Global construction machinery market to grow 6.5% annually to 2015
7 September 2011
According to the report “World Construction Machinery”, the world market for construction machinery is to grow 6.5% per year to $171 billion in 2015, matching the 2005-2010 rate of expansion.
Following a period of major losses (2008-2010), equipment sales are likely to bounce back in North America , Western Europe and Eastern Europe . At the same time, growth in the Africa/Mideast, Asia/ Pacific, and Central and South American markets is expected to decelerate through 2015, as both mining and construction activity expand at a more reserved pace.
Consumption of cranes, loaders and excavators will expand at an above average pace through 2015. Many end users were not able to secure financing for their purchases between 2008 and 2010 because of the global financial crisis, so demand for heavy equipment declined sharply. Sales of these products are expected to rebound through 2015. The report is available through the ReportBuyer website.