PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584635
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584635
United States Construction Equipment Market, By Product Type; By Propulsion Type; By Power Output; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
United States Construction Equipment Market Size to Surpass USD 57.2 Billion by 2030
United States Construction Equipment Market is flourishing due to the government-led infrastructure modernization, coupled with robust growth in residential, commercial, and industrial construction sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Construction Equipment Market size by value at USD 42.13 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Construction Equipment Market size to expand at a CAGR of 4.7% reaching a value of USD 57.22 billion by 2030. The Construction Equipment Market in United States is propelled by rapid urbanization and increased government focus on infrastructure upgrades. The demand for machinery, including excavators, loaders, and dump trucks, is linked to the growing number of global infrastructure projects. In the United States, investment in sectors such as roadways, ports, and rail networks, supported by government initiatives like the Bipartisan Infrastructure Law (BIL), is expected to fuel market growth. In January 2024, the United States government allocated over USD 4.9 billion for 37 projects under the National Infrastructure Project Assistance (MEGA) and Infrastructure for Rebuilding America (INFRA) programs. Additionally, technological innovations in construction equipment are opening new opportunities for OEMs to expand their product portfolios and attract a broader range of customers.
Opportunities - Increasing Investments in Renewable Energy Infrastructure
Xcel Energy is leading a USD 508 million renewable energy project in Minnesota, involving a 460-megawatt solar facility at the Sherco coal-fired plant site. The project is a key part of Xcel's clean energy vision, with phases set for completion by 2025. The initiative aligns with broader United States investments in renewable energy, driven by the Inflation Reduction Act, which has attracted USD 133 billion from the private sector. In 2023, United States plans to add 54.5 gigawatts of new electric capacity, half from solar, with significant investments in Texas and California. Alongside solar, the government is funding wastewater management systems and other sustainability projects. Innovations in construction equipment, such as Kobelco's G-4 series cranes and Caterpillar's zero-exhaust solutions, are enhancing the efficiency of these renewable energy projects.
Impact of Escalating Geopolitical Tensions on United States Construction Equipment Market
United States Construction Equipment Market may face significant challenges from intensifying geopolitical, economic, and trade tensions across the world. As uncertainty and instability increase, stakeholders are adopting a more cautious approach, leading to project delays, cancellations, and a decline in overall investment. Disrupted global supply chains, often fueled by international conflicts, are exacerbating the situation by causing shortages of critical components and driving up equipment costs. Moreover, the imposition of trade barriers and tariffs hinders the free flow of construction equipment, restricting access to vital technologies and imposing additional financial burdens on United States construction companies.
Earthmoving Equipment Segment Holds Largest Share of US Market
The earthmoving equipment segment accounts the largest share of United States Construction Equipment Market by product type. The demand for earthmoving machinery has surged, fueled by advancements in the construction industry globally. As residential, commercial, and industrial projects proliferate, the need for heavy-duty equipment to execute excavation and grading tasks efficiently has become paramount. Within the earthmoving equipment segment, excavators, backhoe loaders, wheeled loaders, and other machinery (including loaders, bulldozers, and trenchers) have played pivotal roles. Among these, excavators are expected to maintain their market leadership, driven by robust investments in housing, port development, and public infrastructure initiatives across the United States.
Competitive Landscape
United States Construction Equipment Market is fragmented, with numerous players serving the market. The key players dominating United States Construction Equipment Market include Caterpillar Inc, CNH Industrial America LLC, Deere & Company, Doosan Corporation, Hitachi Construction Machinery Americas Inc, HD Hyundai Construction Equipment North America, Kubota Corporation, Terex Corporation, Liebherr, and AB Volvo. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and United States Construction Equipment Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Construction Equipment Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United States Construction Equipment Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Government initiatives to modernize infrastructure
- 3.2.1.2. Growth in housing, commercial building projects, and renovations
- 3.2.1.3. Growth and expansion of industrial facilities
- 3.2.2. Restraints
- 3.2.2.1. Rising Material Costs
- 3.2.2.2. Stricter environmental regulations
- 3.2.2.3. Shortage of skilled workers in the construction industry
- 3.2.3. Opportunities
- 3.2.3.1. Increasing investments in renewable energy infrastructure
- 3.2.3.2. Innovations in equipment design, automation, and telematics
- 3.2.3.3. Growing demand for rental and leasing services
- 3.2.4. Challenges
- 3.2.4.1. Adherence to stringent safety, emissions, and other regulations
- 3.2.4.2. Evolving customer preferences and expectations
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United States Construction Equipment Market: Marketing Strategies
5. United States Construction Equipment Market: Pricing Analysis
6. United States Construction Equipment Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Earthmoving Equipment
- 6.2.1.1.1. Excavators
- 6.2.1.1.2. Backhoe Loaders
- 6.2.1.1.3. Wheeled Loaders
- 6.2.1.1.4. Others (Loaders, Bulldozers, Trenchers)
- 6.2.1.2. Material Handling Machinery
- 6.2.1.2.1. Crawler Cranes
- 6.2.1.2.2. Trailer Mounted Cranes
- 6.2.1.2.3. Truck Mounted Cranes
- 6.2.1.2.4. Forklifts
- 6.2.1.2.5. Others
- 6.2.1.3. Concrete and Road Construction Machinery
- 6.2.1.3.1. Concrete Mixers & Pavers
- 6.2.1.3.2. Construction Pumps
- 6.2.1.3.3. Others
- 6.2.2. By Propulsion Type
- 6.2.2.1. Diesel-Powered
- 6.2.2.2. Gasoline-Powered
- 6.2.2.3. Electric-Powered
- 6.2.2.4. Hybrid
- 6.2.3. By Power Output
- 6.2.3.1. <100 HP
- 6.2.3.2. 101-200 HP
- 6.2.3.3. 201-400 HP
- 6.2.3.4. >401 HP
- 6.2.4. By End User
- 6.2.4.1. Construction Companies
- 6.2.4.2. Mining Companies
- 6.2.4.3. Oil & Gas Industry
- 6.2.4.4. Municipalities
- 6.2.1. By Product Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. United States Construction Equipment Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on United States Construction Equipment Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 9.1. Caterpillar, Inc
- 9.2. CNH Industrial America LLC
- 9.3. Deere & Company
- 9.4. Doosan Corporation
- 9.5. Hitachi Construction Machinery Americas Inc.
- 9.6. HD Hyundai Construction Equipment North America
- 9.7. Kubota Corporation
- 9.8. Terex Corporation
- 9.9. Liebherr
- 9.10. AB Volvo
- 9.11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumption & Limitation
* Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 United States Construction Equipment Market Segmentation
- Figure 2 United States Construction Equipment Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United States Construction Equipment Market Size, By Value (USD Billion), 2019-2030
- Figure 5 United States Construction Equipment Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Figure 6 United States Construction Equipment Market Share, By Propulsion Type, By Value (USD Billion), 2019-2030
- Figure 7 United States Construction Equipment Market Share, By Power Output, By Value (USD Billion), 2019-2030
- Figure 8 United States Construction Equipment Market Share, By End User, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 United States Construction Equipment Market Size, By Value (USD Billion), 2019-2030
- Table 2 United States Construction Equipment Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Table 3 United States Construction Equipment Market Share, By Propulsion Type, By Value (USD Billion), 2019-2030
- Table 4 United States Construction Equipment Market Share, By Power Output, By Value (USD Billion), 2019-2030
- Table 5 United States Construction Equipment Market Share, By End User, By Value (USD Billion), 2019-2030
- Table 6 Caterpillar, Inc Company Overview
- Table 7 Caterpillar, Inc Financial Overview
- Table 8 CNH Industrial America LLC Company Overview
- Table 9 CNH Industrial America LLC Financial Overview
- Table 10 Deere & Company Overview
- Table 11 Deere & Company Financial Overview
- Table 12 Doosan Corporation Company Overview
- Table 13 Doosan Corporation Financial Overview
- Table 14 Hitachi Construction Machinery Americas Inc. Company Overview
- Table 15 Hitachi Construction Machinery Americas Inc. Financial Overview
- Table 16 HD Hyundai Construction Equipment North America Company Overview
- Table 17 HD Hyundai Construction Equipment North America Financial Overview
- Table 18 Kubota Corporation Company Overview
- Table 19 Kubota Corporation Financial Overview
- Table 20 Terex Corporation Company Overview
- Table 21 Terex Corporation Financial Overview
- Table 22 Liebherr Company Overview
- Table 23 Liebherr Financial Overview
- Table 24 AB Volvo Company Overview
- Table 25 AB Volvo Financial Overview
