Global construction equipment market size 2023-2031
The global construction equipment market was estimated at 195 billion U.S. dollars in 2023. This market is expected to increase to around 274 billion U.S. dollars by 2031.
Size of the global construction equipment market
Caterpillar and Komatsu are among the world’s leading manufacturers of construction equipment, which includes excavators, wheel loaders, pavers and concrete mixers. Construction machinery manufacturers sell their equipment to customers in the private as well as the public segment, the latter one being highly dependent on investment efforts undertaken by political decision makers. During the 2008-09 financial crisis, many politicians delayed the continued renewal of their countries’ infrastructure, resulting in a stark decline in market volume particularly in mature economies such as Japan.
Size of the global construction equipment market
Caterpillar and Komatsu are among the world’s leading manufacturers of construction equipment, which includes excavators, wheel loaders, pavers and concrete mixers. Construction machinery manufacturers sell their equipment to customers in the private as well as the public segment, the latter one being highly dependent on investment efforts undertaken by political decision makers. During the 2008-09 financial crisis, many politicians delayed the continued renewal of their countries’ infrastructure, resulting in a stark decline in market volume particularly in mature economies such as Japan.
