Global construction machinery market size by region: outlook 2018-2022
China is expected to account for more than 20 percent of the global construction equipment market in 2022. That year, about 228,330 units are expected to be sold in China.
Global construction equipment market size forecast
China, North America, and Europe were the largest markets for construction equipment in 2018. While these markets will likely have to face challenges, India is expected to emerge as a growth driver in 2022. In emerging markets such as India, 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.
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 of the United States, Sweden’s Volvo, Komatsu and Hitachi of Japan, as well as Switzerland’s Liebherr. XCMG and SANY are among China’s leading manufacturers of heavy machinery.
Global construction equipment market size forecast
China, North America, and Europe were the largest markets for construction equipment in 2018. While these markets will likely have to face challenges, India is expected to emerge as a growth driver in 2022. In emerging markets such as India, 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.
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 of the United States, Sweden’s Volvo, Komatsu and Hitachi of Japan, as well as Switzerland’s Liebherr. XCMG and SANY are among China’s leading manufacturers of heavy machinery.
