Off-Highway Research reports that global construction equipment sales rose 28 percent last year, the highest the market has been since 2012. North American sales rose 11 percent, and it expects another 6 percent increase this year.
The report, part of Off-Highway Research’s Global Volume & Value Service, said China saw a huge rebound in equipment sales with an increase of 81 percent last year. A total of 251,369 pieces of construction equipment were sold in China in 2017, compared to 138,582 in the previous year. There was particularly strong growth in the mobile crane and crawler excavator markets last year, and the increasingly important mini excavator segment also grew well.
India's construction equipment sales grew 17 percent last year and expects to exceed 100,000 units by 2022. India’s construction equipment market will continue to be driven by construction, mining and other infrastructure investments. Backhoe loaders, crawler excavators, mobile cranes, mobile compressors, compaction equipment and wheeled loaders accounted for 93-95 per cent of total construction equipment market between 2013 and 2017.
Construction equipment sales in Western Europe rose 13 percent last year to 160,562 units, the strongest showing in a decade according to Off-Highway Research managing director Chris Sleight. “At 160,000 units, the European market is the strongest it has been for a decade. This buoyancy is expected to persist in 2018 and 2019, before volumes tail off to around 150,000 unit sales in 2022. This will be a welcome relief after the difficult post-crisis years, but if volumes rise further there is a risk of the market overheating.”
Of the Europe group, Germany's equipment sales last year were at the highest since the early 1990's. Sweden and Norway saw demand exceed previous highs in the mid-2000's, and France was up 18 percent.
Source: Off-Highway Research