Heavy Construction Equipment Market by Type, Application, End-Use

Description

List of Tables

[192 Pages Report] The Heavy Construction Equipment Market size was estimated at USD 200.20 billion in 2023 and expected to reach USD 213.71 billion in 2024, at a CAGR 7.18% to reach USD 325.46 billion by 2030.

Heavy construction equipment refers to heavy-duty vehicles and earthmoving equipment specifically designed to execute construction tasks, most frequently involving material handling, heavy lifting, and transportation. These machines are extensively utilized in constructing roads, bridges, tunnels, airports, residential and commercial buildings, extracting natural resources, and land clearing and soil preparation for agricultural purposes. Increasing building and construction activities and renovation and remolding activities worldwide significantly boost the demand for heavy construction equipment. Additionally, increased government initiatives in public infrastructure development positively impact demand for heavy construction equipment. However, the significant cost of manufacturing and maintenance of heavy construction equipment significantly hinders the production of heavy construction equipment. Companies are working towards cutting production-related costs and focusing on innovations to develop energy-efficient machines with environmentally friendly features to meet customers' needs without sacrificing performance excellence. Moreover, technological advancements and continuous investments in public infrastructure projects drive the future demand for heavy construction equipment.

KEY MARKET STATISTICS
Base Year [2023]	USD 200.20 billion
Estimated Year [2024]	USD 213.71 billion
Forecast Year [2030]	USD 325.46 billion
CAGR (%)	7.18%

Regional Insights

In the EMEA, Europe has been a major region, with countries including Germany having many major players and leading innovations in robotics and automotive, which subsequently helps in heavy construction equipment manufacturing. The Middle East and Africa region has shown a steady increase in investments toward infrastructure development projects, which create opportunities for construction and manufacturing solutions. On the other hand, Americas has been serving a heavy construction equipment market with leading automation, various innovative technologies, and Industry 4.0. Through these innovations in heavy construction equipment, American countries provide contractors with new capabilities while helping to enhance safety and productivity. The APAC region is witnessing rapid growth in the heavy construction equipment market due to increasing manufacturing activities and the need for enhanced productivity. Regional and international companies operating within this region opt for automation solutions such as heavy-duty vehicles and material handling equipment to rapidly meet consumer demands. Furthermore, government initiatives in Asian countries like Made in India and Made in China have encouraged domestic manufacturers to embrace novel technologies to enhance production efficiency.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Heavy Construction Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increase in building and construction activity worldwide
- Ongoing renovation and remolding activities
- Government initiatives to increase infrastructure development

Market Restraints
- High cost of production and maintenance of heavy construction equipment

Market Opportunities
- Technological advancements in heavy construction equipment
- Significant investments in public infrastructure projects

Market Challenges
- Technical and operational issues in heavy construction equipment

Market Segmentation Analysis
- Type: Increasing adoption of heavy material handling equipment in construction & manufacturing industry
- Application: Expanding applications of heavy construction equipment in manufacturing, construction, and transportation
- End Use: Rapid deployment of heavy construction equipments across for public infrastructure development

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Heavy Construction Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Heavy Construction Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

McCann Industries Acquires Channahon Tractor, LLC

McCann Industries, Inc. has recently acquired the assets of Channahon Tractor LLC, a well-established company with over 40 years of experience in the heavy construction equipment industry. As part of this acquisition, McCann Industries will now offer a wide range of high-quality equipment for sale and rent, including trusted brands like Kobelco and Takeuchi. This strategic move further strengthens McCann Industries' position as a leading provider in the industry, ensuring customers have access to top-notch equipment and reliable project support. [Published On: 2023-08-02]

Sany Launches "The Ox" - its New Biggest Excavator, the SY750H

Sany launched its latest excavator, the SY750H, at ConExpo in March. This 86.5-ton excavator, affectionately known as "The Ox" is Sany's largest offering for the U.S. market. The SY750 boasts similar controls and cab features as other Sany machines, ensuring seamless transitions for operators. With a 6.5 cubic yard bucket and retractable undercarriage, this model excels in heavy construction and light mining sectors. The SY750H expands Sany's excavation capabilities, delivering superior performance and productivity. [Published On: 2023-05-03]

Hitachi, General Equipment Partner to Provide Solutions

General Equipment and Supplies Inc. and Hitachi Construction Machinery Americas Inc. have joined strategic partnerships to promote Hitachi heavy construction equipment in Minnesota, South Dakota, and Northern Michigan. This partnership enables General Equipment & Supplies Inc. to serve as the exclusive dealer for Hitachi's full range of wheel loaders and excavators across most of Minnesota. [Published On: 2023-02-01]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Heavy Construction Equipment Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Heavy Construction Equipment Market, highlighting leading vendors and their innovative profiles. These include Astec Industries, Inc., Bell Equipment Company SA (Pty) Ltd., Caterpillar Inc., CNH Industrial N.V., Deutz AG, Doosan Bobcat Inc., Hidromek Co. Ltd., Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., J.C. Bamford Excavators Limited, JLG Industries, Inc., John Deere GmbH & Co. KG, Kawasaki Heavy Industries, Ltd., Kobelco Construction Machinery Co., Ltd., Komatsu America Corp., Liebherr Group, Manitowoc Company, Inc., SANY Group, Tadano Ltd., Terex Corporation, Volvo Group, Wacker Neuson SE, XCMG Group, and Zoomlion Heavy Industry Science & Technology Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Heavy Construction Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Compactors
- Earthmoving Equipment
- Heavy construction Vehicles
- Material Handling Equipment
- Road Rollers

Application
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste Management
- Transportation
- Tunneling

End-Use
- Construction & Manufacturing
- Oil & Gas
- Public Infrastructure
- Rail Road

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-69324464D3FD

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increase in building and construction activity worldwide
  - 5.1.1.2. Ongoing renovation and remolding activities
  - 5.1.1.3. Government initiatives to increase infrastructure development
- 5.1.2. Restraints
  - 5.1.2.1. High cost of production and maintenance of heavy construction equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in heavy construction equipment
  - 5.1.3.2. Significant investments in public infrastructure projects
- 5.1.4. Challenges
  - 5.1.4.1. Technical and operational issues in heavy construction equipment
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing adoption of heavy material handling equipment in construction & manufacturing industry
- 5.2.2. Application: Expanding applications of heavy construction equipment in manufacturing, construction, and transportation
- 5.2.3. End Use: Rapid deployment of heavy construction equipments across for public infrastructure development
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Heavy Construction Equipment Market, by Type

6.1. Introduction
6.2. Compactors
6.3. Earthmoving Equipment
6.4. Heavy construction Vehicles
6.5. Material Handling Equipment
6.6. Road Rollers

7. Heavy Construction Equipment Market, by Application

7.1. Introduction
7.2. Excavation & Demolition
7.3. Heavy Lifting
7.4. Material Handling
7.5. Recycling & Waste Management
7.6. Transportation
7.7. Tunneling

8. Heavy Construction Equipment Market, by End-Use

8.1. Introduction
8.2. Construction & Manufacturing
8.3. Oil & Gas
8.4. Public Infrastructure
8.5. Rail Road

9. Americas Heavy Construction Equipment Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Heavy Construction Equipment Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Heavy Construction Equipment Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. McCann Industries Acquires Channahon Tractor, LLC
- 12.3.2. Sany Launches "The Ox" - its New Biggest Excavator, the SY750H
- 12.3.3. Hitachi, General Equipment Partner to Provide Solutions
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio