PUBLISHER: The Freedonia Group | PRODUCT CODE: 1290447
PUBLISHER: The Freedonia Group | PRODUCT CODE: 1290447
Global demand for construction machinery is projected to advance 6.1% per year to $318 billion in 2027. Because of the onset of the COVID-19 pandemic and the associated economic turmoil, the world market contracted 5% in 2020. Strong growth in China moderated losses at the global level. In 2021, most major national markets grew more than 15% per year as conditions in most end use markets improved, international trade and capital flows rebounded, and commodity prices rose. Worldwide, product sales were flat in 2022. While many countries registered growth, the immense Chinese market experienced a sharp downturn in 2022 because of measures taken by the government in response to the COVID-19 pandemic, the depreciation of the yuan against the US dollar, and stagnating construction expenditures. Through 2027, product sales will recover rapidly in China, and this will be a key driver of global market gains. Many other trends will support advances in construction equipment demand worldwide, including rising construction, mining, and forestry activity; elevated commodity prices; the intensification of workforce issue; the implementation of major public infrastructure projects; the immense replacement needs of mature markets; and the development of the next generation of construction equipment.
This study covers the following types of agricultural equipment:
Excavators
Loaders
Cranes & Draglines
Dozers & Off-Highway Trucks
Mixing & Paving Equipment
Grading & Compaction Equipment
Parts & Attachments
Construction machinery data is provided for 18 nations in the following regions:
Scope of the Report
This report covers the scope, size and growth of the global construction machinery market, including demand by machine type. Historical figures are provided for 2012, 2017, and 2022 with forecasts for 2027 and 2032. This edition also presents annual data for the 2019-2026 period and features historical product demand charts for the 2004-2022 period for all countries. In addition, the study analyzes the structure of the immense and diverse global construction machinery industry and gives market share figures for leading producers in dollar terms. Regional market share figures are also presented.
List of Tables
List of Figures