Compact Construction Equipment Market Size - By Equipment (Mini Excavators, Compact Wheel Loaders, Skid Steer Loaders, Compact Track Loaders, Backhoe Loaders), By End User (Construction, Agriculture, Mining, Utility Works), By Application & Forecast, 2024 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Compact Construction Equipment Market Size - By Equipment (Mini Excavators, Compact Wheel Loaders, Skid Steer Loaders, Compact Track Loaders, Backhoe Loaders), By End User (Construction, Agriculture, Mining, Utility Works), By Application & Forecast, 2024 - 2032

Compact Construction Equipment Market Size

Compact Construction Equipment Market was valued at USD 59 billion in 2023 and is likely to register a CAGR of over 4% between 2024 and 2032, due to the increasing investments in expanding manufacturing facilities. Companies including Wacker Neuson Group are allocating significant resources to enhance production capacity and introduce advanced technologies.

To get key market trends

  Download Free Sample

Compact construction equipment offers versatility and efficiency, enabling operators to accomplish diverse tasks with a single machine. From landscaping to utility work, these machines excel in various applications. Their compact size enables easy maneuverability in confined spaces, enhancing productivity on job sites where larger equipment may struggle. As a result, contractors and construction firms favor compact equipment for their ability to streamline operations and optimize resources, thereby contributing to market growth.
 

Compact Construction Equipment Market Report Attributes
Report Attribute Details
Base Year 2023
Compact Construction Equipment Market Size in 2023 USD 59 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4%
2032 Value Projection USD 86.8 Billion
Historical Data for 2018 - 2023
No. of Pages 260
Tables, Charts & Figures 350
Segments covered Equipment Type, Application & End User
Growth Drivers
  • Rise in construction activities
  • Growing investments in infrastructure projects
  • Continuous advancements in the development of compact equipment
  • Surging electrification of compact construction equipment
Pitfalls & Challenges
  • Increasingly stringent emission regulations
  • Intense competition from larger equipment

What are the growth opportunities in this market?

 Download Free Sample

Meeting stringent emission regulations and safety standards poses a significant challenge for compact construction equipment manufacturers. Compliance often necessitates costly upgrades to engine technology and emission control systems, increasing production costs. Moreover, ensuring adherence to evolving safety standards requires continuous investments in research & development. Failure to meet these regulatory requirements may lead to fines & penalties along with undermining brand reputation and market competitiveness. Thus, navigating the regulatory landscape while balancing cost considerations remains a critical challenge for industry players.

Compact Construction Equipment Market Trends

Hey, have you heard about the exciting news in the construction world? Compact machines are getting a major power upgrade with electric motors! It's not just a buzzword; it's a game-changer. These electric machines are not only better for the environment, reducing those pesky emissions, but they're also quieter and cheaper to run. Plus, they're a perfect match for the green goals and regulations that are becoming the norm. One company that's leading the charge is CASE Construction Equipment. They've just added two new electric mini excavators to their lineup, the CX15EV and CX25EV. And guess what? They've got fancy lithium-ion batteries that charge super fast, whether you plug them into a regular outlet or use their special speedy charger. So, if you're looking for ways to upgrade your construction business, going electric is a no-brainer. It's the future, and it's happening now!

Growing advancements in autonomous technology are fostering lucrative growth in the compact construction equipment market. Autonomous features, such as GPS navigation, obstacle detection & automated operation, streamline construction processes, reducing labor costs and enhancing productivity. These technologies also improve safety by minimizing human error and mitigating risks on job sites. As construction firms seek to optimize efficiency and reduce operational expenses, the demand for autonomous compact equipment continues to rise, propelling expansion and innovation in the market.

Compact Construction Equipment Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Based on equipment type, the market is divided into mini excavators, compact wheel loaders, skid steer loaders, compact track loaders, backhoe loaders, and others. In 2023, the skid steer loaders segment is growing at high rate, as the demand for skid steer loaders equipped with higher breakout force capabilities is augmenting segment growth. Higher breakout force enables these machines to tackle more challenging tasks, such as excavation & material handling, with greater efficiency and effectiveness. Furthermore, the driver's station has been redesigned, incorporating an enhanced iteration of Manitou's patented folding door mechanism.

Learn more about the key segments shaping this market

 Download Free Sample

Construction companies have been busy building our homes, roads, and bridges, making up over 43% of the market in 2023. But they're also looking to do it in a more eco-friendly way. One way they're doing this is by using smaller equipment that's powered by electricity or cleaner fuels. These machines are helping to reduce emissions and keep our air cleaner. For example, Volvo Construction Equipment recently teamed up with CRH, a company that makes building materials, to develop more eco-friendly construction methods. They're focusing on using electric machines, setting up charging stations, and using less-polluting fuels and renewable energy sources. These efforts are a big step towards making the construction industry more sustainable and reducing the impact on our environment.

Looking for region specific data?

 Download Free Sample

Asia Pacific is the fastest-growing region in the global compact construction equipment market with a major share of over 45% in 2023, owing to the rapid urbanization in the region, particularly in China, India, and other Southeast Asian countries. As cities expand and populations grow, there is a pressing need for infrastructure development to accommodate urban living. This includes the construction of roads, bridges, residential complexes, and commercial buildings. Compact construction equipment are well-suited for these projects due to their versatility, maneuverability, and ability to operate efficiently in confined urban spaces, boosting product demand in the region.

Compact Construction Equipment Market Share

In the world of compact construction equipment, three giants stand tallCaterpillar, CNH, and XCMG Group. Together, they command a hefty 15% share of the market. Caterpillar, the industry king, boasts an impressive lineup of pocket-sized excavators, nimble wheel loaders, and versatile skid steer loaders. These machines are engineered to tackle any job site with ease, delivering unmatched performance, durability, and efficiency. Caterpillar's customer-centered approach and global reach have made them the undisputed leader. CNH Industrial, with its Case and New Holland brands, brings innovation and reliability to the table. They understand the unique needs of different markets and tailor their machines accordingly. XCMG Group, a rising star from China, has quickly made a name for itself. Their cost-effective and efficient construction solutions have helped them expand their presence worldwide. What sets these companies apart is their unwavering commitment to innovation, quality, and satisfying the demands of their customers. It's this combination that has paved the way for them to become the towering figures in the compact construction equipment industry.

Compact Construction Equipment Market Companies

Major players operating in the compact construction equipment industry are

  • Caterpillar
  • CNH Industrial
  • Deere & Company
  • Kubota Corporation
  • SANY
  • Sumitomo
  • Terex
  • Wacker Neuson SE
  • XCMG
  • Yanmar

Compact Construction Equipment Industry News

  • In February 2024, Develon, previously known as Doosan Construction Equipment, introduced the latest DX17Z-7 zero tail swing and the DX19-7 conventional mini-excavators compliant with Stage V regulations. These new models offer notable enhancements in versatility, performance, operator comfort, and maintenance convenience.
  • In May 2022, Bobcat introduced its newest electric compact excavator, the E32e. With a motor power equivalent to 21.6 horsepower or 16.1 kilowatts, this electric compact excavator maintains full torque consistently across all revolutions per minute (rpm).

This compact construction equipment market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and shipment (Units) from 2018 to 2032, for the following segments

Click here to Buy Section of this Report

Market, By Equipment

  • Mini excavators
  • Compact wheel loaders
  • Skid steer loaders
  • Compact track loaders
  • Backhoe loaders
  • Others

Market, By Application

  • Loading
  • Excavation
  • Material handling
  • Lifting & hoisting
  • Others

Market, By End User

  • Construction
  • Agriculture
  • Mining
  • Utility works
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Nordics
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2018 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material suppliers

3.2.2    Component suppliers

3.2.3    Manufacturers

3.2.4    Rental providers

3.2.5    End-users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news & initiatives

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1    Rise in construction activities

3.8.1.2    Growing investments in infrastructure projects

3.8.1.3    Continuous advancements in the development of compact equipment

3.8.1.4    Surging electrification of compact construction equipment

3.8.2    Industry pitfalls & challenges

3.8.2.1    Increasingly stringent emission regulations

3.8.2.2    Intense competition from larger equipment

3.9    Growth potential analysis

3.10    Porter’s analysis

3.10.1    Supplier power

3.10.2    Buyer power

3.10.3    Threat of new entrants

3.10.4    Threat of substitutes

3.10.5    Industry rivalry

3.11    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Equipment 2018 - 2032 ($Bn, Units)

5.1    Key trends

5.2    Mini excavators

5.3    Compact wheel loaders

5.4    Skid steer loaders

5.5    Compact track loaders

5.6    Backhoe loaders

5.7    Others

Chapter 6   Market Estimates & Forecast, By Application, 2018 - 2032 ($Bn, Units)

6.1    Key trends

6.2    Loading

6.3    Excavation

6.4    Materials handling

6.5    Lifting & hoisting

6.6    Others

Chapter 7   Market Estimates & Forecast, By End-User, 2018 - 2032 ($Bn, Units)

7.1    Key trends

7.2    Construction

7.3    Agriculture

7.4    Mining

7.5    Utility works

7.6    Others

Chapter 8   Market Estimates & Forecast, By Region, 2018 - 2032 ($Bn, Units)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Russia

8.3.6    Spain

8.3.7    Nordics

8.3.8    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    Australia

8.4.6    Southeast Asia

8.4.7    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Argentina

8.5.4    Rest of Latin America

8.6    MEA

8.6.1    UAE

8.6.2    South Africa

8.6.3    Saudi Arabia

8.6.4    Rest of MEA

Chapter 9   Company Profiles

9.1    Bobcat Company

9.2    Caterpillar Inc.

9.3    CNH Industrial (Case and New Holland brands)

9.4    Deere & Company (John Deere)

9.5    Hitachi Construction Machinery

9.6    Hyundai Construction Equipment

9.7    JCB (JC Bamford Excavators Ltd.)

9.8    King Machinery

9.9    Kobelco Construction Machinery Co., Ltd.

9.10    Komatsu Ltd.

9.11    Kubota Corporation

9.12    SANY Heavy Industry Co., Ltd.

9.13    Sumitomo Construction Machinery

9.14    Takeuchi Manufacturing

9.15    Terex Corporation

9.16    Volvo Construction Equipment

9.17    Wacker Neuson SE

9.18    XCMG Group

9.19    Yanmar Co., Ltd.

9.20    Zoomlion Heavy Industry Science & Technology Co., Ltd.

  • Caterpillar
  • CNH Industrial
  • Deere & Company
  • Kubota Corporation
  • SANY
  • Sumitomo
  • Terex
  • Wacker Neuson SE
  • XCMG
  • Yanmar

Related Reports

Table of Content

Will be Available in the sample /Final Report. Please ask our sales Team.

List Tables Figures

Will be Available in the sample /Final Report. Please ask our sales Team.

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email