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Global & South Korea Heavy Construction Equipment Market to 2031

Publisher Business Market Insights
Published May 01, 2025
Length 100 Pages
SKU # BMKS20051212

Description

The construction sector in South Korea was valued at approximately US$166 billion in 2023 but experienced a decline of 6.7% compared to 2022, according to the Construction and Economy Research Institute of Korea (CERIK) and the Construction Association of Korea (CAK). The industry’s development investments encompass public and private infrastructure, civil engineering, and design services. In July 2024, the South Korean government announced plans to invest around US$814 million to stimulate construction investment. This initiative aims to enhance overseas investment in infrastructure development projects, strengthening the high value-added overseas construction industry. Additionally, increased government efforts to develop natural gas production and supply infrastructure are expected to drive construction activities, thereby boosting demand in the heavy construction equipment market in South Korea.

Several key factors influence the growth of South Korea’s construction equipment market. A major driver is the country’s strong construction industry, which has consistently expanded due to large-scale infrastructure projects, urban development, and ongoing modernization. The government prioritizes infrastructure development, especially in transportation sectors such as highways, railways, and ports, as well as in energy—including power plants and renewable energy projects—and urban housing. This growing demand has directly increased the need for advanced construction machinery like cranes, excavators, loaders, and bulldozers.

Technological innovation also plays a crucial role in shaping the market. South Korea is recognized for its leadership in construction technology, with a rapid adoption of smart construction equipment integrated with Internet of Things (IoT), artificial intelligence (AI), and automation. These advancements enhance operational efficiency, safety, and productivity on construction sites, driving demand for modern, high-tech machinery.

Furthermore, the demand for high-quality equipment meeting international standards is rising, as many South Korean construction firms participate in projects abroad. This trend has contributed to growth in construction equipment exports, positioning South Korea as a significant competitor in the global market.

Table of Contents

100 Pages
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. South Korea 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. South Korea Heavy Construction Equipment Market – Analysis
6.1 South Korea Heavy Construction Equipment Market Revenue (US$ Million), 2021–2031
6.2 South Korea Heavy Construction Equipment Market Revenue and Forecast Analysis
7. South Korea Heavy Construction Equipment Market Analysis – by Type
7.1 South Korea Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Type
8. South Korea Heavy Construction Equipment Market Analysis – by Power Output
8.1 South Korea Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Power Output
9. South Korea Heavy Construction Equipment Market Analysis – by Propulsion Type
9.1 South Korea Heavy Construction Equipment Market – Revenue and Forecast, 2021–2031 (US$ Million) – by Propulsion Type
10. South Korea Heavy Construction Equipment Market Analysis – by End-use Industry
10.1 South Korea 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. South Korea Heavy Construction Equipment Market Segmentation
Table 2. List of Vendors
Table 3. South Korea Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million)
Table 4. South Korea Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million)
Table 5. South Korea Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Type
Table 6. South Korea Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Type
Table 7. South Korea Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Power Output
Table 8. South Korea Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Power Output
Table 9. South Korea Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by Propulsion Type
Table 10. South Korea Heavy Construction Equipment Market – Revenue Forecast, 2025–2031 (US$ Million) – by Propulsion Type
Table 11. South Korea Heavy Construction Equipment Market – Revenue, 2021–2024 (US$ Million) – by End-use Industry
Table 12. South Korea 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. South Korea 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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