The BRICS Heavy Construction Equipment Market size is expected to reach US$ 105.16 million by 2031 from US$ 64.80 million in 2024. The market is estimated to record a CAGR of 6.23 % from 2023 to 2031.
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Executive Summary and BRICS Heavy Construction Equipment Market Analysis:
The BRICS heavy construction equipment market has been experiencing steady growth. This growth can be attributed to several key factors, such as government initiatives for infrastructure development, growing construction activities, and rapid urbanization. The construction and infrastructure industry in China has witnessed transformative developments driven by rapid economic growth and the nation’s ascent as a global economic powerhouse. China is one of the largest construction markets worldwide.
In March 2024, the government of China announced its target to fund US$ 173 billion (CNY 1.2 trillion) in transport infrastructure projects by the end of 2024. Furthermore, in March 2024, the Yangtze River Delta region government announced an investment of US$ 19.6 billion (CNY 140 billion) to build 32 railway infrastructure projects. In February 2024, the Shanghai government announced its target to initiate work on 24 projects with a combined investment of US$ 5.8 billion (CNY 42.1 billion).
BRICS Heavy Construction Equipment Market Segmentation Analysis
Key segments that contributed to the derivation of the Heavy Construction Equipment market analysis are type and application.
- By machinery type, the heavy construction equipment market is segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, others. The earthmoving equipment segment held a larger share of the market in 2024.
- In terms of propulsion type, the market is segmented into ICE, electric. The ICE segment held the largest share of the market in 2024.
- In terms of power output, the market is segmented into less than 100 HP, 101-200 HP, 201-400, 401 HP. The 201-400 HP segment held the largest share of the market in 2024
- By End Use Industry, the market is segmented into building and construction, forestry and agriculture, energy and power, mining, others. building and construction segment held the largest share of the market in 2024.
BRICS Heavy Construction Equipment Market Outlook
The infrastructure and construction industry in India has experienced significant growth and transformation in recent years, spurred by a surge in the country’s economic development. The construction industry comprises real estate and urban development. The real estate segment covers office, residential, retail, leisure parks, and hotels, while urban development largely consists of subsegments such as sanitation, water supply, schools, urban transport, and healthcare development.
India plans to invest ~US$ 1.723 trillion (INR 143 trillion) in infrastructure between FY2024 and FY2030. In the Interim Budget 2024–2025, capital investment outlay for infrastructure has been increased by ~11.1% to US$ 133.86 billion, i.e., ~3.4% of India’s GDP.
The rise of smart cities and modern infrastructure to meet the developing needs of the urban population is boosting the application of construction equipment in India. Cities such as Bangalore, Hyderabad, and Mumbai are focusing on developing proper water and wastewater treatment facilities, which is driving the construction activities in the city. Key airports such as Indira Gandhi International Airport in Delhi and Chhatrapati Shivaji Maharaj International Airport in Mumbai have undergone substantial expansions and modernization efforts. The rise in infrastructure development projects in India has created a massive demand for the heavy construction equipment market growth during the forecast period.
BRICS Heavy Construction Equipment Market Country Insights
Based on Geography, the BRICS Heavy Construction Equipment Market comprises of Brazil, Russia, India, China, South Africa, Egypt, Indonesia, and UAE. The China held the largest share in 2024.
According to the government’s transportation network planning outline, China aimed to add 400 airports by 2035, an increase from ~240 airports in 2022. China’s 32 large and busy airports are suffering from capacity overload, and 40 of the country’s 50 largest airports need renovation or expansion, according to the Civil Aviation Administration of China (CAAC). China’s 14th Five-Year Plan covers 140 airport projects, including greenfield construction, relocation, renovation, and expansion by the end of 2025. With such sustained investments and a focus on innovation toward infrastructure, China continues to shape its construction sector to accommodate escalating development and assert its positive impact on the heavy construction equipment market.
The government of China plays a pivotal role in driving the demand for heavy construction equipment through its extensive infrastructure investment programs. Major initiatives such as the Belt and Road Initiative (BRI), Made in China 2025, and the 13th Five-Year Plan prioritize large-scale infrastructure projects, including highways, railways, airports, ports, and bridges. These projects are crucial for China’s economic development and require construction machinery for site preparation, construction, and maintenance.
BRICS Heavy Construction Equipment Market Report Highlights
| Attribute | Details |
| Market Size (2024) | US$ 64.80 Million |
| Market Size (2031) | US$ 105.16 Million |
| CAGR (2025–2031) | 6.23% |
| Historical Data | 2022–2023 |
| Forecast Period | 2025–2031 |
| Segments Covered | Machinery Type, Propulsion Type, Power Output, End Use Industry |
| Machinery Type | Earthmoving, Material Handling, Heavy Construction Vehicles |
| Propulsion Type | ICE, Electric |
| Power Output | <100 HP, 101–200 HP, 201–400 HP, 401+ HP |
| End Use Industry | Construction, Forestry & Agriculture, Energy & Power, Mining |
| Regions Covered | BRIC (Brazil, Russia, India, China) |
BRICS Heavy Construction Equipment Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report:
- Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
- Company websites, annual reports, financial statements, broker analyses, and investor presentations.
- Industry trade journals and other relevant publications.
- Government documents, statistical databases, and market reports.
- News articles, press releases, and webcasts specific to companies operating in the market.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
