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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Heavy Construction Equipment Market to reach USD 273.54 billion by 2028.

Global Heavy Construction Equipment Market Size study, By Type (Earth moving equipment, Material handling Equipment, Heavy construction vehicles, Others), By Application (Excavation & demolition, Heavy lifting, Material Handling, Tunneling, Transportation, Recycling & waste management), By End-Use Sector (Construction & manufacturing, Oil & gas, Public works & rail road, Infrastructure, Mining, Forestry & agriculture, Others), and Regional Forecasts 2022-2028

Product Code: OIRIME-74971364
Publish Date: 28-04-2022
Page: 200

Global Heavy Construction Equipment Market is valued approximately USD 170.35 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.0% over the forecast period 2022-2028.

Heavy construction equipment is primarily adopted for performing heavy operations tasks such as lifting excavation, material handling, and other heavy operations. The equipment facilitates the transportation of objects faster, reduces the need for a huge workforce, and improves business efficiency on large scale. Heavy construction equipment is gaining huge traction in public works & railroad, infrastructure, construction & manufacturing, mining, forestry & agriculture, oil & gas, and many other end-use segments. The growing investments in the construction industry, rapid urbanization, increasing demand for heavy construction equipment majorly from developing countries, coupled with rapid technology developments are the major factors that are surging the market demand across the globe. For instance, according to the news released by Global Construction 2030, it is expected that the volume of construction output will increase by 85% and accounted for USD 15.5 trillion globally by 2030. This development is primarily driven by three nations China, India, and the United States that contribute with 57% share for the development of the construction industry around the world. However, the high cost of equipment and shortage of skilled labor force, and maintenance & repair-related issues of equipment impede the growth of the market over the forecast period of 2022-2028. Also, renting or leasing of equipment and agreements & contracts, joint ventures, and mergers & acquisitions among leading companies are anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Heavy Construction Equipment market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific is the leading region across the world in terms of market share owing to the exponential growth of the construction sector, as well as increasing industrialization and urbanization. Whereas, Middle-East & Africa is anticipated to exhibit a significant CAGR over the forecast period 2022-2028. Factors such as increasing disposable income, as well as investments in new building constructions and renovation activities, would create lucrative growth prospects for the Heavy Construction Equipment market across the region.

Major market players included in this report are:
Caterpillar Inc.
Liebherr AG
Terex Corporation
Volvo Construction Equipment AB
Komatsu Limited
Doosan Infracoe
Hitachi Machinery Construction Co., Ltd.
Sany Heavy Industry Co., Ltd.
CNH Industrial N.V.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed inApplicationation about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Earth moving equipment
Material handling Equipment
Heavy construction vehicles
By Application
Excavation & demolition
Heavy lifting
Material Handling
Recycling & waste management
By End-Use Sector
Construction & manufacturing
Oil & gas
Public works & rail road
Forestry & agriculture
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Heavy Construction Equipment Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Heavy Construction Equipment Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Heavy Construction Equipment Market, by Type, 2020-2028 (USD Billion)
1.2.3. Global Heavy Construction Equipment Market, by Application, 2020-2028 (USD Billion)
1.2.4. Global Heavy Construction Equipment Market, by End-Use Sector, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Heavy Construction Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Heavy Construction Equipment Market Dynamics
3.1. Heavy Construction Equipment Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increasing investments in the construction industry Rapid technology advancement in various construction equipment
3.1.2. Market Challenges High cost of equipment Shortage of skilled labor force
3.1.3. Market Opportunities Renting or leasing of equipment Increasing number of agreements & contracts, joint ventures, and mergers & acquisitions among leading companies
Chapter 4. Global Heavy Construction Equipment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Heavy Construction Equipment Market, by Type
6.1. Market Snapshot
6.2. Global Heavy Construction Equipment Market by Type, Performance – Potential Analysis
6.3. Global Heavy Construction Equipment Market Estimates & Forecasts by Type 2018-2028 (USD Billion)
6.4. Heavy Construction Equipment Market, Sub Segment Analysis
6.4.1. Earth moving equipment
6.4.2. Material handling Equipment
6.4.3. Heavy construction vehicles
6.4.4. Others
Chapter 7. Global Heavy Construction Equipment Market, by Application
7.1. Market Snapshot
7.2. Global Heavy Construction Equipment Market by Application, Performance – Potential Analysis
7.3. Global Heavy Construction Equipment Market Estimates & Forecasts by Application 2018-2028 (USD Billion)
7.4. Heavy Construction Equipment Market, Sub Segment Analysis
7.4.1. Excavation & demolition
7.4.2. Heavy lifting
7.4.3. Material Handling
7.4.4. Tunneling
7.4.5. Transportation
7.4.6. Recycling & waste management
Chapter 8. Global Heavy Construction Equipment Market, by End-Use Sector
8.1. Market Snapshot
8.2. Global Heavy Construction Equipment Market by End-Use Sector, Performance – Potential Analysis
8.3. Global Heavy Construction Equipment Market Estimates & Forecasts by End-Use Sector 2018-2028 (USD Billion)
8.4. Heavy Construction Equipment Market, Sub Segment Analysis
8.4.1. Construction & manufacturing
8.4.2. Oil & gas
8.4.3. Public works & rail road
8.4.4. Infrastructure
8.4.5. Mining
8.4.6. Forestry & agriculture
8.4.7. Others
Chapter 9. Global Heavy Construction Equipment Market, Regional Analysis
9.1. Heavy Construction Equipment Market, Regional Market Snapshot
9.2. North America Heavy Construction Equipment Market
9.2.1. U.S. Heavy Construction Equipment Market Type estimates & forecasts, 2018-2028 Application estimates & forecasts, 2018-2028 End-Use Sector estimates & forecasts, 2018-2028
9.2.2. Canada Heavy Construction Equipment Market
9.3. Europe Heavy Construction Equipment Market Snapshot
9.3.1. U.K. Heavy Construction Equipment Market
9.3.2. Germany Heavy Construction Equipment Market
9.3.3. France Heavy Construction Equipment Market
9.3.4. Spain Heavy Construction Equipment Market
9.3.5. Italy Heavy Construction Equipment Market
9.3.6. Rest of Europe Heavy Construction Equipment Market
9.4. Asia-Pacific Heavy Construction Equipment Market Snapshot
9.4.1. China Heavy Construction Equipment Market
9.4.2. India Heavy Construction Equipment Market
9.4.3. Japan Heavy Construction Equipment Market
9.4.4. Australia Heavy Construction Equipment Market
9.4.5. South Korea Heavy Construction Equipment Market
9.4.6. Rest of Asia Pacific Heavy Construction Equipment Market
9.5. Latin America Heavy Construction Equipment Market Snapshot
9.5.1. Brazil Heavy Construction Equipment Market
9.5.2. Mexico Heavy Construction Equipment Market
9.6. Rest of The World Heavy Construction Equipment Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Caterpillar Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Liebherr AG
10.2.3. Terex Corporation
10.2.4. Volvo Construction Equipment AB
10.2.5. Komatsu Limited
10.2.6. Doosan Infracoe
10.2.7. Hitachi Machinery Construction Co., Ltd.
10.2.8. JCB
10.2.9. Sany Heavy Industry Co., Ltd.
10.2.10. CNH Industrial N.V.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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