Home > Construction > Construction Equipment > Construction Equipment Aftermarket

Market Analysis

  • Report ID: GMI5131
  • Published Date: Jan 2023
  • Report Format: PDF

Construction Equipment Aftermarket Analysis

Construction equipment aftermarket valuation from material handling & cranes reached over USD 5 billion in 2022. A strategic rise in modern infrastructure projects and urban development activities has fuelled the adoption of cranes and material handling systems, accelerating the demand for spare parts such as valves, slewing motors, role wires, and hydraulic cylinders. Recent technological breakthroughs and advancements have made way for superior mobile crane models featuring improved loading capacity and multi-activity capabilities. For example, in January 2022, Liebherr extended the portfolio of its all-terrain cranes with the new LTM 1300-6.3 mobile crane featuring a 90-meter telescopic boom.

Europe is estimated to account for nearly 25% aftermarket share of the construction equipment by 2032. Increasing focus on climate change, pollution, and greenhouse gas emissions has led to the deployment of strict regulations on emissions for mobile machinery. Several regional players are scaling up efforts to introduce advanced construction equipment and spare parts to ensure the fuel efficiency of diesel engines and compliance with government guidelines. Moreover, the advent of electric construction equipment across the continent will augment the market progression.

The industry size from the offline sales channel segment is attain 4% gains between 2023 and 2032. The significant boom in the offline sales of aftermarket products can be attributed to the growing efforts of major market participants to expand their warehouse facilities and enhance production output. With thriving construction activities, the need for robust supply has encouraged manufacturers and distributors to ramp up their operations.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The aftermarket for construction equipment surpassed USD 25 billion in 2022 and is expected to record over 4% CAGR from 2023-2032, according to GMI report.

The material handling & cranes market reached USD 5 billion in 2022 due to a surge in modern infrastructure projects and urban development activities.

Europe construction equipment aftermarket is estimated to attain 25% gains through 2032 owing to increasing preference for electric equipment

Komatsu Ltd., Caterpillar, Inc., SANY Group, XCMG Group, Terex Corporation, Tadano Ltd., and Liebherr Group are some of the major companies in the business scenario.

Construction Equipment Aftermarket Scope

Buy Now

Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 296
  • Countries covered: 16
  • Pages: 190
 Download Free Sample