North America Construction Equipment Market By Type (Loader, Forklift, Excavator, Dozers, Others), By Power Output (<100hp, 101-200hp, 201-400hp, >400hp), By Application (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunnelling, Others), By Country, Competition, Opportunities & Forecast, 2020-2030F
Market Overview
North America Construction Equipment Market was valued at USD 22.11 billion in 2024 and is expected to reach USD 26.92 billion by 2030 with a CAGR of 3.34% during the forecast period.
The North America construction equipment market is benefitting from significant capital expenditures across infrastructure, industrial, and residential projects. According to the U.S. Census Bureau, total construction spending in the United States reached USD 2.07 trillion at a seasonally adjusted annual rate in April 2025, driven by private residential and nonresidential construction. The market experiences an upswing as equipment with telematics and machine control systems gain favor for improving efficiency and cost management on large projects. According to the U.S. Bureau of Economic Analysis, private fixed investment in equipment grew by 4.1% in Q1 2025, supporting demand for machinery in construction operations.
Growing sustainability mandates are influencing machine design as governments encourage lower-emission fleets. As per the U.S. Energy Information Administration, energy consumption from renewable sources increased by 13% in 2024, pushing sectors like construction toward electric and hybrid machinery to meet sustainability targets. Simultaneously, the American Rental Association projects equipment rental revenues in the U.S. to reach nearly USD 74.2 billion in 2025, underscoring how rental models offer flexibility and cost control for businesses navigating uncertain economic conditions. Digitalization trends are fostering predictive maintenance adoption, reducing downtime and ensuring optimal use of heavy equipment.
Manufacturers are navigating challenges tied to fluctuating steel prices and persistent labor shortages that complicate production schedules. According to the U.S. Bureau of Labor Statistics, employment in construction equipment manufacturing remained flat in early 2025 amid skilled labor scarcity. Volatile commodity prices reported by the Federal Reserve Bank influence equipment manufacturing costs, while stricter emissions standards demand significant investment in research and compliance. Despite these hurdles, modernization efforts, rental market expansion, and smart equipment innovations position the sector for steady growth through 2030.
Market Drivers
Infrastructure Investment Surge
Infrastructure programs across transport, energy, and utilities are fueling the demand for robust construction machinery. The U.S. Census Bureau reports that highway and street construction spending alone reached USD 136.9 billion annualized as of April 2025. These projects create persistent requirements for excavators, loaders, and material handling machinery. Federal and state funding initiatives for bridges, rail networks, and renewable energy installations are translating into new machinery purchases. The industry’s dependence on reliable equipment to maintain project schedules is further driving demand. Large-scale infrastructure undertakings ensure sustained investment in advanced, efficient construction equipment across North America.
Key Market Challenges
Skilled Labor Shortage
A persistent shortage of qualified machine operators and technicians hampers construction productivity and delays projects. The U.S. Bureau of Labor Statistics reports the construction industry facing over 440,000 open positions nationwide as of early 2025. Equipment manufacturers struggle to recruit skilled workers for assembly, testing, and servicing of complex machines. Contractors grapple with rising labor costs as they compete for a shrinking pool of experienced personnel. Shortages slow adoption of advanced technologies that require specialized training. This talent gap is an obstacle for projects demanding precision and tight timelines, and may increase dependence on automated solutions in the future.
Key Market Trends
Electric Equipment Uptake
Electric powertrains gain traction as contractors pursue sustainability targets and regulatory compliance. The U.S. Energy Information Administration reports a steady increase in electricity’s share of total energy consumption, signaling broader electrification trends. Electric excavators, loaders, and compact machines appeal for urban sites due to zero emissions and reduced noise levels. Lower operating costs and reduced maintenance requirements further boost interest. Manufacturers are expanding electric portfolios to capture this shifting demand. Although upfront costs remain higher, falling battery prices are making electric machinery increasingly competitive. Contractors view electrification as a pathway to meet sustainability goals and future-proof their fleets.
Key Market Players
In this report, the North America Construction Equipment Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the North America Construction Equipment Market.
Available Customizations:
North America Construction Equipment Market report with the given market data, TechSci Research, offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information
North America Construction Equipment Market was valued at USD 22.11 billion in 2024 and is expected to reach USD 26.92 billion by 2030 with a CAGR of 3.34% during the forecast period.
The North America construction equipment market is benefitting from significant capital expenditures across infrastructure, industrial, and residential projects. According to the U.S. Census Bureau, total construction spending in the United States reached USD 2.07 trillion at a seasonally adjusted annual rate in April 2025, driven by private residential and nonresidential construction. The market experiences an upswing as equipment with telematics and machine control systems gain favor for improving efficiency and cost management on large projects. According to the U.S. Bureau of Economic Analysis, private fixed investment in equipment grew by 4.1% in Q1 2025, supporting demand for machinery in construction operations.
Growing sustainability mandates are influencing machine design as governments encourage lower-emission fleets. As per the U.S. Energy Information Administration, energy consumption from renewable sources increased by 13% in 2024, pushing sectors like construction toward electric and hybrid machinery to meet sustainability targets. Simultaneously, the American Rental Association projects equipment rental revenues in the U.S. to reach nearly USD 74.2 billion in 2025, underscoring how rental models offer flexibility and cost control for businesses navigating uncertain economic conditions. Digitalization trends are fostering predictive maintenance adoption, reducing downtime and ensuring optimal use of heavy equipment.
Manufacturers are navigating challenges tied to fluctuating steel prices and persistent labor shortages that complicate production schedules. According to the U.S. Bureau of Labor Statistics, employment in construction equipment manufacturing remained flat in early 2025 amid skilled labor scarcity. Volatile commodity prices reported by the Federal Reserve Bank influence equipment manufacturing costs, while stricter emissions standards demand significant investment in research and compliance. Despite these hurdles, modernization efforts, rental market expansion, and smart equipment innovations position the sector for steady growth through 2030.
Market Drivers
Infrastructure Investment Surge
Infrastructure programs across transport, energy, and utilities are fueling the demand for robust construction machinery. The U.S. Census Bureau reports that highway and street construction spending alone reached USD 136.9 billion annualized as of April 2025. These projects create persistent requirements for excavators, loaders, and material handling machinery. Federal and state funding initiatives for bridges, rail networks, and renewable energy installations are translating into new machinery purchases. The industry’s dependence on reliable equipment to maintain project schedules is further driving demand. Large-scale infrastructure undertakings ensure sustained investment in advanced, efficient construction equipment across North America.
Key Market Challenges
Skilled Labor Shortage
A persistent shortage of qualified machine operators and technicians hampers construction productivity and delays projects. The U.S. Bureau of Labor Statistics reports the construction industry facing over 440,000 open positions nationwide as of early 2025. Equipment manufacturers struggle to recruit skilled workers for assembly, testing, and servicing of complex machines. Contractors grapple with rising labor costs as they compete for a shrinking pool of experienced personnel. Shortages slow adoption of advanced technologies that require specialized training. This talent gap is an obstacle for projects demanding precision and tight timelines, and may increase dependence on automated solutions in the future.
Key Market Trends
Electric Equipment Uptake
Electric powertrains gain traction as contractors pursue sustainability targets and regulatory compliance. The U.S. Energy Information Administration reports a steady increase in electricity’s share of total energy consumption, signaling broader electrification trends. Electric excavators, loaders, and compact machines appeal for urban sites due to zero emissions and reduced noise levels. Lower operating costs and reduced maintenance requirements further boost interest. Manufacturers are expanding electric portfolios to capture this shifting demand. Although upfront costs remain higher, falling battery prices are making electric machinery increasingly competitive. Contractors view electrification as a pathway to meet sustainability goals and future-proof their fleets.
Key Market Players
- Caterpillar Inc.
- CNH Industrial N.V. (Case Construction, New Holland)
- Deere & Company (John Deere)
- Doosan Infracore North America
- Hitachi Construction Machinery Co., Ltd.
- JCB North America
- Komatsu Ltd.
- Liebherr Group
- Terex Corporation
- Volvo Construction Equipment
In this report, the North America Construction Equipment Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- North America Construction Equipment Market, By Type:
- Loader
- Forklift
- Excavator
- Dozers
- Others
- North America Construction Equipment Market, By Power Output:
- oO100hp
- 101-200hp
- 201-400hp
- >400hp
- North America Construction Equipment Market, By Application:
- Material Handling
- Excavation & Demolition
- Recycling & Waste Management
- Tunnelling
- Others
- North America Construction Equipment Market, By Region:
- United States
- Canada
- Mexic%li%%li%
Company Profiles: Detailed analysis of the major companies presents in the North America Construction Equipment Market.
Available Customizations:
North America Construction Equipment Market report with the given market data, TechSci Research, offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Regions
3.4. Overview of Market Drivers, Challenges, and Trends
4. NORTH AMERICA CONSTRUCTION EQUIPMENT MARKET OUTLOOK
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type Market Share Analysis (Loader, Forklift, Excavator, Dozers, Others)
4.2.2. By Power Output Market Share Analysis (<100hp, 101-200hp, 201-400hp, >400hp)
4.2.3. By Application Market Share Analysis (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunnelling, Others)
4.2.4. By Country Market Share Analysis
4.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
4.3. North America Construction Equipment Market Mapping & Opportunity Assessment
5. UNITED STATES CONSTRUCTION EQUIPMENT MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis
5.2.2. By Power Output Market Share Analysis
5.2.3. By Application Market Share Analysis
6. MEXICO CONSTRUCTION EQUIPMENT MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type Market Share Analysis
6.2.2. By Power Output Market Share Analysis
6.2.3. By Application Market Share Analysis
7. CANADA CONSTRUCTION EQUIPMENT MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type Market Share Analysis
7.2.2. By Power Output Market Share Analysis
7.2.3. By Application Market Share Analysis
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
10. PORTERS FIVE FORCES ANALYSIS
11. DISRUPTIONS: CONFLICTS, PANDEMICS AND TRADE BARRIERS
12. COMPETITIVE LANDSCAPE
12.1. Company Profiles
12.1.1. Caterpillar Inc.
12.1.1.1. Business Overview
12.1.1.2. Company Snapshot
12.1.1.3. Products & Services
12.1.1.4. Financials (As Per Availability)
12.1.1.5. Key Market Focus & Geographical Presence
12.1.1.6. Recent Developments
12.1.1.7. Key Management Personnel
12.1.2. CNH Industrial N.V. (Case Construction, New Holland)
12.1.3. Deere & Company (John Deere)
12.1.4. Doosan Infracore North America
12.1.5. Hitachi Construction Machinery Co., Ltd.
12.1.6. JCB North America
12.1.7. Komatsu Ltd.
12.1.8. Liebherr Group
12.1.9. Terex Corporation
12.1.10. Volvo Construction Equipment
13. STRATEGIC RECOMMENDATIONS
14. ABOUT US & DISCLAIMER
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Regions
3.4. Overview of Market Drivers, Challenges, and Trends
4. NORTH AMERICA CONSTRUCTION EQUIPMENT MARKET OUTLOOK
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type Market Share Analysis (Loader, Forklift, Excavator, Dozers, Others)
4.2.2. By Power Output Market Share Analysis (<100hp, 101-200hp, 201-400hp, >400hp)
4.2.3. By Application Market Share Analysis (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunnelling, Others)
4.2.4. By Country Market Share Analysis
4.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
4.3. North America Construction Equipment Market Mapping & Opportunity Assessment
5. UNITED STATES CONSTRUCTION EQUIPMENT MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis
5.2.2. By Power Output Market Share Analysis
5.2.3. By Application Market Share Analysis
6. MEXICO CONSTRUCTION EQUIPMENT MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type Market Share Analysis
6.2.2. By Power Output Market Share Analysis
6.2.3. By Application Market Share Analysis
7. CANADA CONSTRUCTION EQUIPMENT MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type Market Share Analysis
7.2.2. By Power Output Market Share Analysis
7.2.3. By Application Market Share Analysis
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
10. PORTERS FIVE FORCES ANALYSIS
11. DISRUPTIONS: CONFLICTS, PANDEMICS AND TRADE BARRIERS
12. COMPETITIVE LANDSCAPE
12.1. Company Profiles
12.1.1. Caterpillar Inc.
12.1.1.1. Business Overview
12.1.1.2. Company Snapshot
12.1.1.3. Products & Services
12.1.1.4. Financials (As Per Availability)
12.1.1.5. Key Market Focus & Geographical Presence
12.1.1.6. Recent Developments
12.1.1.7. Key Management Personnel
12.1.2. CNH Industrial N.V. (Case Construction, New Holland)
12.1.3. Deere & Company (John Deere)
12.1.4. Doosan Infracore North America
12.1.5. Hitachi Construction Machinery Co., Ltd.
12.1.6. JCB North America
12.1.7. Komatsu Ltd.
12.1.8. Liebherr Group
12.1.9. Terex Corporation
12.1.10. Volvo Construction Equipment
13. STRATEGIC RECOMMENDATIONS
14. ABOUT US & DISCLAIMER
