DUBLIN, Feb. 18, 2022 /PRNewswire/ -- The "Global Construction Machinery Market Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.
Global demand for construction machinery is forecast to grow 4.1% per year to $250 billion 2025, supported by:
- Rising construction activity - aided by factors ranging from population growth to increasing industrial output - and infrastructure spending
- Advances in worldwide mining and forestry activity and energy production, supported by a recovery in commodity prices from 2020 lows
- Increasing replacement sales of global construction equipment, after many operators delayed machinery purchases in 2020
- The introduction of newly developed, state-of-the-art construction equipment, which will cost considerably more than predecessors
- Rising sales of replacement parts and attachments as the amount of equipment in use around world increases
Outside of China - which had an elevated level of 2020 product sales - annual growth was slower between 2015 and 2020 (1.3%) and will be noticeably faster through 2025 (5.3%).
China's Strong 2020 Performance Will Impact Global Forecast for Construction Machinery
Due to the COVID-19 pandemic, most countries experienced declining construction machinery sales in 2020 as economic conditions weakened, international trade decreased, and many currencies depreciated against the US dollar. These nations recorded losses of 5% to 20% in 2020, wiping out a large portion of gains recorded since 2015. However, China proved to be an exception to this trend. A surge in government stimulus spending, coupled with the country mitigating the most significant impacts of the pandemic at a relatively early date, prompted double-digit gains in construction equipment demand and prevented even greater global losses.
Through 2025, however, China will underperform most major markets and restrain the average global rate of growth, owing largely to its strong 2020 performance. First, growth will occur from a high 2020 base. Second, numerous Chinese operators invested in new equipment and replaced aging machines in 2020. Most other national markets will record a strong rebound in construction machinery demand through 2025, with particularly strong gains coming during the first part of the forecast period.
Technological Innovation to Drive Market Gains
Industry leaders are currently developing the next generation of construction equipment - ranging from alternative fuel trucks and semi-autonomous excavators - which will be considerably more productive, efficient, and environmentally friendly. New models will feature a variety of innovative technologies, such as advanced sensors, electric engines, and sophisticated data collection capabilities. The incorporation of such technologies into new models will spur both new and replacement equipment sales and drive up average construction equipment prices.
Key Topics Covered:
1. Executive Summary
2. Impact of COVID-19 Pandemic
3. Overview
- Study Scope
- Historical Trends
- Regional Supply & Demand
- Demand by Region
- Production by Region
- International Trade
- Demand by Product
- Units
- Market Value
- Pricing Trends
4. Factors Impacting Demand
- Global Construction Outlook
- Regulations & Industry Standards
- Product Safety
- Emissions
- Technical Standards
- Competition from Used & Rental Machinery
- Used Machinery
- Remanufactured Machinery
- Rental Equipment
- Leasing
- Major Suppliers of Used & Rental Machinery
- Technology & Innovation
5. Excavators
6. Loaders
7. Cranes & Draglines
8. Dozers & Off-Highway Trucks
9. Mixing & Paving Equipment
10. Grading & Compaction Equipment
11. Parts & Attachments
12. North America
13. Central & South America
14. Western Europe
15. Eastern Europe
16. Asia/Pacific
17. Africa/Mideast
18. Industry Structure
Companies Mentioned
- BELAZ
- Caterpillar
- CNH Industrial
- Deere
- Doosan Infracore
- FAYAT
- Guangxi LiuGong Machinery
- Hitachi
- Hyundai Construction Equipment
- JC Bamford Excavators
- Kobe Steel (Kobelco)
- Komatsu
- Kubota
- Liebherr-International
- Lonking
- Manitowoc
- SANY Heavy Industry
- Sumitomo Heavy Industries
- Tadano
- Terex
- Volvo
- Xuzhou Construction Machinery
- Yanmar
- Zoomlion
For more information about this report visit https://www.researchandmarkets.com/r/vs6xml
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SOURCE Research and Markets
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