Construction Equipment Industry In Europe
A housing start is counted when construction begins on the footers or foundations of a residential structure. This metric offers a good estimate of construction-machinery use, which is a strong indicator of both replacement and new machine demand. Demand-forecasting tools are becoming increasingly important as markets get disrupted and rapidly evolve. To thrive amidst these changes, CE OEMs must be able to estimate https://plrblog.org/alexei-mordashov/ future demand by using data-driven, analytical models that allow them to make rapid adjustments to production and supply chains. Improved demand-forecasting models drive benefits in multiple areas, including revenue generation, cost control, and capital optimization. While productivity growth in the construction industry is good news, the availability of equipment is expected to continue to be a challenge in 2022.
- In consequence, we modeled various permutations based on different combinations of drivers.
- While productivity growth in the construction industry is good news, the availability of equipment is expected to continue to be a challenge in 2022.
- As the COVID-19 pandemic accelerates transformative trends within the construction-equipment industry, companies must rethink their traditional strategies.
- Similarly, building permits for commercial, residential, and demolition projects are collected for calculating and monitoring geo-code construction emission substrates by adopting various software technologies.
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With the relaxation of restrictions and increased economic activity, however, GDP is recovering faster than expected. A few of the players operating in the market in this region are AB Electrolux, Alfa Laval, GEA Group, and AMADA CO., LTD. In-depth industry statistics and market share insights of the Europe Used Construction Machinery Market sector for 2020, 2021, and 2022. The Europe Used Construction Machinery Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Europe Used Construction Machinery Market report PDF. Europe Used Construction Machinery Market is segmented by machinery type, drive type, and country.
Data Sources
Other digital solutions include health and safety apps, carbon emission calculators, and online platforms for buying and selling used machinery. Business owners, fleet managers, and everyone in between are now more likely than ever to move to smart dashboards and mobile apps to streamline tasks and reduce administrative burden. The labour market in Europe is struggling to recover from the crunch of the pandemic, with employment numbers still below pre-Covid levels. Observers note that hours worked are down 4% and that nearly 2.5 million people are still in job retention schemes, which highlights on-going fears of inflation. Combined with pre-pandemic labour shortage levels dating back to 2019 of 3.6%, companies may continue to feel the effects throughout 2022.
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Although the share of German construction equipment sales increased between 2017 and 2020, the share of France and the UK is on the decline. The government and private sectors across the globe are making large investments in the construction of new residential & commercial buildings and public infrastructure, supporting the growth of the construction industry. According to the Institute of Civil Engineers, the global construction market is expected to reach around USD 8 trillion by the end of 2030, driven by infrastructure development across the U.S., China, and India. Increasing urbanization, particularly in Latin American and Asian countries, is creating a huge demand for residential infrastructure, contributing to the construction equipment market growth. Governments in European countries are making investments in new smart city development projects. The European Union is expected to have over 300 smart cities by 2020, boosting the adoption of advanced construction machines in the process.
