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Published by: Freedonia Group Inc
Published: Aug. 1, 2005
Table of Contents
- INTRODUCTION
- I. EXECUTIVE SUMMARY
- II. ECONOMIC & MARKET ENVIRONMENT
- General
- World Economic Outlook
- World Fixed Investment Outlook
- World Demographic Outlook
- Population Outlook
- Urban Population Outlook
- Pricing Patterns
- Technology
- III. SUPPLY & DEMAND
- General
- World Heavy Construction Equipment Markets
- Regional Markets
- Rental/Leasing Markets & Beyond
- World Heavy Construction Equipment Production
- Producing Countries
- Products
- Loaders
- Off-Highway Trucks & Tractors
- Cranes & Draglines
- Graders, Rollers & Related Products
- Mixers, Pavers & Related Products
- Parts & Attachments
- 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
- The Netherlands
- Austria
- Belgium
- Sweden
- Finland
- All Other West European Countries
- VI. ASIA/PACIFIC
- General
- Japan
- China
- Other Asia/Pacific Countries
- India
- South Korea
- Australia
- Taiwan
- Indonesia
- Thailand
- Malaysia
- All Other Asia/Pacific Countries
- VII. OTHER REGIONS
- General
- Latin America
- Brazil
- Chile
- Argentina
- Other Latin America
- Eastern Europe
- Russia
- Poland
- Other Eastern Europe
- Africa/Mideast
- Turkey
- Other 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
- Allgemeine Baumaschinene-Gesellschaft mbH, see Ingersoll-Rand Company Limited
- American Augers Incorporated, see Astec Industries Incorporated
- Astec Industries Incorporated
- ASV Incorporated, see Caterpillar Incorporated
- Atlas Copco AB
- Bell Equipment Limited, see Deere & Company
- Berco SpA, see ThyssenKrupp AG
- Bharat Earth Movers Limited
- Blaw-Knox Construction Equipment Corporation, see Ingersoll-Rand Company Limited
- Bobcat Company, see Ingersoll-Rand Company Limited
- Carlson Paving Products Incorporated, see Astec Industries Incorporated
- Caterpillar Incorporated
- Chelyabinsk Tractor Plant-Uraltrac Limited
- Chicago Pneumatic Tool Company, see Atlas Copco AB
- CNH Global NV, see Fiat SpA
- Consolidated Diesel Company, see Cummins Incorporated and Fiat SpA
- Cummins Incorporated
- Cummins Komatsu Engine Company, see Cummins Incorporated and Komatsu Limited
- Daewoo Heavy Industries & Machinery Limited, see Doosan Infracore Company Limited
- Deere-Hitachi Construction Machinery Corporation, see Deere & Company and Hitachi Limited
- Deere & Company
- Doosan Infracore Company Limited
- Dynapac AB
- European Engine Alliance, see Cummins Incorporated and Fiat SpA
- Fiat SpA
- Gehl Company
- Hensley Industries Incorporated, see Komatsu Limited
- Herrenknecht AG
- Hitachi Limited
- Hitachi Sumitomo Heavy Industries Construction Crane Company Limited, see Hitachi Limited and Sumitomo Heavy Industries Limited
- Hyundai Heavy Industries Company Limited
- Industrial Power Alliance Limited, see Cummins Incorporated and Komatsu Limited
- Ingersoll-Rand Company Limited
- Intensus Engineering Incorporated LLC, see Xuzhou Construction Machinery Group Company Limited
- Ishikawajima-Harima Heavy Industries Company Limited
- JCB Limited
- JLG Industries Incorporated
- Kobe Steel Limited
- Kobelco Construction Machinery America LLC, see Fiat SpA and Kobe Steel Limited
- Komatsu Cummins Engine Company Limited, see Cummins Incorporated and Komatsu Limited
- Komatsu Limited
- Kubota Corporation
- L&T-Case Equipment Private Limited, see Fiat SpA
- LBX Company LLC, see Fiat SpA and Sumitomo Heavy Industries Limited
- Liebherr-International AG
- Link-Belt Construction Equipment Company, see Sumitomo Heavy Industries Limited
- Manitowoc Company Incorporated
- Metso Corporation
- Mitsubishi Heavy Industries Limited
- OmniQuip, see JLG Industries Incorporated
- Rental Service Corporation, see Atlas Copco AB
- Roadtec Incorporated, see Astec Industries Incorporated
- Sakai Heavy Industries Limited
- Shin Caterpillar Mitsubishi Limited, see Caterpillar Incorporated and Mitsubishi Heavy Industries Limited
- Sumitomo Heavy Industries Limited
- Tadano Limited
- Tata Cummins Limited, see Cummins Incorporated and Tata Group
- Tata Group
- Telco Construction Equipment Company Limited, see Hitachi Limited and Tata Group
- 10G LLC, see Caterpillar Incorporated
- Terex Corporation
- ThyssenKrupp AG
- Trencor Incorporated, see Astec Industries Incorporated
- Volvo AB
- Xiamen Engineering Machinery Company Limited
- Xuzhou Construction Machinery Group Company Limited
- 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
AbstractGlobal 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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