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A new report published by Allied Market Research, titled, "Heavy Construction Equipment Market: Global Opportunity Analysis and Industry Forecast, 2014 - 2022," projects that the global heavy construction equipment market is expected to reach $193,245 million by 2022. Earthmoving equipment segment dominated the global market in 2015, and is expected to maintain this trend from 2016 to 2022. Asia-Pacific dominated the global market in 2015, accounting for more than 44% share.

The global heavy construction equipment market is driven by factors such as improved involvement in private sector, tremendous growth in real estate sector, improved economic conditions, and residential & commercial infrastructure set-up in emerging economies. According to the World Urbanization Prospect, about 54% of global population belonged to urban areas in 2014, and is expected to increase to 66% by 2050, thereby boosting the market growth. Increasing government initiatives towards infrastructure development supplements the market growth. Moreover, growing public-private partnerships between government and private sector companies for the construction of public infrastructure systems in countries such as India and China have fueled the market growth. The Indian Government has heavily invested in the development of roads, railway tracks, airports, and overall infrastructure development, which involve the use of excavators, loaders, and other such heavy machinery. Designing and developing smart, internet-enabled, fuel & energy-efficient machinery by key market players have fueled the market growth.

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