How big is the Construction Vehicles Market | Industry Projections 2025

Q: What is the current market size of the construction vehicles market in USD?

The market size is valued at approximately USD 168.5 billion in 2024.

Q: What is the expected CAGR for the construction vehicles market between 2024 and 2031?

The market is projected to grow at a CAGR of 5.3% during the forecast period.

Q: What are the major factors driving growth in the construction vehicles market?

Key factors include infrastructure development, urbanization, and innovation in vehicle technologies.

Q: Which companies lead the global construction vehicles market?

Major players include Caterpillar, Komatsu, Volvo CE, and Hitachi Construction Machinery.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA4959

Publication Date: Jul 2025

What is the Construction Vehicles Market Size?

According to 6Wresearch internal database and industry insights, the Global Construction Vehicles market was valued at USD 168.5 billion in 2024 and is anticipated to exceed USD 241.3 billion by 2031, registering a steady at a CAGR of 5.3% during the forecast period.

The construction vehicles market is experiencing steady growth due to fast growth of cities, programs to build more infrastructure, and more money going into building homes and businesses. Technological progress, government assistance for smart city projects, and more people using fuel-efficient and electric construction equipment all help to drive demand.

Major Growth Factors of the Construction Vehicles Industry

Increasing urban infrastructure projects
Advancements in autonomous vehicle technology
Expansion of mining and road-building sectors
Rising demand for fuel-efficient vehicles
Government infrastructure investments
Growing popularity of electric construction equipment

Construction Vehicles Market Trends

The market is witnessing a shift toward electric and hybrid construction trucks, which are needed for operations that are good for the environment. New cars are starting to come with automation and telematics built in. Urban contractors are increasingly interested in small, multi-purpose machines that can work in tight locations.

Emerging Developments in the Construction Vehicles Industry

Companies are focusing on introducing AI-enabled construction vehicles with added safety features. There are also more partnerships between tech companies and manufacturers that combine IoT, predictive maintenance, and remote operating systems. Also, strategic moves into underdeveloped economies are happening faster.