The study encompassed four primary tasks to determine the present and future scope of the construction equipment market. Initially, extensive secondary research was conducted to gather data on the market, its related sectors, and overarching industries. Subsequently, these findings and assumptions were corroborated and validated through primary research involving industry experts across the value chain. The complete market size was estimated by using both top-down and bottom-up methodology. Following this, a market breakdown and data triangulation approach were utilized to determine the size of specific segments and subsegments within the market.
Secondary Research
The secondary sources referred to the company's annual reports/presentations, industry association publications, directories, technical handbooks, World Economic Outlook, technical articles, and databases, which were used to identify and collect information for an extensive study of the construction equipment market. The secondary sources used while estimating the market sizing are the Association of Equipment Manufacturers, the Committee for European Construction Equipment (CECE), corporate filings (such as annual reports, investor presentations, and financial statements), and off-highway associations. Secondary data was collected and analyzed to determine the overall market size, further validated through primary research. The primary sources—experts from related industries, OEMs, rental service players, and component suppliers—were interviewed to obtain and verify critical information and assess prospects and market estimations. Historical sales data has been collected and analyzed, and the industry trend is considered to arrive at the forecast, which is further validated by primary research.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.
Primary interviews have been conducted to gather insights such as construction equipment market sizing estimation and forecast, future technology trends, and upcoming technologies in the construction equipment market. Data triangulation of all these points was done using the information gathered from secondary research and model mapping. Stakeholders from the demand and supply sides have been interviewed to understand their views on the aforementioned points.
Note: Other designations include sales, marketing, and product managers.
Source: Secondary Research, Primary Interviews, and MarketsandMarkets Analysis
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
A detailed market estimation approach was followed to estimate and validate the value of the construction equipment market and other dependent submarkets, as mentioned below.
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The bottom-up approach was used to estimate and validate the construction equipment market size. The construction equipment market size, by equipment and country, was derived by mapping the historical sales of different equipment at the country level. These data points were largely fetched from the country-level associations, off-highway databases, and OEM data excerpts. The market size, by value, was derived by multiplying the equipment-wise average selling price with the respective equipment volume calculated in units. Each country/region's total volume and value of each country/ region are then summed up to reveal the total volume of the global construction equipment market for each type. The data was validated through primary interviews with industry experts. The construction equipment market is further segmented into the equipment categorywhich includes power output, engine capacity, propulsion, and electric construction equipment. The penetration of different segments was derived from secondary research and primary interviews.
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The gathered market data was consolidated, enhanced with detailed inputs, analyzed, and presented in this report.
Construction Equipment Market : Top-Down and Bottom-Up Approach
Data Triangulation
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in the report.
Market Definition
CONSTRUCTION EQUIPMENT: Construction equipment refers to a wide range of heavy machinery and tools used in the commercial, residential, and infrastructure sectors. These machines play a crucial role in enhancing the quality, safety, and productivity of construction projects. Common types of construction equipment include excavators, loaders, dozers, graders, scrapers, dump trucks, mixers, compactors, and cranes. Each type of equipment is designed to handle specific tasks, enabling construction teams to complete projects more efficiently and safely.
Stakeholders
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Construction Equipment manufacturers
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Raw Material Suppliers for Construction Equipment component/system manufacturers
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Consulting companies (Road, Building & Infrastructure)
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Tier 1 companies (Aftertreatment device manufacturers & component suppliers)
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Battery, motor, and other electric construction equipment part suppliers
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Equipment service providers
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Off-Vehicle Safety Regulatory Bodies
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Government and research institutions
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Off-highway and heavy equipment associations
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Rental equipment service providers
Report Objectives
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To define, describe, and forecast the Construction Equipment market in terms of value (USD million) and volume (thousand units) based on the following segments:
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By Equipment Type (Articulated Dump Trucks, Asphalt Finishers, Backhoe Loaders, Crawler Dozers, Crawler Excavators, Crawler Loaders, Mini Excavators, Motor Graders, Motor Scrapers, Rigid Dump Trucks, Road Rollers, Rough Terrain Lift Truck (RTLT) Masted, Rough Terrain Lift Truck (RTLT) Telescopic, Skid-Steer Loaders, Wheeled Excavators, Wheeled Loaders <80 HP, Wheeled Loaders >80 HP, Compactors, and Pick and Carry Cranes)
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By Equipment Category (Earthmoving, Material Handling, Heavy Construction Vehicles, Others)
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By Propulsion Type (Diesel, CNG/LNG/RNG)
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By Power Output (<100HP, 101-200HP, 201-400HP, >400 HP)
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By Engine Capacity (<5L, 5-10L,>10L)
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By Application (Commercial, Residential, Infrastructure)
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By Aftertreatment Device (Diesel Oxidation Catalyst, Diesel Particulate Filter, Exhaust Gas Recirculation, Selective Catalyst Reduction)
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Rental, by Application (Commercial, Residential, Infrastructure)
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Electric & hybrid Construction Equipment Market, By Equipment Type (Electric Dump Truck, Electric Dozer, Electric Loader, Electric Excavator, Electric Motor Grader, Electric Load Haul Dump)
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Electric Construction Equipment Market, By Battery Chemistry (Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt Oxide, Others)
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Compact construction Equipment Market, Global Shipment by OEM (Bobcat, Caterpillar, Hitachi Construction Equipment, CNH Industrial, Hyundai Construction Equipment Co., Ltd, JCB, Deere & Company, Komatsu, Kubota Corporation, Liebherr, Liugong Machinery Co., Ltd, Terex Corporation, AB Volvo, Wacker Neuson SE, Yanmar Holdings Co., Ltd, Kobelco)
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By Region (Asia Pacific, Europe, North America, The Middle East, and the Rest of the World)
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To understand the dynamics (drivers, restraints, opportunities, and challenges) of the market
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To analyze the market share of leading players operating in the construction equipment market and evaluate the company evaluation quadrant.
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To strategically analyze key player strategies and company revenue analysis
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To study the following with respect to the market
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Trends and Disruptions Impacting Customers’ Businesses
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Market Ecosystem
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Supply Chain Analysis
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Patent Analysis
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Regulatory Landscape
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Case Study Analysis
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Key Conferences and Events
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Investment and Funding Scenario
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Pricing Analysis
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To analyze recent developments, including supply contracts, new product launches, expansions, and mergers & acquisitions undertaken by key industry participants in the market
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To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY
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Construction& Infrastructure
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Mining
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Oil & Gas
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Manufacturing
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Others
Note: This chapter will be further segmented at the country level in terms of volume and value
CONSTRUCTION EQUIPMENT MARKET, BY EMISSION REGULATION
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STAGE II
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STAGE III
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STAGE III a
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STAGE III b
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STAGE IV
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STAGE V
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STAGE VI
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TIER 3
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TIER 4
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TIER 5
Note: This chapter will be further segmented at the country level in terms of volume and value
ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY
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China
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India
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Japan
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Indonesia
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US
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Canada
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Mexico
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Germany
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UK
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France
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Italy
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Spain
Note: This chapter will be further segmented at the regional level (Asia Pacific, Europe, North America, and the Rest of the World) in terms of volume and value
Andrew
May, 2022
We would like to know more about how electric construction equipment market and special application products for the further expansion of the European market..
Thomas
Jun, 2022
Who are the top vendors in the Construction Equipment Market? How is the competitive scenario among them?.
Akshit
Jun, 2019
we are looking at setting up a website to sell new and used construction and mining equipment for Africa, there is nothing at the moment .
Atul
Jun, 2019
My company deals with construction equipment, we buy equipment in large number and then sell them to export from Japan to all over the world. .
Nilesh
Jun, 2019
We are trying to evaluate the market size of backhoes, excavators, dozers, skid steers, front end loaders, and articulated dump trucks. This will help prioritize where time and energy are spent. .
Nilesh
Jun, 2019
Looking to identify U.S. market share by brand (Case, Cat, etc...) for various types of construction equipment..