Construction Equipment Market Size

Construction Equipment Market size was over USD 154.26 billion in 2024 and is projected to reach USD 244.3 billion by the end of 2037, growing at around 3.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of construction equipment is evaluated at USD 158.7 billion.

Rapid urbanization in developing countries and an increased government emphasis on upgrading the existing infrastructure are expected to push up construction activity, raising demand for equipment such as excavators, wheel loaders, dump trucks, etc. According to the UN estimates about 55% of people live in urban areas.

The construction equipment is transportable, semi-permanent, and is primarily used for earthmoving, lifting containers or materials, drilling holes in the earth or rock, and concrete & paving applications. It is also used in other applications such as infrastructure, residential, commercial, and industrial buildings.