Good Times For CE Sales
By Mike Brezonick20 April 2018
Global construction equipment sales rose 27% in 2017 to 894,000 units, according to new data from specialist forecasting company Off-Highway Research. This was the highest the market has been since 2012 and was a marked turnaround from 2015 and 2016 when worldwide equipment sales bottomed-out at 702,000 units.
The market was worth US$88 billion last year, a 25% increase on 2016’s figure of US$ 70.6 billion.
“Most countries around the world saw an increase in construction equipment sales last year, with the most robust growth being in developing Asia,” said Chris Sleight, managing director of Off-Highway Research. “There was a sharp turnaround in China and the Indian market continued to go from strength to strength.
“Growth elsewhere in the world was more restrained, but this was still welcome after what were difficult years in 2015 and 2016. Over the coming years, Off-Highway Research expects moderate but sustained growth in construction equipment demand around the globe, taking sales to more than 1,000,000 units by 2022.”
Off-Highway Research, which is exhibiting at Intermat (Hall 6, Stand EF024), is using the event to launch new market intelligence products. Among these is the Global Volume & Value Service PLUS, which builds on the company’s existing Global Volume & Value Service that provides worldwide equipment sales broken down by country and equipment type in unit (Volume) and US Dollar (Value) terms. The new PLUS Service provides greater detail, with sales by up to six weight/size classes per product type, again in unit and Dollar terms. This provides 524 data points per year, compared to 224 in the standard Service.
In addition, both the PLUS and standard Volume & Value Services have been integrated into Off-Highway Research’s online database system for ease of use alongside its other data products, the International, Chinese and Indian Database Services. All Off-Highway Research database products include historic figures and five-year forecasts, and the database is now available in seven languages.