EUROPE CONSTRUCTION EQUIPMENT MARKET

 

KEY FINDINGS

 

  • There is huge potential for Electric and hybrid equipment manufacturers to take over the market from traditional mechanical and hydraulic ones.
  • Focus should be on developing new machines and technology to curb emissions as well as heat and noise pollution.
  • Companies should focus more on penetrating in the fast-growing segments, while maintaining their positions in the slow-growing segments.

 

 

 

INTRODUCTION

 

The construction industry is very important to the EU economy. The sector provides 18 million direct jobs and contributes to about 9% of the EU’s GDP.

 

This industry relies heavily on use of equipment and vehicles especially in construction sites and mining sites to cut down labor cost and time for the project.

 

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Europe is witnessing a major growth in the industry due to rapid development in transport infrastructure in the region. Projects such as London Cross rail (approx. 17 billion EUR) and Germany and Denmark’s Fehmarn Belt fixed link which is one of its kind world’s longest immersed road and rail tunnel are driving the growth of the market.

 

In Europe, demand for construction equipment grew in almost every country after the economic recession of 2008-10.

 

EUROPE CONSTRUCTION EQUIPMENT MARKET DYNAMICS

 

With demand for cost effective and environment friendly machines for lower emissions, the traditional construction equipment manufacturers are now opting for hybrid and electric vehicles and technologies rather than the more traditional mechanical and hydraulic ones as they not only produce zero emission but also produce very less heat, noise and vibration.

Automation and use of AI is driving the latest research and development in this industry.

 

In 2020, Dutch company BAM infra built the world’s first electric road roller that is capable of saving more than 70 liters of fuel per day and cutting 236 kilograms of carbon dioxide per day.

 

In 2019, Volvo Construction Equipment announced in an 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.

 

However, still the major part of industry machinery relies on the use of IC Engines as the main source of their power, but there is no doubt that in near future we will see them get replaced by electric and hybrid machines.

 

EUROPE CONSTRUCTION EQUIPMENT MARKET SEGMENTATION

 

Construction equipment market in Europe is segmented as below-

 

Equipment category

  • Earthmovers
  • Road equipment
  • Concrete equipment
  • Cranes

 

Power output

  • <100 Hp Construction Equipment
  • 101–200 Hp Construction Equipment
  • 201–400 Hp Construction Equipment
  • >400 Hp Construction Equipment

 

Drive Type

  • IC Engine
  • Electric and Hybrid

 

Geographic Landscape

  • Germany
  • France
  • The UK
  • The Rest of Europe

 

 

 

 

EUROPE CONSTRUCTION EQUIPMENT MARKET SIZE AND FORECAST

 

Tier-5 compliant engines are expected to have the largest market share of construction equipment by emission regulation in 2025.

 

The Selective Catalytic Reduction (SCR) after treatment device segment is projected to grow at the fastest CAGR during the forecast period due to stricter emission regulation standards in Europe.

 

The Asia Pacific region is going to be the largest market and Middle-East to be the fastest growing market for construction equipment.

 

The sizable population in countries such as China, India, Indonesia and Thailand have resulted in increased number of government projects such as sewer systems, airports and renewable energy projects offering a huge market space for the European equipment manufacturers to establish themselves in these economies.

 

These are high-end and big-size projects that require intense labor force and heavy construction equipment.

 

In Europe, Germany accounted for the largest construction equipment market share in Europe during 2019 and is expected to be the fastest- growing market during the next five years.

 

 

Europe Construction equipment market size is estimated at $XX Billion , growing at –% CAGR till 2025

 

COMPETITIVE LANDSCAPE

 

The construction equipment market in Europe is quite fragmented. AB Volvo, Atlas Copco AB and Caterpillar Inc. are some of the top market players due to their better after sales services, which makes them highly preferable among customers.

 

These companies with the help of their R&D department regularly develop new products, adopt expansion strategies, and establish collaborations and partnerships to gain traction in the global construction equipment market.

 

COMPANIES PROFILED

 

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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