The global construction machinery industry is impressive and scope, exemplified by its global market size of $337 billion in 2023.ย With an eye on 2027, the construction machinery market is projected to reach a staggering $458.34 billion, driven by a continuous 8% compound annual growth rate (according to The Business Research Companyโs โConstruction Machinery Global Market Report 2023โ.)
The industryโs size reflects its critical role in large-scale building projects and infrastructure development worldwide. This robust performance is further highlighted by the significant revenues generated by the top construction equipment manufacturers, who are not just the backbone of this sector but also the drivers of technological advancements and efficiency in the field.