A new report from Off-Highway Research says construction equipment sales in five major regions of the world will fall a total of -15% this year. The decline comes on top of the -11% total fall in equipment sales seen across China, Europe, India, Japan and North America last year.
According to the forecasting company's new Annual Review, construction equipment sales in these five regions last year totalled 635831 units, a -11% fall on the record volume of 713863 machines sold in 2007.
Off-Highway Research expects further falls in Europe, India, Japan and North America this year, with the Chinese market staying flat. This is expected to see the market fall to 537866 machines, down -15% year-on-year, and almost -25% lower than the peak in 2007.
The biggest impact is expected in North America, with a -28% drop in sales to 106925 units. The Western European market is forecast for a -26% fall to 160952 machines, while equipment sales in Japan are seen declining -20% to 45647 units.
In the major developing countries, China is expected to hold onto the huge gains of recent years, with equipment sales up +1% on 2008 to 240820 units. In India meanwhile, a -22% drop in is expected to take the market down to 25200 units this year.
For more information, visit www.offhighway.co.uk