According to Arizton’s latest research, Vietnam construction equipment market is projected to grow steadily at a CAGR of 11.25% from 2024 to 2030, reaching an estimated 4,880 units during the forecast period. This growth is supported by the country’s strong economic rebound and robust government spending on industrial and public infrastructure, which continues to drive steady demand for modern, high-quality equipment.
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Report Scope:
Market Size- Volume (2030): 4.88 Thousand Units
Market Size- Volume (2024): 2.57 Thousand Units
CAGR- Volume (2024-2030): 11.25%
Market Size- Revenue (2030): USD 316 Million
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Equipment Type: Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment
End-Users: Construction, Mining, Manufacturing, and Others
Vietnam’s Push for Electric Construction Equipment Signals New Investment Opportunities
Vietnam construction equipment sector is rapidly transitioning toward sustainable, electric-powered machinery as part of its commitment to net-zero emissions targets. Backed by government incentives and investment in national charging infrastructure, the market is expected to see rising demand for electric crawler excavators and compact equipment in the next few years.
Major OEMs are already responding, Volvo CE launched its ECR25 and EC55 electric excavators for the Southeast Asian market in 2023, while XCMG and Kubota have introduced new models designed for lower emissions and higher efficiency.
Although high upfront costs remain a barrier, investments in lithium-ion battery technology, declining battery prices, and favorable policies are improving the total cost of ownership for end users. As the market develops, companies with strong local partnerships, financing solutions, and after-sales service capabilities are likely to gain competitive advantage.
Vietnam’s USD 25 Billion Infrastructure Push to Boost Construction Equipment Demand
Vietnam’s government is driving large-scale infrastructure growth to enhance connectivity and economic competitiveness. In 2024, over USD 25 billion has been allocated to public infrastructure projects, with nearly 65% of this funding focused on the transport sector, including highways, railways, and airports across 46 provinces. Major projects like the Dau Giay–Tan Phu, Cho Moi–Bac Kan, and Lo Te–Rach Soi expressways are being fast-tracked, alongside 11 additional expressways nationwide.
This investment is backed by a mix of domestic, foreign, and private capital, and forms part of Vietnam’s broader USD 480 billion infrastructure roadmap through 2030. As these projects progress, demand for modern construction machinery is expected to rise significantly, creating clear growth opportunities for equipment manufacturers, suppliers, and investors seeking to tap into Vietnam’s expanding construction market.
Key Market Highlights—Vietnam Construction Equipment 2025
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Earthmoving leads: Earthmoving equipment, especially excavators, accounts for the largest share as transport and urban projects expand.
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Currency pressure: The weaker Dong impacts heavy machinery import costs, as Vietnam depends heavily on imported equipment from China, Japan, Korea, and the U.S.
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Competitive landscape: Chinese OEMs such as SANY (leading share) and Liugong (new subsidiary in Hanoi) are expanding strongly with affordable machines and flexible financing.
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Top players adapt: Komatsu remains market leader (25–27% share), followed by Kobelco, Hyundai, Caterpillar, and Develon, each holding around 10–13% market share.
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Green shift: Major brands like Volvo CE, XCMG, and Kubota are launching electric equipment, supported by government incentives and national charging infrastructure.
Vietnam Construction Equipment Market Sees Fierce Competition and Digital Push
Vietnam construction equipment market is becoming more competitive as demand rises for affordable machines and flexible financing, especially from Chinese OEMs like XCMG, SANY, and Liugong. While these brands gain share with cost-effective options, leading players such as Komatsu, Kobelco, Caterpillar, Hitachi, and Hyundai are strengthening their positions through better after-sales services, digital tools, and localized product launches.
Komatsu, which holds about 25–27% of the market, continues to lead by introducing excavators designed for local home and road projects, priced 10–15% lower than standard models. Hitachi has launched a digital app for equipment monitoring and sells spare parts online to boost customer convenience. Meanwhile, brands like Caterpillar and Komatsu are training teams to deliver stronger digital after-sales and regular maintenance services. With competition rising, companies that balance price, financing, and strong service networks are likely to capture more market share
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Prominent Vendors
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Caterpillar
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Komatsu
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Volvo Construction Equipment
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Hitachi Construction Machinery (HCM)
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Liebherr
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SANY
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Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
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JCB
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Kobelco
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Zoomlion Heavy Industry Science&Technology Co., Ltd.
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Hyundai Construction Equipment
Other Prominent Vendors
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JLG
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CNH Industrial N.V.
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Yanmar
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Liugong Machinery Co., Ltd.
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Shantui Construction Machinery Co., Ltd
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Takeuchi
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SDLG
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Manitou
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SUMITOMO CONSTRUCTION MACHINERY CO., LTD.
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KATO WORKS CO., LTD.
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Terex Corporation
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Tadano
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Bobcat
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AIRMAN
Distributor Profiles
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Tin Quang Equipment JSC
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VITRAC
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Marubeni Heavy Equipment Co., Ltd.
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JCT Vietnam
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Multico Equipment Vietnam Co., Ltd
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UMAC Vietnam
Market Segmentation & Forecast
By Type
Earthmoving Equipment
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Excavator
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Backhoe Loaders
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Wheeled Loaders
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Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)
Road Construction Equipment
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Road Rollers
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Asphalt Pavers
Material Handling Equipment
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Crane
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Forklift & Telescopic Handlers
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Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Other Construction Equipment
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Dumper
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Tipper
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Concrete Mixer
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Concrete Pump Truck
By End Users
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Construction
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Mining
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Manufacturing
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Others (Power Generation, Utilities, Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
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What Key Findings Will Our Research Analysis Reveal?
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What is the growth rate of the Vietnam construction equipment market?
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Who are the key players in the Vietnam construction equipment market?
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How big is the Vietnam construction equipment market?
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Which are the major distributor companies in the Vietnam construction equipment market?
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What are the trends in the Vietnam construction equipment market?
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