Construction Equipment Market in Europe Size to grow by USD 6.7 billion between 2024-2028
According to a research report “ Construction Equipment Market in Europe” by Application (Commercial, Residential, Infrastructure) Product (Earthmoving equipment, Material handling equipment, Concrete equipment, Road construction equipment, Others) Geography (Europe)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 6.7 billion, at a CAGR of over 3.22% during the forecast period. The European construction equipment market is experiencing robust growth due to the surge in large-scale infrastructure projects funded by the European Union (EU) and various national governments. These investments are primarily focused on the development of renewable energy projects, urban modernization, and transportation network enhancements. Consequently, there has been a marked increase in the construction of highways, roads, bridges, railways, airports, and energy facilities. To cater to these projects, there is a heightened demand for advanced construction machinery such as excavators, bulldozers, loaders, and cranes. The need for replacement and upgrades of outdated equipment with more efficient, effective, and eco-friendly alternatives is being driven by stringent emissions and safety regulations in Europe. This regulatory environment is expected to fuel market expansion throughout the forecast period.
Browse market data tables, figures, and in-depth TOC on “Construction Equipment Market in Europe” by Application (Commercial, Residential, Infrastructure) Product (Earthmoving equipment, Material handling equipment, Concrete equipment, Road construction equipment, Others) Geography (Europe) Global Forecast to 2028. Download Free Sample
By Application, the Commercial segment is projected to dominate the market size in 2024
The European construction equipment market exhibits robust growth, driven by increasing infrastructure investments and housing sector recovery. Key players in this sector include Caterpillar, Volvo Construction Equipment, and Komatsu. Advanced technologies such as automation, electrification, and telematics are transforming the industry landscape, offering significant opportunities for market expansion. The market is expected to continue its upward trajectory, fueled by public and private sector spending on construction projects.
By Product, Earthmoving equipment segment is expected to hold the largest market size for the year 2024
The European construction equipment market is experiencing significant growth, driven by increasing infrastructure investments and housing sector recovery. Key players in this sector include Caterpillar, Volvo Construction Equipment, and Komatsu. Innovations in technology, such as autonomous machinery and electric equipment, are also contributing to market expansion. This trend is expected to continue, making the European construction equipment industry an attractive business opportunity.
Europe is forecasted to hold the largest market size by region in 2024
The European construction equipment market is experiencing significant growth, driven by increasing infrastructure investments and a recovery in the real estate sector. Key players in this market include Caterpillar, Volvo Construction Equipment, and Komatsu. Advanced technologies such as automation and electrification are also gaining traction, offering opportunities for innovation and efficiency improvements. The market is expected to continue its positive trajectory, with a CAGR of 5% over the next five years.
The Construction Equipment Market in Europe growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The European construction equipment market is a significant sector, encompassing Excavators and Earthmoving machinery, Engine technologies, and various other types of equipment. Key players in this market include OEMs like Mack Trucks, known for their IC Engine-powered Motor Graders, Loaders and Backhoe, and Telescopic Handling equipment. Engine technologies continue to evolve, with the adoption of Diesel particulate filters becoming increasingly common to meet Emission norms. Off-road recreational vehicles, Railroad engines, Inland waterway vessels, and Non-road mobile machinery also fall under this market. Innovations such as AI-based twin technology, Virtual reality, Augmented reality, IoT, and AI-driven analytics are transforming the industry, enhancing productivity and efficiency. The transportation sector, housing sector, and infrastructure projects are major consumers of construction machinery. Mack Trucks, for instance, recently unveiled their new IC Engine, showcasing improved fuel efficiency and reduced emissions. Cranes, an essential part of the construction equipment landscape, are also evolving with automation and digital technologies. The European Green City Project further underscores the importance of this market, as sustainable construction practices gain prominence. As the industry continues to innovate and adapt to changing regulations and consumer demands, it is poised for continued growth.
Market Research Overview
The European construction industry is a significant consumer of various types of construction equipment, including Construction Pumps, Pavers, Concrete Mixers, Truck Mounted Cranes, Trailer Mounted Cranes, Crawler Cranes, Loaders, and Excavators. With the increasing focus on sustainability goals, there is a growing trend towards the adoption of electric vehicles and hybrid vehicles in the construction equipment market. This includes electric road rollers, compact electric excavators, and wheel loaders. Manufacturers such as Mack Trucks are leading the way with IC Engine technology, while OEMs are also investing in engine technologies like Diesel Particulate Filters to reduce Particulate Matter (PM) emissions and meet SOx and NOx emission standards. The construction equipment market in Europe is also witnessing the adoption of AI-based twin technology, virtual reality, augmented reality, IoT, and AI-driven analytics for automation and digitalization. The European construction industry, which includes the housing sector, transportation infrastructure sector, and infrastructure projects, is expected to grow due to increasing real estate investments, housing rates, and construction activity. The demand for earth moving equipment, excavators, and cranes is expected to remain high in this context. However, the adoption of green city projects and emission norms is also driving the market towards the use of sustainable technologies and equipment. Other sectors such as off-road recreational vehicles, railroad engines, and inland waterway vessels are also subject to GHG standards and are adopting electric and hybrid technologies to reduce their carbon footprint. Overall, the construction equipment market in Europe is poised for growth, driven by the need for sustainable and efficient solutions in the construction, transportation, and infrastructure sectors.
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