Latest research: Equipment sales in Europe set to remain high
By Mike Hayes30 March 2023
Off-Highway Research is forecasting continued near-record numbers of construction machines will be sold in Europe over the next five years.
The construction market analyst reported that sales of construction equipment in Europe rose 4% in 2022 to a total of 216,861 units.
This increase from 2021’s already high level of 208,288 machines sold maintained the market at a high level, and comparable with the previous record set in 2007.
The strongest growth in 2022 was seen in the larger markets of Southern Europe – most notably Italy, which saw sales rise an impressive 18%, while Spain’s 17% growth was also well above average.
France also performed well with an 8% rise in sales, thanks to broad demand for both heavy and compact equipment.
Growth in the UK was more subdued at 4%, but the volume of equipment sold was the highest ever seen.
Meanwhile the German market declined 1%, but this must be seen in the context of the extraordinarily high number of machines which have been sold in the country in the last four to five years.
Off-Highway Research’s forecast for Europe is essentially for the market to stabilise at a high level.
Although single-digit percentage annual declines in sales are expected for the next three years, the market is forecast to remain above 200,000 units over the medium term.
Prior to the current peak, a volume above 200,000 machines sold was only achieved once before for a single year in 2007.
A slowdown in housebuilding due to rising interest rates represents a threat to compact equipment sales.
However, Europe’s infrastructure markets are strong, which should stimulate sales of larger earthmoving equipment.
A full discussion on the state of the European construction equipment market and the outlook to 2027 is available to subscribers to Off-Highway Research’s European Service and European Database Service.
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