DUBLIN, Nov. 3, 2023 /PRNewswire/ — The “Germany Compact Construction Equipment Market – Strategic Assessment & Forecast 2023-2029” report has been added to ResearchAndMarkets.com’s offering.
The Germany compact construction equipment market is gearing up for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4.60% between 2022 and 2028. Several key factors are expected to drive this growth, including increased investment in public infrastructure projects, a focus on sustainability and smart cities development, and the adoption of innovative technology attachments.
Key Market Insights
The Germany compact construction equipment market is poised for significant expansion, driven by the following key highlights:
Investment in Public Infrastructure: The German government’s commitment to house renovation projects and the construction of new apartments is set to boost demand for compact construction equipment. Furthermore, subsidies for energy-efficient building renovations are contributing to the growth.
Resurgence in Coal-Fired Power Plants: In 2022, the government planned to restart operations in coal-fired power plants, generating a substantial amount of power. This development requires efficient construction equipment for maintenance and expansion.
Infrastructure Push: Germany’s plans to spend USD 220 billion by 2026 on industrial transformation, climate protection, hydrogen technology, and electric vehicle charging station expansion are expected to drive growth in the construction equipment sector.
Green Building Initiatives: The German government’s emphasis on “green building” aligns with ESG (Environmental, Social, Governance) norms and is boosting the demand for sustainable construction practices and equipment.
Renovation & Repair Projects: Germany’s focus on rehabilitating roads, bridges, and cycle paths, along with investments in federal highways, is driving demand for construction equipment.
Compact Excavators in Demand: Compact excavators are witnessing high demand due to growth in underground mining, construction, and smart city projects.
Adoption of Building Information Modeling (BIM): Integration of BIM technology is enhancing remote monitoring and digitization, increasing the efficiency of construction processes.
Vendor Landscape
Several leading and prominent vendors operate in the Germany compact construction equipment market, including:
Key Vendors:
Caterpillar
Volvo CE
Komatsu
Liebherr
Hitachi Construction Equipment
JCB
Other Prominent Vendors:
Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
SANY
Zoomlion Heavy Industry Science & Technology Co. Ltd
Hyundai Construction Equipment
Kobelco
LiuGong
CNH Industrial
Terex Corporation
Manitou
Hyundai Doosan Infracore
Takeuchi
Yanmar
Distributor Profiles:
Thomas Baumaschinen
KUHN- BAUMASCHINEN.DE
Schluter Baumaschinen GmbH
Swecon
Tecklenborg
GS Arbeitsbuhnen GmbH
KEY QUESTIONS ANSWERED:
1. How big is the Germany compact construction equipment market?
2. What is the growth rate of the Germany compact construction equipment market?
3. Who are the key players in the Germany compact construction equipment market?
4. What are the trends in the Germany compact construction equipment market?
5. Which are the major distributor companies in the German compact construction equipment market?
For more information about this report visit https://www.researchandmarkets.com/r/z4s2dj
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SOURCE Research and Markets