This statistic gives an outlook for the global construction equipment market from 2010 through 2015, by region. In 2011, the European construction equipment market is expected to have a size of around 20.8 billion U.S. dollars.
Global construction equipment market size forecast
China, North America and Europe are expected to be the largest markets for construction equipment for years to come. By 2015, the Chinese construction equipment market is predicted to be sized at just under 44 billion U.S. dollars. The trend in China is underpinning the Asia-Pacific region’s role as a driver of growth: India and Japan are forecast to experience significant increases in market volume by 2015.
The term construction equipment refers to machinery designed for executing construction tasks. Crawler dozers, crawler excavators, aerial work platforms and wheel loaders rank among the most important product categories in this industry. The leading manufacturers of construction equipment include Caterpillar and Terex of the United States, Sweden’s Volvo, Komatsu and Hitachi of Japan, as well as Switzerland’s Liebherr. SANY, LiuGong and Zoomlion are among China’s leading manufacturers of heavy machinery.
In emerging markets, increasingly affluent consumers are predicted to drive demand for larger residential structures and developments in infrastructure, while some experts also see bullish trends in industrial countries, where construction activity is expected to increase to fix aging infrastructure.