The latest report from Off-Highway Research showed that the global construction machinery market increased by 27% in 2017, with sales up to 894000 units (sales of $88 billion, up 25%), the highest level since 2012.
"Last year, the sales volume of construction machinery in most countries increased to varying degrees, and the strongest region was developing countries in Asia." Chris Sleight, managing director of British construction machinery Consulting Co. Ltd., said: "China's market has rebounded sharply, and the India market has continued to strengthen," he stressed.
The report shows that in 2017, the sales of tracked excavators in the Chinese market increased more than 1 times in 2017. In 2017, the sales of India construction machinery increased by 10%, the demand for the European market was increasing, and the US market was also recovered from the slowdown of the 2016 presidential election uncertainty, accompanied by economic growth and the replacement of new and old equipment. Sales have rebounded (173188).
Global engineering machinery market forecast in -2022 2017
According to the British engineering machinery Consulting Co., Ltd., the global construction machinery market sales increased by about 6% in 2018. In the next few years, the global market will remain moderate and sustained growth in 2022, and the sales will probably exceed 1 million units by the year.
In view of the Trump administration's trillions of dollars in infrastructure projects, the British engineering machinery Consulting Co., Ltd. also foresees a significant increase in North America in the next four years. In 2022, North American construction machinery sales or 267350 units are expected to grow by 54%.
