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News » Plant » Global demand for construction machinery on the rise » published 26 Apr 2018

Global demand for construction machinery on the rise

The global market for construction machinery grew by 25% in 2017 to US$88 billion, according to an analysis by Off-Highway Research.

Unit sales grew by 27% in 2017 to 894,000 units worldwide, the highest the market has been since 2012, the report says.

Worldwide equipment* sales bottomed-out at 702,000 units and $70.6 billion in 2015 and 2016, the report says.

China rebounded strongly after a slump with sales of crawler excavators more than doubling in 2017 compared to 2016.

Construction equipment sales in India grew by 10% in 2017, continuing the momentum of the 36% surge seen in 2016, and taking demand for equipment to a new record high there.

Demand also grew across Europe, while North America recovered from the uncertainty of 2016 that had seen sales slow.

Off-Highway Research is predicting that global sales will grow 6% (by units) this year, and reach more than a million units in 2022. It sees growth in the next four years coming substantially from North America, putting a lot of faith in US president Donald Trump's infrastructure commitments.

North American unit sales dipped in 2016 amid US election uncertainty but grew to 173,188 units in 2017. Off-Highway Research forecasts a massive 54% growth in North America to 267,350 units by 2022.

 

Worldwide sales and forecast sales of construction equipment, 2017-2022 (Units)

 

2017

2018*

2019*

2020*

2021*

2022*

Europe

160,551

161,958

160,238

152,316

150,790

149,953

North America

173,188

193,250

217,525

238,515

255,325

267,350

Japan

67,810

59,330

61,700

65,285

71,845

66,845

China

217,110

245,232

225,965

201,945

212,520

222,700

India

60,485

67,560

66,410

72,460

78,310

83,960

Rest of the World

214,923

222,336

222,377

220,420

230,980

236,678

Total

894,067

949,666

954,215

950,941

999,770

1,027,486

% Change on Previous Year

+27

+6

-

-

+5

+3

 * - Forecast.
Source: Off-Highway Research

 

 

*  Equipment covered by the study is: articulated dump trucks, asphalt finishers, backhoe loaders, crawler dozers, crawler excavators, crawler loaders, mini excavators, motor graders, rigid dump trucks, rough terrain lift trucks (masted and telescopic handlers), skid-steer loaders, wheeled excavators and wheeled loaders.

MPU

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This article was published on 26 Apr 2018 (last updated on 26 Apr 2018).

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