Global Construction Machinery Market Report 2022: Market is Forecast to Grow 4.1% Per Year to $250 Billion in 2025 – Forecast to 2030

DUBLIN, February 07, 2022–(BUSINESS WIRE)–The “Global Construction Machinery Market Forecasts to 2030” report has been added to ResearchAndMarkets.com’s offering.

Global demand for construction machinery is forecast to grow 4.1% per year to $250 billion in 2025, supported by:

  • Rising construction activity – aided by factors ranging from population growth to increasing industrial output – and infrastructure spending

  • Advances in worldwide mining and forestry activity and energy production, supported by a recovery in commodity prices from 2020 lows

  • Increasing replacement sales of global construction equipment, after many operators delayed machinery purchases in 2020

  • The introduction of newly developed, state-of-the-art construction equipment, which will cost considerably more than predecessors

  • Rising sales of replacement parts and attachments as the amount of equipment in use around world increases

Outside of China – which had an elevated level of 2020 product sales – annual growth was slower between 2015 and 2020 (1.3%) and will be noticeably faster through 2025 (5.3%).

China’s Strong 2020 Performance Will Impact Global Forecast for Construction Machinery

Due to the COVID-19 pandemic, most countries experienced declining construction machinery sales in 2020 as economic conditions weakened, international trade decreased, and many currencies depreciated against the US dollar. These nations recorded losses of 5% to 20% in 2020, wiping out a large portion of gains recorded since 2015.

However, China proved to be an exception to this trend. A surge in government stimulus spending, coupled with the country mitigating the most significant impacts of the pandemic at a relatively early date, prompted double-digit gains in construction equipment demand and prevented even greater global losses.

Through 2025, however, China will underperform most major markets and restrain the average global rate of growth, owing largely to its strong 2020 performance. First, growth will occur from a high 2020 base.

Second, numerous Chinese operators invested in new equipment and replaced aging machines in 2020. Most other national markets will record a strong rebound in construction machinery demand through 2025, with particularly strong gains coming during the first part of the forecast period.

Technological Innovation to Drive Market Gains

Industry leaders are currently developing the next generation of construction equipment – ranging from alternative fuel trucks and semi-autonomous excavators – which will be considerably more productive, efficient, and environmentally friendly. New models will feature a variety of innovative technologies, such as advanced sensors, electric engines, and sophisticated data collection capabilities.

For example:

  • Caterpillar offers excavators with technology that calculates real-time payload estimates without swinging to help prevent over- and under-loading trucks.

  • Komatsu offers dozers that are equipped with capabilities that enable automatic tilt steering control and automatic spreading of fill material.

The incorporation of such technologies into new models will trace both new and replacement equipment sales and drive up average construction equipment prices.

Key topics covered:

1. Executive summary

2. Impact of COVID-19 Pandemic

3.Overview

  • study scope

  • historical trends

  • Local Supply & Demand

  • demand by region

  • Production by region

  • International Trade

  • Demand by product

  • units

  • market value

  • pricing trends

4. Factors Impacting Demand

  • Global Construction Outlook

  • Regulations & Industry Standards

  • product safety

  • emissions

  • Technical standards

  • Competition from Used & Rental Machinery

  • used machinery

  • Remanufactured Machinery

  • rental equipment

  • leasing

  • Major Suppliers of Used & Rental Machinery

  • Technologies & Innovations

5. Excavators

6. Loaders

7. Cranes & Draglines

8. Dozers & Off Highway Trucks

9. Mixing & Paving Equipment

10. Grading & Compaction Equipment

11. Parts & Attachments

Companies Mentioned

  • BELAZ

  • Caterpillar

  • CNH Industrial

  • deer

  • Doosan Infracore

  • FAYAT

  • Guangxi LiuGong Machinery

  • hitachi

  • Hyundai Construction Equipment

  • JC Bamford Excavators

  • Kobe Steel (Kobelco)

  • komatsu

  • Kubota

  • Liebherr International

  • Lonking

  • Manitowoc

  • SANY Heavy Industry

  • Sumitomo Heavy Industries

  • Tadano

  • Terex

  • Volvo

  • Xuzhou Construction Machinery

  • Yanmar

  • Zoomlion

For more information about this report visit https://www.researchandmarkets.com/r/tkb4g8

View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005406/en/

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