Construction Equipment Market Size, Share, Forecast, & Trends Analysis

According to the latest publication by Meticulous Research®, the construction equipment market is expected to surpass $236.9 billion by 2031, with a CAGR of 5.3% from 2024 to 2031. This growth is primarily fueled by rising government investments in construction and infrastructure projects and the growing need to improve efficiency, productivity, and safety in construction activities. Additionally, the increasing automation of construction equipment is anticipated to offer new market growth opportunities. However, market expansion may be hindered by strict international trade regulations and the high cost of construction equipment. Moreover, the shortage of skilled equipment operators poses a significant challenge to market growth.