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World Heavy Construction Equipment

Freedonia Group Inc
August 1, 2005
SKU: FG1161533

Abstract Table of Contents Related Reports

Countries covered: Global

Global demand to rise 4.9% annually through 2009

Worldwide demand for heavy construction equipment is projected to rise 4.9 percent annually through 2009 to $110 billion. Growth will be supported by the expected continued expansion of the global economy, with high points including Eastern Europe, India, South America and a resurgent China. Within the Triad (i.e., North America, Japan and Europe), North America is expected to maintain its lead in terms of both the overall size of demand and growth potential, as the growth prospects for Japan and Western Europe will be hampered by a combination of negative demographic and structural trends, including aging populations and high levels of regulation and taxation.

China, Eastern Europe to pace non-Triad growth

In the non-Triad regions, future prospects are favorable in China, despite the recent weakening of the construction equipment market due to tightening credit policies. Construction equipment demand will continue to benefit from that nation’s aggressive industrialization efforts. Eastern Europe should also provide a strong base for construction equipment demand in the coming years. Eight East European countries — the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia — entered the European Union (EU) in May 2004, and in April 2005 Romania and Bulgaria signed accession treaties to join the EU in 2007. Based on the economic turnarounds experienced by other countries joining the EU, expected infrastructure and economic improvements should help to strongly increase construction equipment demand going forward. Construction machinery markets in Africa/Mideast are projected to climb at about the same pace as during the 1990s, with that region’s continuing political turmoil preventing demand from rising as quickly as in other developing areas.

North America to lead gains in Triad

Within the Triad, 2004 was a year of recovery and growth for North America, where market expansion was driven by the explosive US real estate market. Most competitors saw sales and operating profits improve from years of stagnant sales and difficult profitability. Future growth will moderate somewhat but remain healthy in the region. In addition to improving fundamentals in most developing areas, the pace of growth in Western Europe is expected to increase somewhat, though remain below the global average. Demand for construction equipment in Japan will benefit from an improvement in fixed investment activity, but is expected to continue to be undercut by soft public sector investment. Most West European markets are expected to experience only moderate construction equipment growth going forward, with even strongperforming Spain experience a tapering-off of demand. The strong euro, combined with an aging population and other constraints all foreshadow moderate growth at best for the region.

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INTRODUCTION
I. EXECUTIVE SUMMARY
II. ECONOMIC & MARKET ENVIRONMENT: General; World Economic Outlook; World Fixed Investment Outlook; World Demographic Outlook; Pricing Patterns; Technology
III. SUPPLY & DEMAND: General; World Heavy Construction Equipment Markets; World Heavy Construction Equipment Production; International Trade Flows
IV. NORTH AMERICA: General; United States; Canada; Mexico
V. WESTERN EUROPE: General; Germany; France; Italy; United Kingdom; Spain; Other Western Europe Countries
VI. ASIA/PACIFIC: General; Japan; China; Other Asia/Pacific Countries
VII. OTHER REGIONS: General; Latin America; Eastern Europe; Africa/Mideast
VIII. INDUSTRY STRUCTURE: General; Industry Composition; Market Share; Product Development & Manufacturing; Marketing & Distribution; Cooperative Agreements; Financial Requirements; Mergers, Acquisitions & Industry Restructuring; Company Profiles; Other Companies Mentioned in Study
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY: Summary Table
SECTION II -- ECONOMIC & MARKET ENVIRONMENT: 1 World Gross Domestic Product by Region; 2 Fixed Investment by Region; 3 World Population by Region; 4 World Urban Population by Region; 5 Heavy Construction Equipment Pricing Patterns
SECTION III -- SUPPLY & DEMAND: 1 World Heavy Construction Equipment Demand by Region; 2 World Heavy Construction Equipment Shipments by Region; 3 World Heavy Construction Equipment Production by Type; 4 World Heavy Construction Equipment Net Exports by Region
SECTION IV -- NORTH AMERICA: 1 North America Heavy Construction Equipment Supply & Demand; 2 United States Heavy Construction Equipment Supply & Demand; 3 Canada Heavy Construction Equipment Supply & Demand; 4 Mexico Heavy Construction Equipment Supply & Demand
SECTION V -- WESTERN EUROPE: 1 Western Europe Heavy Construction Equipment Supply & Demand; 2 Germany Heavy Construction Equipment Supply & Demand; 3 France Heavy Construction Equipment Supply & Demand; 4 Italy Heavy Construction Equipment Supply & Demand; 5 United Kingdom Heavy Construction Equipment Supply & Demand; 6 Spain Heavy Construction Equipment Supply & Demand; 7 Other Western Europe Heavy Construction Equipment Supply & Demand; 8 The Netherlands Heavy Construction Equipment Supply & Demand; 9 Austria Heavy Construction Equipment Supply & Demand; 10 Belgium Heavy Construction Equipment Supply & Demand; 11 Sweden Heavy Construction Equipment Supply & Demand; 12 Finland Heavy Construction Equipment Supply & Demand; 13 All Other West European Countries Heavy Construction Equipment Supply & Demand
SECTION VI -- ASIA/PACIFIC: 1 Asia/Pacific Heavy Construction Equipment Supply & Demand; 2 Japan Heavy Construction Equipment Supply & Demand; 3 China Heavy Construction Equipment Supply & Demand; 4 Other Asia/Pacific Heavy Construction Equipment Supply & Demand; 5 India Heavy Construction Equipment Supply & Demand; 6 South Korea Heavy Construction Equipment Supply & Demand; 7 Australia Heavy Construction Equipment Supply & Demand; 8 Taiwan Heavy Construction Equipment Supply & Demand; 9 Indonesia Heavy Construction Equipment Supply & Demand; 10 Thailand Heavy Construction Equipment Supply & Demand; 11 Malaysia Heavy Construction Equipment Supply & Demand; 12 All Other Asia/Pacific Heavy Construction Equipment Supply & Demand
SECTION VII -- OTHER REGIONS: 1 Other Regions Heavy Construction Equipment Supply & Demand; 2 Latin America Heavy Construction Equipment Supply & Demand; 3 Brazil Heavy Construction Equipment Supply & Demand; 4 Chile Heavy Construction Equipment Supply & Demand; 5 Argentina Heavy Construction Equipment Supply & Demand; 6 Other Latin America Heavy Construction Equipment Supply & Demand; 7 Eastern Europe Heavy Construction Equipment Supply & Demand; 8 Russia Heavy Construction Equipment Supply & Demand; 9 Poland Heavy Construction Equipment Supply & Demand; 10 Other Eastern Europe Heavy Construction Equipment Supply & Demand; 11 Africa/Mideast Heavy Construction Equipment Supply & Demand; 12 Turkey Heavy Construction Equipment Supply & Demand; 13 Other Africa/Mideast Heavy Construction Equipment Supply & Demand
SECTION VIII -- INDUSTRY STRUCTURE: 1 Revenue Data: Selected Construction Equipment Manufacturers, 2004; 2 Selected Cooperative Agreements; 3 Selected Acquisitions & Divestitures
LIST OF CHARTS
SECTION II -- ECONOMIC & MARKET ENVIRONMENT: 1 Per Capita Heavy Construction Equipment Demand/ per Capita Fixed Investment Relationship, 2004
SECTION III -- SUPPLY & DEMAND: 1 Global Construction Equipment Demand Drivers & Inhibitors; 2 Selected Global Age Distribution Trends, 2004; 3 World Heavy Construction Equipment Demand by Region, 2004; 4 Possible “Asset Light” Plays Related to Construction Equipment; 5 World Heavy Construction Equipment Shipments by Region, 2004
SECTION VIII -- INDUSTRY STRUCTURE: 1 World Heavy Construction Equipment Market Share by Company, 2004

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