Report Overview

The United States construction equipment market is flourishing at a high rate owing to the increasing construction activities for infrastructural development owing to government and private investment along with rising demand for residential facilities.

United States Construction Equipment Market- Industry Trends & Forecast Report 2028

The United States construction equipment market is anticipated to growing at the CAGR of 6.00% in the forecast period. The increasing construction activities for infrastructural development owing to government and private investment is significantly propelling the demand for construction equipment in this region. Furthermore, rising demand for residential facilities is also emerging as a major factor fueling the United States construction equipment market growth.

Construction Equipment - Overview

Construction equipment refers to the machinery used in construction projects, and it is frequently used in earthwork operations. Excavators, bulldozers, loaders, cranes, and dump trucks are just a few examples of construction gear that may be employed for a variety of tasks. Construction equipment is frequently painted yellow to make it easy to spot, especially in adverse weather such as heavy rain or fog.

United States Construction Equipment Market Forecast and Trends

Growth Drivers

Growing Establishments Of Manufacturing Plants

United States have high concentration of leading manufacturers, including consumer goods and automobiles. However, due to cheaper production costs, the manufacturing and assembly of these items is primarily outsourced to developing nations. However, in order to fulfil increased local demand, businesses are rapidly moving or creating new production operations in the nation. As a result, construction activity for industrial units and plants is expected to increase, boosting total market growth.

Rising Demand For Residential Facility

The demand for homes is increasing significantly in the United States due to increasing disposable income along with easy availability of credits and home loans. However, a huge shortage of homes has been registered in US, according to Counselors of Real Estate. Therefore, the contractors and other players in the real estate industry is investing in the construction of new homes, which is anticipated to boost the demand for construction equipment in the forecast period, propelling the growth of the overall market.

Restraints

High Cost Of Construction Machinery

The high cost of construction equipment is a major impediment to the growth of the United States construction equipment market. For instance, the typical cost of a bulldozer, which is widely employed in construction, ranges from USD 30,000 to USD 200,000 and above. Because of the high cost, contractors choose to lease construction machines or buy used machinery rather than acquire new ones, stifling industry expansion.

Impact of COVID-19 on United States Construction Equipment Market

The United States construction equipment market was among the worst affected sectors post the COVID-19 pandemic outbreak. The entire construction operations were completely halted owing to the increasing burden of the COVID-19 affected rates along with implementation of social distancing norms. Furthermore, the manufacturing of construction equipment itself were obstructed during the lockdown period, due to which the manufacturers had to incur huge loses during this period. However, the market is estimated to register steady growth post the lifting of the lockdown in the country.

United States Construction Equipment Market - By Equipment Type

Based on equipment type, the United States construction equipment market is segmented into articulated dump truck, asphalt finisher, backhoe loader, crawler dozer, crawler excavator, crawler loader, mini excavator, motor grader, motor scraper, road roller, rigid dump truck, RTLT masted, pick and carry cranes, compactors, and others. The wheeled loader has the majority of the market. The fact that this sort of equipment is extensively utilised in the loading and unloading of bulk goods is fueling its market expansion.

United States Construction Equipment Market - By Equipment Category

Based on equipment category, the United States construction equipment market is segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, and other categories. The earthmoving equipment sector holds the greatest proportion of the market. Excavators, loaders, and motor graders are some of the most commonly utilised earthmovers. These types of equipment serve as the primary source of motion, propelling the market forward.

United States Construction Equipment Market - By Power Output

Based on power output, the United States construction equipment market is segmented into <100 HP, 100–200 HP, 201–400 HP, and >400 HP. The 100-200 HP segment accounts for the largest market share. Manufacturers of construction equipment with this power output can enhance machine capabilities while downsizing the engine to a smaller displacement. This lowers maintenance expenses while also increasing fuel economy and improving component layout.

Competitive Landscape

The leading market players of the United States construction equipment market are Kobelco Construction Machinery, Komatsu Ltd., Terex Corporation, Hyundai Heavy Industries, SANY Group, Caterpillar Inc., Hitachi Construction Machinery, John Deere, Volvo Construction Equipment, and other prominent players.

The United States construction equipment market is highly consolidated and concentration among the established multinational corporations. The companies constantly launch new products with advancements and innovations. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

• In March 2022, Alta Equipment Group Inc., material handling and construction equipment company, announced to have assigned the Arizona sales and service territory for Nikola Corporation, an American manufacturer of heavy-duty zero-emission vehicles.

Scope of the Report

By Equipment Type

• Articulated Dump Truck
• Asphalt Finisher
• Backhoe Loader
• Crawler Dozer
• Crawler Excavator
• Crawler Loader
• Mini Excavator
• Motor Grader
• Motor Scraper
• Road Roller
• Rigid Dump Truck
• RTLT Masted
• Pick And Carry Cranes
• Compactors
• Others

By Equipment Category

• Earthmoving Equipment
• Material Handling Equipment
• Heavy Construction Vehicles
• Other Categories

By Propulsion Type

• Diesel
• CNG/LNG/RNG

By Application

• Infrastructure
• Commercial
• Residential

By Power Output

• <100 HP
• 100–200 HP
• 201–400 HP
• >400 HP