Impact of Covid-19 Outbreak on Construction Equipment Market Share

02/giu/2020 07:00:54 Automotive Market Research Reports Contatta l'autore

Questo comunicato è stato pubblicato più di 3 mesi fa. Le informazioni su questa pagina potrebbero non essere attendibili.

The Europe heavy construction equipment market is primed for a magnificent valuation till 2027, according to the latest analysis by Market Research Future (MRFR). This can be credited to the resurgence of the construction sector in developed economies and sharp rise of infrastructural projects in developing nations. The massive demand for heavy construction equipment such as earth movers amid the high need for houses in suburban and urban areas is likely to drive the market growth. Rapid urbanization and public development schemes for the upliftment of persons living in poor neighborhoods can positively impact the market.

The move by construction original equipment manufacturers (OEMs) for introducing new products and marketing strategies for improving their aftermarket channels can bolster the market demand. Government policies mandating the non-use of diesel vehicles can lead to realty developers shifting to electric equipment creating an opportunity for electric construction equipment manufacturers. Benefits of these equipment include low emissions and low total ownership cost can influence the market till the end of the forecast period.

The boom of the construction sector in the U.K. and Poland is expected to provide a plethora of opportunities to the Europe heavy construction machinery market. Export of machinery from Asian countries to Europe is predicted to bolster the market growth. Considerable investments by governments of both nations combined with public housing projects coupled with a sizeable budget for supporting people with affordable housing can drive the market growth.

Segmentation

The Europe heavy construction equipment market has been segmented based on type, application, and end users.

By type, the heavy construction equipment market in Europe has been segmented into earthmoving equipment, heavy construction vehicles, material handling equipment, and others. Others consist of cranes, dozer, and excavator.

By application, the Europe heavy construction equipment market has been segmented into earthmoving, transportation, mining & excavation, lifting material, handling, and others.

By end user, the Europe heavy construction equipment market has been segmented into oil & gas industry, military, mining, agriculture, construction industry, forestry, and others.

Regional Analysis

Region-wise, the Europe heavy construction machinery market has been segmented into Western Europe and Eastern Europe. The majority of the growth of the Europe heavy construction equipment market is cornered towards Western Europe where Italy, Germany, U.K, Spain, France and others are contributing majorly to the market growth. However, due growing uncertain market conditions and sovereign debt crisis that the countries in the Western part of the region are facing, the market growth is estimated to become stagnant. The Western Europe region can witness massive demand from the residential sector. Germany and U.K. are bound to exhibit high growth rates, while France may experience a modest growth rate during the forecast period.

Meanwhile, the market in Eastern Europe is expected to see positive winds of change in the coming years. Huge construction spending in the countries such as  Poland, Russia and others are expected to impact the market positively. The non-residential sector is expected to exhibit maximum growth. Germany is anticipated to be the fastest growing country-specific market in Europe followed by Spain, Ireland, France, and others.

Industry Updates

July 2019 - Schwing Stetter India (SSI), a leading concreting equipment manufacturer launched its new generation of XCMG crawler hydraulic excavator range. The range is inclusive of three machines - XE80C, XE140I and XE215C that are designed to meet the needs of industries such as construction, earthwork, mining, quarry, excavation, and others. With the launch of the new heavy construction equipment range, the company made its foray into the construction and mining sector.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

blog comments powered by Disqus
Comunicati.net è un servizio offerto da Factotum Srl