Vietnam’s construction equipment market is expected to grow at a CAGR of 11.25 percent from 2024 to 2030, reaching US$316 million in revenue, driven by surging demand for infrastructure, industrial development, and real estate expansion a report from Arizton Advisory & Intelligence has found→view source.
Key details:
- Market volume: From 2.57k units in 2024 to 4.88k by 2030
- Growth drivers: Economic recovery, industrial investment, and government support through tax and land fee reductions
- End users: Construction, mining, and manufacturing sectors
- Top vendors: Caterpillar, Komatsu, Volvo, Hitachi, Liebherr, XCMG, SANY, JCB, Zoomlion, Kobelco, Hyundai
See also: Vietnam’s Construction Industry 2025: Growth, Key Firms, and Challenges