Executive Summary
The global heavy construction equipment market is projected to grow from US$ 59.85 billion in 2023 to US$ 89.29 billion by 2031, registering a compound annual growth rate (CAGR) of 6.05% during the forecast period. This growth is fueled by rapid urbanization, rising infrastructure investments, and the integration of advanced technologies such as automation and telematics across construction operations. Increasing demand for efficient, high-performance machinery continues to drive the adoption of heavy construction equipment across various sectors including residential, commercial, and industrial development.
North America Heavy Construction Equipment Market Analysis
The North American heavy construction equipment market is experiencing robust growth, underpinned by infrastructure modernization initiatives, steady economic expansion, and urban development across the US, Canada, and Mexico. Government-backed infrastructure projects, including road expansions, bridge repairs, and smart city developments, are boosting the demand for a wide range of construction machinery—such as excavators, bulldozers, cranes, backhoe loaders, and motor graders. Technological advancements, including automation and real-time monitoring systems, are further enhancing operational efficiency, safety, and productivity, solidifying North America’s position as a key regional market in the global construction equipment industry.
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North America Heavy Construction Equipment Market: Segmentation Analysis
The North America heavy construction equipment market is segmented based on machinery type, propulsion type, power output, and end-use industry.
- By Machinery Type:
The market is categorized into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Among these, the earthmoving equipment segment accounted for the largest market share in 2024. - By Propulsion Type:
The market is segmented into internal combustion engine (ICE) and electric-powered equipment. In 2024, the ICE segment dominated the market, holding the largest share. - By Power Output:
Segmentation by power output includes less than 100 HP, 101–200 HP, 201–400 HP, and above 401 HP. The 201–400 HP segment led the market in 2024, capturing the largest share. - By End-Use Industry:
The key end-use industries include building and construction, forestry and agriculture, energy and power, mining, and others. The building and construction segment emerged as the leading sector in 2024, contributing the most to market demand.
North America Heavy Construction Equipment Market Outlook
The North American heavy construction equipment market is witnessing strong growth, driven primarily by increasing government investments in infrastructure development across the region.
In the United States, the Infrastructure Investment and Jobs Act (IIJA), enacted in 2021, continues to significantly bolster the construction sector. The act allocates substantial funding for the repair and modernization of critical infrastructure, including roads, highways, bridges, and transit systems. Additionally, the growing demand for new infrastructure projects—such as public transportation, water systems, and renewable energy grids—is creating sustained demand for heavy construction equipment.
Similarly, in Canada, robust government spending on urban infrastructure, transportation networks, and clean energy projects is fueling market growth. The government’s continued focus on improving public transport and advancing renewable energy initiatives further supports the ongoing demand for advanced construction machinery.
In Mexico, major public initiatives like the Mayan Train and the Trans-Isthmus Corridor are driving significant demand in the transportation and energy sectors. These large-scale developments require substantial investments in heavy construction equipment.
Country Insights: United States, Canada, and Mexico
Geographically, the North American market comprises the U.S., Canada, and Mexico, with the United States leading the market share in 2023.
In October 2024, the U.S. Department of Transportation’s Federal Highway Administration announced a $62 billion investment under the Bipartisan Infrastructure Law to fund infrastructure projects starting in 2025. These projects include bridge repairs, road construction, and tunnel development across all 50 states, significantly boosting demand for heavy construction equipment.
Additional growth drivers in the U.S. include rapid urbanization, rising population, and a growing need for housing, commercial infrastructure, and urban development. Technological advancements by key players in the industry also present new growth opportunities. For example, in January 2025, Caterpillar Inc. introduced its next-generation Cat Telehandlers—models TH0842, TH0642, TH1055, and TH1255—replacing earlier models and offering improved performance and technology for rental and retail customers.
The increasing integration of automation, telematics, and digital solutions, along with the shift toward electric and hybrid equipment, is accelerating innovation and sustainability in the heavy construction equipment sector, further propelling market expansion.
North America Heavy Construction Equipment Market Report Highlights
| Attribute | Details |
| Market Size (2024) | US$ 59.85 Billion |
| Market Size (2031) | US$ 89.29 Billion |
| CAGR (2025–2031) | 6.05% |
| Historical Data | 2022–2023 |
| Forecast Period | 2025–2031 |
| Segments Covered | Machinery Type, Propulsion, Power Output, End Use Industry |
| Machinery Types | Earthmoving, Material Handling, Heavy Construction Vehicles |
| Propulsion Types | ICE, Electric |
| Power Output | < 100 HP, 101–200 HP, 201–400 HP, 401+ HP |
| End Use Industries | Construction, Forestry & Agriculture, Energy & Power, Mining |
| Regions Covered | North America (US, Canada, Mexico) |
North America Heavy Construction Equipment Market – Company Profiles
Key players in the North America heavy construction equipment market include Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Liebherr Group, and Hitachi Construction Machinery, among others. These companies are actively pursuing strategies such as market expansion, product innovation, and mergers & acquisitions to enhance their product offerings and strengthen their market positions.
Research Methodology for the North America Heavy Construction Equipment Market
The data and insights presented in this report are derived from a rigorous research methodology involving both secondary and primary research methods.
Secondary Research:
The research process begins with extensive secondary data collection from a variety of credible internal and external sources. These include:
- Company websites, annual reports, financial disclosures, broker analyses, and investor presentations
- Industry publications, trade journals, and relevant market literature
- Government databases, official statistics, and regulatory reports
- Press releases, news articles, and webcasts related to industry developments and company activities
This secondary research forms the foundation for further analysis and validation through primary sources, ensuring the report provides a comprehensive and accurate view of the market.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
