+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
Europe Heavy Construction Equipment Market Size was valued at USD 125.7 Billion in 2022. The Europe Heavy Construction Equipment market Type is projected to grow from USD 134.6 Billion in 2023 to USD 227.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.88% during the forecast period (2023 - 2032). An increase in private sector investment, a booming real estate market, bettering economic conditions, and the development of commercial and residential infrastructure in developing countries, are the key market drivers enhancing the market growth.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market for Europe's heavy construction equipment is expanding as a result of rising private sector investment, real estate sector expansion, bettering economic conditions, and the construction of residential and commercial infrastructure in emerging economies. The expansion of the industry has also been helped by the rise in public-private partnerships and government infrastructure development efforts for the construction of public infrastructure systems in countries like the U.S., India, and China. The U.S. government has provided significant money for the construction of roads, railway tracks, airports, and other infrastructure, necessitating the employment of excavators, loaders, and other heavy equipment. For instance, in March 2021, the president of the United States released a USD 2 trillion infrastructure plan that includes transportation, telecommunications, and the electrical grid in addition to residential and commercial construction.
Leading market players are also focusing on developing construction equipment that is smart, internet-connected, fuel- and energy-efficient, which has the potential to propel market expansion for the duration of the anticipated time. For instance, in March 2021 Doosan Infracore unveiled a large 100-ton excavator model. It uses a sophisticated power regulation system and an electronic integrated hydraulic system. To improve fuel efficiency and deliver flawless work performance with loss-free power and speed, it incorporates an internal fuel optimization system. Industrial growth is positively impacted by the advancement of automation in manufacturing and building procedures as well as the increased focus on infrastructure. The market for road construction equipment has seen a significant surge in recent years as a result of the expansion of road development programs implemented by various national and state governments. The expanding adoption of these efforts in the Asia-Pacific region is fueling market expansion during the expected timeframe.
A steady rise in residential property prices and an increase in housing availability are driving demand for new investments in the sector. With a 10.7% increase, Seattle had the fastest rise in housing costs in 2016. The U.S. Census Bureau reports that compared to the same month previous year, the number of new housing units climbed by about 6.2% in February 2017. Extreme market consolidation has Caterpillar controlling the majority in 2016. A few additional participants in the industry are Volvo and Komatsu. Competitors have started providing refurbished equipment backed by warranty certificates in an effort to increase their market share. Thus, driving the Europe Heavy Construction Equipment market revenue.
The Europe Heavy Construction Equipment market segmentation, based on type, includes earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Earthmoving equipment segment dominated the Europe market in 2022. India, Malaysia, and Indonesia are examples of developing countries that largely satisfy the product need. These countries have invested in building transportation infrastructure, which mostly makes use of earthmoving machinery, to support economic growth. As an example, the East Coast Rail Link project, which will link Malaysia's eastern and western regions, got underway in August 2017. The cost of China's massive "One Belt and One Road" infrastructure project is close to USD 13.0 billion.
The Europe Heavy Construction Equipment market segmentation, based on application, includes mining & excavation, earthmoving, transportation, lifting material, handling, and others. Earthmoving segment dominated the Europe market in 2022. The need for greater transportation infrastructure in Europe has grown as a result of rising urbanization.
The Europe Heavy Construction Equipment market segmentation, based on end user, includes oil & gas industry, construction industry, military, mining, agriculture, forestry, and others. Construction industry segment dominated the Europe Heavy Construction Equipment market in 2022. The need for affordable housing has increased along with demand for social, transportation, and utility infrastructure. Numerous initiatives have been launched by governments all over the world to provide houses at low interest rates. Programs to provide affordable housing for the middle- and low-income group are expected to speed up residential construction. Additionally, developers have been forced to adopt high-rise building construction techniques due to their inability to grow horizontally due to a lack of suitable land. This will probably result in an increase in demand for heavy-duty construction equipment over the course of the projection period.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In 2022, the Europe Heavy Construction Equipment market held a sizable market share. Rising house demand, job levels, etc. are the causes of this. Additionally, given that Germany is regarded to be the home of Europe's best-performing machine and equipment sector, Europe is projected to have a significant chance of growth throughout the course of the forecast year. The rapid spread and widespread consequences of COVID-19 in these countries are also projected to contribute to weak growth in 2020 in European countries like Italy and Spain. Further, In the European region, the German Heavy Construction Equipment market had the biggest market share, and the U.K. Heavy Construction Equipment market had the quickest rate of growth.
Germany held the largest share for the Europe Heavy Construction Equipment market. This is owing to well-established and highly advanced manufacturing sector, including heavy machinery production. The country is home to several leading manufacturers of construction equipment, such as Caterpillar, Liebherr, and Komatsu. These companies have a strong presence in the market and offer a wide range of technologically advanced and high-quality equipment.
The U.K. held the second largest share for the Europe Heavy Construction Equipment market. This is owing to, huge Construction Industry Size. The UK has a sizable construction industry with significant infrastructure projects, residential and commercial developments, and public sector investments. These projects drive the demand for heavy construction equipment, creating a robust market for machinery manufacturers and suppliers.
The France held the third largest share for the Europe Heavy Construction Equipment market. This is owing to, France has a substantial construction industry with a diverse range of projects, including infrastructure development, residential and commercial construction, and public works. The demand for heavy construction equipment arises from these projects, contributing to the market size.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Heavy Construction Equipment market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Heavy Construction Equipment sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Heavy Construction Equipment industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Heavy Construction Equipment sector. Major players in the Europe Heavy Construction Equipment market, including Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore Co Ltd., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr International AG, Volvo Group, and XCMG Group, are attempting to increase market demand by investing in research and development operations.
Electronics, power systems, information technology, social infrastructure, industrial systems, and construction equipment are all areas of activity for Hitachi Ltd. (Hitachi), a global business. The company manufactures and sells a variety of products, including construction machinery, electronic systems and equipment, automotive systems, information and telecom systems, power systems, social infrastructure and industrial systems, smart life and eco-friendly systems, and power systems. Its products and services are used by the manufacturing, banking, healthcare, life science, government, energy, transportation, auto, aerospace, nuclear, and technology sectors. It operates through subsidiaries, joint ventures, associates, and affiliates across Asia, North America, and Europe. Hitachi's headquarters are in Tokyo, Japan, in the district of Chiyoda-Ku. In March 2021, Hitachi launched the Stage V-compliant ZW220-7 wheel loader. The ZW220-7 has an ISO heaping bucket capacity of between 2.8 and 10 cubic meters, an operational weight between 18,190 and 19,450 kg, and a net power of 157 kW (210 hp).
Caterpillar Inc. is a manufacturer of machinery for transportation, energy, and construction. Among the things it designs, makes, markets, and sells are diesel and natural gas engines, industrial gas turbines, forestry equipment, diesel-electric locomotives, and construction and mining equipment. The company's product line includes reciprocating engines, integrated systems, draglines, backhoe loaders, compactors, and asphalt pavers, among many other things. Additionally, Caterpillar offers retail and wholesale financing alternatives for Caterpillar equipment to customers and dealers. Through its subsidiaries and dealers, the company markets and sells its products in a number of countries throughout North and South America, Asia-Pacific, Africa, the Middle East, and Europe. The Caterpillar corporate office is located in the American city of Deerfield, Illinois. For the markets in Europe, Asia, and Africa, Caterpillar unveiled three new, sizable excavators in January 2021, together with two UHD (ultra-high definition) demolition machines.
· Caterpillar Inc.
· CNH Industrial N.V.
· Deere & Company
· Doosan Infracore Co Ltd.
· Hitachi Construction Machinery Co. Ltd.
· J C Bamford Excavators Ltd.
· Komatsu Ltd.
· Liebherr International AG
· Volvo Group
· XCMG Group
January 2022: CanLift Equipment Ltd. has increased its product line for construction machinery equipment through a strategic partnership with the leading manufacturer in the sector, Xuzhou Construction Machinery Group Co., Ltd., in order to boost the sales rights of earthmoving equipment in Ontario.
· Earthmoving Equipment
· Material Handling Equipment
· Heavy Construction Vehicles
· Others
· Mining & Excavation
· Earthmoving
· Transportation
· Lifting Material
· Handling
· Others
· Oil & Gas Industry
· Construction Industry
· Military
· Mining
· Agriculture
· Forestry
· Others
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 125.7 Billion |
|
Market Size 2023 |
USD 134.6 Billion |
|
Market Size 2032 |
USD 227.4 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.88% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, End User, and Region |
|
Geographies Covered |
Europe |
|
Countries Covered |
German, France, U.K, Italy, Spain |
|
Key Companies Profiled |
Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore Co Ltd., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr International AG, Volvo Group, and XCMG Group |
|
Key Market Opportunities |
Renting or leasing or equipment |
|
Key Market Dynamics |
Increased private sector investment, real estate sector growth, improving economic situations, and residential and commercial infrastructure set-up in emerging countries |
The Europe Heavy Construction Equipment Market was valued at USD 125.7 billion in 2022, and it is estimated to reach USD 227.4 billion by 2032.
The Europe market is projected to grow at a CAGR of 6.88% during the forecast period, 2023-2032.
Germany had the largest share in the Europe market
The key players in the market are Caterpillar Inc., CNH Industrial N.V., Deere & Company, Doosan Infracore Co Ltd., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr International AG, Volvo Group, and XCMG Group
The Earthmoving Equipment Type dominated the market in 2022.
The Earthmoving Application had the largest share in the Europe market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65257
Published on :
Sep 2023
Request a Free Sample Report
Speak to Analyst