28 Heavy Equipment Industry Statistics That Provide Insight

Heavy equipment industry statistics highlight the state of this sector as it stands today, looking at numerous categories, including the size, growth, demand, trends, and much more. On this page, we will explore the following stats:

• General heavy equipment industry statistics
• Heavy equipment industry employment and workforce
• Environmental impact and efforts
• Technology and innovation

Keep reading to learn more!

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Keep Reading: 10 Digital Marketing Strategies for Heavy Equipment

Heavy equipment industry statistics: General statistics

Understanding the market is vital for getting valuable insights that influence decision-making, potential growth, and the profitability of the industry. 

The following statistics provide a clear picture of the size, growth, and trends in the heavy equipment industry market: 

1. The global heavy machinery equipment market was $151 Billion in 2022, with a compound annual growth rate (CAGR) of 6%, and is estimated to reach $255.11 billion by 2032

2. The global agriculture and farming machinery industry was worth $196.5 billion in 2022 and is expected to grow to $485.7 billion by 2032 at a CAGR of 8.6%

3. The global mining heavy machinery market is projected to grow at a CAGR of 4.1% between 2023 and 2030, reaching $32.8 billion by the end of the forecast period

4. The heavy equipment industry is expected to reach over 486,000 units by 2029

5. Caterpillar has 16% of the market share for construction equipment manufacturing

6. Earth-moving equipment, like excavators, had the largest market share in the U.S. in 2023

Heavy equipment industry statistics: Employment and workforce

Let’s have a look at the employment and workforce of the heavy machinery industry in the US to have a better understanding of the people behind the equipment and the opportunities in this sector. 

Here are some interesting employment and workforce stats: 

7. Over 412,000 people work as heavy machinery operators

8. Over 320,000 people work as heavy vehicle service technicians or mechanics

9. Over 82,000 people work in the machinery manufacturing industry

10. The average heavy equipment technician makes over $64,000 annually

11. The average heavy vehicle technician is 42 years old

12. 98% of heavy equipment technicians are male

13. 95% of heavy machinery operators are male

14. 83% of heavy equipment technicians are non-Hispanic

15. 17% of heavy equipment technicians are Hispanic

16. 5% of heavy machine operators are female

17. 2% of heavy equipment technicians are female

18. Construction equipment operator employment is expected to see a 4% growth between 2023 and 2032

Heavy equipment industry statistics: Environmental impact and efforts

From enormous excavators to bulldozers, the heavy machinery that has shaped our urban landscape can also negatively impact the environment. However, the industry is now more aware of heavy equipment’s role in contributing to emissions, noise pollution, resource consumption, and other environmental issues. 

There has been a shift toward using more sustainable solutions moving forward, so the trajectory of this industry looks promising. To get a picture of what this looks like, let’s explore environmental impact and effort statistics in the heavy equipment industry: 

19. Construction equipment emits 400MT of carbon dioxide annually, with excavators making up 50% of those emissions

20. Diesel engine construction equipment accounts for 32% of nitrogen oxide and 37% of fine particle emissions from mobile sources

21. EPA regulations for implementing Tier 4 engine standards can help compliant machinery reduce emissions by up to 90%

22. Heavy equipment rental lowers the total carbon footprint of the equipment by 30-50%

23. Fundamental equipment advances, such as machine telematics and digital control systems, have led to a 13% reduction in CO2 emissions per equipment hour

24. Demand for electric heavy construction equipment will increase because of the U.S. government’s plan to be carbon-neutral by 2050

Heavy equipment industry statistics: Technology and innovation

Technological advances and adaptation in the heavy equipment sector have significantly transformed the efficiency and safety of machinery across all fields. From telematics to artificial intelligence (AI), the industry leverages various innovations to enhance equipment performance and the overall productivity of operations.     

Check out the following statistics of technological advances in the heavy equipment industry:

25. Implementing Internet of Things (IoT) can improve overall equipment effectiveness by 16%

26. Technological innovations in heavy machinery have resulted in an 83% reduction in equipment-related worksite fatalities

27. Heavy equipment makes up part of the 75% of telematics users, along with trucking vehicles. 

28. Automation processes are projected to increase global productivity by 2% annually, with almost 85% of businesses planning to introduce the technology in the next decade. 

Grow your heavy equipment market share with WebFX

These heavy equipment industry stats illuminate how impactful this sector is on the economy and the workforce. They also explore the changes in recent years that are shaping the future of heavy equipment. By gaining these insights, you can start making decisions for your business that open up new revenue opportunities. 

As a full-service digital marketing company, WebFX can help you reach your target audience and generate quality leads by optimizing your online presence. We offer solutions that are tailored to your industry and your business’s unique needs. 

Contact us online or call 888-601-5359 to connect with one of our marketing experts about how we can help you grow your heavy equipment company!

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