Ever been curious how the construction industry ranks? Interested in where it’s headed? Here’s a statistical snapshot of the heavy equipment and construction industries as of 2021. Enjoy!
The Industry Worldwide
Size of construction equipment and heavy equipment market in North America (2018-2026):
- Caterpillar leads the United States and the global market in total construction equipment manufacturing with a $41.7 billion global market share.
- Komatsu trails behind with $31.3 billion.
- While Germany has the largest market for construction equipment within Europe, China is the global leader.
- Emerging market hotspots India and China are projected to see an increase in global construction equipment manufacturing.
The United States
- The United States has one of the largest construction markets, with $1.293 billion currently spent on new construction.
- There are 11.2 million construction employees.
- There are 8.83 million production workers in the construction industry.
- 10.3% of construction workers are female.
- The US construction equipment market size is about $140 billion.
- The US construction industry spends $30.6 billion on advertising.
- US industrial engine exports make up $21.6 billion.
- Heavy equipment rental makes up $46.1 billion of the US market in 2021.
Equipment Operators
- The median wage for construction equipment operators in 2020 was $49,100 ($23.61/hour).
- There are 468,300 equipment operator jobs with an annual growth of 4%, matching the national average.
- 49,500 openings for construction equipment operators are projected each year.
All statistics and visuals are from Statista, IBISWorld, and the US Bureau of Labor Statistics.