Equipment sales grow +8%
15 April 2008
Construction equipment sales in China, Europe, Japan and the US gre +8% in 2006 to a record 664525 units, according to the latest report from Off-Highway Research. Demand is expected to fall some -1.5% this year, due mainly to a downturn in the US.
China was the most buoyant major equipment market in the world last year, with sales rising +22% in unit terms to 181062 machines. O?-Highway Research expects growth to continue in this year, albeit at a lower rate of +7%. However, the economic forecasting company says this is the only major market that will see growth next year.
Following a +14% increase in sales to 187353 machines in 2006, the European construction equipment market is expected to drop -1% to 185830. Similarly, the Japanese market is forecast for a -3% decline this year, following a rise of +11% in 2006 to 73630 units.
In contrast to these gentle declines, the recession in the US equipment market is expected to deepen this year. Sales fell -5% to 222480 units in 2006 and Off-Highway Research expects a further fall of -8% this year. But at 203650 machines, North America will remain the world's largest equipment market in 2007.
Overall the global market is expected to fall -1.5% this year from its record of 664525 machines sold in 2006 to 654865 units.
For more information visit: www.offhighway.co.uk