Dublin, Ireland, June 10, 2022 (GLOBE NEWSWIRE) -- The Europe construction equipment market is projected to exhibit growth at over 6% during the forecast period (2021-2031), as per a recently published Fact.MR report. Construction equipment market is witnessing a huge turnaround in developed economies with the pandemic having come full circle. As of 2022, the market is poised to be valued at US$ 170 Billion.
Europe is also witness to a construction boom of late in the region on account of residences for nuclear families pitching-in together. This includes Milanosesto Mixed-Use Complex (Italy), ZAC Campus Grand Parc Mixed-Use Development (France), Viadux Mixed-Use Community (U.K.), Camden Goods Yard Mixed-Use Community (U.K.), and Sackville Road Residential Community (U.K.).
A push in infrastructure spending in Europe with well-surfaced roads, gushing dams and overbearing highways tended to by heavy duty excavators and earth-moving machinery will add impetus to the construction equipment market. Furthermore, a fall in prices of home dwellings has added further attractions to the home-buyer’s pent-up demand.
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Key Takeaways from Market Study
- Construction equipment market in Europe to reach US$ 304.43 Billion by 2032
- By product, earthmoving machinery to account for over 59% of the Europe construction equipment market
- Germany to be a key contributor to market growth, flourishing at a 6.3% CAGR until 2032
- From 2015 to 2021, construction equipment demand expanded at a 5.8% value CAGR, reaching US$ 161 Billion
- Europe construction equipment market worth to expand 1.8x from 2022 to 2032
Development of Market
The European construction equipment market is a consolidated market with key players such as Liebherr, Volvo Equipment etc. dominating the market.
- In 2019, Volvo Construction Equipment announced in a official statement that it will start producing compact electric excavators and wheel loaders. EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be in production from mid-2020.
- The new electric mobile crane from Manitex Vall, the V 110 R, was launched in February 2021. The battery-powered and remote-controlled lift rises to a height of 10.4 meters, has a lifting capacity of 11,000 kg and functions at a height of 10.4 meters.
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Key Segments Covered in the Europe Construction Equipment Market Report
- Europe Construction Equipment Market by Product
- Earth Moving Construction Machinery
- Excavator
- Loader
- Others
- Construction Material Handling Machinery
- Crawler Cranes
- Trailer Mounted Cranes
- Truck Mounted Cranes
- Concrete and Road Construction Machinery
- Concrete Mixer & Pavers
- Construction Pumps
- Others
- Earth Moving Construction Machinery
- Europe Construction Equipment Market by Country
- Germany
- France
- U.K
- Italy
- BENELUX
- Nordics
- Rest of Europe
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the Europe construction equipment market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by product (earth moving machinery, construction material handling machinery and concrete and rail construction machinery) across six countries (Germany, U.K, France, Italy, BENELUX and Nordics).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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