The construction equipment market is projected to exceed $236.9 billion by 2031, growing at a CAGR of 5.3% from 2024 to 2031, driven by increased government spending on infrastructure, a push for enhanced efficiency, and the rise in automation. Despite challenges such as stringent trade policies, high equipment costs, and a shortage of skilled operators, the market is buoyed by trends like the growing demand for compact and electric equipment. In 2024, material handling equipment is expected to hold the largest market share due to industrialization and modernization efforts, while earth-moving equipment will see the highest CAGR due to expanding construction projects. The ICE segment will dominate by propulsion type, but electric equipment is anticipated to grow rapidly due to lower operating costs and supportive policies. Construction companies will continue to lead in end-user share and growth, driven by infrastructure investments and technology adoption. Regionally, Asia-Pacific is set to hold the largest market share and highest growth rate, supported by significant investments and infrastructure development. Major players include Caterpillar, CNH Industrial, Deere & Company, and others.