European Construction Equipment Markets: A Review of 2016 and a Forecast to 2021
Off-Highway Research's Annual Reviews are summaries of construction sold by product type and by country looking at the last five year's sales data and looking forward for the next five years.
Typical coverage includes: Country Analyses (fifteen European countries), Equipment Analyses (fifteen product types), Production Analyses and International Prespectives.
The European construction equipment market enjoyed a fourth consecutive year of growth in 2016, with sales rising 10 per cent to almost 141,000 units. This was the highest level the market has achieved since the global financial crisis of the late 2000s.
Most countries in Europe saw an increase in equipment sales last year, the exceptions being Ireland, the Netherlands and the UK. Of these declines, the 6 per cent fall in the UK was most significant in terms of pulling down the overall result for Europe.
On the positive side, strong growth in the three other major markets of France, Germany and Italy more than offset these losses. There was also support from several smaller European markets, most notably Finland, Spain and Sweden, which enjoyed double-digit sales growth. The resurgence in Germany saw it overtake the UK once again as Europe’s largest equipment market - a position it should generally hold, given its larger population and land area.
Despite the improvement in Spain, this market still remains very weak compared to the volumes which were seen in the pre-crisis years. The same could certainly be said of Portugal, and to a lesser extent, Italy, underlining the continued economic weakness in Southern Europe.