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. While the European market is predicted to remain flat and the Chinese market will likely have to face challenges, North America is expected to continue its buoyancy.
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.