Construction and Mining Equipment Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030

Description

Persistence Market Research has recently conducted an in-depth analysis of the Construction and Mining Equipment Market, providing a comprehensive report on the global landscape. This report offers key insights into market dynamics, trends, opportunities, and challenges, offering a detailed overview of the market structure. The research publication presents exclusive data and statistics, projecting the anticipated growth trajectory of the Construction and Mining Equipment Market from 2023 to 2030.

The worldwide market for construction and mining equipment is projected to grow at a compound annual growth rate (CAGR) of 3.8%, reaching a value of US$225.1 billion by the conclusion of 2030, up from US$173.4 billion in 2023.

Key Insights:

Construction and Mining Equipment Market Size (2023E): US$173.4 Bn

Projected Market Value (2030F): US$25.1 Bn

Global Market Growth Rate (CAGR 2023 to 2030): 3.8%

Historical Market Growth Rate (CAGR 2018 to 2022): 3.3%

Construction and Mining Equipment Market - Report Scope

Construction and mining equipment encompass a diverse range of heavy-duty machinery crucial for tasks in construction and mining operations, such as excavating, transporting, and processing materials. These machines, including excavators, bulldozers, loaders, crushers, and drilling equipment, aim to boost efficiency, productivity, and safety in demanding worksites worldwide. Driven by factors like robust infrastructure development, increasing mineral demand, and technological advancements, the market for construction and mining equipment is experiencing steady growth. Infrastructure projects, particularly in emerging economies, are major drivers of equipment demand. Additionally, the mining sector's focus on operational efficiency and automation is fostering the adoption of advanced equipment. Opportunities for further growth lie in developing environmentally sustainable equipment and integrating technologies like IoT and AI to improve performance and safety. As the industry embraces innovation and addresses sustainability challenges, the construction and mining equipment market is poised for continued evolution and expansion.

Market Growth Drivers

Infrastructure development stands out as a primary force propelling the construction and mining equipment market forward. The global emphasis on building modern infrastructure, including roads, bridges, and urban projects, sustains a steady demand for construction equipment. Machinery like excavators, bulldozers, and loaders play indispensable roles in large-scale construction ventures, driving market growth. As nations invest in upgrading and expanding their infrastructure, the construction and mining equipment sector experiences a surge in demand, positioning itself as a vital facilitator of global development objectives. Furthermore, technological advancements emerge as another crucial driver shaping the construction and mining equipment market. Integration of advanced technologies such as telematics, GPS, and automation enhances operational efficiency and safety in construction and mining activities. Smart equipment with real-time data monitoring capabilities enables better machinery management, reduces downtime, and optimizes resource utilization. With the industry embracing innovative solutions like autonomous vehicles and AI-driven equipment, the construction and mining equipment market evolves to meet the demand for smarter, more efficient, and safer machinery. This evolution reflects a broader trend towards a technologically advanced and interconnected landscape in the construction and mining sectors.

Market Restraints

Economic uncertainties present a significant factor influencing the construction and mining equipment market's performance. Fluctuations in the economy, such as recessions or global financial crises, can impact investment decisions regarding construction and mining projects. During periods of economic uncertainty, businesses and governments may defer or scale down infrastructure development projects, affecting the demand for construction and mining equipment. Decreased investment in projects can result in reduced equipment purchases, impacting manufacturers and suppliers in the market. Supply chain disruptions pose another significant challenge for the construction and mining equipment market. The industry's global supply chain is vulnerable to various external factors, including geopolitical tensions, natural disasters, and pandemics. Disruptions in the supply chain can cause delays in the production and delivery of crucial components and equipment, affecting manufacturers and suppliers. Manufacturers in the construction and mining equipment market must address these challenges by implementing resilient supply chain strategies, diversifying sourcing options, and utilizing technology for real-time visibility and risk management. Mitigating supply chain disruptions is essential for maintaining market stability and meeting the ongoing demand for construction and mining machinery.

Opportunities

A significant opportunity for the construction and mining equipment market is the global shift towards sustainability. With increasing environmental concerns, there's a growing demand for eco-friendly technologies and practices in these industries. Manufacturers can capitalize by developing and promoting sustainable equipment, including electric or hybrid machinery and fuel-efficient technologies. This trend creates a niche market within the industry, driving revenue growth.

Additionally, integrating advanced technologies like AI, IoT, and automation presents another lucrative opportunity. Smart equipment with real-time monitoring and predictive maintenance capabilities enhances efficiency and safety. Manufacturers investing in these innovations can position themselves as leaders, meeting the evolving needs of construction and mining companies while driving revenue growth and market differentiation.

Key Questions Answered in Report::

What is the current size of the construction and mining equipment market, and what is the projected growth rate over the forecast period?
What factors are driving the growth of the construction and mining equipment market? Are there specific trends or developments shaping the industry's trajectory?
How is the construction and mining equipment market segmented by product type, application, and geographical region?
What are the key factors influencing demand within each segment?
Who are the major players in the construction and mining equipment market?
What strategies are they employing to gain a competitive edge, and what are their strengths and weaknesses?

Competitive Intelligence and Business Strategy

Prominent organizations like Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., and Volvo Construction Equipment lead the construction and mining equipment sector. Competitive intelligence is paramount for companies navigating this rapidly evolving landscape, involving thorough analysis of competitors' strategies, market share, product portfolios, and technological advancements. Understanding competitors' strengths and weaknesses enables informed decision-making, identification of market gaps, and effective positioning of offerings. Continuous monitoring of competitor activities facilitates swift adaptation to changing market conditions, ensuring agility and competitiveness. Given the industry's dynamic nature, characterized by technological innovations and sustainability trends, robust competitive intelligence is essential for staying ahead in the construction and mining equipment market. Developing an effective business strategy in this sector involves a multifaceted approach. Successful companies concentrate on crafting solutions tailored to specific industry needs, such as sustainability, efficiency, and technological integration. Strategies often entail forming strategic alliances, collaborations, and partnerships to enhance product offerings and broaden market reach.

Key Companies Profiled
Caterpillar Inc.
Komatsu Ltd.

Hitachi Construction Machinery Co., Ltd.

Volvo Construction Equipment
Liebherr Group
Sandvik AB
Terex Corporation
SANY Group
Doosan Infracore Co., Ltd.
XCMG Group

Construction and Mining Equipment Market Segmentation

By Product Type:
Loaders
Dozers
Excavators
Crushers
Drills
Misc
By Application:
Infrastructure
Mineral Mining
Residential Building
Metal Mining
Misc
By Power Source:
Diesel-powered
Electric-powered
Hybrid
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP33615

1. Executive Summary

1.1. Global Construction and Mining Equipment Market Snapshot, 2023 and 2030
1.2. Market Opportunity Assessment, 2023 - 2030, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Product Type Lifecycle Analysis
2.4. Construction and Mining Equipment Market: Value Chain
- 2.4.1. List of Raw Material Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Applications
- 2.4.5. Profitability Analysis
2.5. Porter Five Force's Analysis
2.6. Geopolitical Tensions: Market Impact
2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
2.8. Forecast Factors - Relevance and Impact
2.9. Regulatory and Technology Landscape

3. Global Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
3.2. Market Size (US$ Mn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2013-2016
- 3.2.2. Current Market Size Forecast, 2018-2026
3.3. Global Construction and Mining Equipment Market Outlook: Product Type
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Product Type, 2018 - 2022
- 3.3.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
  - 3.3.3.1. Loaders
  - 3.3.3.2. Dozers
  - 3.3.3.3. Excavators
  - 3.3.3.4. Crushers
  - 3.3.3.5. Drills
  - 3.3.3.6. Misc
3.4. Market Attractiveness Analysis: Product Type
3.5. Global Construction and Mining Equipment Market Outlook: Application
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Application, 2018 - 2022
- 3.5.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
  - 3.5.3.1. Infrastructure
  - 3.5.3.2. Mineral Mining
  - 3.5.3.3. Residential Building
  - 3.5.3.4. Metal Mining
  - 3.5.3.5. Misc
3.6. Market Attractiveness Analysis: Application
3.7. Global Construction and Mining Equipment Market Outlook: Power Source
- 3.7.1. Introduction / Key Findings
- 3.7.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Power Source, 2018 - 2022
- 3.7.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
  - 3.7.3.1. Diesel-powered
  - 3.7.3.2. Electric-powered
  - 3.7.3.3. Hybrid
3.8. Market Attractiveness Analysis: Power Source

4. Global Construction and Mining Equipment Market Outlook: Region

4.1. Key Highlights
4.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2018 - 2022
4.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Region, 2023 - 2030
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
4.4. Market Attractiveness Analysis: Region

5. North America Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

5.1. Key Highlights
5.2. Pricing Analysis
5.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 5.3.1. By Country
- 5.3.2. By Product Type
- 5.3.3. By Application
- 5.3.4. By Application
5.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 5.4.1. U.S.
- 5.4.2. Canada
5.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 5.5.1. Loaders
- 5.5.2. Dozers
- 5.5.3. Excavators
- 5.5.4. Crushers
- 5.5.5. Drills
- 5.5.6. Misc
5.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 5.6.1. Infrastructure
- 5.6.2. Mineral Mining
- 5.6.3. Residential Building
- 5.6.4. Metal Mining
- 5.6.5. Misc
5.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 5.7.1. Diesel-powered
- 5.7.2. Electric-powered
- 5.7.3. Hybrid

6. Europe Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 6.3.1. By Country
- 6.3.2. By Product Type
- 6.3.3. By Application
- 6.3.4. By Application
6.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. T rkiye
- 6.4.8. Rest of Europe
6.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 6.5.1. Loaders
- 6.5.2. Dozers
- 6.5.3. Excavators
- 6.5.4. Crushers
- 6.5.5. Drills
- 6.5.6. Misc
6.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 6.6.1. Infrastructure
- 6.6.2. Mineral Mining
- 6.6.3. Residential Building
- 6.6.4. Metal Mining
- 6.6.5. Misc
6.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 6.7.1. Diesel-powered
- 6.7.2. Electric-powered
- 6.7.3. Hybrid

7. East Asia Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Application
- 7.3.4. By Application
7.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
7.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 7.5.1. Loaders
- 7.5.2. Dozers
- 7.5.3. Excavators
- 7.5.4. Crushers
- 7.5.5. Drills
- 7.5.6. Misc
7.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 7.6.1. Infrastructure
- 7.6.2. Mineral Mining
- 7.6.3. Residential Building
- 7.6.4. Metal Mining
- 7.6.5. Misc
7.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 7.7.1. Diesel-powered
- 7.7.2. Electric-powered
- 7.7.3. Hybrid

8. South Asia & Oceania Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
- 8.3.4. By Application
8.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
8.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 8.5.1. Loaders
- 8.5.2. Dozers
- 8.5.3. Excavators
- 8.5.4. Crushers
- 8.5.5. Drills
- 8.5.6. Misc
8.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 8.6.1. Infrastructure
- 8.6.2. Mineral Mining
- 8.6.3. Residential Building
- 8.6.4. Metal Mining
- 8.6.5. Misc
8.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 8.7.1. Diesel-powered
- 8.7.2. Electric-powered
- 8.7.3. Hybrid

9. Latin America Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
- 9.3.4. By Application
9.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
9.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 9.5.1. Loaders
- 9.5.2. Dozers
- 9.5.3. Excavators
- 9.5.4. Crushers
- 9.5.5. Drills
- 9.5.6. Misc
9.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 9.6.1. Infrastructure
- 9.6.2. Mineral Mining
- 9.6.3. Residential Building
- 9.6.4. Metal Mining
- 9.6.5. Misc
9.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 9.7.1. Diesel-powered
- 9.7.2. Electric-powered
- 9.7.3. Hybrid

10. Middle East & Africa Construction and Mining Equipment Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Application
- 10.3.4. By Application
10.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
10.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Product Type, 2023 - 2030
- 10.5.1. Loaders
- 10.5.2. Dozers
- 10.5.3. Excavators
- 10.5.4. Crushers
- 10.5.5. Drills
- 10.5.6. Misc
10.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Application, 2023 - 2030
- 10.6.1. Infrastructure
- 10.6.2. Mineral Mining
- 10.6.3. Residential Building
- 10.6.4. Metal Mining
- 10.6.5. Misc
10.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By Power Source, 2023 - 2030
- 10.7.1. Diesel-powered
- 10.7.2. Electric-powered
- 10.7.3. Hybrid

11. Competition Landscape

11.1. Market Share Analysis, 2022
11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Dozers
- 11.2.3. Apparent Product Capacity
11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. Caterpillar Inc.
  - 11.3.1.1. Overview
  - 11.3.1.2. Segments and Product
  - 11.3.1.3. Key Financials
  - 11.3.1.4. Market Developments
  - 11.3.1.5. Market Strategy
- 11.3.2. Komatsu Ltd.
  - 11.3.2.1. Overview
  - 11.3.2.2. Segments and Product
  - 11.3.2.3. Key Financials
  - 11.3.2.4. Market Developments
  - 11.3.2.5. Market Strategy
- 11.3.3. Hitachi Construction Machinery Co., Ltd.
  - 11.3.3.1. Overview
  - 11.3.3.2. Segments and Product
  - 11.3.3.3. Key Financials
  - 11.3.3.4. Market Developments
  - 11.3.3.5. Market Strategy
- 11.3.4. Volvo Construction Equipment
  - 11.3.4.1. Overview
  - 11.3.4.2. Segments and Product
  - 11.3.4.3. Key Financials
  - 11.3.4.4. Market Developments
  - 11.3.4.5. Market Strategy
- 11.3.5. Liebherr Group
  - 11.3.5.1. Overview
  - 11.3.5.2. Segments and Product
  - 11.3.5.3. Key Financials
  - 11.3.5.4. Market Developments
  - 11.3.5.5. Market Strategy
- 11.3.6. Sandvik AB
  - 11.3.6.1. Overview
  - 11.3.6.2. Segments and Product
  - 11.3.6.3. Key Financials
  - 11.3.6.4. Market Developments
  - 11.3.6.5. Market Strategy
- 11.3.7. Terex Corporation
  - 11.3.7.1. Overview
  - 11.3.7.2. Segments and Product
  - 11.3.7.3. Key Financials
  - 11.3.7.4. Market Developments
  - 11.3.7.5. Market Strategy
- 11.3.8. SANY Group
  - 11.3.8.1. Overview
  - 11.3.8.2. Segments and Product
  - 11.3.8.3. Key Financials
  - 11.3.8.4. Market Developments
  - 11.3.8.5. Market Strategy
- 11.3.9. Doosan Infracore Co., Ltd.
  - 11.3.9.1. Overview
  - 11.3.9.2. Segments and Product
  - 11.3.9.3. Key Financials
  - 11.3.9.4. Market Developments
  - 11.3.9.5. Market Strategy
- 11.3.10. XCMG Group
  - 11.3.10.1. Overview
  - 11.3.10.2. Segments and Product
  - 11.3.10.3. Key Financials
  - 11.3.10.4. Market Developments
  - 11.3.10.5. Market Strategy

12. Appendix

12.1. Research Methodology
12.2. Research Assumptions
12.3. Acronyms and Abbreviations