The construction equipment market in Europe is expected to grow from US$ 17,517.70 million in 2022 to US$ 32,511.07 million by 2028. It is estimated to grow at a CAGR of 10.9% from 2022 to 2028.
Economic activities across the region were considerably stifled due to the COVID-19 pandemic. According to a recent Global Infrastructure Hub (GIH) assessment in 2020, the short-term fiscal multiplier averaged 0.80 in one year and 1.53 in two to five years. The finding was derived from a sample of over 3,000 estimations from previous research conducted in developed and developing nations. Infrastructure investment has a long-term impact on product development, which can boost GDP in the long run, albeit the scale of these effects is unknown. The GIH research states that the average elasticity of private GDP to public capital stock is roughly 0.19, implying that a 1% increase in the overall value of the public capital stock will raise production by 0.19% annually.
The reliance on communication infrastructure, including telecommunications and broadband services, has grown significantly, with providers reporting a 60% rise in internet traffic since the COVID-19 crisis, according to OECD in 2020. Businesses have used digital solutions and channels to facilitate communication among employees and consumers. The governments and educational institutions have done so as well. As a result, companies and government agencies are expanding the availability of digital material or converting existing content to digital format, owing to the growth of the construction equipment market.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe construction equipment market at a substantial CAGR during the forecast period.
Europe Construction Equipment Market Segmentation
The Europe construction equipment market is segmented by equipment type, application, and country.
Based on equipment type, the market is segmented into heavy construction vehicles, earthmoving equipment, material-handling equipment, and others. In 2022, the material-handling equipment segment held a larger market share and is expected to register a higher CAGR during the forecast period.
Based on application, the market is segmented into residential, commercial, and industrial. The commercial segment held the largest market share in 2022 and is expected to register the highest CAGR in the market during the forecast period.
Based on country, the regional market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, Germany held a larger market share. It is also expected to register a higher CAGR during the forecast period.
aterpillar Inc.; CNH Industrial N.V.; Komatsu Ltd.; Liebherr; Terex Corporation; Zoomlion Heavy Industry Science & Technology Co., Ltd.; J C Bamford Excavators Ltd. (JCB); Deere & Company; AB Volvo; and Hitachi Construction Machinery Co., Ltd. are the leading companies in the Europe construction equipment market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 17,517.70 Million |
| Market Size by 2028 | US$ 32,511.07 Million |
| CAGR (2022 - 2028) | 10.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Equipment Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Construction Equipment Market is valued at US$ 17,517.70 Million in 2022, it is projected to reach US$ 32,511.07 Million by 2028.
As per our report Europe Construction Equipment Market, the market size is valued at US$ 17,517.70 Million in 2022, projecting it to reach US$ 32,511.07 Million by 2028. This translates to a CAGR of approximately 10.9% during the forecast period.
The Europe Construction Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Construction Equipment Market report:
The Europe Construction Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Construction Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Construction Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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