Europe Construction & Material Handling Machinery Market Will Reach USD 75 Billion by 2030

The Europe Construction and material handling machinery market is projected to be worth USD 75 billion by 2030, growing at a CAGR of 5.1%, according to P&S Intelligence. This growth can be ascribed to the increasing labor price in the construction industry, growing requirements for offsite and modular structures, rising expenditure in infrastructure, and fast growth of smart metropolises. So, it is projected that the construction equipment sector outlook will advance in Europe in the coming few years.

In recent years, the earthmoving machinery category dominated the market with approximately 45% revenue share. The rising count of infrastructure projects, including dams, railways, bridges, highways, and roads, in emerging nations, are boosting the demand for earthmoving equipment, like excavators and loaders. The industry development rate is projected to rise in the coming few years, because construction of residential amenities will remain buoyant, because of low-interest rates on house loans and grants offered by governments. This will boost the sales of construction and material-handling equipment in the continent.

They can reduce prices by utilizing rental services and have access to contemporary and technologically progressive equipment. It also offers flexibility and requires less capital investment. A main trend in the construction and material handling machinery industry is that OEMs lend out construction equipment or spend in rental businesses. In the past few years, the residential housing industry had more than 40% industry share. The requirement for reasonable housing in Europe is uninterruptedly growing and governing organizations are gradually applying measures to confront the city’s requirements. The requirement for electric construction equipment is rising at an advanced pace in the European construction & material-handling machinery market. For example, the French Ministry of Ecological and Inclusive Transition specified that the construction sector accounts for approximately 44% of the power consumption in France and around 25% of the country’s carbon releases. Hence, the increasing labor price in the construction industry, growing requirements for offsite and modular structures, rising expenditure in infrastructure, and fast growth of smart metropolises are the major factors contributing to the growth of the industry.