The Heavy Construction Equipment Market size is expected to reach US$ 148.30 billion by 2031 from US$ 93.30 billion in 202 4. The market is estimated to record a CAGR of 7.00% from 2025 to 2031 .
Executive Summary and Asia Pacific Heavy Construction Equipment Market Analysis:
The heavy construction equipment market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, the Philippines, Vietnam, and the Rest of Asia Pacific. The construction sector in Asia Pacific recorded ~US$ 4.36 trillion of output in 2022, representing approximately 45% of the global construction sector. However, in January 2025, infrastructure investments related to transportation, renewable energy, and manufacturing reached US$ 21.9 billion in Singapore and Malaysia. Further, the government of New Zealand is emphasizing the development of infrastructure networks such as water and wastewater systems, road and rail networks, electricity transmission, and telecommunication infrastructure. Growing population and increasing urbanization are a few factors boosting the need to expand and upgrade important infrastructure facilities in the country. The government of New Zealand plans to offer ~US$ 47 billion for infrastructure development over the coming five years 2023-2027. The growing focus on infrastructure development is anticipated to propel the growth of construction activities, along with the application of heavy construction equipment, across the country in the coming years.
Asia Pacific Heavy Construction Equipment Market Segmentation Analysis:
Key segments that contributed to the derivation of the Heavy Construction Equipment Market analysis are machine type, power output, propulsion type, and end-use industry.
By machine type, the heavy construction equipment market is segmented into earth-moving equipment, material handling equipment, heavy construction vehicles, and others. The earth-moving equipment segment held a larger share of the market in 2024 . In terms of power output, the market is segmented into less than 100 HP, 101–200 HP, 201–400 HP, and above 400 HP. The 201–400 HP segment held the largest share of the market in 2024 By propulsion type, the heavy construction equipment market is segmented into Internal Combustion Engine (ICE), and Electric. The ICE segment held a larger share of the market in 2024 . By end-use industry, the heavy construction equipment market is segmented into building and construction, forestry & agriculture, mining, others. The building and construction segment held a largest share of the market in 2024
Asia Pacific Heavy Construction Equipment Market Outlook
Asia Pacific (APAC) is one of the most significant and fastest-growing markets for heavy construction equipment, driven by rapid urbanization, industrialization, government infrastructure initiatives, and rising demand for advanced construction machinery. The diverse economies and varying development stages across countries in the region create unique dynamics that shape the demand for heavy construction equipment. The increasing number of modernization projects, including Singapore Changi, Beijing Capital International, and Incheon International, are positively impacting the overall construction sector. Countries such as Indonesia and Thailand are also investing in domestic infrastructural development with more focus on regional airports to improve connectivity. Currently, out of 425 airport and airport infrastructure development projects across the globe, 155 projects are under development in Asia Pacific with an investment of US$ 209 billion.
One of the largest airport development projects in Asia Pacific is Long Thanh International Airport in Vietnam, which has an investment of US$ 14.5 billion and is expected to be completed in 2025. In addition, the expansion of Terminal 5 at Changi Airport, Singapore, is a US$ 10 billion project and is expected to be completed by 2030. In July 2022, the government of the Philippines announced plans to redevelop its 30-year-old Cadlao Oil Field to boost the country's oil production in the coming years. Similarly, in May 2022, The Hoang Long, consisting of two different companies, secured a drilling rig for its planned offshore development wells in the Cuu Long basin in Vietnam. Such developments are creating the demand for heavy construction equipment in the Rest of Asia Pacific.
Asia Pacific Heavy Construction Equipment Market Country Insights
Based on Geography, the Asia Pacific Heavy Construction Equipment Market comprises of China, Japan, South Korea, India, Australia, Indonesia, Singapore, Malaysia, Taiwan, Thailand, Vietnam, New Zealand, Philippines, Bangladesh, and Rest of Asia Pacific. The China held the largest share in 2024 .
The construction and infrastructure industry in China have witnessed transformative developments driven by rapid economic growth and the nation's ascent as a global economic powerhouse. China is one of the largest construction markets worldwide. In March 2024, the government of China announced its target to fund US$ 173 billion (CNY 1.2 trillion) in transport infrastructure projects by the end of 2024. Furthermore, in March 2024, the Yangtze River Delta region government announced an investment of US$ 19.6 billion (CNY 140 billion) to build 32 railway infrastructure projects. In February 2024, the Shanghai government announced its target to initiate work on 24 projects with a combined investment of US$ 5.8 billion (CNY 42.1 billion).
According to the government's transportation network planning outline, China aimed to add 400 airports by 2035, an increase from ~240 airports in 2022. China's 32 large and busy airports are suffering from capacity overload, and 40 of the country’s 50 largest airports need renovation or expansion, according to the Civil Aviation Administration of China (CAAC). China's 14th Five-Year Plan covers 140 airport projects, including greenfield construction, relocation, renovation, and expansion by the end of 2025. With such sustained investments and a focus on innovation toward infrastructure, China continues to shape its construction sector to accommodate escalating development and assert its positive impact on the heavy construction equipment market.
Asia Pacific Heavy Construction Equipment Market Company Profiles
Some of the key players operating in the market includes Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Liebherr Group, and Hitachi Construction Machinery, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisition to provide innovative products to their consumers and increase their market share.
Asia Pacific Heavy Construction Equipment Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report:
Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Company websites, annual reports, financial statements, broker analyses, and investor presentations. Industry trade journals and other relevant publications. Government documents, statistical databases, and market reports. News articles, press releases, and webcasts specific to companies operating in the market.Note:All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Primary Research
Business Market Insights’ conduct a significant number of primary interviews each year with industry stakeholders and experts to validate its data, analysis, and gain valuable insights. These research interviews are designed to:
Validate and refine findings from secondary research. Enhance the expertise and market understanding of the analysis team. Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects. Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
Industry stakeholders:
Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise Key Sources Referred:
IFAWPCA Japan Construction Equipment Manufacturers Association Indian Construction Equipment Manufacturers Association International Trade Administration
- 1. Introduction
- 1.1 Business Market Insights Research Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Market Insights
- 2.2 Market Attractiveness
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
- 4. Asia Pacific Heavy Construction Equipment Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 5. Asia Pacific Heavy Construction Equipment Market – Key Market Dynamics
- 5.1 Growth Drivers
- 5.1.1 Rise in Investment in Construction Industry Worldwide
- 5.1.2 Rising Importance of Heavy Construction Equipment in Oil & Gas Industry
- 5.1.3 Rise in Demand for Material Handling Equipment in Logistics and Warehousing Sector
- 5.2 Market Opportunities
- 5.2.1 Growing Infrastructure Advancement Activities in Emerging Economies
- 5.2.2 Increasing Energy Infrastructure Development Initiatives
- 5.3 Future Trends
- 5.3.1 Product Innovations and Strategic Activities Adopted by Key Players
- 5.4 Impact of Drivers and Restraints
- 6. Asia Pacific Heavy Construction Equipment Market Regional Analysis
- 6.1 Asia Pacific Heavy Construction Equipment Market Overview
- 6.2 Asia Pacific Heavy Construction Equipment Market Revenue 2021-2031 (US$ Billion)
- 6.3 Asia Pacific Heavy Construction Equipment Market Forecast Analysis
- 7. Asia Pacific Heavy Construction Equipment Market Analysis – by Type
- 7.1 Earthmoving Equipment
- 7.1.1 Overview
- 7.1.2 Earthmoving Equipment: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 7.2 Material Handling Equipment
- 7.2.1 Overview
- 7.2.2 Material Handling Equipment: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 7.3 Heavy Construction Vehicles
- 7.3.1 Overview
- 7.3.2 Heavy Construction Vehicles: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 8. Asia Pacific Heavy Construction Equipment Market Analysis – by Product Output
- 8.1 Less than 100 HP
- 8.1.1 Overview
- 8.1.2 Less than 100 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 8.2 101-200 HP
- 8.2.1 Overview
- 8.2.2 101-200 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 8.3 201-400 HP
- 8.3.1 Overview
- 8.3.2 201-400 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 8.4 Above 400 HP
- 8.4.1 Overview
- 8.4.2 Above 400 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 9. Asia Pacific Heavy Construction Equipment Market Analysis – by Propulsion Type
- 9.1 ICE
- 9.1.1 Overview
- 9.1.2 Above 400 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 9.2 Electric
- 9.2.1 Overview
- 9.2.2 Above 400 HP: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10. Asia Pacific Heavy Construction Equipment Market – Asia Pacific Analysis
- 10.1 Asia Pacific
- 10.1.1 Asia Pacific Heavy Construction Equipment Market Breakdown, by Key Country, 2025 and 2031 (%)
- 10.1.1.1 Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 China: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.1.1 China: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.1.2 China: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.1.3 China: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.2 Japan: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.2.1 Japan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.2.2 Japan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.2.3 Japan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.3 South Korea: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.3.1 South Korea: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.3.2 South Korea: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.3.3 South Korea: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.4 Taiwan: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.4.1 Taiwan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.4.2 Taiwan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.4.3 Taiwan: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.5 India: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.5.1 India: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.5.2 India: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.5.3 India: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.6 Vietnam: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.6.1 Vietnam: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.6.2 Vietnam: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.6.3 Vietnam: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.7 Singapore: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.7.1 Singapore: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.7.2 Singapore: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.7.3 Singapore: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.8 Australia: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.8.1 Australia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.8.2 Australia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.8.3 Australia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.9 Thailand: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.9.1 Thailand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.9.2 Thailand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.9.3 Thailand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.10 Malaysia: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.10.1 Malaysia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.10.2 Malaysia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.10.3 Malaysia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.11 Indonesia: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.11.1 Indonesia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.11.2 Indonesia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.11.3 Indonesia: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.12 New Zealand: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.12.1 New Zealand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.12.2 New Zealand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.12.3 New Zealand: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.13 Philippines: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.13.1 Philippines: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.13.2 Philippines: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.13.3 Philippines: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.14 Bangladesh: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.14.1 Bangladesh: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.14.2 Bangladesh: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.14.3 Bangladesh: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 10.1.1.15 and Rest of APAC: Asia Pacific Heavy Construction Equipment Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.15.1 and Rest of APAC: Asia Pacific Heavy Construction Equipment Market Breakdown, by Type
- 10.1.1.15.2 and Rest of APAC: Asia Pacific Heavy Construction Equipment Market Breakdown, by Product Output
- 10.1.1.15.3 and Rest of APAC: Asia Pacific Heavy Construction Equipment Market Breakdown, by Propulsion Type
- 11. Competitive Landscape
- 11.1 Heat Map Analysis
- 11.2 Company Positioning and Concentration
- 12. Asia Pacific Heavy Construction Equipment Market Industry Landscape
- 12.1 Overview
- 12.2 Mergers and Acquisitions
- 12.3 Agreements, Collaborations, and Joint Ventures
- 12.4 New Product Launches
- 12.5 Expansions and Other Strategic Developments
- 13. Company Profiles
- 13.1 JC BAMFORD EXCAVATORS LTD
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 AB VOLVO
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 CATERPILLAR INC
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 HITACHI LTD
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 HYUNDAI CONSTRUCTION EQUIPMENT CO LTD
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 DOOSAN CORP
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 CNH INDUSTRIAL NV
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 DEERE & CO
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 KOMATSU LTD
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 LIEBHERR
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
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