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Market Size

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

Construction Equipment Aftermarket Size

Construction Equipment Aftermarket size surpassed USD 25 billion in 2022 and is expected to record 4% CAGR from 2023 to 2032.  The rising number of construction activities and the surge in government investments for infrastructure development will positively influence the industry outlook.


Rapid urbanization and the increasing population worldwide have led to large-scale mining and excavation activities, propelling the demand for construction equipment. Several mining companies are foraying into strategic deals with equipment providers to boost production, leading to robust sales of equipment spare parts.


The influx of very stringent regulations imposed by several governments across North America and Europe to curb emissions associated with construction equipment will also play an ideal role in the construction equipment aftermarket expansion. The growing emphasis on climate change is encouraging equipment owners to focus on maintenance and replace engine components as well as filtration systems after regular intervals of time.


For instance, in November 2022, the California Air Resources Board (CARB) rolled out an ambitious climate plan to reduce air pollution and greenhouse gas emissions by 71% and 85% respectively by 2045. Such aggressive carbon emission reduction goals and sustainability targets will pave the way for improved industry development.


Ease of availability of low-cost alternatives may hamper product demand

The widespread availability of low-cost construction spare parts and accessories could negatively impact the industry dynamics by 2032. The rising number of third-party suppliers and the higher consumer preference for outsourcing construction spare parts has introduced new challenges for the OEMs, such as Liebherr Group, Caterpillar Inc., and SANY Group. However, the upgradation of vehicles and modernization of engine technologies is expected to add impetus to the market expansion while consolidating the space of aftermarket for construction equipment users as well as suppliers.

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

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Premium Report Details

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