Construction Equipment Market in Europe 2018-2022 | Use of Telematics Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 28, 2018--Technavio’s research report on the construction equipment market in Europe forecasts the market to grow at a CAGR of almost 7% during the forecast period.
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Technavio’s research report on the construction equipment market in Europe forecasts the market to grow at a CAGR of almost 7% by 2022. (Graphic: Business Wire)
The use of telematics will be one of the major trends in the during 2018-2022. Telematics is being used for fleet management in the construction equipment market in Europe. Telematics uses GPS technology, internet or cellular network, and sensors to perform diagnosis of construction equipment. It assists equipment management personnel to capture several data points including fuel efficiency, idle time or utilization rate, and maintenance alerts.
According to Technavio analysts, one of the key drivers for the construction equipment market in Europe is the growth in consumer spending and e-commerce leading to investment in commercial and industrial sectors:
Construction equipment market in Europe: Growth in consumer spending and e-commerce leading to investment in commercial and industrial sectors
The GDP of Europe has been growing consistently since 2014 and an increase in consumer spending is being witnessed since 2013. Between 2012 and 2017, the exports of goods and services from the EU has increased at a CAGR of 4.12%. The growth in consumer spending and exports of goods and services in Europe has increased capacity utilization and profitability of all major corporates in Europe, thereby increasing investments in commercial and industrial construction by public and private sectors in Europe.
According to a senior research analyst at Technavio, “There is an increase in investments in logistics and supply chain networks by corporates due to the growth in consumer spending and increase in employment rate and wages and e-commerce. This involves investments in manufacturing facilities, warehouses, and distribution centers. The investments in construction of buildings that provide public services are also increasing. This will drive the construction equipment market in Europe.”
Construction equipment market in Europe: Segmentation analysis
This research report on the construction equipment market in Europe provides market segmentation by product (earthmovers, road equipment, concrete equipment, and cranes) and by region (Germany, UK, France, and others). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major products, the earthmovers segment held the largest construction equipment market share in 2017, contributing to around 54% of the market. This product segment will dominate the global market throughout the forecast period.
Germany held the largest share of the market in 2017, accounting for about 23% share. It was followed by the UK and France respectively. Germany is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: BUILDING SYSTEMS MANUFACTURING ENGINEERING CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
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PUB: 12/28/2018 06:15 AM/DISC: 12/28/2018 06:15 AM