PUBLISHER: The Business Research Company | PRODUCT CODE: 1680388
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680388
Agriculture, Construction, and Mining Machinery encompasses specialized equipment used across various industries for activities like planting, harvesting, building, and resource extraction. This machinery boosts productivity, enhances efficiency, and ensures safety in operations. It serves as a vital component in supporting the agriculture, construction, and mining sectors, contributing to economic growth and development.
The primary types of agriculture, construction, and mining machinery include construction machinery, agricultural implements, and mining and oil and gas field machinery. The construction machinery market pertains to equipment related to construction, involving various operations such as autonomous, semi-autonomous, and manual. Additionally, these machines come in various capacities, ranging from small to medium and large.
The agriculture, construction, and mining machinery market research report is one of a series of new reports from The Business Research Company that provides agriculture, construction, and mining machinery market statistics, including agriculture, construction, and mining machinery industry global market size, regional shares, competitors with agriculture, construction, and mining machinery market share, detailed agriculture, construction, and mining machinery market segments, market trends and opportunities, and any further data you may need to thrive in the agriculture, construction, and mining machinery industry. This agriculture, construction, and mining machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The agriculture, construction, and mining machinery market size has grown strongly in recent years. It will grow from $778.53 billion in 2024 to $841.46 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to global population growth, rise in mechanized agriculture, urbanization, mining exploration and extraction, environmental regulations, globalization and trade.
The agriculture, construction, and mining machinery market size is expected to see strong growth in the next few years. It will grow to $1106.29 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to advancements in autonomous machinery, infrastructure development projects, circular economy practices, energy-efficient construction practices, focus on safety standards. Major trends in the forecast period include emission control technologies, human-machine collaboration, customization for specific industries, electric and hybrid solutions, mining automation and robotics.
The agriculture, construction, and mining machinery manufacturing market is anticipated to experience growth, supported by the projected stable economic growth in both developed and developing nations. Notably, China's gross domestic product (GDP) showed an increase from $17.75 trillion in 2021 to $18.1 trillion in 2022, according to the International Monetary Fund (IMF). The emerging markets and developing economies are forecasted to grow, contributing to increased investments in end-user markets and fostering market expansion. Additionally, the recovery of commodity prices post a historic decline is expected to further boost market growth.
Expansion in the construction industry is anticipated to drive the growth of the agriculture, construction, and mining machinery market in the coming years. The construction industry encompasses the sector of manufacturing and trade focused on building, repairing, renovating, and maintaining infrastructure. Growth in this industry has a ripple effect on the agriculture, construction, and mining machinery market, leading to increased demand for heavy machinery and equipment, spurring technological advancements, fostering tailored solutions for specific applications, encouraging replacement and modernization, supporting global infrastructure projects, and indirectly benefiting related sectors like mining and quarrying. For example, in August 2024, Eurostat, a Luxembourg-based government agency, reported a 1.0% increase in construction production in the euro area from June 2023 to June 2024. Consequently, growth in the construction industry has supported the expansion of the agriculture, construction, and mining machinery market.
Agriculture equipment companies are now providing telematics systems to farmers, enabling wireless data transfer between equipment and users. Telematics involves collecting data from field-operating farm equipment and transmitting it to customers in real-time over the Internet. This technology allows farmers to remotely gather and manage information from their equipment, boosting operational efficiency and cutting production costs. For example, in April 2023, Bobcat, a US-based farm and construction equipment manufacturer, introduced the Machine IQ telematics system, allowing customers to access machine information anytime from any device. This system enables users to monitor machine health and track data remotely, enhancing maintenance, security, and performance from smart devices or laptops.
Leading companies in the agriculture, construction, and mining machinery market are focusing on developing innovative products, such as electric and hybrid machinery, to maintain their market position. Electric and hybrid machinery in these industries operate using electric or hybrid power sources instead of conventional internal combustion engines. For instance, in July 2023, Sany UK, a UK-based construction equipment supplier, launched the SY19E, a new electric mini excavator. Designed for urban construction, landscaping, and indoor projects, this compact, versatile machine runs on an electric motor, producing zero emissions, making it an eco-friendly alternative to traditional diesel-powered excavators. It features a lithium iron phosphate (cobalt-free) battery for faster, safer, and more efficient charging. Additionally, in November 2022, Caterpillar, a US-based manufacturer of construction, mining, and engineering equipment, introduced a hybrid wheel loader powered by both a diesel engine and an electric motor, reducing fuel consumption and emissions.
Major companies operating in the agriculture, construction, and mining machinery market include Caterpillar Inc., Deere & Company, Zoomlion Heavy Industry Science and Technology Co. Ltd., Volvo AB, Komatsu Ltd., Case New Holland, CNH Industrial NV, Kubota Corp., Mahindra & Mahindra Limited, Liebherr Group, Atlas Copco AB, AGCO Corporation, Massey Ferguson Limited, Alamo Group Incorporated, Sany Group, Astec Industries Inc., Berco S.p.A., Poclain S.A., Bennington Company, Bomag GmbH, Seppi, SampoRlei SpA
The Asia-Pacific was the largest region in the agriculture, construction, and mining machinery market in 2024. Western Europe was the second largest region in the agriculture, construction, and mining machinery market. The regions covered in the agriculture, construction, and mining machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the agriculture, construction, and mining machinery market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The agriculture, construction, and mining machinery market consist of sales of machinery including farm machinery and equipment, power mowing equipment, and other powered home lawn and garden equipment, construction machinery, surface mining machinery, logging equipment, and oil and gas field and underground mining machinery and equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Agriculture, Construction, And Mining Machinery Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on agriculture, construction, and mining machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for agriculture, construction, and mining machinery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The agriculture, construction, and mining machinery market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.