Global & Canada Heavy Construction Equipment Market to 2031

The construction industry plays a vital role in Canada’s economy, contributing approximately 7–8% to the nation’s GDP. It supports millions of jobs and has a broad influence on related sectors including manufacturing, real estate, and transportation. The industry has experienced consistent growth, fueled by factors such as urbanization, government infrastructure spending, and rising residential demand. Canada is undertaking numerous projects involving roads, highways, airports, railways, and ports to modernize existing infrastructure, increase capacity, and maintain aging facilities. Both federal and provincial governments have made substantial investments in these initiatives, supported by programs like the Investing in Canada Infrastructure Program (ICIP) and the National Trade Corridors Fund, which focus on transportation, green energy, and public infrastructure development. In December 2024, the Canadian government announced plans to invest over US$180 billion over the next 12 years in nationwide infrastructure projects, involving 21 federal departments and agencies.

Growing investments in Canada’s energy and utilities sectors are further driving demand for heavy construction equipment such as excavators, wheel loaders, and cranes. Key projects include the construction of power plants, energy pipelines, renewable energy infrastructure (including wind and solar), and water treatment facilities, all of which are crucial to Canada’s transition toward cleaner energy. Many renewable energy projects are being developed in collaboration with Indigenous communities, generating employment and economic benefits. These projects encompass hydroelectric, wind, and solar developments on Indigenous lands. The government is also investing in smart grid technology to improve energy efficiency, reduce transmission losses, and better manage demand. Alongside this, energy storage solutions like large-scale battery systems are being supported to store excess renewable energy for future use. Given Canada’s vast geography, significant investments in transmission infrastructure are necessary to efficiently transport electricity across provinces and territories. These efforts aim to connect renewable energy sources such as wind and solar with urban centers. Collectively, these public and private sector investments in expanding distribution networks are creating substantial demand for heavy construction equipment across the country.


1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Data Triangulation and Validation:
4. Canada Heavy Construction Equipment Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. Heavy Construction Equipment Market Key Market Dynamics
5.1 Heavy Construction Equipment Market – Key Market Dynamics
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Future Trends
5.6 Impact of Drivers and Restraints
6. Canada Heavy Construction Equipment Market – Analysis
6.1 Canada Heavy Construction Equipment Market Revenue (US$ Million), 2021–2031
6.2 Canada Heavy Construction Equipment Market Revenue and Forecast Analysis
7. Canada Heavy Construction Equipment Market Analysis – by Type
7.1 Canada Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Type
8. Canada Heavy Construction Equipment Market Analysis – by Power Output
8.1 Canada Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Power Output
9. Canada Heavy Construction Equipment Market Analysis – by Propulsion Type
9.1 Canada Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Propulsion Type
10. Canada Heavy Construction Equipment Market Analysis – by End-use Industry
10.1 Canada Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by End-use Industry
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.1 Company Positioning and Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.2 Partnerships and Collaborations
12.2 Other Developments
13. Company Profiles
13.1 AB Volvo
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 Caterpillar Inc
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 Komatsu Ltd
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 Construction Machinery Co 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 Liebherr-International AG
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 Terex 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 Doosan Corp
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 Sany Heavy Industry Co 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 J C Bamford Excavators Ltd
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
13.11 Hyundai Engineering & Construction Co Ltd
13.11. 1 Key Facts
13.11. 2 Business Description
13.11. 3 Products and Services
13.11. 4 Financial Overview
13.11. 5 SWOT Analysis
13.11. 6 Key Developments
14. Appendix
14.1 About Business Market Insights
14.2 List of Abbreviations
TABLE OF TABLES
Table 1. Canada Heavy Construction Equipment Market Segmentation
Table 2. List of Vendors
Table 3. Canada Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million)
Table 4. Canada Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million)
Table 5. Canada Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Type
Table 6. Canada Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Type
Table 7. Canada Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Power Output
Table 8. Canada Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Power Output
Table 9. Canada Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Propulsion Type
Table 10. Canada Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Propulsion Type
Table 11. Canada Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by End-use Industry
Table 12. Canada Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by End-use Industry
Table 13. List of Abbreviations
TABLE OF FIGURES
Figure 1. Impact Analysis of Drivers and Restraints
Figure 2. Canada Heavy Construction Equipment Market Revenue, (US$ Million), 2021–2031
Figure 3. Heat Map Analysis by Key Players
Figure 4. Company Positioning and Concentration

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