Europe Construction Equipment Market Outlook, 2025
Updated on Feb 15, 2021
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Known to be the second smallest continent in the world, Europe faced a flourishing infrastructure market which showed a sustainable growth; faced a decline since the year 2009. Post this decline, necessity measures have been taken to bridge the gap in the economy. Even though the estimated investments have collapsed below the required levels, the efforts continue to attracted more private and public investments. The report on 'Europe Construction Equipment Market Outlook, 2025' by Bonafide Research concentrates on the performance of the Europe market, which is likely to grow with a CAGR of more than 5%. While all the major countries are expected to show a decrease in the market share, only Russia is expected to have a marginal growth by the end of the forecasted period. While the collection of the smaller countries are to contribute more in the forecasted period in comparison to the major countries, expected to grow to more than 27% by the end of the forecasted period. With the country entering into Berxit transaction period coupled with the outbreak of Covid-19, the situations becomes unfavourable for the construction equipment market in the country. The construction industry is expected to face transformation in the coming future, which requires a critical importance of a supportive European policy framework to master this digital transformation. While the highly advanced digitalized machines are already in the mainstream business in the industry, the actual uptake of such technologies is still low in the European construction sector. At the same time, and with technology evolving fast, both sectors need to master the bigger digital transformation to remain globally competitive. Also, as the Europe Union on whole is considered as a most popular tourist destination, the need for improving the land transport networks remains constant and thus making the concrete & road construction machinery more popularly demand construction equipment among the contractors, with an expectation to reach a USD 9.48 Billion, while growing with a CAGR of more than 7%. Even as the region strikes back from the earlier economic crises, it faces a fall due to Covid-19 pandemic. The region regains an immediate comeback within a year, reaching to a market of more than USD 34 Billion by 2021. Due to the market uncertainty and sovereign debt crisis, the Western European countries were facing the restraints in the growth activities but countries such as Denmark, Norway, and Sweden were relatively safe from the crises and uncertainty. Though it can be expected to give more space for the growth of construction equipment demand, the restricted availability of machine operators sets a limitation on the equipment sales. Apart from this, the ongoing economic uncertainties hinder the market growth up to a certain extent. The unavailability of the components also hampers the development of the market in the region. Many manufacturers have already reported being insufficient in obtaining components in the required rate. Due to this, the marketers are not able to meet the pace of the demand and have resulted in a higher rate of the equipments.