Arizton Publishes Latest Research on the Construction Equipment in U.S. Construction Equipment Market, Canada Construction Equipment Market, U.K. Construction Equipment Market, and South Africa Construction Equipment Market.
Report Summary
U.S. Construction Equipment Sales Volume (2029): 486,888 Units
Canada Construction Equipment Sales Volume (2029): 97,274 Units
UK Construction Equipment Sales Volume (2029): 65,010 Units
South Africa Construction Equipment Sales Volume (2029): 9,796 Units
The construction equipment sales in the U.S., Canada, U.K., and South Africa are set to experience significant growth due to substantial government investments in infrastructure projects. In the U.S., continued funding from the government’s Investing in America agenda, particularly under the Bipartisan Infrastructure Law, is expected to boost demand for construction equipment, especially for port, railway, and roadway projects. Canada’s market will benefit from investments in highway, bridge, and airport infrastructure, while the U.K. focuses on expanding its ports, roads, and rail systems as part of its National Infrastructure and Construction Pipeline. South Africa’s market is growing due to investments in both public infrastructure and the mining and renewable energy sectors, with major projects like the Lanseria Smart Mega City and expansions in the energy sector driving demand for earthmoving equipment and other construction machinery. Overall, infrastructure development and government funding in these regions are key drivers of growth in the construction equipment market.
Construction Equipment Sales in U.S. to Hit 486,888 Units By 2029
The U.S. construction equipment market is growing at a CAGR of 4.05% during the forecast period.
In 2023, earthmoving equipment, particularly excavators, dominated the U.S. construction equipment market due to rising investments in housing, port expansion, and public infrastructure projects. Key developments in the market include Kobelco Construction Machinery’s launch of its G-4 series hydraulic crawler cranes, which offer various lifting capacities. Additionally, the Terex CTT 292-12 flat-top tower crane, known for its robust features like a 12-metric-ton capacity and advanced telematics, is gaining attention for its precision and operator comfort. The Jaso J390 low-top crane also stands out for its modular design and 24-metric-ton lifting capacity. Meanwhile, Hangcha’s American subsidiary, HC Forklift America, introduced the XE Series electric lithium-ion pneumatic forklifts, offering a range of lifting capacities and catering to outdoor applications traditionally suited for internal combustion forklifts. These innovations highlight the growing demand for advanced, efficient, and high-capacity construction equipment in the U.S. market.
Vendor Landscape
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Construction Equipment Sales in Canada to Hit 97,274 Units By 2029
The Canada construction equipment market is growing at a CAGR of 4.27% during the forecast period.
In 2023, earthmoving equipment, particularly excavators, held the largest market share in Canada’s construction equipment sector, driven by increasing investments in housing, port expansion, and public infrastructure projects. The residential and commercial construction boom, especially in urban areas, has fueled demand for equipment like forklifts, aerial work platforms, and concrete mixers. However, rising interest rates and higher commodity prices may present challenges to market growth. Government initiatives, including allocating 5% of GDP annually to infrastructure development, are expected to open opportunities in transportation, energy, and water sectors. The growing population and expanding economy are further boosting the demand for new housing and commercial spaces. Additionally, investments in transportation infrastructure and the rise of electric vehicle plants, like the new USD 4 billion battery plant in Ontario, are creating significant demand for excavation equipment. Overall, the market is set to continue growing, driven by infrastructure and urban development projects.
Caterpillar, Hitachi Construction Machinery, Volvo CE, SANY, XCMG, and Komatsu are the leaders in the Canada construction equipment market. These companies have strong market share and offer diverse sets of equipment.
The Canada construction equipment market is highly competitive, characterized by a mix of local and international players. Major companies such as Wolff Group Construction Equipment Canada, Frontline Machinery Canada, and RockZone Americas Canada are key players in the market. These companies offer a wide range of construction equipment, including excavators, loaders, and cranes, catering to various segments like residential, commercial, and infrastructure development. Evolution Mechanical Ltd. is another significant player known for its expertise in providing heavy equipment solutions.
In terms of technology and innovation, companies are increasingly focusing on offering advanced features such as GPS tracking, telematics, and automation to enhance the efficiency and productivity of construction projects. Furthermore, the Canada construction equipment market is witnessing a growing trend towards sustainability, with companies developing eco-friendly equipment and promoting sustainable construction practices.
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UK Construction Equipment Market Sales to Hit 65,010 Units by 2029
The U.K. construction equipment market is growing at a CAGR of 2.15% during the forecast period.
In 2023, earthmoving equipment, particularly excavators, dominated the U.K. construction equipment market, driven by rising investments in housing, port expansion, and public infrastructure projects. Hydraulic excavators, including midi, full-size, and mini excavators, are the most widely produced equipment globally, with JCB in Staffordshire leading production in the U.K. Despite strong production, the market experienced a nearly 9% decrease in sales, with the first half of the year performing better than the second. The private housebuilding sector saw significant declines, while the infrastructure sector remained stable, supported by major projects like HS2 and Hinkley Point C. Sales are expected to drop by up to 10% in 2024, as demand is impacted by reduced housebuilding activity and lower requirements from infrastructure projects.
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South Africa Construction Equipment Market Sales to Hit 9,796 Units by 2029
The South Africa construction equipment market is growing at a CAGR of 4.15% during the projected period.
In 2022, the earthmoving equipment segment, particularly excavators, held the largest market share in South Africa’s construction equipment market. The demand for excavators is expected to rise due to increased government investments in residential buildings, roads, and railways. Major infrastructure projects like the N2 and N3 highway upgrades, valued at USD 1.63 billion, and the R573 Moloto Rehabilitation Project, set for completion in 2025, will further boost demand for construction machinery. Additionally, the Kusile Coal Power Plant, one of the largest coal-fired plants, and the development of a green ammonia plant by Hive Hydrogen and Afrox are set to stimulate growth. Other significant projects include the Salvokop Mixed-Use Precinct, valued at USD 1.04 billion, and e-waste management initiatives in Gauteng. The construction of the Harbor Arch towers in Cape Town is expected to drive sales of aerial platforms. South Africa continues to attract investment from countries like the UK, Germany, the US, and China, particularly in mining, manufacturing, and financial sectors, further boosting the construction equipment market.
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