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Europe Construction Equipment Market (2020-2026): Size, Share and Forecast – 6Wresearch

Europe Construction Equipment Market Overview

The Europe construction equipment market is expected to grow at a CAGR of around XXXX% during the forecast period. The market is driven by the growing construction industry, which is supported by the increasing infrastructure investment. Construction equipment includes various types of machinery and vehicles used for construction applications.

The Europe construction equipment market is segmented by type, application, and geography. By type, the market is divided into earthmoving machinery, material handling machinery, and concrete & road construction machinery. Earthmoving machinery includes excavators, loaders, bulldozers, and graders. Material handling machinery includes cranes, forklifts, and telescopic handlers. Concrete & road construction machinery includes concrete pumps, asphalt pavers, and compactors.

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By application, the market is classified into residential, commercial, industrial, and infrastructure. The residential segment includes new constructions and renovations/remodeling. The commercial segment includes office buildings, retail stores/malls, hotels/resorts, healthcare facilities, educational institutions, and government buildings. The industrial segment comprises manufacturing plants/factories/warehouses and power plants/utilities. The infrastructure segment covers roads & bridges; railways; airports; seaports; dams & canals; water pipelines & treatment plants; oil & gas facilities; power generation plants; telecommunications towers; and sewerage systems.

Geographically, the Europe construction equipment market is divided into Germany , France , Italy , Spain , UK , Russia , Turkey  , Poland , and Rest of Europe .

The construction equipment market in Europe is highly competitive with the presence of a large number of international and regional players. Prominent players in the market include Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, Liebherr-International AG, John Deere, JCB, Doosan Bobcat, and Kubota Corporation.

Europe Construction Equipment Industry analysis

The Europe construction equipment market is expected to grow at a CAGR of around XXXX% during the forecast period. The market is driven by the growing construction industry, increasing infrastructure investment, and rising demand for rental equipment.

The market is segmented by product type into earthmoving machinery, material handling machinery, and concrete & stone processing machinery. The earthmoving machinery segment is further divided into excavators, loaders, bulldozers, and graders. The material handling machinery segment includes cranes, forklifts, and telehandlers. The concrete & stone processing machinery segment is further classified into concrete pumps, batching plants, mixers, pavers, and trowels.

By end-use industry, the market is categorized into construction & mining, transportation & logistics, manufacturing & assembly lines, oil & gas extraction sites. Among these segments construction & mining is anticipated to hold the largest share in the market owing to the growing construction activities across Europe.

Some of the key players operating in the Europe construction equipment market include Caterpillar Inc., CNH Industrial N.V., Deere & Company Ltd., Doosan Bobcat Europe SAS., JCB Ltd., Komatsu Construction Equipment AB., Liebherr-International AG., Volvo Construction Equipment AB., Wacker Neuson SE among others.

Europe Construction Equipment Market size, share and forecast

The construction equipment in Europe market is expected to grow from $XX billion in 2018 to $XX billion by 2025, at a CAGR of XX% during the forecast period. The growth of the construction equipment market in Europe is mainly driven by the increasing demand for infrastructure development and the growing construction industry.

In terms of market size, the Europe construction equipment market is estimated to be the second largest market after Asia-Pacific. The market share of Europe in the global construction equipment market was XX% in 2018 and is expected to reach XX% by 2025.

Some of the major players operating in the Europe construction equipment market are Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., Liebherr Group, Sany Group, Volvo Construction Equipment, and Kobelco Construction Machinery Co., Ltd.

Macroeconomic indicators for Construction Equipment Market

Macroeconomic indicators are important factors to consider when analyzing a market. In Europe, some of the key macroeconomic indicators for the construction equipment market include GDP growth, population growth, infrastructure spending, and construction output.

GDP growth is a key driver of demand for construction equipment. As GDP grows, so does the need for new construction projects and the associated equipment. Population growth is another important factor as it leads to increased demand for housing and other infrastructure projects. Infrastructure spending is a major driver of demand for construction equipment, as it represents a significant portion of overall construction activity. Lastly, construction output is a key metric to track as it directly affects demand for construction equipment.

Factors driving market growth

The Europe construction equipment market is expected to grow at a CAGR of XXXX% during the forecast period of 2019-2024. Key factors that drive the further growth of the market are:

-The growing construction industry in the region

-The increasing infrastructure development projects

-The rising demand for energy-efficient and emission-reduction construction equipment

Some of the key players in the Europe construction equipment market include Caterpillar, Hitachi Construction Machinery, Volvo Construction Equipment, Komatsu, and Doosan Infracore.

Factors restraining market growth

The market for construction equipment in Europe is expected to grow at a moderate pace during the forecast period. The main restraint on market growth is the slow economic recovery in many Europe countries. Construction activity in Europe is closely linked to economic growth, and the construction equipment market has been affected by the economic downturn in recent years. Another factor restraining market growth is the declining prices of construction equipment. Prices have fallen due to overcapacity in the market and intensifying competition from Chinese manufacturers.

Five forces analysis for Europe Construction Equipment Market

The construction equipment market in Europe is expected to grow at a CAGR of around XXXX% during the forecast period. Some of the key factors driving the market growth are the growing infrastructure development and construction activities across the region. Moreover, the rising demand for rental equipment from small & medium contractors is also one of the major factors fuelling the market growth.

However, the high cost of construction equipment and lack of skilled operators are some of the major challenges faced by the market players operating in this market.

Porter’s Five Forces analysis is a useful tool to analyze the competition within an industry and business strategy development. It is a part of industry analysis and informs company’s decisions on corporate strategy (Ray, et al., 2015). The five forces include bargaining power of buyers & suppliers, competitive rivalry in an industry, threat of substitutes & new entrants, and internal rivalry within an organization. All these five forces combined together give insights about where an organization stands in an industry and what needs to be done to stay ahead of competition (Porter, 1979).

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Buyer’s bargaining power: The buyers have a moderate bargaining power in Europe construction equipment market as there are many suppliers providing similar products/services. Moreover, the availability of substitutes gives them more options to choose from. However, some large buyers such as government bodies or big construction firms have high bargaining power due to their large size & high buying volume (Mintel Group Ltd.

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