In 2018, the global sales of construction machinery and equipment reached a record high. What was the momentum in 2019?
According to data provided by Off-Highway Research, global non-road construction machinery and equipment sales reached a record high of 1.1 million units in 2018, with retail sales of approximately $110 billion. This figure exceeds the highs of 2011 and 2007, which are also the peak of China’s stimulating consumption boom.
Continuing the trend in 2017, global non-road construction machinery and equipment sales generally improved last year, and equipment sales in North America, Europe and Asia increased.
In China, sales of non-road construction machinery, including mobile cranes, increased by 37% in 2018. After 81% growth in 2017, the market share now stands at 3,438,17 units. This is China’s highest demand for equipment since 2012, and China has once again become the world’s largest market.
In 2018, the global sales of construction machinery and equipment chart
2018 is also an extraordinary year for the Indian construction machinery market. Sales of non-road construction machinery including mobile cranes increased by 35% and achieved strong growth for three consecutive years. This has set a record high of 98,204 units, about 44% higher than the previous high in 2011, more than double the demand for the cyclical downturn in 2014 and 2015 three years ago.
At the same time, sales in Western Europe reached its highest level in a decade in 2018, an increase of 10% to 177,694 units. Among the 15 largest markets in the region, demand has increased in 14 markets, with sales in Germany and the UK particularly strong. The only strong one in the German market dates back to the early 1990s, when the construction boom reached its peak.
Equipment sales in North America also improved last year, up 13% to around 195,500 units.
Last year, the only market in the world’s largest market was the Japanese market, with sales falling 5% to 63,700 units.
Although 2018 may represent the peak of the current cycle, Off-Highway Research predicts that global demand will only decline moderately this year, and sales are expected to remain above 1 million units.
However, the future cannot be expected, and this bright prospect may also be affected by unexpected political and economic events. Not surprisingly, the whole will still be at a good level.
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