Updated

Updated · Straits Research · Jun 24

Construction Equipment Market to Hit $512.25 Billion by 2034 as APAC Holds 44.9% Share

Updated

Updated · Straits Research · Jun 24

Construction Equipment Market to Hit $512.25 Billion by 2034 as APAC Holds 44.9% Share

1 articles · Updated · Straits Research · Jun 24

USD 512.25 billion is the projected size of the global construction equipment market by 2034, up from USD 262.25 billion in 2026, implying an 8.7% CAGR.
Infrastructure buildouts, smart-city and transport spending, mining expansion, and broader mechanization are driving demand, while fleet renewal is also pushing contractors toward newer low-emission machines.
Asia Pacific led the market with a 44.9% share in 2025, while North America is forecast to post the fastest regional growth at a 7.2% CAGR.
ICE-powered equipment still dominated with a 91.8% share in 2025, but electric equipment is expected to expand faster at a 13.9% CAGR as emissions rules tighten.
Earthmoving equipment and excavation and mining each held 45.2% shares in 2025, underscoring how large infrastructure and resource projects remain the market's core demand base.

Sources

Amid conflicting US emission rules, how can global manufacturers design the next generation of eco-friendly heavy equipment?

As AI transforms construction sites, what is the transition plan for the industry's millions of traditional workers?

Will autonomous machinery solve the construction labor crisis or just shift the bottleneck from operators to technicians?

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