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Construction Equipment Engines Market Size

Report ID: GMI7601
Published Date: Dec 2023
Report Format: PDF

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Construction Equipment Engines Market Size

Construction Equipment Engines Market was valued at USD 25.5 billion in 2023 and is set to record more than 5% CAGR from 2024 and 2032. Environmental regulations and emission standards imposed by government and regulatory bodies have a significant impact on the market growth dynamics. Manufacturers need to comply with emission standards, such as those set by agencies like the Environmental Protection Agency (EPA) in the United States or the European Union's Stage V regulations. Compliance with these standards requires the development of engines with advanced emission control technologies, influencing the market landscape.

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Economic instability, especially in the wake of events like financial crises or global recessions, can lead to reduced investments in construction projects. Businesses may delay or scale back construction activities, impacting the demand for new construction equipment engines, thus limiting market growth.

Construction Equipment Engines Market Report Attributes
Report Attribute	Details
Base Year:	2022
Construction Equipment Engines Market Size in 2022:	USD 25.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 38.6 Billion
Historical Data for:	2018 - 2023
No. of Pages:	250
Tables, Charts & Figures:	221
Segments covered:	Type, Application
Growth Drivers:	Increasing demand for construction equipment The growth in residential, commercial, and industrial construction projects Advancements in engine technology Government-led initiatives and investments in construction and infrastructure projects
Pitfalls & Challenges:	High initial investments

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of construction equipment engines was worth USD 25.5 billion in 2022 and is expected to register over 5% CAGR through 2032, due to the increasing stringent environmental regulations and emission standards imposed by government and regulatory bodies worldwide.

The diesel engines type segment held over 75% share of the construction equipment engines industry in 2023 and is expected to register appreciable CAGR from 2024 to 2032, owing to their robust power output, fuel efficiency, and durability.

Asia Pacific held over 40% share of the construction equipment engines market in 2023 and is expected to register commendable CAGR from 2024-2032, due to rapid urbanization and infrastructure development projects in the region.

Caterpillar, DEUTZ, MAN, Honda, John Deere, Kubota, Volvo Penta, Weichai, Yanmar, and Yuchai are some of the major construction equipment engines companies worldwide.