Australia Construction Machinery Market Size

Australia Construction Machinery Market Analysis

The Australia Construction Machinery Market size is estimated at USD 2.79 billion in 2024, and is expected to reach USD 3.29 billion by 2029, growing at a CAGR of 3.35% during the forecast period (2024-2029).

Australia's rapid urbanization and development, coupled with increasing government focus on upgrading the existing infrastructure, is expected to surge construction activities, increasing demand for excavators, loaders, Cranes, dump trucks, etc., for construction work. Thus, increasing infrastructure development activities across the country is anticipated to increase demand for earthmoving and material handling equipment, thereby driving the growth of the construction equipment market. Moreover, increasing government spending on upgrading the present infrastructure is responsible for increasing construction activities in the country.

Australia’s government, in 2022, announced the funding of USD 16.7 billion to clean energy, promoting the net zero commitment by 2050. The Powering Australia plan focuses on developing projects that reduce emissions by boosting renewable energy. In 2022, Australia approved USD 34 million worth of grants for developing six important projects to boost the development of the critical mineral resource industry.

This increasing construction activity is growing the demand for the construction equipment market. Key players in the market are expected to invest across Australia in such an upbeat environment. The use of machinery is also expected to increase across a variety of Australian states and private construction projects. These factors are expected to drive market growth during the forecast period.