Heavy Construction Equipment Market

Heavy Construction Equipment Market by Machinery Type (Earthmoving equipment, Material Handling Equipment, Heavy Construction Vehicles), Propulsion Type (Diesel, CNG/LNG/RNG, Electric), Engine Capacity, End-Use Industry & Region-Global Forecast to 2028

Report Code: BC 3630 Sep, 2023, by marketsandmarkets.com

Heavy Construction Equipment Market

The global heavy construction equipment market was valued at USD 190.3 billion in 2022 and is projected to reach USD 252.4 billion by 2028, growing at 4.8% cagr during the forecast period. Over the world, the heavy construction equipment market is expanding significantly, and during the forecast period, a similar trend is anticipated. The demand for heavy construction equipment has been driven by several factors, including the increasing investments in construction & infrastructure sectors. The major end-use segments of heavy construction equipment include mining, infrastructure, building &construction, forestry & agriculture, and others.

Mining is the principal economic activity that involves extracting minerals and rare earth minerals from the earth. Rising demands for minerals and rare earth minerals has driven the industry growth, which has played an essential part in encouraging mining equipment companies to offer technologically advanced equipment that enables in performing better mining operations such as drilling, crushing, and demolition.. Crawler excavators, crawler dozers, motor graders, articulated dump trucks, rigid dump trucks, wheeled loaders, and mining trucks are among the mining equipment employed.. Asia Pacific is estimated to be the largest mining heavy construction equipment market. This large share can be attributed to China, which is home to major mining equipment manufacturers such as Sany Heavy Industry and XCMG Group. Being a mineral richmineral-rich country, it uses crawler excavators and rigid dump trucks on a large scale, specifically for domestic mining applications

Infrastructure applications include several segments and are not limited to the construction of dams, bridges, railways, aqueducts, railways, road networks, and ports. The majority of these projects are government-funded and may take years to build, and the companies may remain engaged in providing services for years. Infrastructural activities are projected to grow as they are critical in improving connectivity and promoting sustainable growth. Rental construction equipment are is widely used in infrastructure projects due to the long durationduration of projects and the focus of engaged companies to limit capital expenditure.

Attractive Opportunities in Heavy Construction Equipment Market Trends

Heavy Construction Equipment Market

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Heavy Construction Equipment Market

Heavy Construction Equipment Market Dynamics

Driver: Rapid Urbanization

The increasing demand for heavy construction equipment is largely driven by the increasing population. The global scenario of people migrating from rural to urban areas has raised this growth rate even further. In 2018, 55% of the world’s population liveds in urban areas, a proportion that is expected to increase to 68% by 2050. Projections show that urbanization, the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s global population could add another 2.5 billion people to urban areas by 2050, with close to 90% of this increase taking place in Asia and Africa, according to a new United Nations data set.

In recent years, the Asia Pacific region, which primarily includes emerging markets such as India and China, has progressed tremendously significantly in the heavy construction industry. Together, India, China and Nigeria will are expected to account for 35% of the projected growth of the world’s urban population between 2018 and 2050. By 2050, it is projected that India will have added 416 million urban dwellers, China 255 million, and Nigeria 189 million.

Improvement in living standards of people around the world has also fueled demand for improved hygiene and sanitation requirements, leading to the increased use of heavy construction equipment for public work projects.

Restraint: Socio-Economic effects of heavy construction activities

Socio-economic implications such as relocation/resettlement of host communities is a major issue faced by companies in the construction and mining industries. In India, as per The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, relocation/resettlement of host communities is required to vacate the required land so that government agencies can acquire it for construction/mining purposes. This involves price negotiations for acquiring suitable alternative land for the resettlement of these host communities. Since the public at large disapproves of such construction and mining projects, it acts as a restraining factor for market growth.

Opportunity: renting or leasing of equipment

Renting or leasing heavy construction equipment is considered beneficial to construction contract companies, as it fulfills the client’s requirement for the equipment without paying the full price. One of the merits of renting/leasing is that it may be tailored to the required specification, specific equipment requirements, and income expectations. Renting or leasing heavy construction equipment is determined by criteria such as the asset's duration of use, improvements in technology during the amount of time it will be utilized, and the tax benefits associated with leasing/renting of equipment. Because of these variables, contractors prefer to rent rather than buy equipment, unless it can be used for more than 75 percent of the year. Businesses may also access more and diverse types of equipment while leveraging the greatest technologies available by leasing. As a result, this provides an option for heavy construction equipment market participants to use the machinery without incurring purchase expenditures.

Challenge: High cost of equipment

One of the biggest challenges faced by the heavy construction equipment industry is its high capital requirement. Service providers of heavy construction equipment have to invest huge amounts for the purchase and to maintainmaintenance of the equipment. For such industries, it is crucial for their survival and growth that a proper balance be maintained between the requirement of the equipment requirement and its ability to generate profits or obtain financing. This requirement for huge investments requirement also creates entry barriers to the market, which constrains the volume demand for the equipment, causing leading to low scope for price reductions, owing to low economies of scale.

Material handling equipment type of heavy construction equipment products to be the fastest growing market by 2028, in terms of value.

Material-handling equipment are is mechanical equipment used for the movement, storage, control, and protection of materials, goods, and products in the process of manufacturing, distribution, consumption, and disposal. Material-handling equipment is classified into four major categories – transport equipment, positioning equipment, unit load formation equipment, and storage equipment. It includes equipment such as cranes, conveyors and forklifts.

Electric type of heavy construction equipment products to be the fastest growing market by 2028, in terms of value.

The current battery technology is not developed enough to operate the standard and large large-capacity off-highway vehicles. Hence, due to the limited battery capacity, the electrification in construction equipment is limited to mini versions of construction vehicles like such as mini excavators and compact/skid loaders. Few companies offer cable-connected off-highway vehicles, where charging limitations are reduced. Thus, construction equipment that requires more power to operate uses hybrid-electric technology. Some of the major hybrid-electric construction equipment include dozers and mine dump trucks. Asia Pacific is expected to be the largest market for electric heavy construction equipment during the forecast period, owing to the development of heavy construction projects. With the growing electrification and the presence of many leading equipment manufacturers, the North American electric heavy equipment market is predicted to grow withrecord a the highest CAGR of 5.7% during between 2023 and 2028.

5-10 L type of heavy construction equipment products to be the fastest growing market by 2028, in terms of value.

Construction equipment with engine capacity ranging between 5-10L are is primarily used for ground leveling construction, roads, railways, dams, and urban infrastructure. An increase in investment in commercial projects is one of the major factors driving the demand for engines with 5-10L capacity. Construction equipment like such as crawler excavators, compactors, and road rollers, and others are found under this engine capacity category.  Heavy construction equipment with 5-10L engine capacity is used in rough terrain, increasing the operating cost and fuel consumption. The demand for construction equipment with 5-10L engine capacity in Asia is expected to remain high as heavy equipment are is used in huge commercial and infrastructure projects.

<100 HP type of heavy construction equipment products to be the second fastest growing market by 2028, in terms of value.

Heavy construction equipment with less than 100 HP is easy to maneuver and performs tasks in limited space, especially for highway repair and maintenance projects. The compact heavy construction equipment with a power output of less than 100 HP is particularly used in urban areas where space is limited. Some low-power heavy construction equipment includes mini excavators, compactors, and loaders. The trend for less than 100 HP construction equipment like the mini excavator would grow due to their ability to work in intricate and remote places. Thus, this trend would create a growth opportunity for the <100 HP power segment during the forecast period.

Heavy lifting application segment to be the second largest segment in the heavy construction equipment market, in terms of value.

Heavy lifting operation is a process for the lowering and lifting of load. Lifting operations are inherent in the construction industry and. They are used during the transportation of material from the storage place to the place where it is to be processed, and during the processing of materials. Heavy lifting equipment is used for constructing large frameworks and tall buildings. As the name suggests, heavy lifting equipment is specially designed to lift weight of several tons. Cranes and telescopic handlers are the most commonly used heavy lifting equipment in the construction industry.

Infrastructure end-use industry segment to be the fastest growing segment in the heavy construction equipment market, in terms of value.

Infrastructure applications include several segments and are not limited to the construction of dams, bridges, railways, aqueducts, railways, road networks, and ports. The majority of these projects are government-funded and may take years to build, and the companies may remain engaged in providing services for years. In addition, the expansion of government infrastructure development projects and public–private partnerships for the construction ofto construct public infrastructure systems in countries such as the US, India, and China, has aided market growth. The US government has made significant investments in the construction ofconstructing roads, railway tracks, and other infrastructure, which necessitates the employment of excavators, loaders, and other heavy equipment. For instance, in March 2021, the US President introduced a USD- 2 trillion infrastructure plan, which includes transportation, broadband, electric grid, and residential & commercial constructions.

Asia Pacific to be the fastest growing market in the heavy construction equipment market.

Asia Pacific accounted for the largest market share of at 36.8% in of the global heavy construction equipment market, in terms of volume, and is projected to lead during the forecast period owing to the largest existing wind energy capacity installations in China, Japan, India, and Australia. The heavy construction equipment market has experienced growth in terms of the number of projects such as dams, airports, and hydroelectric projects, due to which many international companies have started their manufacturing plants in this region. Some remarkable construction projects, such as the Beijing New International Airport (China) and the South to North Water Transfer Project (China), are set up in the region. The region is estimated to be the most populated in the world, which creates opportunities for the growth of the heavy construction equipment market.

Some major projects driving the region's heavy construction equipment market are the Songdo International Business District in South Korea and the China-–Pakistan Economic Corridor. These mega projects have led to increased investments and construction activities, thereby driving the heavy construction equipment market.

Heavy Construction Equipment Market by Region

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Heavy Construction Equipment Market Players

The heavy construction equipment market is dominated by a few globally established players such as Caterpillar (US), Liebherr AG (Germany), Terex Corporation (US), Volvo Group (Sweden), Komatsu (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), SANY Heavy Industry Co., Ltd. (China), HD Hyundai (South Korea), XCMG Group (China), CNH Industrial N.V. (UK), and J C Bamford Excavators Ltd (UK), among others, are the key manufacturers that secured major contracts in the last few years.

These companies are pursuing a variety of inorganic and organic strategies in order to gain a foothold in the heavy construction equipment market. The research includes a detailed competitive analysis of these key players in the heavy construction equipment market, including company profiles, recent developments, and key market strategies.

Heavy Construction Equipment Market Report Scope

Report Metric

Details

Market Size Value in 2022

USD 190.3 billion

Revenue Forecast in 2028

USD 252.4 billion

CAGR

4.8%

Market size available for years

2018–2028

Base year considered

2022

Forecast period

2023–2028

Units considered

Value (USD million/billion), Volume (Kiloton)

Segments Covered

By Machinery Type, By Application, By Propulsion Type, By Power Output, By Engine Capacity, By End-use Industry, Region

Geographies covered

Europe, North America, Asia Pacific, South America, the Middle East, and Africa

Companies covered

Caterpillar (US), Liebherr AG (Germany), Terex Corporation (US), Volvo Group (Sweden), Komatsu (Japan), Hitachi Construction Machinery Co., Ltd. (Japan), SANY Heavy Industry Co., Ltd. (China), HD Hyundai (South Korea), XCMG Group (China), and CNH Industrial N.V. (UK)

The study categorizes the heavy construction equipment market based on Machinery Type, Application, Propulsion Type, Power Output, Engine Capacity, End-use Industry, and Region.

Heavy Construction Equipment Market by Machinery Type:
  • Earthmoving Equipment
  • Material Handling Equipment
  • Heavy Construction Vehicles
  • Others
Heavy Construction Equipment Market by Application:
  • Excavation & Demolition
  • Heavy Lifting
  • Material Handling
  • Tunneling
  • Transportation
  • Recycling & Waste Management
Heavy Construction Equipment Market by Propulsion Type:
  • Disel
  • CNG/LNG/RNG
  • Electric
Heavy Construction Equipment Market by Power Output:
  • <100 HP
  • 101-200 HP
  • 201-400 HP
  • >400 HP
Heavy Construction Equipment Market by Engine Capacity:
  • <5L
  • 5-10 L
  • >10 L
Heavy Construction Equipment Market by End-use Industry:

Recent Developments

  • In August 2023, Hack Schwerlastservice GmbH has taken delivery of a new LTM 1110-5.1 mobile crane. With the Liebherr 110-tonne crane, the Neuwied-based company is expanding its fleet.
  • In July 2023, HD Hyundai Infracore signed an MOU on ‘Mutual Partnership with Korean East-West Power to develop Hydrogen Internal Combustion Engines (H2ICE) and target the clean energy generation market.
  • In July 2023, Komatsu announced a national cooperative contract for construction equipment with related attachments and technology awarded through Sourcewell.
  • Sourcewell is a service cooperative with membership exceeding 60,000 government, education and nonprofit entities throughout North America.
  • In May 2023, Sany signed a strategic cooperation agreement with Guangxi Shenglong Metallurgical Co Ltd to drive green transformation in the steel industry.
  • The event also marked the completion of a USD 12 million procurement deal that saw Sany deliver thirty-five EV550 electric tractors, fifty electric dump trucks, and a battery swapping station to Shenglong Metallurgical.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 53)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
          FIGURE 1 HEAVY CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNITS CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 57)
    2.1 RESEARCH DATA 
          FIGURE 2 HEAVY CONSTRUCTION EQUIPMENT MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                                TABLE 1 PRIMARY INTERVIEWS – LEADING HEAVY CONSTRUCTION EQUIPMENT MANUFACTURERS
                    2.1.2.2 Breakdown of primary interviews
                    2.1.2.3 Key industry insights
    2.2 BASE NUMBER CALCULATION 
           2.2.1 APPROACH 1: DEMAND-SIDE ANALYSIS
           2.2.2 APPROACH 2: SUPPLY-SIDE ANALYSIS
    2.3 FORECAST NUMBER CALCULATION 
           2.3.1 SUPPLY SIDE
           2.3.2 DEMAND SIDE
    2.4 MARKET SIZE ESTIMATION 
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.5 DATA TRIANGULATION 
          FIGURE 5 HEAVY CONSTRUCTION EQUIPMENT MARKET: DATA TRIANGULATION
    2.6 RECESSION IMPACT 
    2.7 FACTOR ANALYSIS 
    2.8 RESEARCH ASSUMPTIONS 
    2.9 RESEARCH LIMITATIONS AND RISKS 
 
3 EXECUTIVE SUMMARY (Page No. - 67)
    FIGURE 6 EARTHMOVING EQUIPMENT SEGMENT DOMINATED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 7 MATERIAL HANDLING WAS LARGEST SEGMENT IN HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 8 DIESEL PROPULSION SEGMENT DOMINATED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 9 101-200 HP POWER OUTPUT SEGMENT ACCOUNTED FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 10 <5 L ENGINE CAPACITY SEGMENT LED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 11 MINING END-USE INDUSTRY WAS LARGEST SEGMENT IN HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
    FIGURE 12 ASIA PACIFIC WAS LARGEST HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 72)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAVY CONSTRUCTION EQUIPMENT MARKET 
          FIGURE 13 INFRASTRUCTURE SEGMENT TO DRIVE MARKET
    4.2 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE, 2022 
          FIGURE 14 EARTHMOVING EQUIPMENT SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2022
    4.3 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2022 
          FIGURE 15 MATERIAL HANDLING WAS LARGEST SEGMENT IN 2022
    4.4 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE, 2022 
          FIGURE 16 DIESEL PROPULSION SEGMENT DOMINATED MARKET IN 2022
    4.5 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022 
          FIGURE 17 101-200 HP SEGMENT LED MARKET IN 2022
    4.6 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY, 2022 
          FIGURE 18 <5 L SEGMENT DOMINATED MARKET IN 2022
    4.7 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2022 
          FIGURE 19 MINING SEGMENT LED MARKET IN 2022
    4.8 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY KEY COUNTRIES 
          FIGURE 20 INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 76)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN HEAVY CONSTRUCTION EQUIPMENT MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing investments in construction and infrastructure sectors
                                TABLE 2 LIST OF INFRASTRUCTURE DEVELOPMENT PROJECTS
                    5.2.1.2 Rapid urbanization
                    5.2.1.3 Rising demand in emerging countries
                    5.2.1.4 Technological advancements and upgrades
                    5.2.1.5 Demand for sustainable solutions
                                TABLE 3 KEY ELECTRIC AND HYBRID CONSTRUCTION EQUIPMENT MODELS
           5.2.2 RESTRAINTS
                    5.2.2.1 Stringent government regulations
                    5.2.2.2 Socio-economic effects of heavy construction activities
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Renting or leasing equipment
                    5.2.3.2 Digitization of services
                                TABLE 4 HEAVY CONSTRUCTION EQUIPMENT MARKET: DIGITAL SERVICES BY OEMS
                    5.2.3.3 Demand for autonomous heavy construction equipment
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of equipment
                    5.2.4.2 Lack of skilled labor force and maintenance & repair-related issues
                    5.2.4.3 Development of alternative optimized solutions
    5.3 PORTER'S FIVE FORCES ANALYSIS 
          FIGURE 22 PORTER'S FIVE FORCES ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 5 PORTER'S FIVE FORCES ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET
    5.4 SUPPLY CHAIN ANALYSIS 
          TABLE 6 HEAVY CONSTRUCTION EQUIPMENT MARKET: SUPPLY CHAIN
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE BY END-USE INDUSTRY, BY KEY PLAYERS
                    FIGURE 23 AVERAGE SELLING PRICE FOR TOP THREE END-USE INDUSTRIES, BY KEY PLAYERS (USD MILLION/KG)
                    FIGURE 24 AVERAGE SELLING PRICE BY MACHINERY TYPE
                    FIGURE 25 AVERAGE SELLING PRICE BY END-USE INDUSTRY (USD MILLION/KG)
    5.6 AVERAGE SELLING PRICE, BY REGION 
          TABLE 7 AVERAGE SELLING PRICE OF HEAVY CONSTRUCTION EQUIPMENT, BY REGION
    5.7 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.7.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE  END-USE INDUSTRIES
                    TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE  END-USE INDUSTRIES
           5.7.2 BUYING CRITERIA
                    FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
                    TABLE 9 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 OVERVIEW
                    5.8.1.1 Autonomous heavy construction equipment
                    5.8.1.2 Connected technologies
                    5.8.1.3 Grade control system
    5.9 KEY CONFERENCES AND EVENTS, 2023–2024 
          TABLE 10 HEAVY CONSTRUCTION EQUIPMENT MARKET: KEY CONFERENCES AND EVENTS, 2023–2024
    5.10 GLOBAL REGULATORY FRAMEWORK AND ITS IMPACT ON HEAVY CONSTRUCTION EQUIPMENT MARKET 
           5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 14 MIDDLE EAST: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
                     TABLE 15 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS
           5.10.2 REGULATORY ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET
    5.11 ECOSYSTEM ANALYSIS 
           FIGURE 28 ECOSYSTEM ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET
    5.12 VALUE CHAIN ANALYSIS 
           FIGURE 29 VALUE CHAIN ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET
    5.13 TRADE ANALYSIS: KEY MARKETS FOR IMPORT/EXPORT 
           5.13.1 JAPAN
           5.13.2 US
           5.13.3 CHINA
    5.14 CASE STUDIES 
    5.15 TRENDS IMPACTING CUSTOMER BUSINESS 
    5.16 PATENT ANALYSIS 
           5.16.1 METHODOLOGY
           5.16.2 DOCUMENT TYPE
                     TABLE 16 HEAVY CONSTRUCTION EQUIPMENT MARKET: GLOBAL PATENTS
                     FIGURE 30 GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE
                     FIGURE 31 GLOBAL PATENT PUBLICATION TREND: 2012–2022
           5.16.3 INSIGHTS
           5.16.4 LEGAL STATUS OF PATENTS
                     FIGURE 32 HEAVY CONSTRUCTION EQUIPMENT MARKET: LEGAL STATUS OF PATENTS
           5.16.5 JURISDICTION ANALYSIS
                     FIGURE 33 GLOBAL JURISDICTION ANALYSIS
           5.16.6 TOP APPLICANTS’ ANALYSIS
                     FIGURE 34 VOLVO TRUCK CORP REGISTERED HIGHEST NUMBER OF PATENTS
           5.16.7 LIST OF PATENTS
                     TABLE 17 LIST OF PATENTS
 
6 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE (Page No. - 108)
    6.1 INTRODUCTION 
          FIGURE 35 EARTHMOVING EQUIPMENT SEGMENT ACCOUNTED FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET
          TABLE 18 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (USD MILLION)
          TABLE 19 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS)
          TABLE 20 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2023–2028 (USD MILLION)
          TABLE 21 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS)
    6.2 EARTHMOVING EQUIPMENT 
           6.2.1 INCREASED CONSTRUCTION AND MINING ACTIVITIES TO DRIVE GROWTH
                    FIGURE 36 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN EARTHMOVING EQUIPMENT MARKET
                    TABLE 22 EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 23 EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 24 EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 25 EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
           6.2.2 EXCAVATORS
                    6.2.2.1 Crawler excavators
                    6.2.2.2 Mini excavators
                    6.2.2.3 Wheeled excavators
           6.2.3 LOADERS
                    6.2.3.1 Wheeled loaders
                    6.2.3.2 Skid-steer loaders
           6.2.4 DOZERS
           6.2.5 MOTOR GRADERS
           6.2.6 OTHERS
    6.3 MATERIAL HANDLING EQUIPMENT 
           6.3.1 INCREASE IN INFRASTRUCTURE AND CONSTRUCTION ACTIVITIES TO DRIVE MARKET
                    FIGURE 37 ASIA PACIFIC TO LEAD MATERIAL HANDLING EQUIPMENT MARKET BY 2028
                    TABLE 26 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 27 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 28 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 29 MATERIAL HANDLING HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
           6.3.2 CRANES
           6.3.3 TELESCOPIC HANDLERS
           6.3.4 OTHERS
                    6.3.4.1 Conveyors
                    6.3.4.2 Forklifts
    6.4 HEAVY CONSTRUCTION VEHICLES 
           6.4.1 GROWING USAGE IN INDUSTRIAL AND DEVELOPMENTAL PROJECTS TO DRIVE MARKET
                    FIGURE 38 ASIA PACIFIC TO BE LARGEST MARKET IN HEAVY CONSTRUCTION VEHICLES MARKET
                    TABLE 30 HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 31 HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 32 HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 33 HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)
    6.5 OTHERS 
          FIGURE 39 ASIA PACIFIC TO BE LARGEST MARKET FOR OTHER HEAVY CONSTRUCTION EQUIPMENT
          TABLE 34 OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
          TABLE 35 OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
          TABLE 36 OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
          TABLE 37 OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
           6.5.1 COMPACTORS & ROAD ROLLERS
           6.5.2 PAVERS/ASPHALT FINISHERS
           6.5.3 DRILLING/BORING MACHINES
 
7 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE (Page No. - 122)
    7.1 INTRODUCTION 
          FIGURE 40 DIESEL SEGMENT ACCOUNTED FOR MAJOR SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022
          TABLE 38 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2018–2022 (USD MILLION)
          TABLE 39 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)
          TABLE 40 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2023–2028 (USD MILLION)
          TABLE 41 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS)
    7.2 DIESEL 
           7.2.1 INCREASED CONSTRUCTION AND MINING ACTIVITIES TO DRIVE GROWTH
                    FIGURE 41 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF DIESEL-POWERED HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 42 DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 43 DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 44 DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 45 DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
    7.3 CNG/LNG/RNG 
           7.3.1 DEMAND FOR ALTERNATIVE FUEL TO DRIVE MARKET
                    FIGURE 42 ASIA PACIFIC TO LEAD CNG/LNG/RNG HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028
                    TABLE 46 CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 47 CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 48 CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 49 CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
    7.4 ELECTRIC 
           7.4.1 GROWING USAGE IN INDUSTRIAL AND DEVELOPMENTAL PROJECTS TO DRIVE MARKET
                    FIGURE 43 ASIA PACIFIC TO BE LARGEST MARKET FOR ELECTRIC HEAVY CONSTRUCTION EQUIPMENT
                    TABLE 50 ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 51 ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 52 ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 53 ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)
 
8 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY (Page No. - 131)
    8.1 INTRODUCTION 
          FIGURE 44 <5 L SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET
          TABLE 54 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (USD MILLION)
          TABLE 55 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (UNITS)
          TABLE 56 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2023–2028 (USD MILLION)
          TABLE 57 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS)
    8.2 <5 L 
           8.2.1 DEMAND FOR COMPACT CONSTRUCTION EQUIPMENT TO DRIVE GROWTH
                    FIGURE 45 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN <5 L HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 58 <5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 59 <5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 60 <5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 61 <5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
    8.3 5-10 L 
           8.3.1 INCREASING APPLICATIONS TO DRIVE MARKET
                    FIGURE 46 ASIA PACIFIC TO LEAD 5-10 L HEAVY CONSTRUCTION EQUIPMENT MARKET  BY 2028
                    TABLE 62 5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 63 5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 64 5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 65 5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
    8.4 >10 L 
           8.4.1 LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET
                    FIGURE 47 ASIA PACIFIC TO BE LARGEST MARKET IN >10 L HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 66 >10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 67 >10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 68 >10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 69 >10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)
 
9 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT (Page No. - 140)
    9.1 INTRODUCTION 
          FIGURE 48 101-200 HP SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028
          TABLE 70 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (USD MILLION)
          TABLE 71 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS)
          TABLE 72 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2023–2028 (USD MILLION)
          TABLE 73 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (UNITS)
    9.2 <100 HP 
           9.2.1 ROAD MAINTENANCE AND REPAIR PROJECTS TO DRIVE SEGMENT
                    FIGURE 49 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN <100 HP HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 74 <100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 75 <100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 76 <100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 77 <100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
    9.3 101-200 HP 
           9.3.1 LOW MAINTENANCE COST TO FAVOR MARKET GROWTH
                    FIGURE 50 ASIA PACIFIC TO LEAD 101-200 HP HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028
                    TABLE 78 101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 79 101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 80 101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 81 101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
    9.4 201-400 HP 
           9.4.1 LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET
                    FIGURE 51 ASIA PACIFIC TO BE LARGEST MARKET IN 201-400 HP HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 82 201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 83 201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (UNITS)
                    TABLE 84 201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 85 201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (UNITS)
    9.5 >400 HP 
           9.5.1 LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET
                    FIGURE 52 ASIA PACIFIC TO BE LARGEST >400 HP HEAVY CONSTRUCTION EQUIPMENT MARKET
                    TABLE 86 >400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)
                    TABLE 87 >400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)
                    TABLE 88 >400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)
                    TABLE 89 >400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)
 
10 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION (Page No. - 151)
     10.1 INTRODUCTION 
             FIGURE 53 MATERIAL HANDLING SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET
             TABLE 90 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)
             TABLE 91 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (UNITS)
             TABLE 92 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
             TABLE 93 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS)
     10.2 MATERIAL HANDLING 
             10.2.1 EXTENSIVE USE IN END-USE INDUSTRIES TO DRIVE MARKET
                        TABLE 94 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 95 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                        TABLE 96 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 97 MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
     10.3 TRANSPORTATION 
             10.3.1 INCREASING USE IN TRANSPORTATION OF BUILDING MATERIALS TO DRIVE MARKET
                        TABLE 98 TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 99 TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                        TABLE 100 TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 101 TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
     10.4 EXCAVATION & DEMOLITION 
             10.4.1 INCREASING DEMAND FOR LOW-FUEL CONSUMPTION EXCAVATORS TO DRIVE MARKET
                        TABLE 102 EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 103 EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                        TABLE 104 EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 105 EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
     10.5 HEAVY LIFTING 
             10.5.1 GROWING DEMAND FOR CRANES AND TELESCOPIC HANDLERS TO DRIVE MARKET
                        TABLE 106 HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 107 HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                        TABLE 108 HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 109 HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
     10.6 TUNNELING 
             10.6.1 INVESTMENTS IN IMPROVING ROAD AND RAIL CONNECTIVITY TO DRIVE SEGMENT
                        TABLE 110 TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 111 TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                        TABLE 112 TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 113 TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
     10.7 RECYCLING & WASTE MANAGEMENT 
             10.7.1 STRINGENT GOVERNMENT REGULATIONS TO HAMPER SEGMENT GROWTH
                        TABLE 114 RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2018–2022 (USD MILLION)
                        TABLE 115 RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2018–2022 (UNITS)
                        TABLE 116 RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2023–2028 (USD MILLION)
                        TABLE 117 RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2023–2028 (UNITS)
 
11 HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY (Page No. - 164)
     11.1 INTRODUCTION 
             FIGURE 54 MINING SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET
             TABLE 118 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
             TABLE 119 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
             TABLE 120 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
             TABLE 121 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
     11.2 MINING 
             11.2.1 INCREASING DEMAND FOR MINERALS AND RARE EARTH METALS TO DRIVE MARKET
                        TABLE 122 MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 123 MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                        TABLE 124 MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 125 MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
     11.3 INFRASTRUCTURE 
             11.3.1 GOVERNMENT INFRASTRUCTURE PROJECTS TO DRIVE MARKET
                        TABLE 126 INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 127 INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)
                        TABLE 128 INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)
                        TABLE 129 INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)
     11.4 BUILDING & CONSTRUCTION 
             11.4.1 COMMERCIAL DEVELOPMENTS IN EMERGING ECONOMIES TO DRIVE MARKET
                        TABLE 130 BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 131 BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                        TABLE 132 BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 133 BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
     11.5 FORESTRY & AGRICULTURE 
             11.5.1 HIGH DEMAND FOR DOZERS TO DRIVE MARKET
                        TABLE 134 FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 135 FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
                        TABLE 136 FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 137 FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
     11.6 OTHERS 
             TABLE 138 OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
             TABLE 139 OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
             TABLE 140 OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 141 OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
 
12 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION (Page No. - 175)
     12.1 INTRODUCTION 
             TABLE 142 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)
             TABLE 143 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)
             TABLE 144 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 145 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)
     12.2 NORTH AMERICA 
             FIGURE 55 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT
             12.2.1 RECESSION IMPACT ON NORTH AMERICA
             12.2.2 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE
                        TABLE 146 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION)
                        TABLE 147 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS)
                        TABLE 148 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,2023–2028 (USD MILLION)
                        TABLE 149 NORTH AMERICA HEACY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS)
             12.2.3 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE
                        TABLE 150 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION)
                        TABLE 151 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)
                        TABLE 152 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,2023–2028 (USD MILLION)
                        TABLE 153 NORTH AMERICA HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION,  2023–2028 (UNITS)
             12.2.4 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY
                        TABLE 154 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION)
                        TABLE 155 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS)
                        TABLE 156 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,2023–2028 (USD MILLION)
                        TABLE 157 NORTH AMERICA HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS)
             12.2.5 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY POWER OUTPUT
                        TABLE 158 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION)
                        TABLE 159 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS)
                        TABLE 160 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,2023–2028 (USD MILLION)
                        TABLE 161 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (UNITS)
             12.2.6 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY APPLICATION
                        TABLE 162 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)
                        TABLE 163 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022
                        TABLE 164 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                        TABLE 165 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (UNITS)
             12.2.7 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY
                        TABLE 166 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 167 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022
                        TABLE 168 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 169 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
             12.2.8 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY COUNTRY
                        TABLE 170 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                        TABLE 171 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (UNITS)
                        TABLE 172 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
                        TABLE 173 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (UNITS)
                        12.2.8.1 US
                                     12.2.8.1.1 Expansion of commercial construction sector to drive market
                                                      TABLE 174 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 175 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 176 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 177 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.2.8.2 Canada
                                     12.2.8.2.1 Upcoming mining and infrastructural projects to drive growth
                                                      TABLE 178 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 179 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 180 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 181 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.2.8.3 Mexico
                                     12.2.8.3.1 Increasing investments in construction and infrastructure sector to drive growth
                                                      TABLE 182 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 183 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 184 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 185 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
     12.3 EUROPE 
             FIGURE 56 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT
             12.3.1 RECESSION IMPACT ON EUROPE
             12.3.2 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE
                        TABLE 186 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (USD MILLION)
                        TABLE 187 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (UNITS)
                        TABLE 188 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2023–2028 (USD MILLION)
                        TABLE 189 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2023–2028 (UNITS)
             12.3.3 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE
                        TABLE 190 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2018–2022 (USD MILLION)
                        TABLE 191 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2018–2022 (UNITS)
                        TABLE 192 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION)
                        TABLE 193 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2023–2028 (UNITS)
             12.3.4 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY
                        TABLE 194 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (USD MILLION)
                        TABLE 195 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (UNITS)
                        TABLE 196 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2023–2028 (USD MILLION)
                        TABLE 197 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2023–2028 (UNITS)
             12.3.5 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY POWER OUTPUT
                        TABLE 198 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (USD MILLION)
                        TABLE 199 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (UNITS)
                        TABLE 200 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION)
                        TABLE 201 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2023–2028 (UNITS)
             12.3.6 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY APPLICATION
                        TABLE 202 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)
                        TABLE 203 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022
                        TABLE 204 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                        TABLE 205 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (UNITS)
             12.3.7 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY
                        TABLE 206 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 207 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022
                        TABLE 208 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                        TABLE 209 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
             12.3.8 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY
                        TABLE 210 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                        TABLE 211 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS)
                        TABLE 212 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
                        TABLE 213 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS)
                        12.3.8.1 Germany
                                     12.3.8.1.1 Increase in demand for compact construction equipment to drive market
                                                      TABLE 214 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 215 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 216 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 217 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.3.8.2 France
                                     12.3.8.2.1 Rapid development of metropolitan areas to drive market
                                                      TABLE 218 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 219 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 220 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 221 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.3.8.3 UK
                                     12.3.8.3.1 Improving residential construction projects to drive market
                                                      TABLE 222 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 223 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 224 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 225 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.3.8.4 Russia
                                     12.3.8.4.1 Increasing demand for material handling equipment to drive market
                                                      TABLE 226 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 227 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 228 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 229 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.3.8.5 Rest of Europe
                                      TABLE 230 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 231 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                      TABLE 232 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                      TABLE 233 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
     12.4 ASIA PACIFIC 
             FIGURE 57 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT
             12.4.1 RECESSION IMPACT ON ASIA PACIFIC
             12.4.2 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE
                        TABLE 234 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (USD MILLION)
                        TABLE 235 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (UNITS)
                        TABLE 236 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION)
                        TABLE 237 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2023–2028 (UNITS)
             12.4.3 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE
                        TABLE 238 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION)
                        TABLE 239 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)
                        TABLE 240 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION)
                        TABLE 241 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS)
             12.4.4 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY
                        TABLE 242 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (USD MILLION)
                        TABLE 243 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (UNITS)
                        TABLE 244 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION)
                        TABLE 245 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2023–2028 (UNITS)
             12.4.5 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY POWER OUTPUT
                        TABLE 246 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (USD MILLION)
                        TABLE 247 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (UNITS)
                        TABLE 248 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2023–2028 (USD MILLION)
                        TABLE 249 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2023–2028 (UNITS)
             12.4.6 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY APPLICATION
                        TABLE 250 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)
                        TABLE 251 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022
                        TABLE 252 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                        TABLE 253 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (UNITS)
             12.4.7 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY
                        TABLE 254 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 255 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022
                        TABLE 256 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 257 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
             12.4.8 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY COUNTRY
                        TABLE 258 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                        TABLE 259 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (UNITS)
                        TABLE 260 ASIA-PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
                        TABLE 261 ASIA-PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (UNITS)
                        12.4.8.1 China
                                     12.4.8.1.1 Huge government investments in mining sector to drive market
                                                      TABLE 262 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 263 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022
                                                      TABLE 264 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 265 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.4.8.2 India
                                     12.4.8.2.1 Improving business condition to drive market
                                                      TABLE 266 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 267 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022
                                                      TABLE 268 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 269 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.4.8.3 Japan
                                     12.4.8.3.1 Increasing government support for construction sector to drive market
                                                      TABLE 270 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 271 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 272 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 273 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.4.8.4 Australia
                                     12.4.8.4.1 Booming mining activities to drive market
                                                      TABLE 274 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 275 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022
                                                      TABLE 276 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 277 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.4.8.5 Rest of Asia Pacific
                                      TABLE 278 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 279 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022
                                      TABLE 280 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                      TABLE 281 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
     12.5 MIDDLE EAST & AFRICA 
             12.5.1 RECESSION IMPACT ON MIDDLE EAST & AFRICA
             12.5.2 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE
                        TABLE 282 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION)
                        TABLE 283 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS)
                        TABLE 284 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION)
                        TABLE 285 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS)
             12.5.3 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE
                        TABLE 286 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION)
                        TABLE 287 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)
                        TABLE 288 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION)
                        TABLE 289 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS)
             12.5.4 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY TYPE
                        TABLE 290 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION)
                        TABLE 291 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS)
                        TABLE 292 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION)
                        TABLE 293 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS)
             12.5.5 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE
                        TABLE 294 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION)
                        TABLE 295 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS)
                        TABLE 296 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION)
                        TABLE 297 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE, 2023–2028 (UNITS)
             12.5.6 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION TYPE
                        TABLE 298 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
                        TABLE 299 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (UNITS)
                        TABLE 300 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 301 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS)
             12.5.7 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY TYPE
                        TABLE 302 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 303 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                        TABLE 304 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 305 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
             12.5.8 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY
                        TABLE 306 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 307 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS)
                        TABLE 308 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 309 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS)
                        12.5.8.1 Saudi Arabia
                                     12.5.8.1.1 Vision 2030 plan to be major growth driver
                                                      TABLE 310 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                      TABLE 311 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                                      TABLE 312 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                                      TABLE 313 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
             12.5.9 SOUTH AFRICA
                        12.5.9.1 Increase in non-residential construction activities to drive market
                                      TABLE 314 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 315 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                      TABLE 316 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                      TABLE 317 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
                        12.5.9.2 Turkey
                                     12.5.9.2.1 Rail infrastructure development activities to drive market
                                                      TABLE 318 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 319 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 320 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 321 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.5.9.3 Qatar
                                     12.5.9.3.1 Development and maintenance activities for commercial events to drive market
                                                      TABLE 322 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 323 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 324 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 325 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.5.9.4 UAE
                                     12.5.9.4.1 Growing tourism activities to drive market
                                                      TABLE 326 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 327 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 328 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 329 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.5.9.5 Rest of Middle East & Africa
                                      TABLE 330 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 331 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                      TABLE 332 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                      TABLE 333 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2023–2028 (UNITS)
     12.6 SOUTH AMERICA 
             12.6.1 RECESSION IMPACT ON SOUTH AMERICA
             12.6.2 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE
                        TABLE 334 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION)
                        TABLE 335 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS)
                        TABLE 336 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION)
                        TABLE 337 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS)
             12.6.3 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE
                        TABLE 338 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION)
                        TABLE 339 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)
                        TABLE 340 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION)
                        TABLE 341 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS)
             12.6.4 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY TYPE
                        TABLE 342 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION)
                        TABLE 343 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS)
                        TABLE 344 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION)
                        TABLE 345 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS)
             12.6.5 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY POWER OUTPUT TYPE
                        TABLE 346 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION)
                        TABLE 347 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS)
                        TABLE 348 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION)
                        TABLE 349 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE, 2023–2028 (UNITS)
             12.6.6 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY APPLICATION TYPE
                        TABLE 350 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)
                        TABLE 351 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (UNITS)
                        TABLE 352 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)
                        TABLE 353 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (UNITS)
             12.6.7 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY
                        TABLE 354 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 355 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                        TABLE 356 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                        TABLE 357 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
             12.6.8 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY COUNTRY
                        TABLE 358 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                        TABLE 359 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2018–2022 (UNITS)
                        TABLE 360 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (USD MILLION)
                        TABLE 361 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY,  2023–2028 (UNITS)
                        12.6.8.1 Brazil
                                     12.6.8.1.1 Increased hotel construction projects to drive market
                                                      TABLE 362 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 363 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 364 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 365 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.6.8.2 Argentina
                                     12.6.8.2.1 Growth of infrastructure projects to drive market
                                                      TABLE 366 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                      TABLE 367 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                                      TABLE 368 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                                      TABLE 369 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
                        12.6.8.3 Chile
                                     12.6.8.3.1 Increasing Rail infrastructure development activities to drive market
                                                      TABLE 370 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 371 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 372 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 373 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.6.8.4 Peru
                                     12.6.8.4.1 Growing Mining activities to drive market
                                                      TABLE 374 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 375 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)
                                                      TABLE 376 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)
                                                      TABLE 377 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)
                        12.6.8.5 Rest of South America
                                      TABLE 378 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 379 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS)
                                      TABLE 380 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                      TABLE 381 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS)
 
13 COMPETITIVE LANDSCAPE (Page No. - 268)
     13.1 INTRODUCTION 
     13.2 MARKET SHARE ANALYSIS 
             FIGURE 58 SHARE OF TOP COMPANIES IN HEAVY CONSTRUCTION EQUIPMENT MARKET
             TABLE 382 DEGREE OF COMPETITION:  HEAVY CONSTRUCTION EQUIPMENT MARKET
     13.3 MARKET RANKING 
             FIGURE 59 RANKING OF TOP FIVE PLAYERS IN HEAVY CONSTRUCTION EQUIPMENT MARKET
     13.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS 
             FIGURE 60 REVENUE ANALYSIS
     13.5 COMPANY EVALUATION MATRIX 
             TABLE 383 COMPANY PRODUCT FOOTPRINT
             TABLE 384 MACHINERY TYPE FOOTPRINT
             TABLE 385 COMPANY END-USE INDUSTRY FOOTPRINT
             TABLE 386 COMPANY REGION FOOTPRINT
     13.6 COMPANY EVALUATION MATRIX 
             13.6.1 STARS
             13.6.2 PERVASIVE PLAYERS
             13.6.3 EMERGING LEADERS
             13.6.4 PARTICIPANTS
                        FIGURE 61 HEAVY CONSTRUCTION EQUIPMENT MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022
     13.7 MARKET EVALUATION FRAMEWORK 
             TABLE 387 HEAVY CONSTRUCTION EQUIPMENT MARKET: DEALS, 2022–2023
             TABLE 388 HEAVY CONSTRUCTION EQUIPMENT: PRODUCT DEVELOPMENTS, 2022–2023
             TABLE 389 HEAVY CONSTRUCTION EQUIPMENT: OTHER DEVELOPMENTS, 2022–2023
     13.8 COMPETITIVE BENCHMARKING  OF KEY STARTUPS/SMES 
             TABLE 390 HEAVY CONSTRUCTION EQUIPMENT MARKET: DETAILED LIST OF KEY STARTUPS/SMES
             TABLE 391 HEAVY CONSTRUCTION EQUIPMENT MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     13.9 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 
             13.9.1 PROGRESSIVE COMPANIES
             13.9.2 RESPONSIVE COMPANIES
             13.9.3 DYNAMIC COMPANIES
             13.9.4 STARTING BLOCKS
                        FIGURE 62 HEAVY CONSTRUCTION EQUIPMENT MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2022
 
14 COMPANY PROFILES (Page No. - 295)
     14.1 KEY COMPANIES 
(overview, Products/Solutions/Services offered, Deals, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and competitive threats)*
             14.1.1 CATERPILLAR
                        TABLE 392 CATERPILLAR: COMPANY OVERVIEW
                        FIGURE 63 CATERPILLAR: COMPANY SNAPSHOT
             14.1.2 VOLVO GROUP
                        TABLE 393 VOLVO GROUP: COMPANY OVERVIEW
                        FIGURE 64 VOLVO GROUP: COMPANY SNAPSHOT
             14.1.3 KOMATSU
                        TABLE 394 KOMASTU: COMPANY OVERVIEW
                        FIGURE 65 KOMASTU: COMPANY SNAPSHOT
             14.1.4 HITACHI CONSTRUCTION MACHINERY CO., LTD.
                        TABLE 395 HITACHI CONSTRUCTION MACHINERY CO., LTD.: COMPANY OVERVIEW
                        FIGURE 66 HITACHI CONSTRUCTION MACHINERY CO., LTD.: COMPANY SNAPSHOT
             14.1.5 TEREX CORPORATION
                        TABLE 396 TEREX CORPORATION: COMPANY OVERVIEW
                        FIGURE 67 TEREX CORPORATION: COMPANY SNAPSHOT
             14.1.6 LIEBHERR AG
                        TABLE 397 LIEBHERR AG: COMPANY OVERVIEW
                        FIGURE 68 LIEBHERR AG: COMPANY SNAPSHOT
             14.1.7 SANY HEAVY INDUSTRY CO., LTD.
                        TABLE 398 SANY HEAVY INDUSTRY CO., LTD.: COMPANY OVERVIEW
             14.1.8 HD HYUNDAI
                        TABLE 399 HD HYUNDAI: COMPANY OVERVIEW
                        FIGURE 69 HD HYUNDAI: COMPANY SNAPSHOT
             14.1.9 XCMG GROUP
                        TABLE 400 XCMG GROUP: COMPANY OVERVIEW
                        FIGURE 70 XCMG GROUP: COMPANY SNAPSHOT
             14.1.10 CNH INDUSTRIAL N.V.
                        TABLE 401 CNH INDUSTRIAL N.V.: COMPANY OVERVIEW
                        FIGURE 71 CNH INDUSTRIAL N.V.: COMPANY SNAPSHOT
     14.2 OTHER PLAYERS 
             14.2.1 J C BAMFORD EXCAVATORS LTD.
                        TABLE 402 J C BAMFORD EXCAVATORS LTD.: COMPANY OVERVIEW
             14.2.2 WACKER NEUSON SE
                        TABLE 403 WACKER NEUSON SE: COMPANY OVERVIEW
             14.2.3 MANITOU GROUP
                        TABLE 404 MANITOU GROUP: COMPANY OVERVIEW
             14.2.4 ESCORTS KUBOTA LIMITED
                        TABLE 405 ESCORTS KUBOTA LIMITED: COMPANY OVERVIEW
             14.2.5 DEERE & COMPANY
                        TABLE 406 DEERE & COMPANY: COMPANY OVERVIEW
             14.2.6 ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD.
                        TABLE 407 ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             14.2.7 KOBELCO CONSTRUCTION MACHINERY CO., LTD.
                        TABLE 408 KOBELCO CONSTRUCTION MACHINERY CO., LTD.: COMPANY OVERVIEW
             14.2.8 SUMITOMO HEAVY INDUSTRIES, LTD.
                        TABLE 409 SUMITOMO HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
             14.2.9 HIAB
                        TABLE 410 HIAB: COMPANY OVERVIEW
             14.2.10 HIDROMEK
                        TABLE 411 HIDROMEK: COMPANY OVERVIEW
 
*Details on Business overview, Products/Solutions/Services offered, Deals, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
15 APPENDIX (Page No. - 350)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS 

The study involves two major activities in estimating the current market size for the heavy construction equipment market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the heavy construction equipment market. These secondary sources are annual reports, press releases & investor presentations of companies, white papers, certified publications, articles, regulatory bodies, trade directories, and databases.

Secondary research has been used to obtain key information about the supply chain of the heavy construction equipment industry, the market's monetary chain, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and regional markets. It has also been used to obtain information about the key developments that have taken place from a market-oriented perspective.

Primary Research

Extensive primary research was conducted after obtaining information regarding the heavy construction equipment market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from heavy construction equipment industry vendors; part integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the heavy construction equipment, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of heavy construction equipment and future outlook of their business which will affect the overall market.

The Breakup of Primary Research :

Heavy Construction Equipment Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

COMPANY NAME

DESIGNATION

Komatsu

Product Development Head

Volvo Group

CEO & Founder

Caterpillar

Heavy Construction quipment Consultant

XCMG Group 

Sales Head 

Market Size Estimation

The research methodology used to estimate the size of the heavy construction equipment market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in heavy construction equipment in different end-use industry of the heavy construction equipment at a regional level. Such procurements provide information on the demand aspects of the heavy construction equipment industry for each end-use industry. For each end-use industry, all possible segments of the heavy construction equipment market were integrated and mapped.

Heavy Construction Equipment Market Size: Botton Up Approach

Heavy Construction Equipment Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Heavy Construction Equipment Market Size: Top Down Approach

Heavy Construction Equipment Market Size, and Share

Data Triangulation

After arriving at the overall size of the heavy construction equipment market from the estimation process explained above, the total market has been split into several segments and subsegments. The data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both, the demand and supply sides. Apart from this, the market size has been validated using both, the top-down and bottom-up approaches.

Market Definition

Heavy construction equipment is specialized machinery that weighs more than 12 metric tons and performs specific construction or demolition work. The equipment is transportable, semi-permanent, or permanent, and is primarily used for earthmoving, lifting containers or materials, drilling holes in earth or rock, and in concrete and paving applications.

Key Stakeholders

  • Senior Management
  • End User
  • Finance/Procurement Department
  • R&D Department

Report Objectives

  • To define and segment the heavy construction equipment market based on machinery type, application, propulsion type, power output, engine capacity, end-use industry, and region
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
  • To analyze market segments and forecast the market sizes based on machinery type, application, propulsion type, power output, engine capacity, end-use industry, and region
  • To forecast the market sizes based on five main regions, North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide details of the competitive landscape
  • To analyze competitive developments in the market such as product launches/ developments, expansions, mergers & acquisitions, joint ventures, agreements, contracts, and partnerships
  • To profile key players and comprehensively analyze their market shares and core competencies

Available Customizations

MarketsandMarkets offers following customizations for this market report:

  • Additional country-level analysis of the heavy construction equipment market

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company's market
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
BC 3630
Published ON
Sep, 2023
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