How Big Is the Machinery and Equipment Market | Share, Size & Projections 2025

Q: How big is the machinery and equipment market?

The machinery and equipment market was valued at USD 421.5 billion in 2024 and is projected to exceed USD 620.8 billion by 2031.

Q: What is influencing demand in the machinery and equipment market?

The machinery and equipment market is being shaped by increased automation and demand for high-efficiency equipment across industries.

Q: How is competition evolving in the machinery and equipment market?

The machinery and equipment market is highly competitive, with companies focusing on machine intelligence and long-term service solutions.

Q: Who are the key players in the machinery and equipment market?

Caterpillar, Komatsu, Hitachi Construction Machinery, and Deere & Company are among the key companies leading the machinery and equipment market.

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?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA7204

Publication Date: Aug 2025

How Big Is the Machinery and Equipment Market?

According to 6Wresearch internal database and industry insights, the machinery and equipment market was valued at USD 421.5 billion in 2024 and is expected to exceed USD 620.8 billion by 2031, growing at a CAGR of 5.7%.

Industrial modernization, automation, and infrastructure investments are generating demand for smarter and more advanced machinery across sectors like construction, mining, energy, and agriculture, as market growth continues steadily.

Growth Factors of the Machinery and Equipment Market

Strong demand from infrastructure and civil construction projects.
Expansion of smart manufacturing and digitally controlled machines.
Increased agricultural mechanization in emerging economies.
Modernization of power, water, and transportation systems.
Demand for energy-efficient and low-emission machinery.
Ongoing replacement of aging industrial and heavy-duty equipment.

Machinery and Equipment Market Trends

The machinery and equipment market is experiencing an increased adoption of predictive maintenance, telematics, and real-time monitoring systems. Manufacturers have begun to embrace automation, remote diagnostics, and digital twins to increase intelligence in their machines, while reducing downtime, as well as improving operations.

Emerging Developments in the Machinery and Equipment Market

The machinery and equipment market continues to transform with hybrid and electric-powered equipment, modular designs, and cloud-based asset management platforms. Vendors are launching machines with artificial intelligence (AI) for self-adjusting performance, and are exploring subscription models for equipment leverage to improve accessibility.

List of Leading Companies in the Machinery and Equipment Market

Below is a comprehensive list of the leading market players driving growth in this sector –

1. Caterpillar Inc.

Company Name	Caterpillar Inc.
Established Year	1925
Headquarters	Deerfield, United States
Official Website	Click Here

One of the top producers of industrial gas turbines, diesel-electric locomotives, and mining and construction equipment worldwide is Caterpillar.

2. Komatsu Ltd.

Company Name	Komatsu Ltd.
Established Year	1921
Headquarters	Tokyo, Japan
Official Website	Click Here

Known for its dependability in a wide range of machinery solutions, Komatsu is a multinational manufacturer of mining, construction, and military equipment.

3. Deere & Company (John Deere)

Company Name	Deere & Company (John Deere)
Established Year	1837
Headquarters	Moline, United States
Official Website	Click Here

With a focus on sustainability and innovation, John Deere is a well-known brand for forestry, construction, and agricultural equipment worldwide.

4. Hitachi Construction Machinery Co., Ltd.

Company Name	Hitachi Construction Machinery Co., Ltd.
Established Year	1970
Headquarters	Tokyo, Japan
Official Website	Click Here

Hitachi Construction Machinery is renowned for producing high-performance, energy-efficient heavy machinery for the mining and construction industries.

5. Volvo Group

Company Name	Volvo Group
Established Year	1927
Headquarters	Gothenburg, Sweden
Official Website	Click Here

With a strong emphasis on automation and sustainable mobility, Volvo Group is a major manufacturer of trucks, buses, construction equipment, and industrial engines.

6. CNH Industrial N.V.

Company Name	CNH Industrial N.V.
Established Year	2013
Headquarters	London, United Kingdom
Official Website	Click Here

CNH Industrial specializes in digital transformation and manufactures construction and agricultural equipment under brands like Case IH, New Holland, and Steyr.

7. Atlas Copco AB

Company Name	Atlas Copco AB
Established Year	1873
Headquarters	Nacka, Sweden
Official Website	Click Here

Atlas Copco is a key supplier of industrial tools, compressors, and construction equipment, emphasizing productivity, energy efficiency, and innovation.

8. Liebherr Group

Company Name	Liebherr Group
Established Year	1949
Headquarters	Bulle, Switzerland
Official Website	Click Here

Liebherr is a diversified equipment manufacturer producing cranes, aerospace systems, and refrigeration units, with a strong engineering legacy.

9. Doosan Bobcat Inc.

Company Name	Doosan Bobcat Inc.
Established Year	1947
Headquarters	Seoul, South Korea
Official Website	*Click Here*

Doosan Bobcat is known for compact construction equipment such as skid-steer loaders and mini excavators, catering to infrastructure, agriculture, and landscaping needs.

10. Terex Corporation

Company Name	Terex Corporation
Established Year	1933
Headquarters	Norwalk, United States
Official Website	Click Here

Terex specializes in lifting and material handling solutions including aerial work platforms and cranes, with a strong presence in infrastructure and construction sectors.