In 2021, the global construction machinery market will increase by 10%, of which European construction machinery sales will increase by 24% and North American construction machinery sales will increase by 23%. The American Association of Equipment Manufacturers (AEM) expects the global construction machinery market to grow by 4.5% in 2022. According to the latest news from AEM, the American Association of Equipment Manufacturers, the global economy will grow by 5.1% in 2021. Although growth is expected to be around 3.9% in 2022, a slowdown in growth appears to be a foregone conclusion and the construction machinery industry will face many challenges in the coming months. Benjamin Duyck, director of market intelligence at AEM, used a "period of economic chaos" to describe the "recession" the U.S. has faced since the outbreak of the pandemic. "This economic disruption has had a huge impact on all of us, and we are still dealing with the aftermath today - labor shortages, supply chain issues and the long-term effects of inflation."
New record
North American construction machinery sales to grow 23% in 2021
According to data, sales of construction machinery and equipment in North America will increase by 23% in 2021, with nearly 295,000 units of equipment sold, the highest record in the United States and Canada.
"Last year, the fiery homebuilding market drove a significant increase in sales of small machinery, especially compact track loaders and mini excavators," said Chris Sleight, managing director of Construction Machinery Consulting UK.
According to Sleight, over the past 20-30 years, the market has experienced a slow but clear transition to smaller machines. “If you go back to the 1990s, only about one-third of the construction machinery on the market was compact equipment, mostly skid-steer loaders, weighing about 5-6t or less. Now, about one-third The second market is all compact equipment. Small excavators have dominated the market since the early 2000s, and over the past 10 years, compact track loaders have replaced many skid steer sales and found new applications and customer segments.”
Concrete machinery is popular
European construction machinery sales to grow by 24% in 2021
According to the latest data from the European Construction Equipment Council (CECE), sales of construction machinery in Europe increased by 24% in 2021, with concrete machinery growing the fastest.
Regarding construction machinery sales in 2021, CECE Chairman Alexandre Marchetta said that from a regional perspective, the United Kingdom and Spain will see strong growth in equipment sales in 2021, reaching 54% and 38.5% respectively; Turkey has the highest growth rate of 76.5%; While Germany also saw growth, it was the only country with a single-digit growth rate (9%).
The construction machinery industry has benefited from the Covid-19 recession and stimulus measures rolled out across Europe, but has also been subject to constraints such as the "worst supply chain disruption in recent history". Alexandre Marchetta, president of the association, believes that "in this context, the 24% increase in sales in the European market in 2021 is a remarkable achievement and a 'grand comeback'."
"As the past two years have shown, the European construction machinery industry is really resilient. Continued growth in demand in our largest market, European recovery plans and a global construction boom are driving our business." Alexandre Marchetta said, we are doing everything we can Maintain a positive direction for the next few years. These include pressing issues such as decarbonisation, digitalisation and the EU regulatory agenda.
2022 global construction machinery is expected to increase by 4.5%
Not only the North American market, but the world is also gradually recovering from the impact of the economic slowdown caused by the new crown pneumonia in 2020, with global construction machinery sales increasing by 10% in 2021.
According to AEM, talent acquisition has become an important and thorny factor, at the same time that more than 95% of construction machinery manufacturers say they are experiencing issues such as supply chain instability. Benjamin Duyck, director of market intelligence at AEM, said: "COVID-19, and the consequent increase in the number of employees leaving the workforce, has resulted in plant shutdowns and product shortages."
In its outlook for the future, AEM believes that construction machinery growth is expected to be 4.5% in 2022. And 83% of AEM members believe that strong demand will drive construction machinery growth of 6-10% over the next 12 months compared to 2021, which is reasonable.
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