Worldwide construction equipment sales are expected to increase 12 per cent this year, following on from the 27 per cent rise seen in 2017. This will take total sales to almost 1 million units in 2018.
Off-Highway Research has completed the mid-year updates of its Chinese, Indian and International Database Services, and Global Volume & Value/Global Volume & Value PLUS Services.
Updated forecast points to 3 per cent growth in 2018 following last year’s dramatic surge in demand.
After a remarkable 81 per cent surge last year, sales of construction equipment in China are set to grow another 30 per cent in 2018.
The Indian construction equipment market is set to enjoy a third year in a row of robust growth in 2018, to take sales to an all-time high.
Demand for mini excavators in Germany has been its highest ever for the last two years, exceeding both the pre-crisis highs of the mid-2000s and the reunification boom of the early 1990s.
FIEC, the European Construction Industry Federation, has said the region’s construction activity is “going better and better” after a lost decade following the global economic crisis.
Sales of backhoe loaders in India hit their highest for five years in 2017 and an unprecedented 38,000 units are expected to be sold this year.
Despite a surge in sales last year, demand for agricultural tractors is unlikely to improve until 2019
Annual demand for diesel engines in non-road applications is expected to rise from 3.6 million units per year in 2018 to 3.9 million by 2024. By that point, 97 per cent of engines produced are expected to meet Tier 3 or higher emissions standards.