Europe Construction Equipment Market to reach US$ 304.43 Billion by 2032

The Europe construction equipment market is projected to exhibit growth at over 6% during the forecast period (2021-2031), as per a recently published Fact.MR report. Construction equipment market is witnessing a huge turnaround in developed economies with the pandemic having come full circle. As of 2022, the market is poised to be valued at US$ 170 Billion.

Europe is also witness to a construction boom of late in the region on account of residences for nuclear families pitching-in together. This includes Milanosesto Mixed-Use Complex (Italy), ZAC Campus Grand Parc Mixed-Use Development (France), Viadux Mixed-Use Community (U.K.), Camden Goods Yard Mixed-Use Community (U.K.), and Sackville Road Residential Community (U.K.).

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Key Takeaways from Market Study

Construction equipment market in Europe to reach US$ 304.43 Billion by 2032
By product, earthmoving machinery to account for over 59% of the Europe construction equipment market
Germany to be a key contributor to market growth, flourishing at a 6.3% CAGR until 2032
From 2015 to 2021, construction equipment demand expanded at a 5.8% value CAGR, reaching US$ 161 Billion
Europe construction equipment market worth to expand 1.8x from 2022 to 2032
Development of Market

The European construction equipment market is a consolidated market with key players such as Liebherr, Volvo Equipment etc. dominating the market.

In 2019, Volvo Construction Equipment announced in a official statement that it will start producing compact electric excavators and wheel loaders. EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be in production from mid-2020.
The new electric mobile crane from Manitex Vall, the V 110 R, was launched in February 2021. The battery-powered and remote-controlled lift rises to a height of 10.4 meters, has a lifting capacity of 11,000 kg and functions at a height of 10.4 meters.

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Prominent Drivers Influencing the Construction Equipment Market across Europe
Increase in Infrastructure Investments post the COVID-19 Pandemic

Construction is among the significantly impacted industries due to the COVID-19 pandemic. Sales of construction equipment have fallen globally. Factors impacting construction equipment manufacturers include investments in infrastructure, residential, commercial, and industrial construction, mine and well construction, and institutional spending.

Countries such as the U.K and Germany are among the significantly affected countries. However, there is significant demand for projects such as hospitals and other medical facilities, laboratories, and shipping and logistics infrastructure. In addition, some countries have begun moderately reopening activities across sectors, including the construction industry.

Incorporation of Electric and Autonomous Construction Equipment to attract Major Investments

Electrification is shaping the construction equipment market and offering significant opportunities and design possibilities. Electrification has been increasing in most market segments such as cars, buses, etc., including construction equipment. This has been made possible as advanced technologies are increasingly mature and affordable as they are also increasing regulations on emissions that have changed the future of the construction equipment industry.

Several cities around the world have announced bans on the use of diesel within city limits, impacting the operation of construction equipment in these cities. Also, stricter emission regulations are being implemented for heavy machinery and equipment on the global, regional, and local levels in European countries.

The emission and noise-pollution standards implemented by these regulations can be easily overcome with the use of electric construction equipment. This offers opportunities for construction manufacturers for the introduction of electric variants of existing/new products in the market.

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Key Segments Covered in the Europe Construction Equipment Market Report

Europe Construction Equipment Market by Product
Earth Moving Construction Machinery
Excavator
Loader
Others

Construction Material Handling Machinery
Crawler Cranes
Trailer Mounted Cranes
Truck Mounted Cranes

Concrete and Road Construction Machinery
Concrete Mixer & Pavers
Construction Pumps
Others

Europe Construction Equipment Market by Country
Germany
France
U.K
Italy
BENELUX
Nordics
Rest of Europe

Competitive Landscape: Top Companies in Construction Equipment Market

The European construction equipment market is a consolidated market with key players such as Liebherr, Volvo Equipment and Wirtgen Group dominating the market. For instance:

In 2019, Volvo Construction Equipment announced in an official statement that it will start producing compact electric excavators and wheel loaders: EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders.

In 2020, Dutch company BAM infra built world's first electric road roller that is capable of saving more than 70 liters of fuel per day and cutting 236 kilograms of carbon dioxide per day. The roller is currently deployed at Almere municipality and it is helping BAM infra to achieve its sustainability goals.

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