Product Code: 5131
Construction Equipment Market is set to witness growth between 2023 and 2032, primarily due to the rising concern around worker safety on construction sites in the Asia Pacific region. Besides, there is an increase in the demand for construction equipment parts in Latin America and the Middle East and Africa region, which will drive the market growth during the foreseeable future.
In addition, the key providers are also seeking to strengthen their market position by expanding their existing portfolios and entering valuable mergers and acquisitions. To cite an instance, in October 2022, Komatsu, a leader in construction equipment, launched its all-electric hydraulic excavator, the PC210E. As per reports, the advanced excavator boasts of lesser noise and increased sustainability, making it a suitable choice for Komatsu, which has pledged to achieve carbon neutrality by 2050.
Overall, the construction equipment market has been segmented in terms of product, sales channel, and region.
On the basis of the product, the market is likely to be characterized by the concrete equipment segment, which is anticipated to grow at more than 5% CAGR during 2023-2032. The segmental expansion will result from the increasing construction activities and favorable government policies that are focused on improving the transportation infrastructure. For instance, in January 2023, the UK government announced funding more projects in underdeveloped regions. In an attempt to achieve that goal, the federal bodies declared awarding USD 83 million for transportation projects across the country.
Based on sales channel, the online segment is expected to experience rapid growth over the next ten years. The increasing adaptation of digital channels, including social media channels and websites, will be the primary reason supporting the segmental expansion.
In the regional context, the North America construction equipment market was valued at more than USD 5 billion in 2022. The regional market growth can be accredited to the increasing construction activities in North America. According to a report published in December 2022, in the USA, construction activities have been increasing steadily, and non-residential construction went up by 3.8% in November 2021, due to the emerging data center and hotel projects. Besides, major companies operating in this region are also offering their services to quickly repair the equipment, which will further bolster the market growth.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definition
- 1.2 Base estimates & forecast
- 1.3 Forecast calculations
- 1.4 Data Sources
- 1.4.1 Secondary
- 1.4.2 Primary
- 1.5 Industry Glossary
Chapter 2 Executive Summary
- 2.1 Construction equipment aftermarket industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.3 Regional trends
- 2.4 Product trends
- 2.5 Sales channel trends
Chapter 3 Construction Equipment Aftermarket Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1.1 North America
- 3.2.1.2 Europe
- 3.2.1.3 Asia Pacific
- 3.2.1.4 Latin America
- 3.2.1.5 Middle East & Africa
- 3.3 Impact analysis of Russia-Ukraine war
- 3.4 Construction equipment aftermarket industry ecosystem analysis
- 3.4.1 Raw material suppliers
- 3.4.2 Component suppliers
- 3.4.3 Technology/service providers
- 3.4.4 Manufacturers
- 3.4.5 End-users
- 3.4.6 Profit margin analysis
- 3.4.7 Vendor matrix
- 3.5 Technology & innovation landscape
- 3.5.1 3D printing
- 3.5.2 Computer-Aided Design (CAD) software
- 3.5.3 Hydraulic system and its components
- 3.6 Patent analysis
- 3.7 Investment portfolio
- 3.8 Key initiatives & news
- 3.9 Regulatory landscape
- 3.9.1 North America
- 3.9.2 Europe
- 3.9.3 Asia Pacific
- 3.9.4 Latin America
- 3.9.5 MEA
- 3.10 Industry impact forces
- 3.10.1 Growth drivers
- 3.10.1.1 Growing constructions activities across the globe
- 3.10.1.2 Increasing awareness about construction equipment performance and efficiency
- 3.10.1.3 Implementation of stringent government regulations for construction equipment emissions in North America & Europe
- 3.10.1.4 Rising worker safety concerns on construction sites in Asia Pacific
- 3.10.1.5 Increasing demand for aftermarket construction equipment parts & components in the MEA and Latin America
- 3.10.2 Industry pitfalls & challenges
- 3.10.2.1 Presence of several local players offering low-cost products
- 3.10.2.2 Technological advancements in monitoring and tracking equipment performance
- 3.11 Growth potential analysis
- 3.12 Porter's analysis
- 3.12.1 Bargaining power of suppliers
- 3.12.2 Bargaining power of buyers
- 3.12.3 The threat of new entrants
- 3.12.4 The threat of substitute
- 3.12.5 Competitive rivalry
- 3.13 PESTEL analysis
- 3.13.1 Political
- 3.13.2 Economic
- 3.13.3 Social
- 3.13.4 Technological
- 3.13.5 Legal
- 3.13.6 Environmental
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share, 2022
- 4.2.1 Competitive analysis of key market players, 2022
- 4.2.1.1 Caterpillar, Inc.
- 4.2.1.2 XCMG
- 4.2.1.3 Deere & Co.
- 4.2.1.4 Sany Group
- 4.2.1.5 Zoomlion
- 4.2.2 Competitive analysis of innovative players, 2022
- 4.2.2.1 Volvo CE
- 4.2.2.2 Hitachi Construction Machinery
- 4.2.2.3 Liebherr Group
- 4.2.2.4 Kobelco Construction Machinery
- 4.2.3 Competitive positioning matrix
- 4.2.4 Strategic outlook matrix
Chapter 5 Construction equipment aftermarket, By Product
- 5.1 Key trends, by product
- 5.2 Earthmoving & roadbuilding equipment
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Hydraulic systems
- 5.2.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.3 Engine parts
- 5.2.3.1 Market estimates and forecast, 2018 - 2032
- 5.2.4 Axle & transmission parts
- 5.2.4.1 Market estimates and forecast, 2018 - 2032
- 5.2.5 Others
- 5.2.5.1 Market estimates and forecast, 2018 - 2032
- 5.3 Material handling & cranes
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.2 Hydraulic systems
- 5.3.2.1 Market estimates and forecast, 2018 - 2032
- 5.3.3 Engine parts
- 5.3.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.4 Axle & transmission parts
- 5.3.4.1 Market estimates and forecast, 2018 - 2032
- 5.3.5 Others
- 5.3.5.1 Market estimates and forecast, 2018 - 2032
- 5.4 Concrete equipment
- 5.4.1 Market estimates and forecast, 2018 - 2032
- 5.4.2 Hydraulic systems
- 5.4.2.1 Market estimates and forecast, 2018 - 2032
- 5.4.3 Engine parts
- 5.4.3.1 Market estimates and forecast, 2018 - 2032
- 5.4.4 Axle & transmission parts
- 5.4.4.1 Market estimates and forecast, 2018 - 2032
- 5.4.5 Others
- 5.4.5.1 Market estimates and forecast, 2018 - 2032
Chapter 6 Construction Equipment Aftermarket, By Sales Channel
- 6.1 Key trends, by sales channel
- 6.2 Online
- 6.2.1 Market estimates and forecast, 2018 - 2032
- 6.3 Offline
- 6.3.1 Market estimates and forecast, 2018 - 2032
Chapter 7 Construction Equipment Aftermarket, By Region
- 7.1 Key trends, by region
- 7.2 North America
- 7.2.1 Market estimates and forecast, 2018 - 2032
- 7.2.2 Market estimates and forecast, by product, 2018 - 2032
- 7.2.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.2.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.2.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.2.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.2.4 U.S.
- 7.2.4.1 Market estimates and forecast, 2018 - 2032
- 7.2.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.2.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.2.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.2.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.2.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.2.5 Canada
- 7.2.5.1 Market estimates and forecast, 2018 - 2032
- 7.2.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.2.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.2.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.2.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.2.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3 Europe
- 7.3.1 Market estimates and forecast, 2018 - 2032
- 7.3.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3.4 UK
- 7.3.4.1 Market estimates and forecast, 2018 - 2032
- 7.3.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3.5 Germany
- 7.3.5.1 Market estimates and forecast, 2018 - 2032
- 7.3.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3.6 France
- 7.3.6.1 Market estimates and forecast, 2018 - 2032
- 7.3.6.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.6.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.6.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.6.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.6.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3.7 Italy
- 7.3.7.1 Market estimates and forecast, 2018 - 2032
- 7.3.7.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.7.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.7.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.7.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.7.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.3.8 Russia
- 7.3.8.1 Market estimates and forecast, 2018 - 2032
- 7.3.8.2 Market estimates and forecast, by product, 2018 - 2032
- 7.3.8.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.3.8.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.3.8.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.3.8.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.4.4 China
- 7.4.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.4.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.4.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.4.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.4.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.4.5 India
- 7.4.5.1 Market estimates and forecast, 2018 - 2032
- 7.4.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.4.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.4.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.4.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.4.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.4.6 Japan
- 7.4.6.1 Market estimates and forecast, 2018 - 2032
- 7.4.6.2 Market estimates and forecast, by product, 2018 - 2032
- 7.4.6.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.4.6.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.4.6.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.4.6.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.4.7 South Korea
- 7.4.7.1 Market estimates and forecast, 2018 - 2032
- 7.4.7.2 Market estimates and forecast, by product, 2018 - 2032
- 7.4.7.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.4.7.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.4.7.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.4.7.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.5 Latin America
- 7.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.5.4 Brazil
- 7.5.4.1 Market estimates and forecast, 2018 - 2032
- 7.5.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.5.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.5.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.5.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.5.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.5.5 Mexico
- 7.5.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.5.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.5.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.5.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.5.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.6 MEA
- 7.6.1 Market estimates and forecast, 2018 - 2032
- 7.6.2 Market estimates and forecast, by product, 2018 - 2032
- 7.6.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.6.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.6.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.6.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.6.4 UAE
- 7.6.4.1 Market estimates and forecast, 2018 - 2032
- 7.6.4.2 Market estimates and forecast, by product, 2018 - 2032
- 7.6.4.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.6.4.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.6.4.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.6.4.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.6.5 Saudi Arabia
- 7.6.5.1 Market estimates and forecast, 2018 - 2032
- 7.6.5.2 Market estimates and forecast, by product, 2018 - 2032
- 7.6.5.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.6.5.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.6.5.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.6.5.3 Market estimates and forecast, by sales channel, 2018 - 2032
- 7.6.6 South Africa
- 7.6.6.1 Market estimates and forecast, 2018 - 2032
- 7.6.6.2 Market estimates and forecast, by product, 2018 - 2032
- 7.6.6.2.1 Market estimates and forecast, by earthmoving & roadbuilding equipment, 2018 - 2032
- 7.6.6.2.2 Market estimates and forecast, by material handling & cranes, 2018 - 2032
- 7.6.6.2.3 Market estimates and forecast, by concrete equipment, 2018 - 2032
- 7.6.6.3 Market estimates and forecast, by sales channel, 2018 - 2032
Chapter 8 Company Profiles
- 8.1 Caterpillar, Inc.
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
- 8.2 Deere & Co.
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic Outlook
- 8.2.5 SWOT Analysis
- 8.3 Hitachi Construction Machinery
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 Strategic Outlook
- 8.3.5 SWOT Analysis
- 8.4 Kobelco Construction Machinery
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
- 8.5 Liebherr Group
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
- 8.6 Manitowoc Corporation
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
- 8.7 Palfinger AG
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
- 8.8 Sany Group
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
- 8.9 Tadano Ltd.
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
- 8.10 Terex Corporation
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
- 8.11 Volvo CE
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
- 8.12 XCMG
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis
- 8.13 Zoomlion
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 Strategic Outlook
- 8.13.5 SWOT Analysis