Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Mining, Quarrying & Construction Machinery Manufacturing in Ireland - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
Irish mining, quarrying and construction machinery manufacturers are predominantly original equipment manufacturers (OEMs) focusing on the production of equipment parts. Revenue is forecast to climb at a compound annual rate of 1.9% to reach €160 million over the five years through 2024, including a 4.8% hike in 2024.
Manufacturers have benefitted from robust demand over the past years despite significant challenges plaguing key downstream industries, including limited construction activity in 2021 and 2023, as well as inflationary pressures limiting investment in industrial machinery. However, robust residential construction in Ireland has supported machinery demand in 2023 and the first half of 2024. Market size is projected to grow over the next five years.
Trends and Insights
- Steady residential construction supports machinery demand.
- Despite a dip in overall construction output, high numbers of residential commencements in 2024 are supporting construction machinery sales. Strong residential construction activity boosts earthmoving machinery sales.
- Investments in construction markets, such as Project Ireland 2040, have increased demand for equipment like tractors and excavators. The border region offers strategic trade routes.
- Manufacturers benefit from proximity to trading ports and the Irish border, enabling efficient export operations. Intense competition drives innovation.
- Manufacturers invest in research and development to create cutting-edge products, gaining a competitive edge in the global market.
Residential construction supports quarrying and construction machinery sales
According to the CSO, non-residential construction has been a drag on investment spending in recent years, down 4% in 2023, mostly due to the decline in office construction. However, residential construction has sustained some moderate growth, with a small dip in the third quarter of 2023.
Key Highlights
- Rising construction activity will drive sales
- Recovering construction activity domestically and globally will aid sales of construction and earth moving machinery.
Key Topics Covered:
About this Industry
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
Industry at a Glance
Industry Performance
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
Products & Markets
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
Competitive Landscape
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
Major Companies
Operating Conditions
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
Key Statistics
- Industry Data
- Annual Change
- Key Ratios
Jargon & Glossary
A selection of companies mentioned in this report includes, but is not limited to:
- Quarry & Mining Equipment Ltd
- MDS International
For more information about this report visit https://www.researchandmarkets.com/r/4ay231
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