World construction equipment sales set for +8.5% growth
By Chris Sleight24 March 2010
Global construction equipment sales are expected to increase +8.5% this year, according to the latest report by Off-Highway Research. The main impetus for this will come from China, where the market is forecast to rise +13%.
Total world equipment sales this year are expected to hit 517284 units, and more than half of these - 280720 machines - will be sold in China. However, the highest percentage growth is expected in India, where sales are expected to rise +34% from last year's figure of 28870 machines to a volume of 39865 units this year.
Western Europe and North America are expected to see more moderate growth from the painfully low levels hit last year. In Western Europe for example, sales are expected to 92524 units, a +7% increase on 2009's figure of 86047 machines. However, given that the market peaked at more than 210000 units in 2007, such low volumes are still far from healthy.
Similarly, the North American construction equipment market is expected to rise +3% this year to 78475 units. But again, this is a very low level compared to the peak of more than 230000 machines sold in 2005, and still only about half the number of machines sold as recently as 2008.
The only market expected to go on shrinking this year is Japan, with sales expected to slip another -19% to 23690 machines.
For more information, visit www.offhighway.co.uk