Heavy Construction Equipment Market Size worth $338.06 billion by 2031, Globally, at a CAGR of 6.16%, Rising demand for material handling equipment in warehouse sector | Business Market Insights

Jun 30, 2025, 11:50 ET

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NEW YORK, June 30, 2025 /PRNewswire/ -- According to a new comprehensive report from Business Market Insights [BMI], "Heavy Construction Equipment Market Size and Forecast (2021–2031)" forecasts how the market is set to surge 51% by 2031 as Warehouse and Logistics Sector is Growing. The report spotlights growing construction sector, warehouse and logistics sector in supporting the global demand for forklifts, cranes, and excavators among others.

The report forecasts the market to expand from US$ 224.15 billion in 2024 to US$ 338.06 billion by 2031, registering a robust CAGR of 6.16% over the 2025–2031 period.

The construction industry is growing rapidly in various countries across the globe, with a rise in government investments and an increase in demand for various construction projects. Countries such as the US, China, Mexico, Brazil, and India have the most significant construction businesses in the world. According to the Associated General Contractors of America (AGC), the US construction industry is growing with an investment of ~US$ 1.4 trillion per year. A surge in construction activities in the country, along with the increasing population and the proliferating commercial sector, drives the heavy construction equipment market growth.

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Overview of report findings

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Market Segmentation

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Competitive Strategy & Development

Global Headlines

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Conclusion

Heavy construction equipment refers to large machinery and vehicles used in construction projects to carry out tasks such as excavation, lifting, material handling, and demolition. These machines are essential for large-scale construction and civil engineering projects, providing efficiency and productivity on job sites.

The rise in global investments in the clean energy sector is also a major driving factor for the heavy construction equipment market. According to the International Energy Agency, more than US$ 3 trillion invested in 2024 for clean energy related infrastructure developments across the globe.

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Trending Related Reports:

The Latin America Heavy Construction Equipment Market size is expected to reach US$ 12.40 billion by 2031 from US$ 9.80 billion in 2024. The market is estimated to record a CAGR of 3.90% from 2025 to 2031.

The Western Europe Heavy Construction Equipment Market size is expected to reach US$ 55.40 million by 2031 from US$ 35.90 million in 2024. The market is estimated to record a CAGR of 6.40% from 2025 to 2031.

The North America Heavy Construction Equipment Market size is expected to reach US$ 89.30 billion by 2031 from US$ 62.49 billion in 2024. The market is estimated to record a CAGR of 5.34% from 2025 to 2031.

The Europe Heavy Construction Equipment Market size is expected to reach US$ 68.22 billion by 2031 from US$ 44.67 billion in 2024. The market is estimated to record a CAGR of 6.35% from 2025 to 2031.

The BRICS Heavy Construction Equipment Market size is expected to reach US$ 104.80 million by 2031 from US$ 64.60 million in 2024. The market is estimated to record a CAGR of 7.20% from 2025 to 2031.

The US heavy construction equipment market was valued at US$ 38,382.5 million in 2019 and is projected to reach US$ 52,477.6 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027.

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