LONDON--(BUSINESS WIRE)--Technavio has been monitoring the construction equipment market in Europe since 2014 and the market is poised to grow by USD 19.98 billion during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “Construction Equipment Market in Europe Analysis Report by Geography (Germany, France, UK, and Rest of Europe), Product (Earthmovers, Road equipment, Concrete equipment, and Cranes), and the Segment Forecasts, 2020-2024.”
The market is driven by factors such as improving employment levels, low-interest rates, and the increasing number of refugees and migrants in Europe. In addition, the revival of infrastructure investment in Europe is anticipated to boost the growth of the construction equipment market.
Over the past few years, Europe has witnessed a significant rise in the number of refugees in countries such as Germany and France. Despite this rise, the unemployment rate in Europe has reached its lowest level since 2018. In addition, the European Central Bank (ECB) has successively lowered the interest rates of home loans since 2008. These factors have increased the demand for new housing units, which is driving the need for construction equipment in Europe.
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Major Five Construction Equipment Market Companies:
AB Volvo operates its business through segments such as Industrial Operations and Financial Services. The company offers a wide range of construction equipment which includes haulers, wheel loaders, road construction machines, compact equipment, and excavators.
Atlas Copco AB
Atlas Copco AB operates its business through segments such as Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. The company offers breakers, hammers, rock drills, pneumatic dust collector, core drill, concrete saw, pumps, and hydraulic power packs.
Caterpillar Inc. operates its business through segments such as Construction Industries, Resource Industries, Energy & Transportation, and Financial Products. The company offers a wide range of construction machinery which includes asphalt pavers, feller bunchers, telehandlers, harvesters, compactors, motor graders, multi-terrain loaders, road reclaimers, and others.
CNH Industrial NV
CNH Industrial NV operates its business through segments such as Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company offers a wide range of construction equipment which includes excavators, crawler dozers, graders, wheel loaders, backhoe loaders, skid steer loaders, compact track loaders, and telehandlers.
Doosan Heavy Industries & Construction Co. Ltd.
Doosan Heavy Industries & Construction Co. Ltd. operates its business through segments such as DHI, DI, DE, DEC, Cuvex, and DBC. The company offers a wide range of construction machinery for highway/railroad and port/landfill/water and sewage.
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Construction Equipment Product Outlook (Revenue, USD Billion, 2020 - 2024)
- Road equipment
- Concrete equipment
Construction Equipment Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- Rest of Europe
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