CHICAGO, May 2, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Benelux construction equipment market is growing at a CAGR of 3.10% during 2023-2029.
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Benelux Construction Equipment Market Report Scope
|
Report Attributes |
Details |
|
Market Size (2029) |
86,455 Units |
|
Market Size (2023) |
71,995 Units |
|
CAGR (2023-2029) |
3.10 % |
|
Market Size- Revenue (2029) |
USD 5.55 Billion |
|
Historic Year |
2020-2022 |
|
Base Year |
2023 |
|
Forecast Year |
2024-2029 |
The e-commerce industry of Benelux witnessed growth in 2022. The industry grew in 2023 due to changing customer buying patterns post-pandemic. The e-commerce industry’s good performance supports the region’s warehouse & logistics industry growth. Governments are investing in various construction projects in the Benelux region (Belgium, the Netherlands, and Luxembourg). Some major projects include the Oosterweel link, the expansion of the Belgian railway network, and the renovation of buildings in Wallonia, Flanders, and Brussels. Governments are also focusing on mining projects in Belgium and the Netherlands. Benelux countries are primarily investing in the mining of tin, nickel, cobalt, and bauxite in response to the rise in the global demand for electric construction equipment. Investments in construction and mining projects across Benelux countries are expected to drive the demand for earthmoving equipment.
Increased Investment in Public Infrastructure Projects Uplifting the Market Opportunities
- In 2023, significant government investment in residential, road, and railway infrastructure is poised to stimulate demand for excavators in the construction equipment market across the Benelux region. Among the notable projects, The Grace in The Hague will feature two towers, one soaring to 180 meters and the other to 150 meters, slated for completion by 2025, offering 1,400 new residences, office spaces, and a dedicated bicycle storage facility.
- Hutchison Ports and Terminal Investment Limited (TIL) has ambitious plans to construct a new terminal at Rotterdam port, unfolding in phases with operations expected to commence by 2027. Spanning 2.6 kilometers, the terminal will encompass five deep-sea berths, aiming to enhance port capabilities.
- In 2020, Van Oord made pioneering investments in eco-friendly construction equipment, including the Netherlands’ inaugural all-electric 20-tonne Caterpillar excavator. Subsequent investments followed in CAT330 LRE Zline excavators, boasting a robust battery capacity of 422 kilowatt-hours (kWh).
Further contributing to construction activity, the ongoing Crossover project near the A10 Zuid exit and Europa Boulevard is slated for completion by 2024, forecasted to spur demand for backhoe loaders in the Netherlands. This development promises residential and employment opportunities along with commercial amenities.
Benelux Construction Equipment Market Dynamics
Drivers
- Rising focus on green transition
- Incremental infrastructure development
- National fund fuels construction machinery boom
Trends
- Rise in investment in the renewable energy sector
- Rising focus on compact & electric construction equipment
- Rise in waste-to-energy projects
Challenges
- Skilled labor shortage
- Rising construction costs
- High demand for rental construction equipment
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Key Vendors
- Caterpillar
- Hitachi Construction Machinery
- Komatsu
- Liebherr
- Volvo Construction Equipment
- Kobelco
- Kubota
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- SANY
- Xuzhou Construction Machinery Group (XCMG)
- Hyundai Construction Equipment
- Develon
- JCB
Other Prominent Vendors
- Yanmar
- Tadano
- Takeuchi
- Manitou
- Toyota Material Handling
- AUSA
- KATO WORKS CO., LTD.
- Haulotte
- Merlo S.p.A.
- Bobcat
- Terex Corporation
- LiuGong
- CNH Industrial
Distributor Profiles
- mateco
- Cramat
- Boels Rental
- Stokvis Equipment
- Riwald
- LOCHMANN
- Muller TP
- Lentz Equipment
Segmentation by Type
- Earthmoving Equipment
- Excavator
- Backhoe Loaders
- Wheeled Loaders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
- Road Construction Equipment
- Road Rollers
- Asphalt Pavers
- Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
- Other Construction Equipment
- Dumper
- Tipper
- Concrete Mixer
- Concrete Pump Truck
- End Users
- Construction
- Mining
- Manufacturing
- Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
Segmentation by Regions
- Belgium
- Netherlands
- Luxembourg
Key Questions Answered in the Report:
How big is the Benelux construction equipment market?
Who are the key players in the Benelux construction equipment market?
Which are the major distributor companies in the Benelux construction equipment market?
What are the trends in the Benelux construction equipment industry?
What is the growth rate of the Benelux construction equipment market?
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