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Construction Machinery Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 11
  • SKU: IRTNTR43599
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The construction machinery market share is expected to increase to USD 31.67 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4%.

This construction machinery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers construction machinery market segmentation by product (earthmoving machinery, material handling machinery, concrete and road construction machinery, and other machinery) and geography (APAC, North America, Europe, South America, and MEA).

The construction machinery market report also offers information on several market vendors that include AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Co., Doosan Bobcat Inc., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International AG, and Terex Corp. among others.

What will the Construction Machinery Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Construction Machinery Market Size for the Forecast Period and Other Important Statistics

 

Construction Machinery Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increased investment in infrastructure is notably driving the construction machinery market growth, although factors such as the growing secondhand machine market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the construction machinery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Construction Machinery Market Driver

  • One of the key factors driving growth in the construction machinery market is the increased investment in infrastructure.
  • The demand for construction machinery is growing due to the increasing investment in infrastructure projects across the world.
  • Governments across the world are investing significantly in the development of sports infrastructure and facilities.
    • The 2022 FIFA World Cup to be held in Qatar is increasing construction spending in the Middle Eastern regions.
    • Qatar's local organization is planning to build nine new stadiums and renovate three existing stadiums for the event.
  • The spending on capital-intensive projects and infrastructure development is expected to grow significantly in the next decade, which will augment the growth of the global construction machinery market during the forecast period.
  • Some construction projects were on hold owing to the COVID-19 pandemic-induced restrictions and norms. However, governments across the world are looking forward to investing in healthcare infrastructure and building hospitals. 

Key Construction Machinery Market Trend

  • The increase in strategic acquisitions and partnerships is another factor supporting the construction machinery market share growth.
  • Strategic acquisitions and partnerships characterize the global construction machinery market.
  • Vendors in the market are actively collaborating with raw material suppliers to facilitate uninterrupted supply and to partner with distributors to ensure a steady market for their products.
  • With strategic acquisitions, manufacturers can broaden their product portfolio and improve operational capabilities.
  • Several vendors in the global construction machinery market have formed several strategic alliances for expanding their market presence.
  • The increment in the mergers and acquisitions in the construction industry is expected to create growth opportunities for the vendors of the market in focus.

Key Construction Machinery Market Challenge

  • The growing secondhand machine market will be a major challenge for the construction machinery market during the forecast period.  
  • Several manufacturing and mining industries in the US and Europe, especially in countries such as Romania and Germany, were closed because of high labor costs and strict pollution laws. This has resulted in the increased availability of secondhand machines.
  • Many Asian contractors and mining companies are eager to buy secondhand European construction machinery such as excavators at low prices.
  • By using secondhand machines, contractors can control their capital investments as these machines are available at affordable prices.
  • The small manufacturers find it challenging to buy new European machines due to their high costs. Once refurbished and reconditioned, these machines become as good as new ones.
  • The growing secondhand machine market will limit the demand for new construction machinery.

This construction machinery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global construction machinery market is a part of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the construction machinery market during the forecast period.

Who are the Major Construction Machinery Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB Volvo
  • Caterpillar Inc.
  • CNH Industrial NV
  • Deere & Co.
  • Doosan Bobcat Inc.
  • Hitachi Construction Machinery Co. Ltd.
  • J C Bamford Excavators Ltd.
  • Komatsu Ltd.
  • Liebherr-International AG
  • Terex Corp.

 

This statistical study of the construction machinery market encompasses successful business strategies deployed by the key vendors. The construction machinery market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • AB Volvo - This company offers excavators, wheel loaders, articulated haulers, rigid haulers, asphalt pavers, and compactors.
  • AB Volvo - The trucks segment focuses on manufacturing, development, and sales of trucks.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The construction machinery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Construction Machinery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the construction machinery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Construction Machinery Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for construction machinery in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising number of projects such as roads, dams, airports, and others will facilitate the construction machinery market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic had a devastating impact on the construction sector in APAC. Some countries, such as India and Thailand, are easing their COVID-19 regulations and norms. For instance, as of July 2021, Thailand's national COVID-19 task force has agreed to relax restrictions on some incomplete construction projects that can cause damage or danger.

What are the Revenue-generating Product Segments in the Construction Machinery Market?

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The construction machinery market share growth by the earthmoving machinery segment will be significant during the forecast period. The increasing investment in the infrastructure industry to improve facilities in the government and private sectors is providing growth opportunities for the vendors in the earthmoving machinery segment of the market in focus. The rapid growth in urbanization, especially in developing countries, will lead to an increase in the number of megacities during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the construction machinery market size and actionable market insights on post COVID-19 impact on each segment.

 

Construction Machinery Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4%

Market growth 2021-2025

$ 31.67 billion

Market structure

Fragmented

YoY growth (%)

2.97

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 51%

Key consumer countries

China, US, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Co., Doosan Bobcat Inc., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International AG, and Terex Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Construction Machinery Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive construction machinery market growth during the next five years
  • Precise estimation of the construction machinery market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the construction machinery market industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of construction machinery market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Construction machinery and heavy trucks.

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Earthmoving machinery - Market size and forecast 2020-2025
      • Exhibit 17: Earthmoving machinery - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Earthmoving machinery - Year-over-year growth 2020-2025 (%)
    • 5.4 Material handling machinery - Market size and forecast 2020-2025
      • Exhibit 19: Material handling machinery - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Material handling machinery - Year-over-year growth 2020-2025 (%)
    • 5.5 Concrete and road construction machinery - Market size and forecast 2020-2025
      • Exhibit 21: Concrete and road construction machinery - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Concrete and road construction machinery - Year-over-year growth 2020-2025 (%)
    • 5.6 Other machinery - Market size and forecast 2020-2025
      • Exhibit 23: Other machinery - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 24: Other machinery - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Product
      • Exhibit 25: Market opportunity by Product

    6 Customer landscape

    • 6.1 Overview
      • Exhibit 26: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 27: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 28: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 33: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 35: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 36: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 37: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 39: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 40: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 41: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 42: Vendor landscape
        • 9.2 Landscape disruption

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 45: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 46: Market positioning of vendors
          • 10.3 AB Volvo
            • Exhibit 47: AB Volvo - Overview
            • Exhibit 48: AB Volvo - Business segments
            • Exhibit 49: AB Volvo-Key news
            • Exhibit 50: AB Volvo - Key offerings
            • Exhibit 51: AB Volvo - Segment focus
          • 10.4 Caterpillar Inc.
            • Exhibit 52: Caterpillar Inc. - Overview
            • Exhibit 53: Caterpillar Inc. - Business segments
            • Exhibit 54: Caterpillar Inc. - Key offerings
            • Exhibit 55: Caterpillar Inc. - Segment focus
          • 10.5 CNH Industrial NV
            • Exhibit 56: CNH Industrial NV - Overview
            • Exhibit 57: CNH Industrial NV - Business segments
            • Exhibit 58: CNH Industrial NV- Key news
            • Exhibit 59: CNH Industrial NV - Key offerings
            • Exhibit 60: CNH Industrial NV - Segment focus
          • 10.6 Deere & Co.
            • Exhibit 61: Deere & Co. - Overview
            • Exhibit 62: Deere & Co. - Business segments
            • Exhibit 63: Deere & Co. - Key offerings
            • Exhibit 64: Deere & Co. - Segment focus
          • 10.7 Doosan Bobcat Inc.
            • Exhibit 65: Doosan Bobcat Inc. - Overview
            • Exhibit 66: Doosan Bobcat Inc. - Business segments
            • Exhibit 67: Doosan Bobcat Inc.-Key news
            • Exhibit 68: Doosan Bobcat Inc. - Key offerings
            • Exhibit 69: Doosan Bobcat Inc. - Segment focus
          • 10.8 Hitachi Construction Machinery Co. Ltd.
            • Exhibit 70: Hitachi Construction Machinery Co. Ltd. - Overview
            • Exhibit 71: Hitachi Construction Machinery Co. Ltd. - Product and service
            • Exhibit 72: Hitachi Construction Machinery Co. Ltd. - Key offerings
            • Exhibit 73: J C Bamford Excavators Ltd. - Overview
            • Exhibit 74: J C Bamford Excavators Ltd. - Product and service
            • Exhibit 75: J C Bamford Excavators Ltd. - Key offerings
            • Exhibit 76: Komatsu Ltd. - Overview
            • Exhibit 77: Komatsu Ltd. - Business segments
            • Exhibit 78: Komatsu Ltd. - Key offerings
            • Exhibit 79: Komatsu Ltd. - Segment focus
            • Exhibit 80: Liebherr-International AG - Overview
            • Exhibit 81: Liebherr-International AG - Product and service
            • Exhibit 82: Liebherr-International AG - Key offerings
            • Exhibit 83: Terex Corp. - Overview
            • Exhibit 84: Terex Corp. - Business segments
            • Exhibit 85: Terex Corp. - Key offerings
            • Exhibit 86: Terex Corp. - Segment focus
          • 10.9 J
            • Bamford Excavators Ltd 118
              • Komatsu Ltd 120
                • Liebherr-International AG 122
                  • Terex Corp 124
                    • Appendix 126
                      • Scope of the report 127
                        • Currency conversion rates for US$ 128
                          • Research methodology 130

                            Research Framework

                            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            TechnavioINFORMATION SOURCES

                            Primary sources

                            • Manufacturers and suppliers
                            • Channel partners
                            • Industry experts
                            • Strategic decision makers

                            Secondary sources

                            • Industry journals and periodicals
                            • Government data
                            • Financial reports of key industry players
                            • Historical data
                            • Press releases
                            Technavio

                            TechnavioDATA ANALYSIS

                            Data Synthesis

                            • Collation of data
                            • Estimation of key figures
                            • Analysis of derived insights

                            Data Validation

                            • Triangulation with data models
                            • Reference against proprietary databases
                            • Corroboration with industry experts
                            Technavio

                            TechnavioREPORT WRITING

                            Qualitative

                            • Market drivers
                            • Market challenges
                            • Market trends
                            • Five forces analysis

                            Quantitative

                            • Market size and forecast
                            • Market segmentation
                            • Geographical insights
                            • Competitive landscape
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                            The construction machinery market growth will increase by $31.67 billion during 2021-2025.
                            The construction machinery market is expected to grow at a CAGR of 3.62% during 2021-2025.
                            Technavio has segmented the construction machinery market by product (Earthmoving machinery, Material handling machinery, Concrete and road construction machinery, and Other machinery) and geographic (APAC, North America, Europe, South America, MEA, APAC, North America, Europe, South America, and MEA).
                            AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere & Co., Doosan Bobcat Inc., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International AG, Terex Corp. are a few of the key vendors in the construction machinery market.
                            APAC will register the highest growth rate of 50.84% among the other regions. Therefore, the construction machinery market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                            The key factors driving the construction machinery market growth are:
                            • Increased investment in infrastructure
                            • Increase in strategic acquisitions and partnerships
                            The construction machinery market vendors should focus on grabbing business opportunities from the earthmoving machinery segment as it accounted for the largest market share in the base year.
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