Global Construction and Mining Equipment
Market Report
2024
the global construction and mining equipment market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global construction and mining equipment market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Construction and Mining Equipment Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.2% |
North America Construction and Mining Equipment Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.4% |
Europe Construction and Mining Equipment Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.7% |
Asia Pacific Construction and Mining Equipment Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.2% |
South America Construction and Mining Equipment Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.6% |
Middle East and Africa Construction and Mining Equipment Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.9% |
Market Split by Product Type |
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Market Split by Application |
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Market Split by Market Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Construction and Mining Equipment Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Specialized machinery made for demanding duties in mining and building activities is referred to as construction and mining equipment. These equipment categories cover a broad spectrum of machinery, such as loaders, crushers, bulldozers, excavators, and drilling equipment. In hardworking environments, the purpose of construction and mining equipment is to increase productivity, efficiency, and safety. Strong infrastructural development, rising mineral demand, and technical breakthroughs are some of the reasons driving the market for construction and mining equipment. Additionally, infrastructure development, particularly in developing nations, fuels the need for construction and mining equipment. Furthermore, the mining industry's drive for automation and operational efficiency encourages the use of cutting-edge mining machinery. The creation of environmentally friendly machinery and the incorporation of technologies like loT and Al to improve machinery performance and safety present opportunities. In the upcoming years, the construction and mining equipment market is expected to grow and change as the industry welcomes innovation and addresses environmental issues.
The market for construction and mining equipment is being driven by the growth of manufacturing and distribution centers for these products. As the demand for construction and mining equipment grows worldwide, suppliers in the market are working to enhance their manufacturing capacity. A vendor can be more effectively positioned to meet the demands of end users worldwide by increasing their manufacturing capacity. On the other hand, companies that are involved in the global market for construction and mining equipment would rather offer their clients quick services and increase their production capacity in order to make it easier for them to maintain and repair their equipment. Eventually, this characteristic can set them apart from their rivals, enabling them to expand their revenue more rapidly. Therefore, during the course of the forecast period, the expansion of production and distribution facilities by different market players is anticipated to drive the growth of the global market for construction and mining equipment.
Within the construction and mining equipment sector, one of the main trends is the digitalization and automation of the equipment. Companies are implementing technology such as robotics, drones, and telematics in an effort to increase production and efficiency. This is leading to new trends in the global markets for construction and mining equipment, such as the emergence of digitalization and automation. Through such digitalization and automation, telematics monitoring of construction and mining equipment is made possible, enabling real-time monitoring of the equipment's performance, fuel consumption, and maintenance needs. In addition, decision-makers and planners utilize drones to scan, map, and inspect mining and building sites, providing them the exact information they need to complete their tasks. Additionally, robots are being integrated into construction equipment to carry out operations like welding, pouring concrete, and laying bricks. This enhances accuracy while decreasing the amount of labor-intensive work that needs to be done and employees needed. These solutions facilitate predictive maintenance, enhancing project deadlines and cutting costs by decreasing equipment downtime and optimizing operations. The global market for construction and mining equipment will develop at a faster rate over the forecast period due to rising automation and digitization of equipment.
The market for construction and mining equipment is severely constrained by the strict laws governing noise levels, emissions, and safety requirements. The makers of construction and mining equipment are suffering because of the tight regulations on emissions, noise levels, and safety requirements for this equipment. Moreover, vendors must invest significant funds in R&D and cutting-edge technology in order to create construction and mining equipment that conforms with all applicable standards. This could have a detrimental effect on the cost and availability of construction and mining equipment globally. In addition, the maker of construction or mining equipment must incorporate sound reduction technologies, operator security features, and extra safety measures in order to comply with noise emission rules and safety standards. These features and technologies may require additional research and development work and funding, which could impact the final cost and accessibility of construction and mining equipment to end customers. Therefore, throughout the projected period, these factors will have a negative impact on the growth of the global market for construction and mining equipment.
The COVID-19 pandemic presented both new prospects and challenges for the construction and mining equipment industry. Following the pandemic, a number of mining operators encountered difficulties obtaining essential equipment as a result of supply chain interruptions and the skyrocketing cost of raw materials, which led to an increase in product pricing. Additionally, the severe lockdowns enforced by economies across the globe resulted in the temporary suspension of several construction and mining projects, which had a detrimental impact on the demand for construction and mining equipment. Nonetheless, the construction and mining industries prospered as multiple governments attempted to relax the lockdown laws. Furthermore, Latin America resumed mining after designating it as a vital industry.
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With numerous international and local companies involved, the market for construction and mining equipment is quite competitive. To acquire a competitive edge, major firms concentrate on diverse product offerings, technical innovations, and broad distribution channels. Players in the business frequently use strategic alliances and acquisitions to bolster their positions in the industry.
Top Companies Market Share in Construction and Mining Equipment Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue. The main factors propelling the market's expansion in North America are growing mining and building activities, a rise in the usage of state-of-the-art machinery, and government initiatives. Furthermore, during the projected period, it is expected that the demand for these items would be driven by the transition from conventional underground mining to advanced, economically viable open-pit mining. In addition, the regional market participants employ many market tactics, including mergers, acquisitions, partnerships, and strategic alliances, in order to sustain their competitive advantage.
Asia Pacific is the fastest-growing category. The market for construction and mining equipment in Asia-Pacific will expand as a result of rising construction activity in developing nations like China and India. The market for construction and mining equipment in Asia-Pacific is anticipated to expand gradually over the projected period due to the rising need for new residential and commercial infrastructure to accommodate the region's expanding urban population. However, during the course of the projection period, emerging economies are anticipated to see a sharp increase in both commercial and residential construction activity.
The current report Scope analyzes Construction and Mining Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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According to Cognitive Market Research, the global Construction and Mining Equipment market size was estimated at USD XX Million out of which North America held the major market of more than 38% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030 fueled by continued development in technology, the growing need for minerals, and ongoing infrastructural initiatives. It is anticipated that the market will expand steadily, emphasizing the use of cutting-edge technologies and sustainable mining techniques. Additionally, for businesses to succeed in this cutthroat environment, innovation, strategic alliances, and customer-focused strategies must be given top priority. In order to succeed in the North American construction and mining equipment industry, companies must prioritize sustainability, conduct ongoing research and development, and have the flexibility to adjust to changing market conditions. Moreover, rising urbanization, infrastructure development projects, equipment technical breakthroughs, and the demand for sustainable and energy-efficient construction methods are some of the factors that could propel the expansion of the residential building construction and mining equipment markets.
According to Cognitive Market Research, with a market value of USD XX million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030, Europe accounted for a share of over 30% of the global market size of USD XX million. The need for sustainable practices, the growth of infrastructure projects, technology improvements, and government programs supporting mining and building are some of the major contributing causes. Furthermore, these sectors are placing an increasing emphasis on efficiency and safety, which encourages the use of cutting-edge machinery and expands the market. In addition, as Europe becomes more urbanized, there is a greater need for construction equipment and a growing mining industry due to the requirement for raw materials. Moreover, urbanization increasing demand for construction, government investments in infrastructure projects, and technical breakthroughs improving equipment productivity and efficiency are the main drivers for the infrastructure sector in the construction and mining equipment market.
According to Cognitive Market Research, the global Construction and Mining Equipment market size was estimated at USD XX Million out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030 because to the growing need for metals and minerals, the expansion of infrastructure, and advances in technology. The market offers a wealth of potential for industry participants and stakeholders, despite obstacles such costly initial investment, environmental laws, and safety concerns. Additionally, the market's future appears bright due to the implementation of cutting-edge technology, environmentally friendly mining methods, and digital transformation. To maintain competitiveness and take advantage of the changing market dynamics, cooperation, innovation, and calculated investments will be essential. In addition, during the projection year, the new sale segment is anticipated to possess the greatest portion of the Asia Pacific construction and mining equipment market. The increase in manufacturers offering equipment directly to end users, which facilitates cost savings, improved communication, and customized solutions, may be the cause of the rise.
According to Cognitive Market Research, the global Construction and mining equipment market size was estimated at USD XX Million out of which Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. The Latin American construction and mining equipment market is expected to grow steadily due to rising activity in these sectors as well as improved financial circumstances. The development of this sector is also aided by elements including government spending, urbanization, and resource exploration. Market expansion is further fueled by an increasing emphasis on technology adoption in these sectors. Furthermore, manufacturers have been compelled to innovate due to the growing demand for sophisticated equipment that boasts improved efficiency, safety features, and environmental sustainability. In addition, the rising need for raw materials across a range of industries, including manufacturing and infrastructure, has led to a notable growth in the mineral mining segment of the Latin American construction and mining equipment market. The region's abundant mineral deposits and growing building projects are two factors that support the sector's upward trend.
According to Cognitive Market Research, the global Construction and Mining Equipment market size was estimated at USD XX Million out of which Middle East and Africa held the major market of more than 2% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. The need for construction and mining equipment will be driven by the region's emphasis on urbanization, infrastructure development, and sustainable construction and mining techniques. Additionally, future developments in technology, including automation, digitization, and electric-powered machinery, will influence the market. As businesses try to obtain a competitive edge, mergers and acquisitions, strategic alliances, and market consolidation are probably going to occur. Moreover, in 2023, the Middle East and Africa market was headed by the excavators category. The accessibility of excavators to individuals, contractors, and construction organizations is enhanced by the availability of multiple financing options, including leasing and renting services. The use and purchase of excavators is encouraged via accessible financing options.
Global Construction and Mining Equipment Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Construction and Mining Equipment Industry growth. Construction and Mining Equipment market has been segmented with the help of its Product Type, Application Market Type, and others. Construction and Mining Equipment market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, excavators category held the major market share over the forecast period. Due to advancements in technology, automated excavators of today are more productive than those of the past. In the event of a malfunction or operational issue, they instantly notify service centers, cutting down on information flow costs and times.
Loaders is the fastest-growing category over the forecast period. Because they move materials from one place to another and clear debris from mining sites, loaders are crucial. It is also anticipated that the construction of new and existing production facilities by businesses will increase demand for loaders.
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According to Cognitive Market Research, metal mining category hold a prominent market share. The metal mining category is anticipated to expand as a prominent application category due to increased resource exploration and strong demand for precious metals like gold, copper, iron, and silver. In order to efficiently optimize production, more advanced exploitation techniques will also surface.
Infrastructure is the fastest-growing category over the forecast period. Public infrastructure that is supported by governments makes up the infrastructure section. Over the course of the forecast period, the expansion of public infrastructure worldwide is anticipated to fuel growth in the global market for construction and mining equipment.
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According to Cognitive Market Research, aftermarket hold a prominent market share because there is a greater need for maintenance, technology upgrades, and replacement parts. The requirement for aftermarket assistance increases with the age of existing machinery, which presents potential for businesses offering these solutions.
New sales is the fastest-growing category over the forecast period ascribed to new developments in automation and electrification, as well as a rise in the need for environmentally friendly solutions. Equipment designed for particular uses, such intelligent and environmentally friendly gear, may experience rapid expansion as industries change.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
Specialties: Industry research, Company analysis, Location Strategy, Tech Research, Change Management, Process Improvement, Peer Group Benchmarking, Startup Ecosystem, Crypto Research, COVID19 Impact Analysis, etc.
The global construction and mining equipment market will expand significantly by 7.20% CAGR between 2023 and 2030.
North America held the major market of more than 38% of the global revenue and will grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030
Europe Construction and Mining Equipment projected to expand at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030, Europe accounted for a share of over 30% of the global
Authors say's,
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Product Type | Loaders, Dozers, Excavators, Crushing, Pulverizing & Screening Equipment, Others |
Application | Infrastructure, Mineral Mining, Residential Building, Metal Mining, Others |
Market Type | New Sales, Aftermarket |
List of Competitors | Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Volvo Group, Liebherr-International AG, Terex Corporation , Joy Global Inc., Zoomlion Heavy Industry Science & Technology Development Co., Atlas Copco AB, Komatsu Ltd, CNH Industrial N.V. |
This chapter will help you gain GLOBAL Market Analysis of Construction and Mining Equipment. Further deep in this chapter, you will be able to review Global Construction and Mining Equipment Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Market Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Construction and Mining Equipment market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Loaders have a significant impact on Construction and Mining Equipment market? |
What are the key factors affecting the Loaders and Dozers of Construction and Mining Equipment Market? |
What is the CAGR/Growth Rate of Infrastructure during the forecast period? |
By type, which segment accounted for largest share of the global Construction and Mining Equipment Market? |
Which region is expected to dominate the global Construction and Mining Equipment Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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