Construction and Mining Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for construction and mining equipment. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure.

Key Insights:

Construction and Mining Equipment Market Size (2024E): USD 180 Billion
Projected Market Value (2031F): USD 233.6 Billion
Global Market Growth Rate (CAGR 20234 to 2031): 3.80%

Construction and Mining Equipment Market - Report Scope:

Construction and mining equipment play a pivotal role in various industries, including infrastructure development, mining operations, and construction activities. These equipment types encompass a wide range of machinery and vehicles designed to enhance efficiency, safety, and productivity in demanding operational environments. The market caters to diverse sectors such as construction firms, mining companies, infrastructure developers, and rental services, offering a variety of equipment categories like excavators, loaders, dozers, dump trucks, and cranes.

Market Growth Drivers:

The global construction and mining equipment market is propelled by several key factors, including robust infrastructure development projects worldwide, particularly in emerging economies. Increasing urbanization, coupled with government initiatives to upgrade public infrastructure, fuels demand for advanced equipment solutions. Technological advancements, such as automation, telematics, and electrification, are transforming equipment capabilities, enhancing operational efficiency, and reducing environmental impact. Moreover, rising mining activities to meet global demand for minerals and metals drive market expansion, supported by advancements in mining equipment technologies.

Market Restraints:

Despite promising growth prospects, the construction and mining equipment market faces challenges related to fluctuating raw material prices, stringent regulatory frameworks, and operational complexities in remote and hazardous work environments. Economic uncertainties and geopolitical tensions also impact market dynamics, influencing investment decisions and project timelines. Additionally, the high initial cost of advanced equipment and maintenance expenses pose financial barriers, particularly for small and medium enterprises (SMEs) in developing regions.

Market Opportunities:

The construction and mining equipment market presents significant growth opportunities driven by technological innovations, sustainability initiatives, and the adoption of digitalization. Integration of artificial intelligence (AI) and Internet of Things (IoT) technologies enables predictive maintenance, real-time fleet monitoring, and operational optimization, thereby enhancing equipment performance and reducing downtime. Expansion of rental and leasing services for equipment provides flexibility to end-users and supports cost-effective operational models. Strategic collaborations, such as joint ventures and partnerships, facilitate market entry and expand product portfolios, catering to evolving customer needs and regulatory requirements.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the construction and mining equipment market globally?
Which equipment categories and applications are driving adoption across different industrial sectors?
How are technological advancements reshaping the competitive landscape of the construction and mining equipment market?
Who are the key players contributing to the market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global construction and mining equipment market?

Competitive Intelligence and Business Strategy:

Leading players in the global construction and mining equipment market, including Caterpillar Inc., Komatsu Ltd., and Volvo Construction Equipment, focus on innovation, product diversification, and geographic expansion to gain a competitive edge. These companies invest in research and development to introduce advanced equipment models with enhanced efficiency, safety features, and environmental sustainability. Strategic acquisitions, investments in digital platforms, and customer-centric solutions strengthen market presence and foster long-term partnerships with key stakeholders. Moreover, emphasis on aftermarket services, training programs, and regulatory compliance ensures operational excellence and customer satisfaction in the evolving construction and mining landscape.

Key Companies Profiled:

Caterpillar Inc.
Komatsu Ltd.
Hitachi Construction Machinery Co., Ltd.
Volvo Construction Equipment
Liebherr Group
Sandvik AB
Terex Corporation
SANY Group
Doosan Infracore Co., Ltd.
XCMG Group

Construction and Mining Equipment Market Research Segmentation

By Product Type:

Loaders
Dozers
Excavators
Crushers
Drills
Misc

By Application:

Infrastructure
Mineral Mining
Residential Building
Metal Mining
Misc

By Power Source:

Diesel-powered
Electric-powered
Hybrid

By Region:

North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP33615

1. Executive Summary

1.1. Global Construction and Mining Equipment Market Snapshot, 2024-2031
1.2. Market Opportunity Assessment, 2024-2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Product Type Lifecycle Analysis
2.4. Construction and Mining Equipment Market: Value Chain
- 2.4.1. List of Raw Material Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Applications
- 2.4.5. Profitability Analysis
2.5. Porter Five Force's Analysis
2.6. Geopolitical Tensions: Market Impact
2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
2.8. Forecast Factors - Relevance and Impact
2.9. Regulatory and Technology Landscape

3. Global Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
3.2. Market Size (US$ Bn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2019-2023
- 3.2.2. Current Market Size Forecast, 2024-2031
3.3. Global Construction and Mining Equipment Market Outlook: Product Type
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Product Type, 2019-2023
- 3.3.3. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
  - 3.3.3.1. Loaders
  - 3.3.3.2. Dozers
  - 3.3.3.3. Excavators
  - 3.3.3.4. Crushers
  - 3.3.3.5. Drills
  - 3.3.3.6. Misc
3.4. Market Attractiveness Analysis: Product Type
3.5. Global Construction and Mining Equipment Market Outlook: Application
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Application, 2019-2023
- 3.5.3. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
  - 3.5.3.1. Infrastructure
  - 3.5.3.2. Mineral Mining
  - 3.5.3.3. Residential Building
  - 3.5.3.4. Metal Mining
  - 3.5.3.5. Misc
3.6. Market Attractiveness Analysis: Application
3.7. Global Construction and Mining Equipment Market Outlook: Power Source
- 3.7.1. Introduction / Key Findings
- 3.7.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Power Source, 2019-2023
- 3.7.3. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
  - 3.7.3.1. Diesel-powered
  - 3.7.3.2. Electric-powered
  - 3.7.3.3. Hybrid
3.8. Market Attractiveness Analysis: Power Source

4. Global Construction and Mining Equipment Market Outlook: Region

4.1. Key Highlights
4.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Region, 2019-2023
4.3. Current Market Size (US$ Bn) and Volume (Units) Forecast By Region, 2024-2031
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
4.4. Market Attractiveness Analysis: Region

5. North America Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

5.1. Key Highlights
5.2. Pricing Analysis
5.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 5.3.1. By Country
- 5.3.2. By Product Type
- 5.3.3. By Application
- 5.3.4. By Application
5.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 5.4.1. U.S.
- 5.4.2. Canada
5.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 5.5.1. Loaders
- 5.5.2. Dozers
- 5.5.3. Excavators
- 5.5.4. Crushers
- 5.5.5. Drills
- 5.5.6. Misc
5.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 5.6.1. Infrastructure
- 5.6.2. Mineral Mining
- 5.6.3. Residential Building
- 5.6.4. Metal Mining
- 5.6.5. Misc
5.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 5.7.1. Diesel-powered
- 5.7.2. Electric-powered
- 5.7.3. Hybrid

6. Europe Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 6.3.1. By Country
- 6.3.2. By Product Type
- 6.3.3. By Application
- 6.3.4. By Application
6.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. Turkey
- 6.4.8. Rest of Europe
6.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 6.5.1. Loaders
- 6.5.2. Dozers
- 6.5.3. Excavators
- 6.5.4. Crushers
- 6.5.5. Drills
- 6.5.6. Misc
6.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 6.6.1. Infrastructure
- 6.6.2. Mineral Mining
- 6.6.3. Residential Building
- 6.6.4. Metal Mining
- 6.6.5. Misc
6.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 6.7.1. Diesel-powered
- 6.7.2. Electric-powered
- 6.7.3. Hybrid

7. East Asia Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Application
- 7.3.4. By Application
7.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
7.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 7.5.1. Loaders
- 7.5.2. Dozers
- 7.5.3. Excavators
- 7.5.4. Crushers
- 7.5.5. Drills
- 7.5.6. Misc
7.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 7.6.1. Infrastructure
- 7.6.2. Mineral Mining
- 7.6.3. Residential Building
- 7.6.4. Metal Mining
- 7.6.5. Misc
7.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 7.7.1. Diesel-powered
- 7.7.2. Electric-powered
- 7.7.3. Hybrid

8. South Asia & Oceania Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
- 8.3.4. By Application
8.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
8.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 8.5.1. Loaders
- 8.5.2. Dozers
- 8.5.3. Excavators
- 8.5.4. Crushers
- 8.5.5. Drills
- 8.5.6. Misc
8.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 8.6.1. Infrastructure
- 8.6.2. Mineral Mining
- 8.6.3. Residential Building
- 8.6.4. Metal Mining
- 8.6.5. Misc
8.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 8.7.1. Diesel-powered
- 8.7.2. Electric-powered
- 8.7.3. Hybrid

9. Latin America Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
- 9.3.4. By Application
9.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
9.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 9.5.1. Loaders
- 9.5.2. Dozers
- 9.5.3. Excavators
- 9.5.4. Crushers
- 9.5.5. Drills
- 9.5.6. Misc
9.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 9.6.1. Infrastructure
- 9.6.2. Mineral Mining
- 9.6.3. Residential Building
- 9.6.4. Metal Mining
- 9.6.5. Misc
9.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 9.7.1. Diesel-powered
- 9.7.2. Electric-powered
- 9.7.3. Hybrid

10. Middle East & Africa Construction and Mining Equipment Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn) and Volume (Units) Analysis By Market, 2019-2023
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Application
- 10.3.4. By Application
10.4. Current Market Size (US$ Bn) and Volume (Units) Forecast By Country, 2024-2031
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
10.5. Current Market Size (US$ Bn) and Volume (Units) Forecast By Product Type, 2024-2031
- 10.5.1. Loaders
- 10.5.2. Dozers
- 10.5.3. Excavators
- 10.5.4. Crushers
- 10.5.5. Drills
- 10.5.6. Misc
10.6. Current Market Size (US$ Bn) and Volume (Units) Forecast By Application, 2024-2031
- 10.6.1. Infrastructure
- 10.6.2. Mineral Mining
- 10.6.3. Residential Building
- 10.6.4. Metal Mining
- 10.6.5. Misc
10.7. Current Market Size (US$ Bn) and Volume (Units) Forecast By Power Source, 2024-2031
- 10.7.1. Diesel-powered
- 10.7.2. Electric-powered
- 10.7.3. Hybrid

11. Competition Landscape

11.1. Market Share Analysis, 2024
11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Dozers
- 11.2.3. Apparent Product Capacity
11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. Caterpillar Inc.
  - 11.3.1.1. Overview
  - 11.3.1.2. Segments and Product
  - 11.3.1.3. Key Financials
  - 11.3.1.4. Market Developments
  - 11.3.1.5. Market Strategy
- 11.3.2. Komatsu Ltd.
  - 11.3.2.1. Overview
  - 11.3.2.2. Segments and Product
  - 11.3.2.3. Key Financials
  - 11.3.2.4. Market Developments
  - 11.3.2.5. Market Strategy
- 11.3.3. Hitachi Construction Machinery Co., Ltd.
  - 11.3.3.1. Overview
  - 11.3.3.2. Segments and Product
  - 11.3.3.3. Key Financials
  - 11.3.3.4. Market Developments
  - 11.3.3.5. Market Strategy
- 11.3.4. Volvo Construction Equipment
  - 11.3.4.1. Overview
  - 11.3.4.2. Segments and Product
  - 11.3.4.3. Key Financials
  - 11.3.4.4. Market Developments
  - 11.3.4.5. Market Strategy
- 11.3.5. Liebherr Group
  - 11.3.5.1. Overview
  - 11.3.5.2. Segments and Product
  - 11.3.5.3. Key Financials
  - 11.3.5.4. Market Developments
  - 11.3.5.5. Market Strategy
- 11.3.6. Sandvik AB
  - 11.3.6.1. Overview
  - 11.3.6.2. Segments and Product
  - 11.3.6.3. Key Financials
  - 11.3.6.4. Market Developments
  - 11.3.6.5. Market Strategy
- 11.3.7. Terex Corporation
  - 11.3.7.1. Overview
  - 11.3.7.2. Segments and Product
  - 11.3.7.3. Key Financials
  - 11.3.7.4. Market Developments
  - 11.3.7.5. Market Strategy
- 11.3.8. SANY Group
  - 11.3.8.1. Overview
  - 11.3.8.2. Segments and Product
  - 11.3.8.3. Key Financials
  - 11.3.8.4. Market Developments
  - 11.3.8.5. Market Strategy
- 11.3.9. Doosan Infracore Co., Ltd.
  - 11.3.9.1. Overview
  - 11.3.9.2. Segments and Product
  - 11.3.9.3. Key Financials
  - 11.3.9.4. Market Developments
  - 11.3.9.5. Market Strategy
- 11.3.10. XCMG Group
  - 11.3.10.1. Overview
  - 11.3.10.2. Segments and Product
  - 11.3.10.3. Key Financials
  - 11.3.10.4. Market Developments
  - 11.3.10.5. Market Strategy

12. Appendix

12.1. Research Methodology
12.2. Research Assumptions
12.3. Acronyms and Abbreviations