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Global Construction and Mining Vehicle Market

Published Dec 02, 2025
Length 168 Pages
SKU # NEXA20694477

Description

MARKET SCOPE:

The global construction and mining vehicle market is projected to grow significantly, registering a CAGR of 4.9% during the forecast period (2026 – 2034).

The construction and mining vehicle market is experiencing growth driven by several key factors. Foremost among these is the global push for infrastructure development, with governments and the private sector going out of their way to invest in the construction of roads, bridges, airports, and urbanization. This increased infrastructure development requires the application of the latest construction and mining equipment to enable efficiency and timely completion of projects. Continuous urbanization in emerging economies is also driving demand for residential and commercial real estate, further driving demand for construction machinery. The mining industry is also witnessing a rebound in growth due to the demand for minerals and metals, which are critical to multiple industries, thus driving demand for specialized equipment in the mines.

Technical innovation is also a major driver of market expansion. The adoption of technologies such as Internet of Things (IOT), Artificial Intelligence and Telematics has increased their performance, productivity and safety in construction and mining machinery. These smart technologies facilitate real -time monitoring, future maintenance and enhanced operating efficiency, and thus provide investment opportunities to industries looking to customize operations. In addition, increasing emphasis on stability and green building practices also increase the demand for energy-efficient and heavy-power construction machinery as governments and corporations see to reduce carbon emissions and follow environmental rules. These technologies not only increase productivity, but also assist in global stability goals, and thus invest and further the expansion of the market.

MARKET OVERVIEW:

Driver: Rising Infrastructure Development Fueling Demand for Heavy Machinery

Global growth in infrastructure construction is a key driver of growth that is driving growth in the construction and mining vehicle market. Urbanization and industrialization in the emerging economies like India, China, and Brazil are driving massive investments in office buildings, airports, railways, and highways. The developed economies are also replacing outdated infrastructure, which is contributing to demand for advanced construction and mining vehicles. These projects require high-performance, reliable equipment such as drilling rigs, dump trucks, loaders, and excavators in order to perform efficiently and on time.

Furthermore, government investments in smart city and rural connectivity projects and public-private partnerships (PPPs) have been providing conducive ground to the heavy machinery sector. Demand for purpose-built vehicles to perform in diversified terrain and climatic conditions keeps rising. Consequently, manufacturers are designing agile, resilient, fuel-efficient, and technologically sophisticated machines to address the rising demand for productivity, safety, and adherence to strict environmental regulations.

Restraint: High Capital and Maintenance Costs Limiting Market Penetration

While demand is rising, the market is restrained by the significant capital investment required to acquire construction and mining vehicles. These machines are expensive, and the price can be too high for small and medium-sized enterprises, especially in value-sensitive markets. In addition to the procurement price, maintenance in ownership meets the recurring costs in fuel, priests and training operators - in addition to advanced technologies such as telematics, GPS and automated systems.

In addition, advanced technology of today's vehicles translates for repair, which requires special training and clinical equipment, leading to an increase in downtime and operational expenditure. Monetary boundaries can prevent equipment upgradation or increase the use of older machines affecting productivity and safety. This economic barrier continues to limit the wider market, especially between small contractors and firms working in emerging economies.

Opportunities Electrification and Automation Driving Next-Gen Vehicle Adoption

One of the most promising opportunities in the construction and mining vehicle market lies in the transition toward electric and autonomous vehicles. With the world becoming more environmentally friendly, low-emission, energy-efficient equipment is in greater and greater demand. Electric equipment not only reduces fuel and carbon emissions but also prevents the equipment from becoming non-compliant with more stringent emissions regulations, especially in Europe and North America.

Meanwhile, the industry is also seeing growing adoption of autonomous and semi-autonomous vehicles that offer greater safety, reduced human error, and greater efficiency in hazardous or remote working environments. Intelligent machines like these are equipped with sensors, GPS, AI, and real-time analytics to deliver improved performance and predictive maintenance. Companies embracing electrification and automation technologies can benefit from an evolving market setting, where eco-efficiency and intelligent operations become the new standard.

SEGMENTATION ANALYSIS:

The diesel-powered vehicle segment is anticipated to grow significantly during the forecast period

The diesel-powered vehicle segment is anticipated to grow significantly during the forecast period

The construction and mining vehicle market is segmented based on propulsion type, encompassing diesel-powered, CNG/LNG-powered, and various electric vehicle (EV) technologies. Each propulsion segment has its own strength and weakness, catering to various operational requirements, environmental regulations, and evolving industry demands for efficiency and sustainability.

The diesel-powered vehicle market continues to lead the construction and mining vehicle market on the back of its strength, torque value, and performance in challenging conditions. The vehicles are used predominantly for heavy-duty uses such as excavation, material hauling, and earthmoving in city and off-road conditions. They are also supported by the current fueling and maintenance infrastructure in the majority of markets, especially in emerging markets. Despite increasing environmental pressures, cost advantage and durability of diesel engines continue to lead robust demand. Stringent emissions regulations and the search for cleaner solutions are gradually shifting the focus back to cleaner propulsion technologies.

REGIONAL ANALYSIS:

The Asia Pacific region is set to witness significant growth during the forecast period

The Asia Pacific construction and mining vehicle market is expected to dominate the global landscape during the forecast period, driven by rapid urbanization, industrialization, and massive infrastructure growth in major economies like China, India, and Southeast Asia. High demand for construction and mining equipment is being driven by mega government projects for smart cities, highways, railways, and energy projects. China, being a major manufacturing hub, exports and imports massive quantities of heavy-duty equipment, and India's projects fuel regional growth even more. Moreover, Australia and Indonesia's rich natural resources fuel mining activities, with high demand for specialist vehicles being sustained.

In contrast, markets such as North America and Europe show growth in stable markets through technological progress and environmental protection. The United States and Canada have advanced manufacturing facilities and promote the growing investment, power, and increasing demand for autonomous vehicles in green infrastructure. Europe focuses on decreasing emissions and green building, which promotes rapid changes toward green devices. In Latin America, the Middle East, and Africa, respectively, economies in emerging markets are observing improvements in economic conditions alongside increasing mining exploration and development. Asia Pacific leads in overall volume and demand, while other markets contribute through innovation and market transformation without regulation.

COMPETITIVE ANALYSIS:

The global construction and mining vehicle market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

Hitachi Construction Machinery Co., Ltd

Hyundai Construction Equipment

Bell Equipment

Caterpillar Inc

Sany Heavy Industry Co., Ltd

Terex Corporation

Deere & Company

Doosan Infracore

Epiroc AB

JCB

Liebherr Group

Volvo Construction Equipment

Recent Development:

In May 2024, Volvo Construction Equipment unveiled a modernized excavator lineup, introduced the EWR150 Electric wheeled excavator, and expanded its electric machinery range and charging solutions.

In October 2024, Terex Corporation acquired the Environmental Solutions Group from Dover Corporation for $2 billion, entering the solid waste and recycling equipment market.

In November 2024, Sany Heavy Industry showcased its fully electric unmanned concept excavator, E-MOVE, unveiled 31 new products featuring advanced charging and hydrogen tech, and announced plans for a Hong Kong stock exchange listing.

SCOPE OF THE REPORT:

By Vehicle Type
  • Cranes
  • Excavators
  • Loaders
  • Dump Trucks
  • Bulldozers
  • Others
By Power Output
  • Below 100 HP
  • 100-200 HP
  • 200-400 HP
  • Above 400 HP
By Propulsion
  • CNG/LNG-Powered Vehicles
  • Diesel-Powered Vehicles
  • Electric Vehicles (EVs)
  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Fuel Cell Electric Vehicles (FCEVs)
By Application
  • Construction Applications
  • Mining Applications
By Region
  • North America (United States & Canada)
  • Europe (Germany, UK, France, Spain, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific)
  • Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa and Rest of Middle East and Africa)
KEY REASONS TO PURCHASE THIS REPORT:

It provides a technological development map over time to understand the industry’s growth rate and indicates how the construction and mining vehicle market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which construction and mining vehicle submarket will be the main driver of the overall market from 2026 to 2034.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2034 and which country will lead the market in 2034.

Table of Contents

168 Pages
1. Executive Summary
1.1. Market Snapshot
1.2. Global Construction And Mining Vehicle Market - Regional Analysis
1.3. Global Construction And Mining Vehicle Market - Segment Analysis
1.3.1. Global Construction And Mining Vehicle Market, By Vehicle Type
1.3.2. Global Construction And Mining Vehicle Market, By Power Output
1.3.3. Global Construction And Mining Vehicle Market, By Propulsion
1.3.4. Global Construction And Mining Vehicle Market, By Application
2. Overview And Scope
2.1. Market Vision
2.1.1. Market Definition
2.2. Market Segmentation
3. Global Construction And Mining Vehicle Market Overview, By Region: 2020 Vs 2025 Vs 2034
3.1. Global Construction And Mining Vehicle Market, By Region (2020 VS 2025 VS 2034)
3.2. North Construction And Mining Vehicle Market, By Country (2020 VS 2025 VS 2034)
3.3. Europe Construction And Mining Vehicle Market, By Country (2020 VS 2025 VS 2034)
3.4. Asia-Pacific Construction And Mining Vehicle Market, By Country (2020 VS 2025 VS 2034)
3.5. Latin America Construction And Mining Vehicle Market, By Country (2020 VS 2025 VS 2034)
3.6. Middle East & Africa Construction And Mining Vehicle Market, By Country (2020 VS 2025 VS 2034)
4. Global Construction And Mining Vehicle Market Dynamics
4.1. Market Overview
4.1.1. Market Drivers
4.1.1.1. Market Driver 1
4.1.1.2. Market Drivers 2
4.1.2. Market Restraints/ Challenges Analysis
4.1.2.1. Market Restraints/ Challenges Analysis 1
4.1.2.2. Market Restraints/ Challenges Analysis 2
4.1.3. Market Opportunities
4.1.3.1. Market Opportunities 1
4.1.3.2. Market Opportunities 2
4.2. PESTLE Analysis
4.2.1. Political Factors
4.2.2. Economic Factors
4.2.3. Social Factors
4.2.4. Technological Factors
4.2.5. Legal Factors
4.2.6. Environmental Factors
4.3. Value Chain Analysis/Supply Chain Analysis
4.4. Porter’s Five Forces Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. The threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
4.5. Covid-19 Impact Analysis on Global Construction And Mining Vehicle Market
** In – depth qualitative analysis will be provided in the final report subject to market
5. Global Construction And Mining Vehicle Market, By Vehicle Type
5.1. Overview
5.2. Global Construction And Mining Vehicle Market By Vehicle Type (2020 - 2034) (USD Million)
5.3. Key Findings for Construction And Mining Vehicle Market - By Vehicle Type
5.3.1. Cranes
5.3.2. Excavators
5.3.3. Loaders
5.3.4. Dump Trucks
5.3.5. Bulldozers
5.3.6. Others
6. Global Construction And Mining Vehicle Market, By Power Output
6.1. Overview
6.2. Global Construction And Mining Vehicle Market By Power Output (2020 - 2034) (USD Million)
6.3. Key Findings for Construction And Mining Vehicle Market - By Power Output
6.3.1. Below 100 HP
6.3.2. 100-200 HP
6.3.3. 200-400 HP
6.3.4. Above 400 HP
7. Global Construction And Mining Vehicle Market, By Propulsion
7.1. Overview
7.2. Global Construction And Mining Vehicle Market By Propulsion (2020 - 2034) (USD Million)
7.3. Key Findings for Construction And Mining Vehicle Market - By Propulsion
7.3.1. CNG/LNG-Powered Vehicles
7.3.2. Diesel-Powered Vehicles
7.3.3. Electric Vehicles (EVs)
7.3.3.1. Battery Electric Vehicles (BEVs)
7.3.3.2. Hybrid Electric Vehicles (HEVs)
7.3.3.3. Fuel Cell Electric Vehicles (FCEVs)
8. Global Construction And Mining Vehicle Market, By Application
8.1. Overview
8.2. Global Construction And Mining Vehicle Market By Application (2020 - 2034) (USD Million)
8.3. Key Findings for Construction And Mining Vehicle Market - By Application
8.3.1. Construction Applications
8.3.2. Mining Applications
9. Global Construction And Mining Vehicle Market, By Region
9.1. Overview
9.2. Global Construction And Mining Vehicle Market, By Region (2020 - 2034) (USD Million)
9.3. Key Findings For Construction And Mining Vehicle Market- By Region
9.4. Global Construction And Mining Vehicle Market, By Vehicle Type
9.5. Global Construction And Mining Vehicle Market, By Power Output
9.6. Global Construction And Mining Vehicle Market, By Propulsion
9.7. Global Construction And Mining Vehicle Market, By Application
10. Global Construction And Mining Vehicle Market- North America
10.1. Overview
10.2. North America Construction And Mining Vehicle Market (2020 - 2034) (USD Million)
10.3. North America Construction And Mining Vehicle Market, By Vehicle Type
10.4. North America Construction And Mining Vehicle Market, By Power Output
10.5. North America Construction And Mining Vehicle Market, By Propulsion
10.6. North America Construction And Mining Vehicle Market, By Application
10.7. North America Construction And Mining Vehicle Market by Country
10.7.1. United States
10.7.2. Canada
11. Global Construction And Mining Vehicle Market- Europe
11.1. Overview
11.2. Europe Construction And Mining Vehicle Market (2020 - 2034) (USD Million)
11.3. Europe Construction And Mining Vehicle Market, By Vehicle Type
11.4. Europe Construction And Mining Vehicle Market, By Power Output
11.5. Europe Construction And Mining Vehicle Market, By Propulsion
11.6. Europe Construction And Mining Vehicle Market, By Application
11.7. Europe Construction And Mining Vehicle Market by Country
11.7.1. Germany
11.7.2. UK
11.7.3. France
11.7.4. Spain
11.7.5. Italy
11.7.6. Rest of Europe
12. Global Construction And Mining Vehicle Market - Asia-Pacific
12.1. Overview
12.2. Asia-Pacific Construction And Mining Vehicle Market (2020 - 2034) (USD Million)
12.3. Asia-Pacific Construction And Mining Vehicle Market, By Vehicle Type
12.4. Asia-Pacific Construction And Mining Vehicle Market, By Power Output
12.5. Asia-Pacific Construction And Mining Vehicle Market, By Propulsion
12.6. Asia-Pacific Construction And Mining Vehicle Market, By Application
12.7. Asia-Pacific Construction And Mining Vehicle Market by Country
12.7.1. China
12.7.2. Japan
12.7.3. India
12.7.4. South Korea
12.7.5. Australia
12.7.6. Rest of Asia-Pacific
13. Global Construction And Mining Vehicle Market- Latin America
13.1. Overview
13.2. Latin America Construction And Mining Vehicle Market (2020 - 2034) (USD Million)
13.3. Latin America Construction And Mining Vehicle Market, By Vehicle Type
13.4. Latin America Construction And Mining Vehicle Market, By Power Output
13.5. Latin America Construction And Mining Vehicle Market, By Propulsion
13.6. Latin America Construction And Mining Vehicle Market, By Application
13.7. Latin America Construction And Mining Vehicle Market by Country
13.7.1. Brazil
13.7.2. Mexico
13.7.3. Argentina
13.7.4. Rest Of Latin America
14. Global Construction And Mining Vehicle Market- Middle East & Africa
14.1. Overview
14.2. Middle East & Africa Construction And Mining Vehicle Market Size (2020 - 2034) (USD Million)
14.3. Middle East & Africa Construction And Mining Vehicle Market, By Vehicle Type
14.4. Middle East & Africa Construction And Mining Vehicle Market, By Power Output
14.5. Middle East & Africa Construction And Mining Vehicle Market, By Propulsion
14.6. Middle East & Africa Construction And Mining Vehicle Market, By Application
14.7. Middle East & Africa Construction And Mining Vehicle Market, By Country
14.7.1. Saudi Arabia
14.7.2. UAE
14.7.3. Israel
14.7.4. South Africa
14.7.5. Rest of Middle East & Africa
15. Global Construction And Mining Vehicle Market- Competitive Landscape
15.1. Key Competitive Analysis
15.2. Key Strategies Adopted by the Leading Players
15.3. Global Construction And Mining Vehicle Market Competitive Positioning
15.3.1. Important Performers
15.3.2. Emerging Innovators
15.3.3. Market Players with Moderate Innovation
16. Global Construction And Mining Vehicle Market- Company Profiles
16.1. Hitachi Construction Machinery Co., Ltd
16.1.1. Corporate Summary
16.1.2. Corporate Financial Review
16.1.3. Product Portfolio
16.1.4. Key Development
16.2. Hyundai Construction Equipment
16.3. Bell Equipment
16.4. Caterpillar Inc
16.5. Sany Heavy Industry Co., Ltd
16.6. Terex Corporation
16.7. Deere & Company
16.8. Doosan Infracore
16.9. Epiroc AB
16.10. JCB
16.11. Liebherr Group
16.12. Volvo Construction Equipment
17. Our Research Methodology
17.1. Our Research Practice
17.2. Data Source
17.2.1. Secondary Source
17.2.2. Primary Source
17.3. Data Assumption
17.4. Analytical Framework for Market Assessment and Forecasting
17.5. Our Research Process
17.6. Data Validation and Publishing (Secondary Source)
18. Appendix
18.1. Disclaimer
18.2. Contact Us
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