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The global market for construction equipment is valued at USD 205 billion in 2021 and is projected to reach USD 302 billion by 2030, expanding at a CAGR of 4.6%.

Due to increased expenditures in building and infrastructure projects, the construction equipment industry generates substantial income. Emerging countries such as China and India have the largest market shares for construction equipment. India is poised to become the world's third biggest building market by 2022. Numerous existing and forthcoming construction projects, including roads, airports, dams, and commercial buildings, are anticipated to provide considerable growth prospects for the construction equipment industry over the next several years. 

According to our research of the construction equipment business, substantial investments in China and India would sustain the market's fast expansion. According to IBEF, India's 'National Infrastructure Pipeline' proposal would spend over USD 1.4 trillion in infrastructure and building over the next five years. Moreover, the Chinese government has announced 16,079 major investment projects for 2022, totaling nearly USD 3.95 trillion in investment (i.e. 25 trillion yuan). All of these expenditures in building will increase the demand for construction equipment, ultimately contributing to the expansion of the sector.