Europe Construction Equipment Market Research Report, 2029

As the demand for technologically advanced equipment has picked up a pace around the region, the production capacities of the equipment manufacturers have not sped up. Many manufacturers have already reported being insufficient in obtaining components at the required rate. Currently, such equipment is being utilized the most for building residential units because of Europe's growing population, which is increasingly moving to the cities. Known to be the second smallest continent in the world, Europe occupies nearly one-fifteenth of the world's total land area and is composed of the Eurasia peninsula projecting westward. A steady increase in the market can be owed to the increase in developments in infrastructure, including the construction of more commercial buildings, renovations in the existing residential models, and the construction of road transport in the region. According to the research report "Europe Construction Equipment Market Research Report, 2029" published by the Actual Market Research, the market in the region was valued at around USD 38 billion in 2023. The report includes a study of how the market has evolved over the years, as well as how the market is expected to grow in the forecasted period. Overall, the European market has shown impressive growth, but the progress is not evenly distributed over the region. Southern Europe is still comparatively at a low level, but the gap between the north and south markets has started to get smaller with governments' efforts to improve the infrastructure in the overall region.

What's Inside a Actual Market Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

In this regard, the rapid construction of smart cities is driving the demand for machinery for construction and material handling. As human activities, such as electricity generation and transportation, contribute to the degradation of the environment, cities of the future are being designed to curb environmental degradation by reducing the consumption of electricity. Moreover, the total cost of ownership of EVs is lower than those running on diesel and gasoline, as electric variants do not have many of the mechanical parts common in conventional powertrains. This makes the maintenance of electric construction and material handling machinery cost-effective. Moreover, electricity is cheaper than diesel, which further reduces the total cost of ownership of EVs. This is why major European construction and material handling machinery market players are launching electric variants of such machines. For instance, Cargotec Corporation launched eight electric lifting equipment models under the Kalmar Electric Reachstacker brand in December 2023. The material handling & cranes segment is anticipated to witness a rapid growth rate in the European construction equipment market owing to an attractive economic landscape and significant demand for goods movement. Furthermore, the need for a safe working environment in industrial facilities in European countries will fuel the demand for cranes and other material handling equipment. The increasing adoption of bulk-material handling equipment for the fast completion of large construction projects is augmenting equipment demand in Europe. Furthermore, to fight major problems like traffic congestion, population explosion, high manufacturing costs, and ageing transportation infrastructure, developing economies are now investing heavily in infrastructure development. Developed economies are focusing on improving their current infrastructure by investing in technologies such as earthquake-proof buildings, hyperloop, etc. These factors are boosting the sales of construction machinery across the globe. The demand for machines that are cost-effective, along with regulatory pressures for lower emissions, is pressuring construction-equipment manufacturers to opt for electric and hybrid vehicles over the traditional hydraulic and mechanical ones across the European region. In addition to that, the construction industry is getting smarter. Digitalization, connectivity, and automation are driving development forward, having a substantial impact on construction projects. Tech company Iotic, construction company BAM Nutall of the UK and researchers from Cranfield University have developed an AI based twin technology system that gives live updates of the progress at a construction site. This technology increases on-site productivity and operational efficiency.

Make this report your own

We're excited to discuss your needs and our solutions. Let's schedule a call.

Ask an Expert

Nikita Jabrela

Business Development Manager

The construction industry contributes more than 9% of the European Union's current GDP. Europe is witnessing a major growth in construction owing to the rapid development of transport infrastructure. Projects such as London Crossrail (worth more than EUR 17 billion) and Germany and Denmark's Fehmarn Belt Fixed Link, which is 18 kilometers long and the world's longest immersed road and rail tunnel, are driving the growth of the market. When compared to the United States, Europe ranks high in the usage of wheeled excavators. Most of the work done in Europe takes place in urbanized areas, while in the United States; work projects include major clearing of land and digging. Demand for construction equipment grew in almost every country after the economic slowdown of 2008–10. This can be credited to factors such as residential construction activities in Germany and France; low interest rates; and infrastructure development in South European nations. The big city plan will increase the size of Birmingham, England by 25%. With an estimated cost of USD 17 billion, this plan aims at constructing 5000 new houses and revamping New Street Station at an estimated cost of 600 Million Euros. The European construction equipment market is a consolidated one with players such as Liebherr, Volvo Equipment, etc. dominating the market. Volvo Construction Equipment announced in an official statement that it will start producing compact electric excavators and wheel loaders in 2019. From mid-2020, EC 15 to EC 27 electric excavators and L20 to L28 electric wheel loaders will be in production. The European Construction Equipment Market's Recent Launch

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

• In Europe, CASE Construction Equipment introduced the new Mini-Excavator D-Series line, which includes 20 models ranging from 1-tonne to 6-tonne, as well as two electric variants. • Each new D-Series Mini-Excavator is equipped with the latest technology, features, and attachments for all markets and applications. • In addition, the range offers a complete line-up of machines that deliver a solution for any customer’s needs. The European CASE D-Series Mini-Excavator series is produced in dedicated plants in Italy using synergies in innovation, technology, expertise, and production. • Volvo Construction Equipment (Volvo CE) has announced that three new electric-powered compact equipment models will be introduced. The new L20 Electric from Volvo CE is a 4.5-ton wheel loader with a 1.8-ton payload and a 1.65-meter track width. • The L20 Electric has a parallel-type linkage for better vision over the attachment in use, as well as 100% parallel movements for fork applications. The new EC18 and ECR18 electric compact excavators are similar to their diesel counterparts in many ways. Europe is also witnessing 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.). The governing bodies of several countries across Europe have been investing in the development of road infrastructure, railway infrastructure, and commercial places. For instance, in December 2020, the European Union announced the Sustainable and Smart Mobility Strategy that aims for a two-fold increase in high-speed rail traffic by 2030 and a three-fold increase by 2050. COVID-19 Impacts: The rapidly spreading COVID-19 health crisis has affected the global economy on a large-scale. Stringent lockdowns announced by several countries across the globe have resulted in a temporary suspension of construction activities. The pandemic has also led to financial insecurities among consumers in Europe, owing to which the demand for new residential properties is sharply declining. Construction contractors and companies operating in the infrastructure development sector are postponing the purchases of new construction equipment, thereby hampering industry growth in 2020. However, infrastructure development activities have especially picked up since the lifting of the COVID-19 lockdowns on the continent, as the long-delayed projects now need to be completed at a much higher pace. Considered In the Report • Geography: Europe • Base year: 2023 • Historical year: 2018 • Estimated year: 2024 • Forecasted year: 2029 Countries covered: • UK • Germany • Russia • France • Spain • Italy Aspects Covered In the Report • Market Size by Value for the historic time period (2018-2023) • Market Size by Value for the forecast time period (2023-2029) • Market Share by Application (2018, 2023 & 2029F) • Market Share by Equipments (2018, 2023 & 2029F) • Market Share by Country (2018, 2023 & 2029F) • Market Share by Company (2023) By Application • Earth Moving Machinery • Material Handling Machinery • Concrete and road construction Machinery • Other Machinery By Earth Moving Machinery • Excavators • Loaders • Dozers • Motor Graders By Material Handling Machinery • Dumper /Dump Truck/ Tippers • Cranes (Tower Crane, Mobile Crane) • Telescopic Handlers • Forklift By Concrete and Road Construction Machinery • Cement/Transit mixers • Compactors & Road Rollers • Pavers/Asphalt Finishers • Others The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.?