Utility Equipment Global Strategic Business Report 2025-2030 | Rising Infrastructure Modernization Efforts Throw the Spotlight on Next-Gen Utility Equipment Demand - ResearchAndMarkets.com

By: Research and Markets via Business Wire

August 05, 2025 at 08:32 AM EDT

The "Utility Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Utility Equipment was estimated at US$12.0 Billion in 2024 and is projected to reach US$14.6 Billion by 2030, growing at a CAGR of 3.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Utility Equipment market.

What Are the Main Factors Driving Growth in the Utility Equipment Market Globally?

The growth in the utility equipment market is being driven by a combination of infrastructure expansion, regulatory compliance, technological advancement, and a growing emphasis on resilience and sustainability. One of the most significant drivers is the aging of utility infrastructure in developed countries, which necessitates large-scale upgrades and replacements using specialized equipment to ensure safe and efficient operations.

Simultaneously, emerging economies are undertaking new infrastructure projects to expand access to electricity, clean water, and telecommunications, thereby increasing demand for utility machinery. The increasing frequency and severity of climate-related disasters are prompting governments and private utilities to invest in more robust equipment fleets capable of performing in extreme conditions and restoring services rapidly.

Rising environmental standards and sustainability goals are pushing companies to adopt greener, electric-powered utility equipment that aligns with carbon reduction targets. Additionally, technological integration into utility operations is increasing demand for advanced, multifunctional equipment that can connect to digital platforms and streamline workflows. Workforce challenges, including skilled labor shortages, are also accelerating automation and remote operation capabilities within the sector.

Government stimulus packages, infrastructure funding initiatives, and public-private partnerships are further fueling investment in utility-related capital equipment. Together, these drivers are creating a favorable environment for market expansion, where innovation, compliance, and operational efficiency are all converging to shape the future of utility equipment worldwide.

How Are Technological Advancements Enhancing the Capabilities of Utility Equipment?

Technological innovation is rapidly reshaping the utility equipment sector, making machines smarter, more efficient, and better suited to the evolving demands of modern utility operations. Advancements in hydraulics, telematics, and automation are leading to equipment that can perform tasks with greater precision and less manual effort, reducing wear on components and minimizing operator fatigue. GPS and GIS integration in utility vehicles now enables crews to pinpoint asset locations, optimize routing, and track progress in real time, improving productivity and response times.

Additionally, machine learning and predictive analytics are being used to monitor equipment health, anticipate failures, and schedule proactive maintenance, reducing costly downtime. Hybrid and electric powertrains are emerging as sustainable alternatives to diesel engines, especially in urban areas with strict emissions standards, allowing utility companies to reduce their carbon footprint without compromising performance. Ergonomic enhancements and safety features, such as automated stabilization systems, overload protection, and proximity alerts, are further improving workplace safety and operational confidence.

Modular designs are also becoming more prevalent, allowing utility companies to adapt equipment to different tasks or environments with minimal reconfiguration time. These innovations are not only boosting efficiency and sustainability but also helping utility providers meet growing regulatory demands and public expectations for resilient, reliable service. As technology continues to evolve, utility equipment is becoming more intelligent, versatile, and integral to the delivery of critical infrastructure services.

What Regional and Sector-Specific Factors Are Influencing Demand for Utility Equipment?

Demand for utility equipment varies significantly across regions and industry sectors, influenced by infrastructure maturity, climate conditions, economic development, and policy priorities. In North America, ongoing investments in grid modernization, underground utility expansion, and storm recovery capabilities are driving demand for a broad range of equipment, from bucket trucks and pole-setting rigs to trenchless digging machines.

In Europe, environmental regulations and urban density challenges are prompting utility operators to adopt compact, low-emission equipment for use in tight, urban construction zones. In Asia-Pacific, rapid urbanization and industrial growth are fueling infrastructure expansion, particularly in countries like India, China, and Southeast Asian nations where rural electrification and water access programs are heavily reliant on scalable and cost-effective utility machinery.

Africa and Latin America are seeing growing demand tied to development aid and public investment in basic services, where utility equipment supports first-time infrastructure installation and community electrification efforts. Sector-wise, the electric power industry remains the largest consumer of utility equipment due to ongoing transmission and distribution upgrades, while water and wastewater utilities are increasing their reliance on vacuum excavation and inspection technologies to manage aging pipelines.

The rise of renewable energy, particularly solar and wind, is also influencing demand, as utility crews require specialized equipment to install, connect, and maintain distributed energy assets. These diverse regional and sector-specific needs are shaping a highly dynamic market, with manufacturers offering tailored solutions to meet local challenges and regulatory conditions.

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of players such as Altec Inc., Ammann Group, Caterpillar Inc., CNH Industrial, Doosan Corporation and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Insights:

Market Growth: Understand the significant growth trajectory of the Garbage Trucks segment, which is expected to reach US$6.9 Billion by 2030 with a CAGR of a 3.0%. The Street Sweeper segment is also set to grow at 3.5% CAGR over the analysis period.
Regional Analysis: Gain insights into the U.S. market, estimated at $3.3 Billion in 2024, and China, forecasted to grow at an impressive 6.1% CAGR to reach $2.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Scope of Study:

Product (Garbage Trucks, Street Sweeper, Static Compactors, Winter Maintenance Equipment, Sewer & Drainage Equipment)
Type (Electric Utility Equipment, Conventional Utility Equipment)
End-Use (Municipal End-Use, Industrial End-Use, Airport End-Use, Other End-Uses)

Key Attributes:

Report Attribute	Details
No. of Pages	371
Forecast Period	2024 - 2030
Estimated Market Value in 2024	12 Billion
Forecasted Market Value by 2030	14.6 Billion
Compound Annual Growth Rate	3.3%
Regions Covered	Global

Key Topics Covered:

MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Tariff Impact on Global Supply Chain Patterns
Utility Equipment - Global Key Competitors Percentage Market Share in 2025 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)

MARKET TRENDS & DRIVERS

Rising Infrastructure Modernization Efforts Throw the Spotlight on Next-Gen Utility Equipment Demand
Grid Expansion and Smart Utility Rollouts Spur Procurement of Advanced and Connected Equipment Fleets
Here`s How Electrification of Utility Fleets Is Driving Innovation in Battery-Powered Equipment Platforms
Aging Utility Assets and Workforce Gaps Strengthen the Business Case for Automated and Ergonomic Machinery
Growing Frequency of Natural Disasters Accelerates Demand for Rapid Deployment and Emergency Response Equipment
Telecom Network Upgrades and 5G Expansion Expand the Addressable Market for Compact Utility Construction Equipment
Here`s the Story: How Urbanization and Undergrounding Projects Are Boosting Demand for Trenchers and Vacuum Excavators
Technological Advancements in Telematics and Fleet Management Tools Drive Adoption of Smart Utility Equipment
Rising Adoption of Hybrid and Electric Aerial Devices Reflects Sustainability Goals Across Utility Operators
Fleet Standardization and Multi-Use Equipment Platforms Generate Cost Efficiencies and Broaden Appeal
Increased Focus on Worker Safety and Compliance Propels Innovation in Stabilization and Lifting Technologies
Rural Electrification Projects in Emerging Economies Sustain Long-Term Demand for Off-Road and Trailer-Mounted Units

FOCUS ON SELECT PLAYERS | Some of the 32 companies featured in this Utility Equipment market report

Altec Inc.
Ammann Group
Caterpillar Inc.
CNH Industrial
Doosan Corporation
Furukawa Co., Ltd.
Hitachi Construction Machinery
Hyundai Construction Equipment
IHI Corporation
JCB
Kobelco Construction Machinery
Komatsu Ltd.
Liebherr Group
Manitowoc Company, Inc.
Mitsubishi Heavy Industries
SANY Group
Terex Corporation
Volvo Construction Equipment
Wacker Neuson SE
Zoomlion Heavy Industry

For more information about this report visit https://www.researchandmarkets.com/r/cpqg4h

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View source version on businesswire.com: https://www.businesswire.com/news/home/20250805572382/en/

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Utility Equipment Global Strategic Business Report 2025-2030 | Rising Infrastructure Modernization Efforts Throw the Spotlight on Next-Gen Utility Equipment Demand - ResearchAndMarkets.com

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