The global Construction Mining Equipment Market is accounted to register a CAGR of 5.51% during the forecast period and is estimated to reach USD 11.59 billion by 2032.

Construction equipment are specially designed machinery used to carry out construction operations. These equipment are used for various purposes, such as drilling, hauling, excavating, paving, and grading. The global market for construction equipment includes diverse sectors, such as construction & infrastructure, manufacturing, and oil & gas.

Market Dynamics

Although the construction sector is facing a loss of momentum affecting new construction equipment sales, the market is expected to rebound during the forecast period. The growth of the construction equipment market is driven by technological advances and their adaptations. In addition, infrastructural development and rapid urbanization are growing the demand for the same. Infrastructure is the largest end-use market for this product, especially in emerging markets such as India, China, and Brazil. The construction equipment market is experiencing decent growth as a result of massive investment in the infrastructure market with the goal of accommodating smart commercial and residential buildings.

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Market Segmentation

The global Construction Mining Equipment market has been segmented based Product Type, Market Type, and Propulsion Type.

On the basis of Product Type, the market is segmented into Loaders, Dozers, Excavators, Crushing, Pulverizing & Screening Equipment, and Others. The Excavators segment was attributed to holding the largest market share in 2022, due of technical advancements; contemporary automated excavators are more effective than earlier ones.

Based on Market Type, the global Construction Mining Equipment market has been segmented into New Sales, and Aftermarket. The Aftermarket segment was expected to hold the largest market share in 2022, because of the increase in luxury furniture sales.

Based on Propulsion Type, the global Construction Mining Equipment market has been segmented into Diesel, and CNG/LNG/RNG. The Diesel segment was expected to hold the largest market share in 2022 as surface mines proliferate all over the world.

Regional Analysis

The regional analysis of the construction equipment market is being studied for Asia Pacific, North America, Europe, and the rest of the world.

The Asia Pacific region dominated the market with approximately USD 60 billion in 2019 and is expected to grow to a 4.9% CAGR over the forecast period. China had a strong performance in 2019 due to an increase in infrastructure investment. The excavator, as well as heavy commercial truck sales, experienced a strong output in the previous year, which was a direct result of the growing number of construction projects. China’s region is one of the significant contributors to the manufacture of construction equipment due to the presence of numerous OEMs, low production costs, low labor costs, and the availability of excellent manufacturing facilities in the country. However, the recent outbreak of Coronavirus in China has left a bleak and negative impact on the supply chain and the manufacturing sector.

As per Eurostat, the European region has shown a positive outlook for the construction industry, which has increased the market demand for construction equipment. The North American area is prominent and plays a vital role in the market. Regional development can be attributed to the growing demand for technologically advanced machinery, combined with high pressure from rental companies.

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Key Players

Liebherr-International AG, Zoomlion Heavy Industry Science & Technology Development Co., Terex Corporation, CNH Industrial N.V., Joy Global Inc., Hitachi Construction Machinery Co. Ltd., Atlas Copco AB, Volvo Group, Caterpillar Inc., Komatsu Ltd.

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Tags: Construction Mining Equipment Market Size, Construction Mining Equipment Market, Construction Mining Equipment