The Europe heavy-duty construction equipment market is anticipated to grow significantly at a CAGR of 6.9% over the forecast period (2021-2027). The UK, Germany, France, Italy, Spain, and the Rest of Europe are some of the key economies that contribute to the growth of the European heavy-duty construction equipment industry over the forecast period. The key aspect that drives the growth of the Europe heavy-duty construction equipment market is growth in the construction industry along with the government investments for the construction sector growth. On 17 March 2020, the European Commission has approved an investment package worth more than $1.7 billion of EU funds in 14 large infrastructure projects in 7 Member States, namely Croatia, Czechia, Hungary, Poland, Portugal, Romania, and Spain.
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This huge investment has been done by the government for the infrastructural development in the region, such as improving rail network, reliable and efficient energy supply, flood safety & improving sustainable water management, clean energy, and better transport services, upgrading public transport, access to clean water and better healthcare, and many more. In addition, Trans-European Network for Transport (TEN-T), the world’s biggest infrastructure project, crossing geographic and political borders, connecting economic markets, and trade mega centers while combining different European cultures. This also contributes to market growth.
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Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- By Machinery Type, Applications, and Industry
· Region Covered- Europe
· Competitive Landscape- Caterpillar Inc., Deere & Co., Komatsu Ltd., Liebherr Group, CNH Industrial NV, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., and Kobelco Construction Machinery Co. Ltd. among others
Europe Heavy-Duty Construction Equipment Market – Segmentation
By Machinery Type
Earth Moving Equipment
· Cranes
· Loader & Backhoe
· Telescopic Handlers
· Excavators
· Others (Graders, Trencher)
Material Handling Equipment
· Hoists
· Conveyors
· Forklifts
· Others (Industrial Trucks)
Other Heavy-Duty Construction Equipment
· Concrete Mixers
· Road Rollers
· Stone Crushers
· Dumpers
· Tippers & Trailers
· Others (Slurry Seal Machines)
By Applications
· Excavation & Demolition
· Heavy Lifting
· Handling
· Transportation
· Recycling & Waste Management
· Others (Tunneling)
By Industry
· Construction & Infrastructure
· Manufacturing
· Mining
· Others (Oil & Gas)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
