North America Heavy Construction Equipment Market Trends, Size, Segment and Growth by Forecast

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North America Heavy Construction Equipment Market Trends, Size, Segment and
Growth by Forecast to 2030

Executive Summary and North America Heavy Construction Equipment Market Analysis

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The global heavy construction equipment market is projected
to grow from US$ 62.50 billion in 2024 to US$ 89.30 billion by 2031,
registering a CAGR of 5.30% between 2025 and 2031.

In North America, market growth is fueled by robust
infrastructure development, steady economic expansion, rapid urbanization, and
ongoing technological advancements. The US, Canada, and Mexico are key
contributors, driving strong demand for heavy machinery such as excavators,
cranes, bulldozers, backhoe loaders, and graders across large-scale
construction and industrial projects.

North America Heavy Construction Equipment Market:
Segmentation Analysis

The analysis of the North America heavy construction equipment market is based on key segments such
as machinery type, propulsion type, power output, and end-use industry.

By machinery type, the market is categorized into
earthmoving equipment, material handling equipment, heavy construction
vehicles, and others. Among these, the earthmoving equipment segment
accounted for the largest market share in 2024.

Based on propulsion type, the market is divided into
internal combustion engine (ICE) and electric. In 2024, the ICE segment
dominated the market share.

In terms of power output, the market is segmented
into less than 100 HP, 101-200 HP, 201-400 HP, and above 401 HP. The 201-400
HP segment emerged as the leading category in 2024.

By end-use industry, the market is classified into
building and construction, forestry and agriculture, energy and power, mining,
and others. The building and construction segment held the largest share
in 2024

North America Heavy Construction Equipment Market Outlook

The North America heavy construction equipment market is
poised for strong growth, driven by rising government investments in
infrastructure development. In the US, the passage of the Infrastructure
Investment and Jobs Act (IIJA) in 2021 has significantly bolstered the
construction sector, fueling robust demand for heavy construction machinery.
This landmark legislation allocates substantial funding to modernize and repair
the nation's roads, bridges, highways, and transit systems. Additionally,
expanding infrastructure needs in public transport, water systems, and
renewable energy grids are further amplifying demand for heavy equipment.

In Canada, government-backed investments in urban
infrastructure, road networks, and energy projects are sustaining equipment
demand. The Canadian government’s ongoing commitment to enhancing public
infrastructure—including public transit and renewable energy—continues to
create steady opportunities for heavy construction equipment providers.

Meanwhile, in Mexico, major government initiatives such as
the Mayan Train and the Trans-Isthmus Corridor are accelerating the need for
construction machinery, particularly in transportation and energy sectors.
These large-scale projects are propelling demand across multiple construction
equipment categories.

North America Heavy Construction Equipment Market:
Country Insights

Geographically, the market covers the US, Canada, and
Mexico, with the US leading in market share as of 2023.

In October 2024, the US Department of Transportation's
Federal Highway Administration announced a landmark US$62 billion investment
for 2025 infrastructure projects. Funded through the Biden-Harris
Administration's Bipartisan Infrastructure Law, this allocation will support
bridge construction, road development, and tunnel projects across all 50
states. This significant spending is set to further boost the demand for heavy
construction equipment used in public works.

Beyond government spending, rapid urbanization and
population growth are also fueling market expansion. The growing need for
housing, commercial spaces, and urban development—especially in densely
populated urban areas—continues to drive infrastructure projects and heavy
equipment demand.

Technological innovations are opening new growth avenues as
well. For example, in January 2025, Caterpillar Inc. introduced its next
generation of Cat Telehandlers, including the TH0842, TH0642, TH1055, and
TH1255 models, which replace older lines and offer enhanced performance for
rental and retail customers. Rising adoption of automation, telematics, and
digital technologies in construction equipment is transforming the market.
Moreover, the shift toward electric and hybrid machinery is gaining traction, as
sustainability becomes a top priority in the construction industry.

Market leaders and key company profiles

 JC BAMFORD EXCAVATORS LTD

 AB VOLVO

 CATERPILLAR INC

 HITACHI LTD

 HYUNDAI
CONSTRUCTION EQUIPMENT CO LTD

 DOOSAN CORP

 CNH INDUSTRIAL NV

 DEERE & CO

 KOMATSU LTD

 LIEBHERR

North America Heavy Construction Equipment Market Company Profiles

Some of the key players operating in the market includes
Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Liebherr Group,
and Hitachi Construction Machinery among others. These players are adopting
various strategies such as expansion, product innovation, and mergers and
acquisition to provide innovative products to their consumers and increase
their market share.

North America Heavy Construction Equipment Market
Research Methodology :

The following methodology has been followed for the
collection and analysis of data presented in this report:

Secondary
Research

The research process begins with comprehensive secondary
research, utilizing both internal and external sources to gather qualitative
and quantitative data for each market. Commonly referenced secondary research
sources include, but are not limited to: