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Construction Equipment Market Share

Report ID: GMI2803
Published Date: Apr 2024
Report Format: PDF

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Construction Equipment Market Share

Komatsu, Ltd., XCMG, and Caterpillar, Inc. held significant market share of over 28% market share in 2023. These leading companies drive demand through strategic efforts tailored to this sector. They continuously innovate and introduce advanced machinery equipped with cutting-edge technology to enhance productivity, safety, and efficiency on construction sites. These companies invest in research and development, focusing on improving equipment performance, durability, and sustainability.

Moreover, they offer comprehensive solutions, including aftermarket services, financing options, and training programs, to meet evolving customer needs. By understanding market trends, collaborating with stakeholders, and providing value-added services, leading companies play a pivotal role in shaping and sustaining demand in global market.

Construction Equipment Market Companies

Major players operating in the construction equipment industry are:

Caterpillar, Inc.
CNH Industrial
Deere & Co.
Doosan Group
Hitachi Construction Machinery
Komatsu, Ltd.
Liebherr Group
Sany Group
Terex Corporation
Volvo CE
XCMG

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of construction equipment was recorded USD 171.1 billion in 2023 and will grow at a 6% CAGR between 2024 and 2032 owing to rapid urbanization and population growth, increasing investments in construction projects and the need for equipment replacement and fleet modernization.

The earthmoving & roadbuilding equipment segment in the construction equipment market secured USD 90 billion in 2023, attributed to their crucial role in infrastructure projects and technological advancements, such as GPS and telematics.

Asia Pacific construction equipment industry captured 45% share in 2023, driven by robust infrastructure development and urbanization projects and government initiatives for infrastructure modernization and expansion.

Prominent leaders operating in the construction equipment industry are Caterpillar, Inc., CNH Industrial, Deere & Co., Doosan Group, Hitachi Construction Machinery, Komatsu, Ltd., Liebherr Group, Sany Group among others.