Construction Equipment Market Analysis

Propulsion Type (Diesel, ICE, Electric, CNG/LNG)

Construction equipment market from the diesel segment is anticipated to hold the largest share of 40% during the forecast period. Diesel construction equipment is a common type of machinery that has the highest market penetration in the world on account of its ability to produce substantial torque and constant performance, being essential for handling medium to full-duty jobs under any working condition. Moreover, the easy availability of spare parts and aftersales service at a low cost, and hassle-free maintenance allows diesel-powered vehicles to be an appropriate choice as it is already well-tested and saturated technology. Therefore, these factors are expected to drive the growth of the segment.

Application (Excavation and Mining, Lifting and Material Handling, Earth Moving, Transportation)

The earthmoving segment in the construction equipment market is expected to account for the share of 37% during the foreseen period. The growth can be attributed to the growing investments in industrial and commercial construction projects in developing countries such as China and India. As per a report, China began building commercial real estate on an annual basis in 2021, totaling over 141.05 million square meters. Earthmoving equipment facilitates tasks like excavation, grading, and material handling enabling efficient and timely completion of construction projects.

Our in-depth analysis of the global market includes the following segments: