Construction equipment
market Size | Growth Forecast, 2034

Construction
equipment market size is set to record 5.9% CAGR between 2025
and 2034, driven by the rising infrastructure development and urbanization. As
per UN. Org, the global population living in urban areas is predicted to rise
to 68% by 2050.

Several governments are
investing heavily in infrastructure, such as roads, bridges, airports, and
railways to boost economic growth and improve connectivity. This increase in
construction is demanding advanced machinery, further increasing the demand for
construction equipment. The integration of technological advancements like AI
and IoT into manufacturing devices is driving productivity and safety, making
them more attractive to manufacturing companies.

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The rise in private sector
investments and real estate development will also influence the market growth.
With the emergence of new industries, the need for retail, industrial and
construction work is increasing. This is further driving the demand for construction
equipment ranging from excavators and forklifts to cranes and bulldozers. The
shift towards industrialization in agriculture and mining has also grown
important, as these industries require specialized equipment to be efficient.

The construction equipment
industry is classified into product and region

Based on product, the market
share from the concrete equipment segment is slated to gain momentum through
2032, due to surging construction activities across various industries.
Increased urbanization and infrastructure are necessiting more concrete, further
increasing the demand for equipment, such as mixers, pumps, and pavers. This is
not only increasing the sales of these machines but also making way for cranes,
haulers, and other ancillary equipment for efficient line operations. As
construction projects are becoming more complex and time-consuming, advances in
concrete machinery with features, such as automation and remote-control further
will increase productivity and project timelines.

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Europe construction
equipment industry will grow substantially between 2024 and 2032. Aging
infrastructure in many European countries is making way for large-scale
renovation, necessitating the use of specialized equipment for tasks, such as
bridge repairs and road resurfacing. Government policies for promoting greener
building practices are creating a special demand for hybrid electric and
mechanical products, with stricter emissions regulations. This unique
combination of infrastructure demands, sustainability concerns and
technological advancements is driving the regional market.

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