipment market in 2024, fueled by increasing urbanization, growing mega infrastructure programs, and robust local manufacturing capacity. Our insights show that regional governments are investing aggressively in smart cities, transportation corridors, and green infrastructure, resulting in sustained demand for sophisticated machinery.