Construction Equipment Market in Europe to exceed USD 38 Bn by 2026

Europe construction equipment market will grow with Europe witnessing a considerable expansion in the construction industry, the demand for highly efficient and automated construction equipment has enormously increased in the region over the past few years. According to credible reports, Europe construction equipment market size is projected to surpass USD 38 billion by 2026.

European market is apparently driven by the transforming technology landscape and emerging trend of automation in the construction sector. The region is expected to witness a growing demand for electric and autonomous construction equipment due to the increasing proclivity towards technologically advanced machines across construction businesses.

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Increasing investments by government authorities for the development of robust infrastructure has impelled the deployment of automated equipment in the region. This can be used for establishing a wide network of utility distribution systems aimed at supporting the rising requirements of the population.

Furthermore, introduction of large-scale infrastructural projects in renewable energy, transportation and smart technology is positively influencing the construction equipment market in Europe landscape. To illustrate, in 2019, the Danish Parliament announced its plans of constructing a 18 km long tunnel from Denmark to Germany as a part of its Fehmarn Belt Fixed Link project.

Besides, Europe is also showcasing rapid development of infrastructure projects to provide robust road transport facilities and enhanced accessibility to remote areas. This has increased the penetration of construction tools like earthmoving and road-building equipment in the region. Significant expansion of road networks in Europe has led to heightened demand for sophisticated construction machinery which is fostering the industry growth.

Deployment of the earthmoving and road-building equipment is being further fueled by the ongoing development and automation of railways and road transportation in countries like Russia and the UK. In addition, growing mechanization of infrastructure activities is also favoring the product adoption.

Apart from the above-mentioned equipment, material handling and cranes are also experiencing elevated demand owing to a substantial economic growth and burgeoning demand for goods movement in the region. Growing need and stringent norms regarding workers’ safety in the industrial facilities in European countries is increasing the adoption of cranes and other material handling equipment. Bsides, rising application of bulk-material handling equipment for facilitating faster completion of big construction projects is also augmenting the equipment demand.

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On account of increasing product demand, companies are developing and introducing enhanced construction machinery to the market. For example, they are manufacturing products with reduced diesel engine exhaust emissions to comply with the stringent EU emission regulations. Quoting an instance, in 2020, Volvo CE introduced ECR25, its compact electric excavator and wheel loader in the key European market such as Germany, France, the UK and the Netherlands.

In addition, hefty investments in R&D by major manufacturers such as Schwing Stetter, Liebherr, Putzmeister, Thyssenkrupp AG, Wirtgen, ZF, etc. are opening new growth avenues for the Europe construction equipment market. For instance, in 2019, Thyssenkrupp AG invested around USD 384.9 million on its research & innovation programs. Increasing R&D initiatives have spurred the development and launch of various new and advanced construction equipment models in the market.

Table of Contents (ToC) of the report:

Chapter 1.  Methodology and Scope

1.1. Research methodology

1.2. List of data sources

1.2.1.   Secondary

1.2.2.   Primary

Chapter 2.  Market Snapshot

2.1. Europe construction equipment market snapshot

Chapter 3.  Europe Construction Equipment Market Trends

3.1. Industry coverage

3.2. Industry size, 2015 – 2026

3.3. Impact of COVID-19 pandemic

3.4. Value chain analysis

3.4.1.   Company product snapshot

3.5. Innovation landscape

3.6. Regulatory norms & directives

3.7. Drivers & restraints

3.7.1.   Market drivers

3.7.2.   Market restraints

3.8. Industry analysis – Porter’s Analysis

3.9. Competitive benchmarking, 2019

3.9.1.   Strategy dashboard

3.10.     PEST analysis

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