Asia-Pacific Construction Equipment Market Size (2024 - 2029)

Asia-Pacific Construction Equipment Market Analysis

The Asia-Pacific Construction Equipment Market was valued at USD 116.07 billion in 2021 and is expected to reach USD 200.05 billion by 2027, registering a CAGR of 9.50% during the forecast period (2022-2027).

The Asia-Pacific Construction Equipment Market registered a steep fall during Covid 19 pandemic in 2020 due to manufacturing shutdowns, lockdowns, and trade restrictions during the COVID-19 Furthermore, the slowing down of the construction sector and lack of labor significantly impacted the market. As construction and infrastructure companies have resumed operations due to steadily rising construction activities across major countries by the first half of 2021, the market regained its momentum. 

Over the long term, increasing investments in production capacity by major industry players, massive government spending on infrastructure, electrification of the equipment, and growing urbanization as well as rising demand for construction equipment like excavators, backhoe loaders, and road machinery is creating demand in the automotive and transportation industry with a surge in sales of construction equipment.

Key players in the market are expanding their production capacity and launching new products to cater to the increased demand for construction equipment. For instance,In August 2022 Sany Heavy Industry started operations at their first manufacturing facility in Indonesia with the rollout of locally produced SY315CKD excavator. The factory is built in 100000 square meter area with an investment of USD 30 million.In May 2022, JCB launched 19C-1E India's first fully electric excavator at Excon 2022.

China expected to stand as the largest market followed by India, South Korea, and Japan over the forecast period due to the presence of large construction equipmnet OEMs, huge infratsructure spaending by the government , growing urbanisation and many global companies have joint ventures with the local players to manufacture construction equipment in China.

Asia-Pacific Construction Equipment Industry Segmentation

Construction equipment is defined as any type of equipment used for the execution, completion, erection, operation, or maintenance of any construction project or work. Construction equipment is also used in earthmoving works during the construction of roads, bridges, and dams. Some types of construction equipment like excavators and wheel loaders are also used in mining.

The Asia Pacific Construction Equipment Market has been segmented by machinery type, drive type, and country. By Machinery type, the market is segmented into Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader, and Others. By Drive type, the market is segmented into IC Engine and Electric & Hybrid. By Country, the market is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific. For each segment, market sizing and forecast have been done on basis of value (USD billion).