Abstract
Global demand to rise 6% annually through 2011
Global demand for construction machinery is forecast to climb six percent per
year to $130 billion in 2011. Product sales will be fueled by healthy economic
growth, ongoing industrialization efforts, rising populations and higher
standards of living in developing parts of the world, leading to substantial
increases in construction spending. Mining production in mineral-rich
developing countries will also expand as global economic conditions continue
to improve, supporting overall construction equipment market gains.
China, India, Mexico, Russia see largest sales increases
China, India, Mexico and Russia will register some of the largest sales
increases, with China alone accounting for 31 percent of all additional
construction machinery demand through 2011. Growth is also expected to be
strong in lowervolume markets such as Iran, Malaysia, Indonesia, Ukraine,
Turkey, Poland and South Africa. Although advances will be less robust than in
developing nations, construction equipment sales in developed countries will
rise as well. Product demand will be stimulated by generally favorable
economic climates and further increases in construction activity in these
areas. More stringent off-road diesel engine emission standards will also make
new machinery more expensive and contribute to value gains through 2011.
However, new housing starts are expected to decline in the US and Japan,
dampening increases in construction equipment demand in these nations.
Study coverage
It presents historical demand data for the years 1996, 2001 and 2006 plus
forecasts for 2011 and 2016 by product, world region and for 34 countries. The
study also considers market environment factors, evaluates company market
shares and profiles 35 construction equipment manufacturers worldwide,
including Caterpillar, the CNH Global subsidiary of Fiat, Deere, Hitachi and
Komatsu.
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