The global Construction Equipment Aftermarket accounted for US$ 20.9 Bn in 2020 with a considerable CAGR of 5.1% during the forecast period of 2021 to 2028.
Construction equipment aftermarket is growing at a significant rate owing to the rising construction activities across the globe. Rapid urbanization and industrialization that have led to increased demand for construction activities drive the global construction equipment aftermarket. Rising construction activities lead to continuous usage of light-heavy construction equipment, which at some point works out of order. Thus, aftermarket companies replace defective/non-performing equipment with new ones, which considerably saves the cost of replacement and equipment.
Market Drivers
Growing construction activities across the world drives the growth of market
The future of the construction industry looks good with high opportunities in industrial, residential, as well as non-residential sectors. This is attributed to the increasing housing construction and rising infrastructure due to the growing population. The scale of global construction is constantly expanding. The key potential region where construction activities are carried out hugely is Asia-Pacific. China and India dominated the construction equipment aftermarket in the APAC region, with China expected to become the largest construction industry in the coming future. However, developed regions such as North America and Europe are also likely to gain significant impetus owing to the factors such as the rising trend of affordable housing and increasing demand from green construction to reduce carbon footprints. Therefore, these trends of construction activities across the world are contributing towards the global construction equipment aftermarket.
Growing awareness for construction equipment due to its performance and efficiency
Construction equipment saves time, labor costing, and works efficiently throughout the day. Construction equipment performs timely, which helps for the completion of projects. This equipment increases productivity and offers higher profitability with the avoidance of delay penalties. Advancement and innovation in the construction equipment industry have led equipment to perform multiple tasks to save time. In addition, they can perform tasks that are too heavy or too delicate for human muscles. Construction equipment can maintain a planned rate of production where there is a shortage of skilled or non-skilled labors.
Report coverage
| Market |
Construction Equipment Aftermarket |
| Analysis Period |
2017 - 2028 |
| Base Year |
2020 |
| Forecast Data |
2021 - 2028 |
| Segments Covered |
By Equipment Type, By Application, By Sales Channel, and By Geography |
| Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled |
Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., John Deere, Kobelco Construction Machinery Co., Ltd., Liebherr Group, Palfinger AG, Tadano Limited, Terex Corporation, The Manitowoc Company, Inc., Sany Global, Volvo Construction Equipment, and Zoomlion Heavy Industry Science and Technology Co., Ltd. among others.
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope |
10 hrs of free customization and expert consultation
|
Market Segmentation
Construction equipment aftermarket is segmented based on equipment type, application, and sales channel. Based on equipment type, the market is segregated into earthmoving and road-building equipment, material handling and cranes, and concrete equipment. Based on application, the segment is categorized as infrastructure, commercial, and residential. Further, the sales channel segment is bifurcated into online and offline.
Among equipment types, earthmoving equipment is expected to conquer the largest market share due to the increasing urban population and demand for better infrastructure amenities. However, the concrete equipment segment is likely to witness significant demand, owing to the ongoing road building and infrastructure activities in the APAC region. Additionally, based on application, the infrastructure segment recorded the maximum share for the projection period of 2021 to 2028 due to the rising industrialization across the world. The residential, as well as commercial segments, are also flourishing with a substantial rate in the emerging economies due to robust urbanization in the regions. Furthermore, by sales channel, the online channel is likely to grow with positive CAGR during the forecast period of 2021 to 2028. The shutdown of offline stores due to the COVID-19 outbreak has surged the demand for online sales channels.
Regional Overview
Asia-Pacific region is expected to lead global construction equipment aftermarket during the projected period of 2021 to 2028
Asia-Pacific region holds the dominating share of the construction equipment aftermarket and is expected to continue its trend throughout the forecast period. Growing construction activities in projects such as airports, dams, and hydroelectric projects fuel the APAC market. In addition, growing government investments in infrastructure development and a surge in residential projects in countries such as China and India further drives the regional market growth.
China holds supremacy in the APAC region owing to the presence of large and small market players that are manufacturing aftermarket equipment in bulk. China has the world’s best construction equipment supply chain, with all parts of the supply chain being in China. On the other hand, India accounted for the second position in the region, owing to the rising government investment in infrastructure development. For instance, the Government of India invested US$ 1.4 trillion in the infrastructure sector through National Infrastructure Pipeline (NIP) program till 2020 with key segments such as airports, railways, highways, and urban infrastructure.
Europe has seen significant growth in recent decades owing to the positive growth in online sales channels. In addition, the construction industry in this region has been rapidly expanding over the years. This is expected to be a major driver of the construction equipment aftermarket in the coming years.
Furthermore, the construction equipment aftermarket market in the Middle East & Africa is experiencing moderate growth, owing to upcoming infrastructure projects and government initiatives such as UAE Vision 2021, Saudi Vision 2021, and Turkey Vision 2023.
Competitive Landscape
The prominent players of the global Construction Equipment Aftermarket involve Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., John Deere, Kobelco Construction Machinery Co., Ltd., Liebherr Group, Palfinger AG, Tadano Limited, Terex Corporation, The Manitowoc Company, Inc., Sany Global, Volvo Construction Equipment, and Zoomlion Heavy Industry Science and Technology Co., Ltd. among others.
Market Segmentation
Market By Equipment Type
- Earthmoving and Road building Equipment
- Material Handling and Cranes
- Concrete Equipment
Market By Application
- Infrastructure
- Residential
- Commercial
Market By Sales Channel
Market By Geography
- North America
- Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Construction Equipment Aftermarket
1.1. Definition and Scope
1.1.1. Definition of Construction Equipment Aftermarket
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Construction Equipment Aftermarket
1.2. Summary
1.2.1. Executive Summary
1.2.2. Construction Equipment Aftermarket By Equipment Type
1.2.3. Construction Equipment Aftermarket By Application
1.2.4. Construction Equipment Aftermarket By Sales Channel
1.2.5. Construction Equipment Aftermarket by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Construction Equipment Aftermarket
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Construction Equipment Aftermarket
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.8.3. Proportion of Manufacturing Cost Structure
3.8.3.1. Raw Material
3.8.3.2. Labor Cost
3.8.3.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2019
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2019
4.2. R&D Status and Application Source of Construction Equipment Aftermarket Major Manufacturers in 2019
CHAPTER 5. Construction Equipment Aftermarket By Equipment Type
5.1. Introduction
5.2. Construction Equipment Aftermarket Revenue By Equipment Type
5.2.1. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast, By Equipment Type, 2017-2028
5.2.2. Earthmoving and Roadbuilding Equipment
5.2.2.1. Earthmoving and Roadbuilding Equipment Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
5.2.3. Material Handling and Cranes
5.2.3.1. Material Handling and Cranes Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
5.2.4. Concrete Equipment
5.2.4.1. Concrete Equipment Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 6. Construction Equipment Aftermarket Revenue By Application
6.1. Introduction
6.2. Construction Equipment Aftermarket Revenue (US$ Bn) By Application
6.2.1. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
6.2.2. Infrastructure
6.2.2.1. Infrastructure Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
6.2.3. Residential
6.2.3.1. Residential Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
6.2.4. Commercial
6.2.4.1. Commercial Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 7. Construction Equipment Aftermarket By Sales Channel
7.1. Introduction
7.2. Construction Equipment Aftermarket Revenue (US$ Bn) By Sales Channel
7.2.1. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
7.2.2. Online
7.2.2.1. Online Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
7.2.3. Offline
7.2.3.1. Offline Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 8. North America Construction Equipment Aftermarket By Country
8.1. North America Construction Equipment Aftermarket Overview
8.2. U.S.
8.2.1. U.S. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
8.2.2. U.S. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
8.2.3. U.S. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
8.3. Canada
8.3.1. Canada Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
8.3.2. Canada Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
8.3.3. Canada Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
8.4. North America PEST Analysis
CHAPTER 9. Europe Construction Equipment Aftermarket By Country
9.1. Europe Construction Equipment Aftermarket Overview
9.2. U.K.
9.2.1. U.K. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
9.2.2. U.K. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
9.2.3. U.K. Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
9.3. Germany
9.3.1. Germany Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
9.3.2. Germany Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
9.3.3. Germany Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
9.4. France
9.4.1. France Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
9.4.2. France Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
9.4.3. France Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
9.5. Spain
9.5.1. Spain Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
9.5.2. Spain Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
9.5.3. Spain Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
9.6. Rest of Europe
9.6.1. Rest of Europe Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
9.6.2. Rest of Europe Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
9.6.3. Rest of Europe Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
9.7. Europe PEST Analysis
CHAPTER 10. Asia Pacific Construction Equipment Aftermarket By Country
10.1. Asia Pacific Construction Equipment Aftermarket Overview
10.2. China
10.2.1. China Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.2.2. China Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.2.3. China Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.3. Japan
10.3.1. Japan Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.3.2. Japan Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.3.3. Japan Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.4. India
10.4.1. India Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.4.2. India Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.4.3. India Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.5. Australia
10.5.1. Australia Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.5.2. Australia Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.5.3. Australia Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.6. South Korea
10.6.1. South Korea Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.6.2. South Korea Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.6.3. South Korea Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.7. Rest of Asia-Pacific
10.7.1. Rest of Asia-Pacific Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
10.7.2. Rest of Asia-Pacific Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
10.7.3. Rest of Asia-Pacific Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
10.8. Asia Pacific PEST Analysis
CHAPTER 11. Latin America Construction Equipment Aftermarket By Country
11.1. Latin America Construction Equipment Aftermarket Overview
11.2. Brazil
11.2.1. Brazil Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
11.2.2. Brazil Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
11.2.3. Brazil Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
11.3. Mexico
11.3.1. Mexico Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
11.3.2. Mexico Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
11.3.3. Mexico Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
11.4. Rest of Latin America
11.4.1. Rest of Latin America Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
11.4.2. Rest of Latin America Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
11.4.3. Rest of Latin America Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
11.5. Latin America PEST Analysis
CHAPTER 12. Middle East & Africa Construction Equipment Aftermarket By Country
12.1. Middle East & Africa Construction Equipment Aftermarket Overview
12.2. GCC
12.2.1. GCC Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
12.2.2. GCC Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
12.2.3. GCC Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
12.3. South Africa
12.3.1. South Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
12.3.2. South Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
12.3.3. South Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
12.4. Rest of Middle East & Africa
12.4.1. Rest of Middle East & Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Equipment Type, 2017-2028
12.4.2. Rest of Middle East & Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Application, 2017-2028
12.4.3. Rest of Middle East & Africa Construction Equipment Aftermarket Revenue (US$ Bn) and Forecast By Sales Channel, 2017-2028
12.5. Middle East & Africa PEST Analysis
CHAPTER 13. Player Analysis Of Construction Equipment Aftermarket
13.1. Construction Equipment Aftermarket Company Share Analysis
13.2. Competition Matrix
13.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2. New Product Launches and Product Enhancements
13.2.3. Mergers And Acquisition In Global Construction Equipment Aftermarket
13.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14. COMPANY PROFILE
14.1. Caterpillar Inc.
14.1.1. Company Snapshot
14.1.2. Business Overview
14.1.3. Financial Overview
14.1.3.1. Revenue (US$ Bn), 2019
14.1.3.2. Caterpillar Inc. 2019 Construction Equipment Aftermarket Business Regional Distribution
14.1.4. Product/ Service and Specification
14.1.5. Recent Developments & Business Strategy
14.1.6. Manufacturing Plant Footprint Analysis
14.2. Hitachi Construction Machinery Co., Ltd.
14.3. John Deere
14.4. Kobelco Construction Machinery Co., Ltd.
14.5. Liebherr Group
14.6. Palfinger AG
14.7. Tadano Limited
14.8. Terex Corporation
14.9. The Manitowoc Company, Inc.
14.10. Sany Global
14.11. Volvo Construction Equipment
14.12. Zoomlion Heavy Industry Science and Technology Co., Ltd.
