Panorama and Trend Analysis of European and American Construction Machinery Market (2025)

I. Overall Market Size and Regional Pattern

As the core market for global construction machinery, the European and American markets show the characteristics of steady growth and low-carbon transformation:

North American market: With a scale of US$74.8 billion in 2024, it accounts for 35% of the world and remains the world's largest market. It is expected to grow to US$92.3 billion by 2030, with an average annual compound growth rate of about 3.7%9. The core driving force comes from the revival of the US manufacturing industry (manufacturing investment increased by 80% year-on-year in Q1 2024) and the expansion of the mining industry (non-fuel mineral output value reached US$98.2 billion in 2022)68.

European market: The scale reached US$39.4 billion in 2024 (accounting for 18.5% of the world), and is expected to increase to US$47.3 billion in 20309. Germany, the United Kingdom, and Italy are key growth engines, among which Germany leads Western Europe with a US$49.7 billion railway upgrade plan, accounting for more than 40% of the regional share2.

Highlights of segmented equipment demand:

Wheel excavators: The European market is valued at $350 million in 2024 and is expected to expand at an annual rate of 6.9% by 2034, driven by urban renewal and emission regulations2.

Loaders: The US market reached $5.94 billion in 2024 and is expected to increase to $8.79 billion in 2034, with municipal services and intensive agriculture as the core application scenarios6.

II. Competitive landscape: European giants and North American leaders

The European and American markets are dominated by local giants, but Chinese manufacturers are accelerating their penetration:

European leading companies (2025 global TOP50)

Liebherr: Europe's largest construction machinery company, with annual sales of $12.4 billion (89.3 billion yuan), fifth in the world, and significant advantages in tower cranes and mining equipment15.

Volvo Construction Equipment: Eighth in the world, with annual sales of $8.35 billion. Recently invested 2.5 billion Swedish kronor to upgrade bases in South Korea, Sweden, and North America, and strengthen localized production to reduce supply chain risks3.

JCB: A long-established British manufacturer, the ninth in the world (US$7.4 billion), dominates the excavator and loader market, and has invested over 100 million pounds in the development of hydrogen engines1.

North American leading company

Caterpillar: No. 1 in the world, with sales of US$37.8 billion, accounting for 15.9% of the world, covering the entire series of excavators and loaders510.

John Deere: No. 3 in the world (US$12.96 billion), a comprehensive giant in agricultural and engineering machinery7.

Table: Characteristics of wheeled excavator markets in major European and American countries (2025)

Region Representative countries Core demand drivers Technology preferences

Western Europe Germany Railway investment of US$49.7 billion, urban renewal Electrification, remote monitoring (65% of new machines equipped)

Northern Europe United Kingdom Smart cities, US$700 billion infrastructure plan Hybrid power (30% expected)

Southern Europe Italy Historical block renovation, subway construction Compact, low-noise accessories

III. Product technology trends: Electrification and intelligence lead innovation

Technology evolution in the European and American markets revolves around the dual main lines of "zero carbon" and "intelligence":

Electrification breakthroughs:

Volvo launches the EW240 electric material processor directly connected to the grid, meeting Stage V emission standards2.

Liebherr and Wacker Neuson develop hybrid models, and German policies require urban projects to give priority to zero-emission equipment2.

JCB hydrogen excavator loader obtains UK road driving permit, opening a new stage of "zero-carbon construction"1.

Intelligent upgrade:

Remote control: Hitachi Construction Machinery launched the RBT series hydraulic excavator, which supports one-button switching of robot mode and is suitable for dangerous working conditions2.

Data interconnection: 60% of new machines in Germany are equipped with remote monitoring systems to analyze fuel consumption, performance and maintenance needs in real time2.

Miniaturization and multifunctional design:

Sany Heavy Industry launched the ST230V skid loader for Europe and the United States, which can quickly replace 12 types of accessories in 20 seconds to meet the needs of narrow historical blocks4.

Small excavators <10 tons have the fastest growth, accounting for 40% of the European wheeled excavator market and are suitable for urban public works210.

IV. Market segments: Demand differences between wheeled excavators and loaders

Application scenarios of wheeled excavators in Europe

≤3m³ bucket: Dominant market (US$300 million in 2024), used for public utilities and old urban area renovation2.

3-6m³ bucket: Main force in highway construction, compatible with a variety of accessories (breakers, grabs, etc.)2. Core demand for loaders in North America

All-season applicability: Wood chippers and snowplow attachments are standard, serving farms and municipal emergencies4.

Expansion of the rental market: Short-term rentals reduce the financial pressure on contractors and promote equipment turnover rate610.

Table: Forecast of the European and American construction machinery market (US$ billion)

Region 2024 scale 2025 forecast 2030 forecast Growth momentum

North America 748 737 923 Manufacturing return, mining recovery

Europe 394 390 473 Green infrastructure, urban renewal

China 234 269 570 Equipment renewal, new infrastructure

V. Internationalization path of Chinese companies

Chinese companies enter the high-end market in Europe and the United States through product localization and capacity layout:

Sany Heavy Industry: ST230V passed CE certification and Tier 4 emission standards, set up 6 parts centers in Germany and the United States, and achieved 4-hour fault response4.

XCMG and Sany: Ranked among the top ten in the world (12.77 billion/10.83 billion US dollars), with technology benchmarking Liebherr57.

Supply chain restructuring: Volvo transfers Shandong Lingong’s equity, integrates Chinese suppliers into the global system, and Jinan Technology Center serves global R&D3.

VI. Future challenges and opportunities

Challenges: High initial cost of electric equipment (30% more expensive than traditional models), insufficient tire durability increases maintenance costs2.

Opportunities:

▶︎ EU subsidy policy: tax exemption + registration fee reduction for electric equipment, lowering the procurement threshold2

▶︎ Automation technology: GPS-assisted excavation, semi-autonomous operation optimizes construction period, 30% of UK projects require intelligent equipment26

▶︎ Rental market: European equipment rental penetration rate reaches 45%, and the asset-light model boosts demand10.

The European and American markets are undergoing a "green smart revolution", and those who have technology will win the world. Chinese manufacturing companies need to deeply integrate local needs: emphasizing "zero-carbon compliance" in Germany and focusing on "full-scenario adaptation" in North America, so as to reshape the global map in the competition and cooperation between XCMG, Volvo and Caterpillar.

Data source: KHL Yellow Table 2025 Global Top 50 Construction Machinery Manufacturers, Expert Market Research Company, China Business Industry Research Institute, GMI European Wheel Excavator Market Report and other integrated analysis

Shenzhen Huaqiying Technology Co., Ltd. (abbreviated as: HQY Equipment) is a modern enterprise integrating professional R&D, production and sales of small excavators, loaders, skid loaders, rollers, lawn mowers, etc. The company is located in Shenzhen and has thousands of square meters of modern production workshops and an internationally advanced R&D technology center. At present, the company has more than 220 employees, including 33 professional engineering and technical personnel, 10 senior engineers, and 23 senior technicians.