Europe heavy construction equipment market Size was valued at USD 43,225.8 million in 2023. The Europe heavy construction equipment market industry is projected to grow from USD 46,024.5 million in 2024 to USD 79,466.8 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.07% during the forecast period (2024 - 2032).
The construction equipment is designed for executing the construction works. It is used for dozing, grading, hauling, compacting and leveling, placing materials, transferring heavy loads and excavating and digging the ground. It comprises the ditchers, bulldozers, pumps, graders, tractors, excavators, cranes, derricks, loaders and backbones. It also includes the pavers, scrapers, generators, pile drivers, concrete mixers, off-highway hauliers, trucks, and compactors and rollers. Due to the rising environmental concerns and the increasing need to promote energy conservation, several players are focusing on developing the fuel consumption for the construction equipment.
The significant growth of the construction of the housing projects and other commercial infrastructure on account of the rapid urbanization and the increasing global population represents one of the key factors influencing the Europe heavy construction equipment market growth. However, the rising of automation in the construction processes due to the scarcity of skilled labor and the increasing emphasis on minimizing the overall cost and the time for the project completion contributes to the market's growth.
In June 2023: Caterpillar Inc. unveiled the upgraded Cat 995 Wheel Loader. This new model represents a remarkable 19% improvement over its predecessor. It also promises to reduce hourly fuel usage by up to 13% while increasing efficiency by 8%.
Caterpillar introduced new Cat Smart Grader and Smart Dozer Blade choices in March 2023. The new external control kit for the GB120 and GB124 smart grader blades extends their use to Cat D and D2 series SSL and CTL machines, allowing clients with earlier model fleets to run smart blades.
CASE Construction Equipment, a CNH Industrial N.V. company, will release a new line of tiny articulated loaders and mini track loaders in October 2023. These machines are specifically intended to meet the demands of small contractors, providing them with powerful, efficient equipment that can tackle a wide range of construction activities while eliminating manual labor.
Large construction projects worldwide are expected to drive the crane and the construction machinery market shortly. Europe is planning on various construction projects; Germany, France, and Italy witnessed the highest growth rates due to the region's construction projects.
The projects include the port extension, an underwater tunnel connecting the major European regions, and the railway tunnels, including the use of the many types of cranes that drive the entire growth of the Europe heavy construction equipment market sectors.
December 5, 2023: JCB Unveiled new 55Z-1 electric mini excavator, expanding electric machine portfolio. (Source: JCB website)
In March 2021, Rothmund GmbH Kran und Montage purchased its second LTM 1230-5.1 from Liebherr after buying the first six months ago. In the same month, Schussmann Kranservice GmbH also received the new LTM 1230-5.1.
European market growth is mainly depending upon the countries such as Italy, Germany, U.K, Spain and France and others.
The European market is facing an economic slowdown in the recent years due to the unusual demand. Due to the Europe heavy construction equipment market uncertainty and sovereign debt crisis the Western European countries are facing the restraints in the growth activities but Scandinavian countries such as Denmark, Norway and Sweden are likely to be safe from this crises and uncertainty. The heavy construction equipment market is expecting ainadequate growth rate forecast in both commercial and residential spending by 2030. Also there are many planned constructions site are planning on postponing their plan due to the crises.
The spending on construction are likely to be stable and stagnant in in Western Europe with a very little growth expectations. Germany is considered to be a fasting growing region in Europe followed by Spain, Ireland, U.K, France and others. These regions will experience a decline growth rate till 2027.
In the coming years, the Eastern Europe countries such as Poland, Russia and others will be expecting positive waves of huge spending on constructions. Non- residential sector will be forecasted as the fastest growing sector.
Huge investment from Asia-Pacific and North America has created a ladder of opportunity for the European market to grown in the coming years.
Furthermore, the report offers broad analysis of industry overview of Heavy Construction Equipment which includes types, application analysis, end users, supply chain management and key regulations in various regions along with the heavy construction equipment distributor analysis.
Nextly, the report covers geographical analysis of Western Europe and Eastern Europe. Furthermore, the report has been bifurcated on the basis of by types (earthmoving equipment, material handling equipment, heavy construction vehicles, others (cranes, excavator, dozer)), by application (mining & excavation, earthmoving, transportation, lifting, material handling, others), by end users (oil & gas industry, construction industry, military, mining, agriculture & forestry and others).
The heavy construction equipment market analysis research report provides detail analysis of market in terms of value market. The report also provides the future outlook of the market till 2021. Moreover, the global as well as market share of various players based on methods is also analyzed in the report. Lastly, the report provides company profiles of major players in the market.Finally, the report provides trends, drivers and restraints along with the conclusion.
This market research report covers the Europe: heavy construction equipment analysis market by types, application, end users and region.
To calculate Heavy Construction Equipment market size, we have considered revenue of top players in the market and to offer accuracy, our research is supported by industry experts who offer insight on industry structure and technology assessment, competitive landscape, penetration, emerging products and trends. Their analysis is based (80 to 85%)on primary &(15 to 20%) on secondary researchas well as years of professional expertise in their respective industries. In addition to analyze current and historical trends, ouranalysts predict where the market is headed over the next five to ten years. It varies by segment for these categories geographically presented in the list of Europe Heavy Construction Equipment market tables. Top-down and bottom-up are important strategies of processing the information and knowledge ordering, used in a variety of fields including humanistic, software and scientific theories and management and organization. Inpractice, they can be seen as a style of thinking, teaching, or leadership.
Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
| Attribute/Metric | Details |
| Market Size 2023 | USD 43,225.8 Million |
| Market Size 2024 | USD 46,024.5 Million |
| Market Size 2032 | USD 79,466.8 Million |
| Base Year | 2023 |
| Compound Annual Growth Rate (CAGR) | 7.07% (2024-2032) |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2022 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Applications and End-users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (Row) |
| Key Vendors | Volvo Construction Equipment, Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Doosan Heavy Industries & Construction, Liebherr group, CNH Industrial, Kobe Steel, Ltd. (Kobelco), and Atlas Copco. |
| Key Market Opportunities | Government initiatives for various services like education, healthcare, public transport, infrastructure, and other facilities |
| Key Market Drivers | Increase in Demand of construction equipment Development of infrastructure |
Heavy Construction Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
The Europe heavy construction equipment market is expected to record a substantial market valuation of 79,466.8 billion by 2032.
The Europe heavy construction equipment market is projected to register a moderate 7.07% CAGR in the forecast period.
A few major market players operating in the Europe heavy construction equipment market are Caterpillar Inc., AB Volvo , J C Bamford Excavators Ltd, CNH Industrial N.V., among others.
The construction segment is slated to expand as the fastest-growing segment.
The material handling equipment segment is slated to expand as the fastest-growing segment.
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Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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