Construction Equipment Market Share

APAC Market Forecast

Construction equipment market in Asia Pacific is anticipated to hold a share of 35% during the projected period. The emergence of internet retail outlets, the availability of machinery on a rental basis, government investment in infrastructure development, and increased capital expenditure are all likely to have contributed to economic growth in this region. At the same time, China's government has invested in local infrastructure and renewable energy as well as housing projects that are also generating an increase in demand for construction equipment. According to an estimation, China developed about 6.5 million new residential homes in 2021, a rise over prior years. Therefore, all these factors are expected to drive the growth of the market in the region rapidly.

European Market Statistics

European construction equipment market is poised to hold a share of 26% by the end of 2037. The market is expanding in the region due to the increasing demand for new housing units and improving employment levels. Also, the region is known to be the home of the best-performing machine and equipment sector, this factor is likely to drive the growth of the market in the region. The favorable market for the manufacture and supply of building equipment is created by investments in infrastructure projects. Furthermore, urbanization is taking place in Europe rapidly and there are increasing numbers of people moving to cities. A wide range of construction equipment is needed for projects in cities, such as housing or business buildings.