Asia Pacific Construction Equipment Market Size - By Demand (New Demand, Aftermarket), By Product (Earthmoving & Road Building Equipment, Material Handling & Cranes, Concrete Equipment), Sales Channel & Forecast, 2023 – 2032

Asia Pacific Construction Equipment Market Size

Asia Pacific Construction Equipment Market size is anticipated to record 5% CAGR between 2023 to 2032, driven by the ongoing construction & infrastructure transformation activities across some major countries in the region.
 

Rapid urbanization, rising population, and economic growth are accelerating the development of large-scale construction projects, such as residential complexes, commercial structures, transportation networks, and energy infrastructure. Moreover, the increasing number of favorable governmental programs and policies, such as "Make in India" and "Belt and Road Initiative" are supporting local production and global partnerships, further driving the demand for construction equipment. Additionally, the implementation of new regulations for the modernization and retrofitting of old building structures propelled by the ongoing investments will encourage the market expansion.

Market Growth Drivers and Restraint

The increasing adoption of advanced technologies, such as telematics and automation for enhancing equipment efficiency and project management will augment the market outlook. Similarly, the rising concerns related to regulatory complexities may limit the market growth. Varied regulations and compliance standards across different countries in the region can lead to challenges in equipment deployment, affecting project timelines and investments. The meticulous navigation of legal frameworks driven by this inconsistency may also potentially slow down the product demand in APAC.
 

COVID-19 Impact

The COVID-19 pandemic had profound impact on the Asia Pacific construction equipment market during 2020-2021. Lockdowns and supply chain disruptions led to project delays and reduced demand for new equipment. Manufacturing slowdowns in various countries also made way for shortages of essential components and delayed equipment deliveries. However, with several economies gradually resuming construction activities and higher focus on infrastructure development, the industry will witness commendable growth in the post-pandemic scenario.
 

Asia Pacific Construction Equipment Market Trends

The escalating infrastructure transformation plans, especially in Indonesia and Thailand will contribute to robust market growth. Both nations are investing heavily in projects encompassing transportation networks, energy facilities, and urban development. Additionally, the rise in government programs encouraging the use of cutting-edge and world-class machinery in construction and engineering will boost industry expansion.
 

Asia Pacific Construction Equipment Market Analysis

Asia Pacific construction equipment market from the aftermarket segment is set to register around 8% CAGR through 2032, due to the thriving technical improvements by major manufacturers. The robust urbanization and infrastructure development in the region has spurred the higher demand for maintenance, repair, and replacement services for construction equipment. With construction projects becoming increasingly complex and equipment downtime directly impacting project timelines, the deployment of well-maintained equipment is rising across construction, mining, and transportation. In addition, the paradigm shift towards digitization and telematics solutions is also projected to transform the market.
 

Asia Pacific construction equipment market from earthmoving & road building equipment is estimated to gain significant traction between 2023 and 2032. The rising sustainability concerns are driving the adoption of environmentally friendly equipment with lower emissions and improved fuel efficiency. Furthermore, the growing efforts by industry players on integrating automation, GPS systems, and telematics to enhance the precision and efficiency of these machines will contribute to the segment growth.
 

The direct sales to customers segment accounted for substantial revenue share of the Asia Pacific construction equipment market in 2022 and is poised to observe robust CAGR from 2023 to 2032. The growth can be attributed to the rising instances of manufacturers selling equipment directly to end-users as they help to streamline communication, reduce costs, and offer personalized solutions. Moreover, the growing focus on establishing direct connections with customers has led improved understanding of the needs. The rising prioritization of efficiency and direct engagement will also fuel the segment growth.
 

India held sizeable share of the Asia Pacific construction equipment market in 2022 and is expected to expand at over 9% CAGR from 2023 to 2032, attributed to the rising investments for the development of public infrastructures. The surging need for addressing the environmental concerns in India has compelled construction equipment manufacturers to introduce eco-friendly solutions, such as electric machinery and hybrid systems, further contributing to the regional market revenue.
 

Asia Pacific Construction Equipment Market Share

Some of the top firms operating in the Asia Pacific construction equipment business are:

• Doosan Group
• Caterpillar
• J.C. Bamford Excavators Limited
• John Deere
• Kobelco Construction Machinery
• Hitachi Construction Machinery
• Liebherr
• Komatsu Ltd
• Sany Group
• Tadano Ltd
• Terex Corporation.

These companies are expanding their reach through sales and distribution methods while introducing new and advanced equipment across Asian nations to scale their revenue sales.
 

Asia Pacific Construction Equipment Industry News

• In March 2023, Tata Hitachi unveiled the brand-new Mining Excavator ZX670H at its Kharagpur facility to satisfy client demands for great durability, unparalleled efficiency, simple maintenance, affordable operation, and optimum safety and comfort.
   

This market research report on Asia Pacific construction equipment includes in-depth coverage of the industry trends, with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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• By Demand
  • New Demand
  • Aftermarket
     
• By Product
  • Earthmoving & Road Building Equipment
    • Backhoe
    • Excavator
    • Loader
    • Compaction Equipment
  • Material Handling & Cranes
    • Storage & Handling Equipment
    • Engineered Systems
    • Industrial Trucks
    • Bulk Material Handling Equipment
  • Concrete Equipment
    • Concrete Pump
    • Crusher
    • Transit Mixer
    • Asphalt Paver
    • Batching Plant
• By Sales Channel
  • Independent Dealers/Distributors
  • Direct Sales To Customers
  • Rental Companies
  • Online Channel
• By Sales Channel

By Region

• China
• Hong Kong
• Oceania
• Oceania
  • Australia
  • New Zealand
• Rest of Asia
  • India
  • South Korea
  • Japan
• ASEAN
  • Indonesia
  • Malaysia
  • Thailand
  • Taiwan
  • Singapore
  • Philippines
  • Vietnam
  • Myanmar