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Road Construction Machinery Market Size (2024 - 2029)

The road construction machinery market is projected to experience significant growth, driven by increased road construction activities and supportive government programs. The market's expansion is fueled by rising investments in road projects, the introduction of electric machinery, and the replacement of outdated fleets. Despite the growing preference for rental machinery services among smaller companies to reduce costs, advancements in digitalization, connectivity, and automation are propelling market development. Additionally, favorable government policies promoting Public-Private Partnerships are expected to further support the market's growth trajectory.

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Market Size of Road Construction Machinery Industry

Road Construction Machinery Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 189.16 Billion
Market Size (2029) USD 231.81 Billion
CAGR (2024 - 2029) 4.15 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Road Construction Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Road Construction Machinery Market Analysis

The Road Construction Machinery Market size is estimated at USD 189.16 billion in 2024, and is expected to reach USD 231.81 billion by 2029, growing at a CAGR of 4.15% during the forecast period (2024-2029).

The increase in road construction activity is expected to drive the demand for road construction machinery. Various government programs, such as stimulus packages and infrastructure developments, encouraged road construction equipment to drive market expansion between 2024 and 2029.

Over the long term, increasing investments in road projects, the launch of electric road construction machinery, and the replacement of older fleets by newer machines are creating demand in the construction equipment industry with a surge in sales of road construction machinery. However, the increasing demand for rental machinery services is expected to act as a restraint for the market's growth, as renting machinery is preferred by small and medium-scale companies to lessen the costs of labor, training, and equipment purchases. ​

Furthermore, digitalization, connectivity, and automation are driving market development forward, substantially impacting construction projects. Construction and construction materials companies are geared up to invest in new technologies to cope with the increasing demand for advanced construction machinery and replace the older ones with new or upgraded machinery fleets. Additionally, an increase in the number of favorable government policies aimed at encouraging the Public-Private Partnership (PPP) model is also expected to bode well for the growth of the road construction equipment market from 2024 to 2029.

Road Construction Machinery Industry Segmentation

Road construction machinery is a type of earth-moving equipment used for the excavation, compaction, and transportation of clay, debris, soil, or rock on road construction projects. Some pieces of road construction machinery like pavers and compactors are used to pave and compress the road surfaces. The term is also applicable to equipment like cement mixers and hot mix or batching plants used to process essential road construction materials, like concrete and tar, on-site.

The road construction equipment market has been segmented by machinery type and geography. By machinery type, the market is segmented into motor graders, road rollers, wheel loaders, concrete mixers, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

For each segment, the market size and forecast are made on the basis of value (USD).

By Machine Type
Motor Graders
Road Roller
Wheel Loaders
Concrete Mixer
Others
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle East and Africa
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Road Construction Machinery Market Size Summary

The road construction machinery market is poised for significant growth over the forecast period, driven by increased road construction activities and supportive government initiatives. The market is expected to expand as infrastructure development projects gain momentum, supported by stimulus packages and public-private partnerships. The introduction of electric road construction machinery and the replacement of older fleets with newer models are further propelling demand. However, the rising preference for rental machinery services by small and medium-sized enterprises may pose a challenge to market growth. Digitalization, connectivity, and automation are also playing crucial roles in advancing the market, as companies invest in new technologies to meet the demand for advanced construction machinery.

Asia-Pacific is anticipated to be a key region in the road construction machinery market, with countries like India and China leading in demand due to their extensive infrastructure projects. The region's growth is bolstered by substantial government investments in road transport infrastructure and the establishment of new production units by equipment manufacturers. The market is moderately fragmented, with several players engaging in strategic initiatives such as joint ventures, mergers, and new product launches to strengthen their market positions. These developments, along with the introduction of innovative machinery, are expected to drive steady growth in the Asia-Pacific market during the study period.

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Road Construction Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rising Infrastructure Development and Highway Construction Activities to Drive the Market

    2. 1.2 Market Restraints

      1. 1.2.1 Lack of Skilled Labor May Hamper the Market Expansion

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market size Value in USD billion)

    1. 2.1 By Machine Type

      1. 2.1.1 Motor Graders

      2. 2.1.2 Road Roller

      3. 2.1.3 Wheel Loaders

      4. 2.1.4 Concrete Mixer

      5. 2.1.5 Others

    2. 2.2 By Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 India

        2. 2.2.3.2 China

        3. 2.2.3.3 Japan

        4. 2.2.3.4 South Korea

        5. 2.2.3.5 Rest of Asia-Pacific

      4. 2.2.4 Rest of the World

        1. 2.2.4.1 South America

        2. 2.2.4.2 Middle East and Africa

Road Construction Machinery Market Size FAQs

The Road Construction Machinery Market size is expected to reach USD 189.16 billion in 2024 and grow at a CAGR of 4.15% to reach USD 231.81 billion by 2029.

In 2024, the Road Construction Machinery Market size is expected to reach USD 189.16 billion.

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