1	INTRODUCTION	53
1.1	STUDY OBJECTIVES	53
1.2	MARKET DEFINITION	53
1.2.1	INCLUSIONS AND EXCLUSIONS	53
1.3	MARKET SCOPE	54
FIGURE 1	HEAVY CONSTRUCTION EQUIPMENT MARKET SEGMENTATION	54
1.3.1	REGIONS COVERED	54
1.3.2	YEARS CONSIDERED	55
1.4	CURRENCY CONSIDERED	55
1.5	UNITS CONSIDERED	55
1.6	LIMITATIONS	55
1.7	STAKEHOLDERS	56
1.8	SUMMARY OF CHANGES	56
2	RESEARCH METHODOLOGY	57
2.1	RESEARCH DATA	57
FIGURE 2	HEAVY CONSTRUCTION EQUIPMENT MARKET: RESEARCH DESIGN	57
2.1.1	SECONDARY DATA	58
2.1.1.1	Key data from secondary sources	58
2.1.2	PRIMARY DATA	58
2.1.2.1	Key data from primary sources	59
TABLE 1	PRIMARY INTERVIEWS – LEADING HEAVY CONSTRUCTION EQUIPMENT MANUFACTURERS	59
2.1.2.2	Breakdown of primary interviews	60
2.1.2.3	Key industry insights	60
2.2	BASE NUMBER CALCULATION	61
2.2.1	APPROACH 1: DEMAND-SIDE ANALYSIS	61
2.2.2	APPROACH 2: SUPPLY-SIDE ANALYSIS	61
2.3	FORECAST NUMBER CALCULATION	62
2.3.1	SUPPLY SIDE	62
2.3.2	DEMAND SIDE	62
2.4	MARKET SIZE ESTIMATION	62
2.4.1	BOTTOM-UP APPROACH	62
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	62
2.4.2	TOP-DOWN APPROACH	63
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	63
2.5	DATA TRIANGULATION	64
FIGURE 5	HEAVY CONSTRUCTION EQUIPMENT MARKET: DATA TRIANGULATION	64
2.6	RECESSION IMPACT	64
2.7	FACTOR ANALYSIS	65
2.8	RESEARCH ASSUMPTIONS	65
2.9	RESEARCH LIMITATIONS AND RISKS	66
3	EXECUTIVE SUMMARY	67
FIGURE 6	EARTHMOVING EQUIPMENT SEGMENT DOMINATED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	67
FIGURE 7	MATERIAL HANDLING WAS LARGEST SEGMENT IN HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	68
FIGURE 8	DIESEL PROPULSION SEGMENT DOMINATED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	68
FIGURE 9	101-200 HP POWER OUTPUT SEGMENT ACCOUNTED FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	69
FIGURE 10	<5 L ENGINE CAPACITY SEGMENT LED HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	69
FIGURE 11	MINING END-USE INDUSTRY WAS LARGEST SEGMENT IN HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	70
FIGURE 12	ASIA PACIFIC WAS LARGEST HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	70
4	PREMIUM INSIGHTS	72
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEAVY CONSTRUCTION EQUIPMENT MARKET	72
FIGURE 13	INFRASTRUCTURE SEGMENT TO DRIVE MARKET	72
4.2	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY MACHINERY TYPE, 2022	72
FIGURE 14	EARTHMOVING EQUIPMENT SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2022	72
4.3	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2022	73
FIGURE 15	MATERIAL HANDLING WAS LARGEST SEGMENT IN 2022	73
4.4	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE, 2022	73
FIGURE 16	DIESEL PROPULSION SEGMENT DOMINATED MARKET IN 2022	73
4.5	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022	74
FIGURE 17	101-200 HP SEGMENT LED MARKET IN 2022	74
4.6	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY, 2022	74
FIGURE 18	<5 L SEGMENT DOMINATED MARKET IN 2022	74
4.7	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY, 2022	75
FIGURE 19	MINING SEGMENT LED MARKET IN 2022	75
4.8	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY KEY COUNTRIES	75
FIGURE 20	INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	75
5	MARKET OVERVIEW	76
5.1	INTRODUCTION	76
5.2	MARKET DYNAMICS	76
FIGURE 21	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN HEAVY CONSTRUCTION EQUIPMENT MARKET	76
5.2.1	DRIVERS	77
5.2.1.1	Increasing investments in construction and infrastructure sectors	77
TABLE 2	LIST OF INFRASTRUCTURE DEVELOPMENT PROJECTS	77
5.2.1.2	Rapid urbanization	78
5.2.1.3	Rising demand in emerging countries	78
5.2.1.4	Technological advancements and upgrades	78
5.2.1.5	Demand for sustainable solutions	79
TABLE 3	KEY ELECTRIC AND HYBRID CONSTRUCTION EQUIPMENT MODELS	79
5.2.2	RESTRAINTS	82
5.2.2.1	Stringent government regulations	82
5.2.2.2	Socio-economic effects of heavy construction activities	82
5.2.3	OPPORTUNITIES	82
5.2.3.1	Renting or leasing equipment	82
5.2.3.2	Digitization of services	83
TABLE 4	HEAVY CONSTRUCTION EQUIPMENT MARKET: DIGITAL SERVICES BY OEMS	83
5.2.3.3	Demand for autonomous heavy construction equipment	83
5.2.4	CHALLENGES	84
5.2.4.1	High cost of equipment	84
5.2.4.2	Lack of skilled labor force and maintenance & repair-related issues	84
5.2.4.3	Development of alternative optimized solutions	84
5.3	PORTER'S FIVE FORCES ANALYSIS	85
FIGURE 22	PORTER'S FIVE FORCES ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET	85
5.3.1	THREAT OF NEW ENTRANTS	85
5.3.2	THREAT OF SUBSTITUTES	86
5.3.3	BARGAINING POWER OF SUPPLIERS	86
5.3.4	BARGAINING POWER OF BUYERS	86
5.3.5	INTENSITY OF COMPETITIVE RIVALRY	87
TABLE 5	PORTER'S FIVE FORCES ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET	87
5.4	SUPPLY CHAIN ANALYSIS	87
TABLE 6	HEAVY CONSTRUCTION EQUIPMENT MARKET: SUPPLY CHAIN	88
5.5	PRICING ANALYSIS	88
5.5.1	AVERAGE SELLING PRICE BY END-USE INDUSTRY, BY KEY PLAYERS	88
FIGURE 23	AVERAGE SELLING PRICE FOR TOP THREE END-USE INDUSTRIES, BY KEY PLAYERS (USD MILLION/KG)	88
FIGURE 24	AVERAGE SELLING PRICE BY MACHINERY TYPE	89
FIGURE 25	AVERAGE SELLING PRICE BY END-USE INDUSTRY (USD MILLION/KG)	89
5.6	AVERAGE SELLING PRICE, BY REGION	89
TABLE 7	AVERAGE SELLING PRICE OF HEAVY CONSTRUCTION EQUIPMENT, BY REGION	89
5.7	KEY STAKEHOLDERS AND BUYING CRITERIA	90
5.7.1	KEY STAKEHOLDERS IN BUYING PROCESS	90
FIGURE 26	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE  END-USE INDUSTRIES	90
TABLE 8	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE  END-USE INDUSTRIES	90
5.7.2	BUYING CRITERIA	91
FIGURE 27	KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES	91
TABLE 9	KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES	91
5.8	TECHNOLOGY ANALYSIS	91
5.8.1	OVERVIEW	91
5.8.1.1	Autonomous heavy construction equipment	91
5.8.1.2	Connected technologies	92
5.8.1.3	Grade control system	92
5.9	KEY CONFERENCES AND EVENTS, 2023–2024	92
TABLE 10	HEAVY CONSTRUCTION EQUIPMENT MARKET: KEY CONFERENCES AND EVENTS, 2023–2024	92
5.10	GLOBAL REGULATORY FRAMEWORK AND ITS IMPACT ON HEAVY CONSTRUCTION EQUIPMENT MARKET	94
5.10.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	94
TABLE 11	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	94
TABLE 12	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	95
TABLE 13	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	96
TABLE 14	MIDDLE EAST: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	97
TABLE 15	REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS	98
5.10.2	REGULATORY ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET	98
5.11	ECOSYSTEM ANALYSIS	99
FIGURE 28	ECOSYSTEM ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET	99
5.12	VALUE CHAIN ANALYSIS	100
FIGURE 29	VALUE CHAIN ANALYSIS OF HEAVY CONSTRUCTION EQUIPMENT MARKET	100
5.13	TRADE ANALYSIS: KEY MARKETS FOR IMPORT/EXPORT	101
5.13.1	JAPAN	101
5.13.2	US	101
5.13.3	CHINA	101
5.14	CASE STUDIES	102
5.15	TRENDS IMPACTING CUSTOMER BUSINESS	103
5.16	PATENT ANALYSIS	103
5.16.1	METHODOLOGY	103
5.16.2	DOCUMENT TYPE	103
TABLE 16	HEAVY CONSTRUCTION EQUIPMENT MARKET: GLOBAL PATENTS	104
FIGURE 30	GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE	104
FIGURE 31	GLOBAL PATENT PUBLICATION TREND: 2012–2022	104
5.16.3	INSIGHTS	105
5.16.4	LEGAL STATUS OF PATENTS	105
FIGURE 32	HEAVY CONSTRUCTION EQUIPMENT MARKET: LEGAL STATUS OF PATENTS	105
5.16.5	JURISDICTION ANALYSIS	105
FIGURE 33	GLOBAL JURISDICTION ANALYSIS	106
5.16.6	TOP APPLICANTS’ ANALYSIS	106
FIGURE 34	VOLVO TRUCK CORP REGISTERED HIGHEST NUMBER OF PATENTS	106
5.16.7	LIST OF PATENTS	107
TABLE 17	LIST OF PATENTS	107
6	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE	108
6.1	INTRODUCTION	109
FIGURE 35	EARTHMOVING EQUIPMENT SEGMENT ACCOUNTED FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET	109
TABLE 18	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2018–2022 (USD MILLION)	109
TABLE 19	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS)	110
TABLE 20	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,  2023–2028 (USD MILLION)	110
TABLE 21	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS)	110
6.2	EARTHMOVING EQUIPMENT	111
6.2.1	INCREASED CONSTRUCTION AND MINING ACTIVITIES TO DRIVE GROWTH	111
FIGURE 36	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN EARTHMOVING EQUIPMENT MARKET	111
TABLE 22	EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	111
TABLE 23	EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	112
TABLE 24	EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	112
TABLE 25	EARTHMOVING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	112
6.2.2	EXCAVATORS	113
6.2.2.1	Crawler excavators	113
6.2.2.2	Mini excavators	113
6.2.2.3	Wheeled excavators	113
6.2.3	LOADERS	113
6.2.3.1	Wheeled loaders	113
6.2.3.2	Skid-steer loaders	113
6.2.4	DOZERS	113
6.2.5	MOTOR GRADERS	114
6.2.6	OTHERS	114
6.3	MATERIAL HANDLING EQUIPMENT	114
6.3.1	INCREASE IN INFRASTRUCTURE AND CONSTRUCTION ACTIVITIES TO DRIVE MARKET	114
FIGURE 37	ASIA PACIFIC TO LEAD MATERIAL HANDLING EQUIPMENT MARKET BY 2028	114
TABLE 26	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	115
TABLE 27	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	115
TABLE 28	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	115
TABLE 29	MATERIAL HANDLING HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	116
6.3.2	CRANES	116
6.3.3	TELESCOPIC HANDLERS	116
6.3.4	OTHERS	116
6.3.4.1	Conveyors	116
6.3.4.2	Forklifts	116
6.4	HEAVY CONSTRUCTION VEHICLES	117
6.4.1	GROWING USAGE IN INDUSTRIAL AND DEVELOPMENTAL PROJECTS TO DRIVE MARKET	117
FIGURE 38	ASIA PACIFIC TO BE LARGEST MARKET IN HEAVY CONSTRUCTION VEHICLES MARKET	117
TABLE 30	HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (USD MILLION)	117
TABLE 31	HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)	118
TABLE 32	HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (USD MILLION)	118
TABLE 33	HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)	118
6.5	OTHERS	119
FIGURE 39	ASIA PACIFIC TO BE LARGEST MARKET FOR OTHER HEAVY CONSTRUCTION EQUIPMENT	119
TABLE 34	OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	119
TABLE 35	OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	120
TABLE 36	OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	120
TABLE 37	OTHER HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	120
6.5.1	COMPACTORS & ROAD ROLLERS	121
6.5.2	PAVERS/ASPHALT FINISHERS	121
6.5.3	DRILLING/BORING MACHINES	121
7	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY PROPULSION TYPE	122
7.1	INTRODUCTION	123
FIGURE 40	DIESEL SEGMENT ACCOUNTED FOR MAJOR SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET IN 2022	123
TABLE 38	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2018–2022 (USD MILLION)	123
TABLE 39	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS)	123
TABLE 40	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,  2023–2028 (USD MILLION)	124
TABLE 41	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS)	124
7.2	DIESEL	124
7.2.1	INCREASED CONSTRUCTION AND MINING ACTIVITIES TO DRIVE GROWTH	124
FIGURE 41	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF DIESEL-POWERED HEAVY CONSTRUCTION EQUIPMENT MARKET	125
TABLE 42	DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	125
TABLE 43	DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	125
TABLE 44	DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	126
TABLE 45	DIESEL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	126
7.3	CNG/LNG/RNG	126
7.3.1	DEMAND FOR ALTERNATIVE FUEL TO DRIVE MARKET	126
FIGURE 42	ASIA PACIFIC TO LEAD CNG/LNG/RNG HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028	127
TABLE 46	CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	127
TABLE 47	CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	127
TABLE 48	CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	128
TABLE 49	CNG/LNG/RNG: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	128
7.4	ELECTRIC	128
7.4.1	GROWING USAGE IN INDUSTRIAL AND DEVELOPMENTAL PROJECTS TO DRIVE MARKET	128
FIGURE 43	ASIA PACIFIC TO BE LARGEST MARKET FOR ELECTRIC HEAVY CONSTRUCTION EQUIPMENT	129
TABLE 50	ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)	129
TABLE 51	ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)	129
TABLE 52	ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)	130
TABLE 53	ELECTRIC: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)	130
8	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY ENGINE CAPACITY	131
8.1	INTRODUCTION	132
FIGURE 44	<5 L SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HEAVY CONSTRUCTION EQUIPMENT MARKET	132
TABLE 54	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (USD MILLION)	132
TABLE 55	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2018–2022 (UNITS)	132
TABLE 56	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,  2023–2028 (USD MILLION)	133
TABLE 57	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS)	133
8.2	<5 L	133
8.2.1	DEMAND FOR COMPACT CONSTRUCTION EQUIPMENT TO DRIVE GROWTH	133
FIGURE 45	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN <5 L HEAVY CONSTRUCTION EQUIPMENT MARKET	134
TABLE 58	<5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	134
TABLE 59	<5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	134
TABLE 60	<5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	135
TABLE 61	<5 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	135
8.3	5-10 L	135
8.3.1	INCREASING APPLICATIONS TO DRIVE MARKET	135
FIGURE 46	ASIA PACIFIC TO LEAD 5-10 L HEAVY CONSTRUCTION EQUIPMENT MARKET  BY 2028	136
TABLE 62	5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	136
TABLE 63	5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	136
TABLE 64	5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	137
TABLE 65	5-10 L: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	137
8.4	>10 L	137
8.4.1	LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET	137
FIGURE 47	ASIA PACIFIC TO BE LARGEST MARKET IN >10 L HEAVY CONSTRUCTION EQUIPMENT MARKET	138
TABLE 66	>10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)	138
TABLE 67	>10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)	138
TABLE 68	>10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)	139
TABLE 69	>10 L: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)	139
9	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT	140
9.1	INTRODUCTION	141
FIGURE 48	101-200 HP SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028	141
TABLE 70	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2018–2022 (USD MILLION)	141
TABLE 71	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS)	142
TABLE 72	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,  2023–2028 (USD MILLION)	142
TABLE 73	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (UNITS)	142
9.2	<100 HP	142
9.2.1	ROAD MAINTENANCE AND REPAIR PROJECTS TO DRIVE SEGMENT	142
FIGURE 49	ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE IN <100 HP HEAVY CONSTRUCTION EQUIPMENT MARKET	143
TABLE 74	<100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	143
TABLE 75	<100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	143
TABLE 76	<100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	144
TABLE 77	<100 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	144
9.3	101-200 HP	144
9.3.1	LOW MAINTENANCE COST TO FAVOR MARKET GROWTH	144
FIGURE 50	ASIA PACIFIC TO LEAD 101-200 HP HEAVY CONSTRUCTION EQUIPMENT MARKET BY 2028	145
TABLE 78	101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	145
TABLE 79	101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	145
TABLE 80	101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	146
TABLE 81	101-200 HP: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	146
9.4	201-400 HP	146
9.4.1	LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET	146
FIGURE 51	ASIA PACIFIC TO BE LARGEST MARKET IN 201-400 HP HEAVY CONSTRUCTION EQUIPMENT MARKET	147
TABLE 82	201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)	147
TABLE 83	201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (UNITS)	147
TABLE 84	201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)	148
TABLE 85	201-400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (UNITS)	148
9.5	>400 HP	148
9.5.1	LARGE INFRASTRUCTURE PROJECTS TO DRIVE MARKET	148
FIGURE 52	ASIA PACIFIC TO BE LARGEST >400 HP HEAVY CONSTRUCTION EQUIPMENT MARKET	149
TABLE 86	>400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2018–2022 (USD MILLION)	149
TABLE 87	>400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2018–2022 (UNITS)	149
TABLE 88	>400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION,  2023–2028 (USD MILLION)	150
TABLE 89	>400 HP: HEAVY CONSTRUCTION VEHICLES MARKET, BY REGION, 2023–2028 (UNITS)	150
10	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION	151
10.1	INTRODUCTION	152
FIGURE 53	MATERIAL HANDLING SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET	152
TABLE 90	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2018–2022 (USD MILLION)	152
TABLE 91	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (UNITS)	153
TABLE 92	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION,  2023–2028 (USD MILLION)	153
TABLE 93	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS)	153
10.2	MATERIAL HANDLING	154
10.2.1	EXTENSIVE USE IN END-USE INDUSTRIES TO DRIVE MARKET	154
TABLE 94	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	154
TABLE 95	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	154
TABLE 96	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	154
TABLE 97	MATERIAL HANDLING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	155
10.3	TRANSPORTATION	155
10.3.1	INCREASING USE IN TRANSPORTATION OF BUILDING MATERIALS TO DRIVE MARKET	155
TABLE 98	TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	155
TABLE 99	TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	156
TABLE 100	TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	156
TABLE 101	TRANSPORTATION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	156
10.4	EXCAVATION & DEMOLITION	157
10.4.1	INCREASING DEMAND FOR LOW-FUEL CONSUMPTION EXCAVATORS TO DRIVE MARKET	157
TABLE 102	EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	157
TABLE 103	EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	157
TABLE 104	EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	158
TABLE 105	EXCAVATION & DEMOLITION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	158
10.5	HEAVY LIFTING	158
10.5.1	GROWING DEMAND FOR CRANES AND TELESCOPIC HANDLERS TO DRIVE MARKET	158
TABLE 106	HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	159
TABLE 107	HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	159
TABLE 108	HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	159
TABLE 109	HEAVY LIFTING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	160
10.6	TUNNELING	160
10.6.1	INVESTMENTS IN IMPROVING ROAD AND RAIL CONNECTIVITY TO DRIVE SEGMENT	160
TABLE 110	TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	160
TABLE 111	TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	161
TABLE 112	TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	161
TABLE 113	TUNNELING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	161
10.7	RECYCLING & WASTE MANAGEMENT	162
10.7.1	STRINGENT GOVERNMENT REGULATIONS TO HAMPER SEGMENT GROWTH	162
TABLE 114	RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2018–2022 (USD MILLION)	162
TABLE 115	RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2018–2022 (UNITS)	162
TABLE 116	RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2023–2028 (USD MILLION)	163
TABLE 117	RECYCLING & WASTE MANAGEMENT: HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY REGION, 2023–2028 (UNITS)	163
11	HEAVY CONSTRUCTION EQUIPMENT MARKET,  BY END-USE INDUSTRY	164
11.1	INTRODUCTION	165
FIGURE 54	MINING SEGMENT TO DOMINATE HEAVY CONSTRUCTION EQUIPMENT MARKET	165
TABLE 118	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)	165
TABLE 119	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2018–2022 (UNITS)	166
TABLE 120	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (USD MILLION)	166
TABLE 121	HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY,  2023–2028 (UNITS)	166
11.2	MINING	167
11.2.1	INCREASING DEMAND FOR MINERALS AND RARE EARTH METALS TO DRIVE MARKET	167
TABLE 122	MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	167
TABLE 123	MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	167
TABLE 124	MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	168
TABLE 125	MINING: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	168
11.3	INFRASTRUCTURE	168
11.3.1	GOVERNMENT INFRASTRUCTURE PROJECTS TO DRIVE MARKET	168
TABLE 126	INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (USD MILLION)	169
TABLE 127	INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2018–2022 (UNITS)	169
TABLE 128	INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (USD MILLION)	169
TABLE 129	INFRASTRUCTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION,  2023–2028 (UNITS)	170
11.4	BUILDING & CONSTRUCTION	170
11.4.1	COMMERCIAL DEVELOPMENTS IN EMERGING ECONOMIES TO DRIVE MARKET	170
TABLE 130	BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	170
TABLE 131	BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	171
TABLE 132	BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	171
TABLE 133	BUILDING & CONSTRUCTION: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	171
11.5	FORESTRY & AGRICULTURE	172
11.5.1	HIGH DEMAND FOR DOZERS TO DRIVE MARKET	172
TABLE 134	FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	172
TABLE 135	FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	172
TABLE 136	FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	172
TABLE 137	FORESTRY & AGRICULTURE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	173
11.6	OTHERS	173
TABLE 138	OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	173
TABLE 139	OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS)	173
TABLE 140	OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	174
TABLE 141	OTHER END-USE INDUSTRIES: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS)	174
12.1 INTRODUCTION 176
TABLE 142 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION) 176
TABLE 143 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2022 (UNITS) 176
TABLE 144 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION) 177
TABLE 145 HEAVY CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2023–2028 (UNITS) 177
12.2 NORTH AMERICA 177
FIGURE 55 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT 178
12.2.1 RECESSION IMPACT ON NORTH AMERICA 178
12.2.2 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE 179
TABLE 146 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION) 179
TABLE 147 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS) 180
TABLE 148 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE,2023–2028 (USD MILLION) 180
TABLE 149 NORTH AMERICA HEACY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS) 180
12.2.3 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE 181
TABLE 150 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION) 181
TABLE 151 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS) 181
TABLE 152 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE,2023–2028 (USD MILLION) 181
TABLE 153 NORTH AMERICA HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2023–2028 (UNITS) 181
12.2.4 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY 182
TABLE 154 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION) 182
TABLE 155 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS) 182
TABLE 156 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY,2023–2028 (USD MILLION) 182
TABLE 157 NORTH AMERICA HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS) 182
12.2.5 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT 183
TABLE 158 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION) 183
TABLE 159 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS) 183
TABLE 160 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT,2023–2028 (USD MILLION) 183
TABLE 161 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (UNITS) 184
12.2.6 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION 184
TABLE 162 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 184
TABLE 163 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 184
TABLE 164 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 185
TABLE 165 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS) 185
12.2.7 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY 185
TABLE 166 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 185
TABLE 167 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 186
TABLE 168 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 186
TABLE 169 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 186
12.2.8 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY 187
TABLE 170 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 187
TABLE 171 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS) 187
TABLE 172 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 187
TABLE 173 NORTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS) 187
12.2.8.1 US 188
12.2.8.1.1 Expansion of commercial construction sector to drive market 188
TABLE 174 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 188
TABLE 175 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 188
TABLE 176 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 189
TABLE 177 US: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 189
12.2.8.2 Canada 189
12.2.8.2.1 Upcoming mining and infrastructural projects to drive growth 189
TABLE 178 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 190
TABLE 179 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 190
TABLE 180 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 190
TABLE 181 CANADA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 191
12.2.8.3 Mexico 191
12.2.8.3.1 Increasing investments in construction and infrastructure sector to drive growth 191
TABLE 182 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 191
TABLE 183 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 192
TABLE 184 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 192
TABLE 185 MEXICO: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 192
12.3 EUROPE 193
FIGURE 56 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT 193
12.3.1 RECESSION IMPACT ON EUROPE 194
12.3.2 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE 194
TABLE 186 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION) 194
TABLE 187 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS) 194
TABLE 188 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY M
TABLE 206 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 200
TABLE 207 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 201
TABLE 208 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 201
TABLE 209 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 201
12.3.8 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY 202
TABLE 210 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 202
TABLE 211 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS) 202
TABLE 212 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 202
TABLE 213 EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS) 203
12.3.8.1 Germany 203
12.3.8.1.1 Increase in demand for compact construction equipment to drive market 203
TABLE 214 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 203
TABLE 215 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 204
TABLE 216 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 204
TABLE 217 GERMANY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 204
12.3.8.2 France 205
12.3.8.2.1 Rapid development of metropolitan areas to drive market 205
TABLE 218 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 205
TABLE 219 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 205
TABLE 220 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 206
TABLE 221 FRANCE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 206
12.3.8.3 UK 206
12.3.8.3.1 Improving residential construction projects to drive market 206
TABLE 222 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 207
TABLE 223 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 207
TABLE 224 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 207
TABLE 225 UK: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 208
12.3.8.4 Russia 208
12.3.8.4.1 Increasing demand for material handling equipment to drive market 208
TABLE 226 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 208
TABLE 227 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 209
TABLE 228 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 209
TABLE 229 RUSSIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 209
12.3.8.5 Rest of Europe 210
TABLE 230 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 210
TABLE 231 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 210
TABLE 232 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 210
TABLE 233 REST OF EUROPE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 211
12.4 ASIA PACIFIC 211
FIGURE 57 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET SNAPSHOT 212
12.4.1 RECESSION IMPACT ON ASIA PACIFIC 212
12.4.2 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE 213
TABLE 234 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION) 213
TABLE 235 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS) 213
TABLE 236 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION) 213
TABLE 237 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS) 214
12.4.3 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE 214
TABLE 238 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION) 214
TABLE 239 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS) 214
TABLE 240 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION) 215
TABLE 241 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS) 215
12.4.4 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY 215
TABLE 242 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION) 215
TABLE 243 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS) 215
TABLE 244 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION) 216
TABLE 245 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS) 216
12.4.5 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT 216
TABLE 246 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION) 216
TABLE 247 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS) 217
TABLE 248 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION) 217
TABLE 249 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (UNITS) 217
12.4.6 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION 218
TABLE 250 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 218
TABLE 251 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 218
TABLE 252 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 218
TABLE 253 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS) 219
12.4.7 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY 219
TABLE 254 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 219
TABLE 255 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 219
TABLE 256 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 220
TABLE 257 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 220
12.4.8 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY 220
TABLE 258 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 220
TABLE 259 ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS) 221
TABLE 260 ASIA-PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 221
TABLE 261 ASIA-PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS) 221
12.4.8.1 China 222
12.4.8.1.1 Huge government investments in mining sector to drive market 222
TABLE 262 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 222
TABLE 263 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 222
TABLE 264 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 223
TABLE 265 CHINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 223
12.4.8.2 India 223
12.4.8.2.1 Improving business condition to drive market 223
TABLE 266 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 224
TABLE 267 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 224
TABLE 268 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 224
TABLE 269 INDIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 225
12.4.8.3 Japan 225
12.4.8.3.1 Increasing government support for construction sector to drive market 225
TABLE 270 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 225
TABLE 271 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 226
TABLE 272 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 226
TABLE 273 JAPAN: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 226
12.4.8.4 Australia 227
12.4.8.4.1 Booming mining activities to drive market 227
TABLE 274 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 227
TABLE 275 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 227
TABLE 276 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 228
TABLE 277 AUSTRALIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 228
12.4.8.5 Rest of Asia Pacific 228
TABLE 278 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 229
TABLE 279 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 229
TABLE 280 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 229
TABLE 281 REST OF ASIA PACIFIC: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 230
12.5 MIDDLE EAST & AFRICA 230
12.5.1 RECESSION IMPACT ON MIDDLE EAST & AFRICA 230
12.5.2 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE 231
TABLE 282 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION) 231
TABLE 283 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS) 231
TABLE 284 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION) 231
TABLE 285 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS) 232
12.5.3 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE 232
TABLE 286 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION) 232
TABLE 287 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS) 232
TABLE 288 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION) 233
TABLE 289 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS) 233
12.5.4 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY TYPE 233
TABLE 290 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION) 233
TABLE 291 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS) 234
TABLE 292 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION) 234
TABLE 293 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS) 234
12.5.5 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE 234
TABLE 294 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION) 234
TABLE 295 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS) 235
TABLE 296 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION) 235
TABLE 297 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE, 2023–2028 (UNITS) 235
12.5.6 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION TYPE 236
TABLE 298 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 236
TABLE 299 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (UNITS) 236
TABLE 300 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 236
TABLE 301 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS) 237
12.5.7 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY TYPE 237
TABLE 302 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 237
TABLE 303 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 237
TABLE 304 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 238
TABLE 305 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 238
12.5.8 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY 238
TABLE 306 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 238
TABLE 307 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS) 239
TABLE 308 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 239
TABLE 309 MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS) 239
12.5.8.1 Saudi Arabia 240
12.5.8.1.1 Vision 2030 plan to be major growth driver 240
TABLE 310 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 240
TABLE 311 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 240
TABLE 312 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 241
TABLE 313 SAUDI ARABIA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 241
12.5.9 SOUTH AFRICA 241
12.5.9.1 Increase in non-residential construction activities to drive market 241
TABLE 314 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 242
TABLE 315 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 242
TABLE 316 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 242
TABLE 317 SOUTH AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 243
12.5.9.2 Turkey 243
12.5.9.2.1 Rail infrastructure development activities to drive market 243
TABLE 318 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 243
TABLE 319 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 244
TABLE 320 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 244
TABLE 321 TURKEY: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 244
12.5.9.3 Qatar 245
12.5.9.3.1 Development and maintenance activities for commercial events to drive market 245
TABLE 322 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 245
TABLE 323 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 245
TABLE 324 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 246
TABLE 325 QATAR: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 246
12.5.9.4 UAE 246
12.5.9.4.1 Growing tourism activities to drive market 246
TABLE 326 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 247
TABLE 327 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 247
TABLE 328 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 247
TABLE 329 UAE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 248
12.5.9.5 Rest of Middle East & Africa 248
TABLE 330 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 248
TABLE 331 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 249
TABLE 332 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 249
TABLE 333 REST OF MIDDLE EAST & AFRICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 249
12.6 SOUTH AMERICA 250
12.6.1 RECESSION IMPACT ON SOUTH AMERICA 250
12.6.2 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE 250
TABLE 334 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (USD MILLION) 250
TABLE 335 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2018–2022 (UNITS) 251
TABLE 336 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (USD MILLION) 251
TABLE 337 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY MACHINERY TYPE, 2023–2028 (UNITS) 251
12.6.3 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE 252
TABLE 338 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION) 252
TABLE 339 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2018–2022 (UNITS) 252
TABLE 340 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (USD MILLION) 252
TABLE 341 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION TYPE, 2023–2028 (UNITS) 252
12.6.4 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY TYPE 253
TABLE 342 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (USD MILLION) 253
TABLE 343 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2018–2022 (UNITS) 253
TABLE 344 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (USD MILLION) 253
TABLE 345 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY ENGINE CAPACITY, 2023–2028 (UNITS) 254
12.6.5 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE 254
TABLE 346 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (USD MILLION) 254
TABLE 347 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2022 (UNITS) 254
TABLE 348 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2023–2028 (USD MILLION) 255
TABLE 349 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT TYPE, 2023–2028 (UNITS) 255
12.6.6 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION TYPE 255
TABLE 350 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 255
TABLE 351 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (UNITS) 256
TABLE 352 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 256
TABLE 353 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (UNITS) 256
12.6.7 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY 257
TABLE 354 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 257
TABLE 355 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 257
TABLE 356 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 257
TABLE 357 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 258
12.6.8 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY 258
TABLE 358 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 258
TABLE 359 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (UNITS) 258
TABLE 360 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 259
TABLE 361 SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (UNITS) 259
12.6.8.1 Brazil 259
12.6.8.1.1 Increased hotel construction projects to drive market 259
TABLE 362 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 260
TABLE 363 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 260
TABLE 364 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 260
TABLE 365 BRAZIL: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 261
12.6.8.2 Argentina 261
12.6.8.2.1 Growth of infrastructure projects to drive market 261
TABLE 366 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 261
TABLE 367 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 262
TABLE 368 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 262
TABLE 369 ARGENTINA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 262
12.6.8.3 Chile 263
12.6.8.3.1 Increasing Rail infrastructure development activities to drive market 263
TABLE 370 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 263
TABLE 371 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 263
TABLE 372 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 264
TABLE 373 CHILE: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 264
12.6.8.4 Peru 264
12.6.8.4.1 Growing Mining activities to drive market 264
TABLE 374 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 265
TABLE 375 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 265
TABLE 376 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 265
TABLE 377 PERU: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 266
12.6.8.5 Rest of South America 266
TABLE 378 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION) 266
TABLE 379 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2018–2022 (UNITS) 267
TABLE 380 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION) 267
TABLE 381 REST OF SOUTH AMERICA: HEAVY CONSTRUCTION EQUIPMENT MARKET, BY END-USE INDUSTRY, 2023–2028 (UNITS) 267
13 COMPETITIVE LANDSCAPE 268
13.1 INTRODUCTION 268
13.2 MARKET SHARE ANALYSIS 268
FIGURE 58 SHARE OF TOP COMPANIES IN HEAVY CONSTRUCTION EQUIPMENT MARKET 268
TABLE 382 DEGREE OF COMPETITION: HEAVY CONSTRUCTION EQUIPMENT MARKET 269
13.3 MARKET RANKING 269
FIGURE 59 RANKING OF TOP FIVE PLAYERS IN HEAVY CONSTRUCTION EQUIPMENT MARKET 270
13.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS 270
FIGURE 60 REVENUE ANALYSIS 270
13.5 COMPANY EVALUATION MATRIX 271
TABLE 383 COMPANY PRODUCT FOOTPRINT 271
TABLE 384 MACHINERY TYPE FOOTPRINT 271
TABLE 385 COMPANY END-USE INDUSTRY FOOTPRINT 272
TABLE 386 COMPANY REGION FOOTPRINT 272
13.6 COMPANY EVALUATION MATRIX 273
13.6.1 STARS 273
13.6.2 PERVASIVE PLAYERS 273
13.6.3 EMERGING LEADERS 273
13.6.4 PARTICIPANTS 273
FIGURE 61 HEAVY CONSTRUCTION EQUIPMENT MARKET (GLOBAL): COMPANY EVALUATION MATRIX, 2022 274
13.7 MARKET EVALUATION FRAMEWORK 275
TABLE 387 HEAVY CONSTRUCTION EQUIPMENT MARKET: DEALS, 2022–2023 275
TABLE 388 HEAVY CONSTRUCTION EQUIPMENT: PRODUCT DEVELOPMENTS, 2022–2023 283
TABLE 389 HEAVY CONSTRUCTION EQUIPMENT: OTHER DEVELOPMENTS, 2022–2023 287
13.8 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 292
TABLE 390 HEAVY CONSTRUCTION EQUIPMENT MARKET: DETAILED LIST OF KEY STARTUPS/SMES 292
TABLE 391 HEAVY CONSTRUCTION EQUIPMENT MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 293
13.9 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 293
13.9.1 PROGRESSIVE COMPANIES 293
13.9.2 RESPONSIVE COMPANIES 293
13.9.3 DYNAMIC COMPANIES 294
13.9.4 STARTING BLOCKS 294
FIGURE 62 HEAVY CONSTRUCTION EQUIPMENT MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2022 294
14 COMPANY PROFILES 295
14.1 KEY COMPANIES 295
(overview, Products/Solutions/Services offered, Deals, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and competitive threats)*
14.1.1 CATERPILLAR 295
TABLE 392 CATERPILLAR: COMPANY OVERVIEW 295
FIGURE 63 CATERPILLAR: COMPANY SNAPSHOT 296
14.1.2 VOLVO GROUP 301
TABLE 393 VOLVO GROUP: COMPANY OVERVIEW 301
FIGURE 64 VOLVO GROUP: COMPANY SNAPSHOT 302
14.1.3 KOMATSU 307
TABLE 394 KOMASTU: COMPANY OVERVIEW 307
FIGURE 65 KOMASTU: COMPANY SNAPSHOT 308
14.1.4 HITACHI CONSTRUCTION MACHINERY CO., LTD. 313
TABLE 395 HITACHI CONSTRUCTION MACHINERY CO., LTD.: COMPANY OVERVIEW 313
FIGURE 66 HITACHI CONSTRUCTION MACHINERY CO., LTD.: COMPANY SNAPSHOT 314
14.1.5 TEREX CORPORATION 318
TABLE 396 TEREX CORPORATION: COMPANY OVERVIEW 318
FIGURE 67 TEREX CORPORATION: COMPANY SNAPSHOT 319
14.1.6 LIEBHERR AG 322
TABLE 397 LIEBHERR AG: COMPANY OVERVIEW 322
FIGURE 68 LIEBHERR AG: COMPANY SNAPSHOT 323
14.1.7 SANY HEAVY INDUSTRY CO., LTD. 326
TABLE 398 SANY HEAVY INDUSTRY CO., LTD.: COMPANY OVERVIEW 326
14.1.8 HD HYUNDAI 330
TABLE 399 HD HYUNDAI: COMPANY OVERVIEW 330
FIGURE 69 HD HYUNDAI: COMPANY SNAPSHOT 330
14.1.9 XCMG GROUP 335
TABLE 400 XCMG GROUP: COMPANY OVERVIEW 335
FIGURE 70 XCMG GROUP: COMPANY SNAPSHOT 335
14.1.10 CNH INDUSTRIAL N.V. 339
TABLE 401 CNH INDUSTRIAL N.V.: COMPANY OVERVIEW 339
FIGURE 71 CNH INDUSTRIAL N.V.: COMPANY SNAPSHOT 340
14.2 OTHER PLAYERS 344
14.2.1 J C BAMFORD EXCAVATORS LTD. 344
TABLE 402 J C BAMFORD EXCAVATORS LTD.: COMPANY OVERVIEW 344
14.2.2 WACKER NEUSON SE 345
TABLE 403 WACKER NEUSON SE: COMPANY OVERVIEW 345
14.2.3 MANITOU GROUP 345
TABLE 404 MANITOU GROUP: COMPANY OVERVIEW 345
14.2.4 ESCORTS KUBOTA LIMITED 346
TABLE 405 ESCORTS KUBOTA LIMITED: COMPANY OVERVIEW 346
14.2.5 DEERE & COMPANY 346
TABLE 406 DEERE & COMPANY: COMPANY OVERVIEW 346
14.2.6 ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD. 347
TABLE 407 ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 347
14.2.7 KOBELCO CONSTRUCTION MACHINERY CO., LTD. 347
TABLE 408 KOBELCO CONSTRUCTION MACHINERY CO., LTD.: COMPANY OVERVIEW 347
14.2.8 SUMITOMO HEAVY INDUSTRIES, LTD. 348
TABLE 409 SUMITOMO HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW 348
14.2.9 HIAB 348
TABLE 410 HIAB: COMPANY OVERVIEW 348
14.2.10 HIDROMEK 349
TABLE 411 HIDROMEK: COMPANY OVERVIEW 349
*Details on Business overview, Products/Solutions/Services offered, Deals, Recent developments, MnM view, Right to win, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
15 APPENDIX 350
15.1 DISCUSSION GUIDE 350
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 353
15.3 CUSTOMIZATION OPTIONS 355
15.4 RELATED REPORTS 355
15.5 AUTHOR DETAILS 356
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