Construction Equipment Market in Europe 2018-2022
About this market
Residential construction contributed most of the construction equipment marker in Europe in 2017. The low interest rates and improving employment levels are considered favorable for the growth of residential construction as it leads to increased demand for housing. Therefore, the rising demand for new housing units un Europe will drive the market growth during our forecast period. The construction equipment market in Europe is projected to grow at a CAGR of nearly 7% during the forecast period.
Improving employment level, low- interest rates, and growing refugee population
The increasing demand for new housing units in Europe will drive the growth of the construction equipment of Europe. Compact construction equipment such as backhoe loader, mini and excavators, medium- sized bull dozers and concrete mixer are the most used construction equipment for residential construction.
Shortage of semi- skilled and skilled workforce
Considering residential and commercial construction activities account for the majority of investment in the construction industry in Europe, any decline can cause significant growth impact in the overall European construction industry and construction equipment market in Europe.
For the detailed list of factors that will drive and challenge the growth of the construction equipment market in Europe during the 2018-2022, view our report.
The construction equipment market in Europe is highly fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Construction Equipment Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the construction equipment market in Europe: AB Volvo, Atlas Copco, Caterpillar, CNH Industrial, Hitachi Construction Machinery, Komatsu.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing the average selling price of construction equipment, thereby helps in price growth of the construction equipment market.”
According to the report, one of the major drivers for this market is the rapidly increasing employment level, low- interest rates, and growing refugee population.
Further, the report states that one of the major factors hindering the growth of this market is the shortage of semi- skilled and skilled workforce.
Hitachi Construction Machinery
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