An object of the present invention is to provide a construction machine capable of suppressing lugging down of an engine irrespective of contents of operation of an operator and the load state of a hydraulic actuator. A controller 50 includes: a demanded torque estimating section 50c configured to estimate demanded torque as torque demanded from an engine 9 by the first hydraulic pump on the basis of a demanded velocity of a first hydraulic actuator 1 and a load pressure on the first hydraulic actuator; a demanded velocity limiting section 50d configured to, in a case in which a demanded torque change rate as a change rate of the demanded torque exceeds a predetermined change rate, limit the demanded velocity such that the demanded torque change rate becomes equal to or lower than the predetermined change rate; and a command calculating section 50e configured to calculate a delivery flow rate of the first hydraulic pump on the basis of the demanded velocity of the first hydraulic actuator, the demanded velocity being limited by the demanded velocity limiting section.