Dublin, July 29, 2024 (GLOBE NEWSWIRE) -- The "Western Europe Construction Equipment Market - Strategic Assessment & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Western Europe Construction Equipment Market consisted of 388,607 units in 2023, and is expected to reach 458,638 units by 2029, rising at a CAGR of 2.8%
Caterpillar, Komatsu, JCB, Volvo CE, SANY, Liebherr, and Hitachi Construction Machinery are the front runners in the Western Europe construction equipment market. These companies have a strong market share and offer diverse equipment.
Takeuchi, Hydrema, John Deere, Yanmar, LiuGong, Bobcat, Terex, Tadano, Bomag, Merlo Spa, Wacker Neuson, and Toyota Material Handling are niche players in the Western Europe construction equipment market. These companies offer low product diversification and have a strong presence in the region's market.
Earthmoving equipment accounted for the largest market share of the Western Europe construction equipment market in 2023. Excavators in the earthmoving segment accounted for the largest share in 2023. Rising investment in housing, port expansion, and public infrastructure projects is expected to drive the demand for excavators in the Western Europe construction equipment market.
In 2023, construction activity in Western Europe stayed strong despite challenges like increased financing expenses, rising input costs, and labor shortages. This strength is anticipated to persist in 2024, though the future differs across countries and sectors. Hydraulic excavators are Western Europe's most widely produced construction equipment, specifically in the UK. The production of hydraulic excavators in the UK primarily focuses on JCB in Staffordshire, which serves the domestic market.
In France, construction equipment sales experienced a marginal decline of 0.3%, indicating a relative stabilization. However, sales of earthmoving equipment saw a slight increase of 2%. Heavy equipment sales decreased by 5.9%, whereas compact equipment sales rose by 4.3%. At the start of 2023, there was a notably high level of orders. Throughout the year, order intake gradually decreased, returning to more typical delivery times.
In Spain, construction equipment sales rose compared to 2022. Although earthmoving equipment sales slightly declined by 4%, rigid dumpers showed strong performance. In 2023, renovation projects and civil works were the primary factors propelling the construction industry. A minor decline was observed in both the residential and non-residential sectors.
In Belgium, invoiced sales for delivered earthmoving and construction equipment remained relatively stable overall, although there were significant variations between different types of equipment. Order intake saw a decline ranging from 15% to 25%. Telehandlers are another growth product, not just in the UK but also in other countries of Western Europe. They are widely used across construction, agriculture, and materials handling applications, making them very versatile. Production in the UK is again dominated by JCB, with significant imports from Europe and other global markets by import brands.
German crane and other material handling equipment rental companies Wittrock and Ulferts recently, in December 2023, made a significant purchase of 50 new Liebherr All Terrain cranes. The order, placed at the end of last year, encompasses a range of models, including three models ranging from 50 tonnes to five-axle units of 250 tonnes.
As of Sept 2023, HD Hyundai Infracore Co. is establishing its directly managed European subsidiary in Germany to counterbalance sluggish demand from financially strained Chinese developers. This subsidiary will manage sales, after-sales service, and component supply for its construction equipment under the DEVELON brand, aiming to reduce dependence on dealers.
MARKET TRENDS & DRIVERS
- Digitalization and Technological Integration in Western Europe Construction Equipment Market
- Increasing Focus on Electric and Autonomous Construction Equipment Across the Western Europe Construction Equipment Market
- Rising Trend for Waste-To-Energy Projects in the Region to Boost the Sales of Wheeled Loaders in the Western Europe Construction Equipment Market
- Surge in Investment for Public Infrastructure Supports The Western Europe Construction Equipment Market
- High Expenditure in Green Hydrogen and Green Energy Projects
- Rising Investment in Residential Construction and Price Stabilization Across Western European Countries
INDUSTRY RESTRAINTS
- Skilled Labor Shortage and Aging Population in the Region Will Slow down the Pace of Construction Activities
- Government Regulations and Their Associated Costs
- Increasing Construction Costs Will Have a Negative Impact on the Western Europe Construction Equipment Market
KEY QUESTIONS ANSWERED
- What is the growth rate of the Western Europe construction equipment market?
- How big is the Western Europe construction equipment market?
- Who are the key players in the Western Europe construction equipment market?
- What are the trends in the Western Europe construction equipment market?
- Which are the major distributor companies in the Western Europe construction equipment market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 356 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value in 2023 | 388607 Units |
| Forecasted Market Value by 2029 | 458638 Units |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Europe |
VENDOR LANDSCAPE
Prominent Vendors
- Caterpillar
- Komatsu
- Volvo Construction Equipment
- Hitachi Construction Machinery
- Liebherr
- JCB
- SANY
- Xuzhou Construction Machinery Group (XCMG)
- Kobelco
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- CNH Industrial
- Hyundai Construction Equipment
- John Deere
- Kubota
- DEVELON
- Manitou Group
Other Prominent Vendors
- LiuGong
- Yanmar
- Terex Corporation
- Takeuchi Manufacturing
- Hidromek
- Tadano
- KATO WORKS CO., LTD.
- MERLO S.p.A.
- Bobcat
- Haulotte
- Toyota Material Handling
- AMMANN
- AUSA
- Sunward Intelligent Equipment Group
- Mecalac
- Hydrema
- Wacker Neuson
- The Manitowoc Company, Inc.
- JLG
- Jungheinrich AG
- Bomag
- Euromach
- Bell Equipment
- DIECI Srl
- VF VENIERI S.p.a.
- Kalmar
Distributor Profiles
- Thomas Baumaschinen
- Kuhn- Baumaschinen.De
- Schluter Baumaschinen Gmbh
- Swecon
- Tecklenborg
- Gs Arbeitsbuhnen Gmbh
- Werner Seemann Gmbh & Co. Kg
- Baumaschinen Aschauer
- Gordons Construction Equipment
- Molson Equipment
- Dennis Barnfield Ltd
- Centrocar
- Aurteneche Maquinaria
- Sur Komat Maquinaria SL
- M3
- Aprolis
- Avlo Group
- Abramo Mason Srl
- BSM SRL
- Carmi SPA
- Boels Rental
- Mateco
SEGMENTATION ANALYSIS
Segmentation by Type
Earthmoving Equipment
- Excavator
- Backhoe Loaders
- Wheeled Loaders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Other Construction Equipment
- Dumper
- Tipper
- Concrete Mixer
- Concrete Pump Truck
Segmentation by End Users
- Construction
- Mining
- Manufacturing
- Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
Segmentation By Geography
- Western Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Western Europe
For more information about this report visit https://www.researchandmarkets.com/r/1tdz97
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
