Forecasts for the US Construction Equipment Manufacturing Industry (2022 – 2027)

Construction markets are recovering post pandemic, and the equipment manufacturing industry is also expected to return to growth. If you were to look at the trends of the last five years, you would see that the US construction equipment manufacturing industry was quite unstable leading up to 2022 due to the pandemic. However, now that the condition has improved both domestically and internationally, construction equipment is once again in demand. 

Market Research Report

The industry suffered a huge blow when there were reductions in investment and construction activity due to the pandemic in 2020. However, as the economy recovers, business conditions are expected to improve for the construction equipment manufacturing industry in the US. Some economic factors behind this forecast are the increasing levels of construction activity and the dollar’s improving exchange rate. Demand for construction equipment and machinery is expected to increase due to these economic improvements.

During this forecast period, it is expected that there will be an increase in the value of utilities as well as residential and non-residential construction. The government is expected to fund more highway, road, and other construction projects. The current market size of the construction equipment manufacturing industry in the US is 37 billion dollars. 

Biggest Construction Equipment Manufacturers in the US

According to IBISWorld reports, in the US, there are 43 construction equipment manufacturing companies. The biggest are Caterpillar Inc, Deere & Co, Liebherr Group, Volvo Group, and Komatsu Ltd. The equipment manufacturing industry has around 700 businesses and employs over 60,000 people in the US. 

About This Report

Construction equipment manufacturers are responsible for manufacturing equipment and machinery that can carry out construction-related tasks like moving material, digging, and excavating, among other similar activities. Construction equipment like dozers, compact wheel loaders, and excavators are used in the construction of different residential and non-residential infrastructure. This report includes the outlook for the next five years of the construction equipment manufacturing industry and its current performance.