Europe Construction Equipment and Material Handling Machinery Market To Touch USD 75,436.3 million by 2030 | CAGR 5.1%

In various nations in Europe, governing organization is rapidly investing in the growth of commercial places, road infrastructure, and railways infrastructure. For example, the European Commission is planning to spend around USD 340 billion in 2027 on digital, climate, and infrastructure projects.

Therefore, the market for Europe Construction equipment and material handling machinery is on track to hitting USD 75,436.3 million in 2030, as per a report by P&S Intelligence.

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This growth of the industry is attributed to the surging labor price in the construction industry, surging need for offsite and modular buildings, increasing spending on infrastructure, and the fast expansion of smart cities in the region.

In the European market, the need for electric construction equipment is rapidly emerging at the higher rate. For example, in France, the construction industry holds about 44% of the energy use and around 25% of the nation's CO2 emissions stated by the French Ministry of Ecological and Inclusive Transition.

Residential housing is the largest user, with a share of above 40%, in the industry. In Europe, the requirement for economic housing is frequently growing and government organizations are rapidly applying procedures to tackle the demand from the population.

In European Union member states, the rate of VAT decreasing for the construction or purchase of a new house is normally applied. For example, in the U.K., people can able to buy a new home at a 30% discount in their community, according to the First Homes Scheme.

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Some of the major players operating in the European construction and material handling machinery market are:
1- Caterpillar Inc.
2- AB Volvo
3- Sany Heavy Equipment International Holdings Company Limited
4- Komatsu Ltd.
5- Hitachi Ltd.
6- J.C. Bamford Excavators Limited
7- Xuzhou Construction Machinery Group Co., Ltd.
8- The Manitowoc Company Inc.
9- Kion Group AG
10- CNH Industrial N.V.

Browse more reports:

Western and Central Europe Agricultural Machinery Market - https://www.psmarketresearch.com/market-analysis/western-central-europe-agricultural-machinery-market

Construction Equipment Market - https://www.psmarketresearch.com/market-analysis/construction-equipment-market

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This release was published on openPR.