Construction equipment

Sales of construction equipment in Belgium expected to reach over 40,000 units by 2028 – Arizton

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The Belgian construction equipment market is expected to reach over $2.7 billion by 2028.

Chicago, Aug. 03, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the Belgian construction equipment market will grow at a CAGR of over 4% during the period 2022-2027. Increased public investment in infrastructure investment and renewable energy projects is expected to boost demand for construction equipment in the Belgian market. In Belgium, the construction and manufacturing industries account for ~6.6% and ~3% of GDP respectively in 2021. Market growth is driven by the construction of public infrastructure, including roads, trains and civil works, as well as increasing investment in residential projects. One of the residential projects launched in 2021, the Oude Dokken housing complex in PPP, has a positive effect on the need for excavators.

Scope of the Belgium Construction Equipment Market Report

Report attributes

Details

MARKET SIZE (2028)

$2.74 billion

MARKET SIZE (2021)

$2.05 billion

CAGR (2022-2028)

4.30%

MARKET SIZE – VOLUME (2028)

40,268 units

HISTORICAL YEAR

2019-2020

YEAR OF REFERENCE

2021

FORECAST YEAR

2022-2028

TYPE

Earthmoving equipment, road construction equipment and material handling equipment

END USERS

Construction, manufacturing, mining and others

KEY SUPPLIERS

Caterpillar, Komatsu, VOLVO, JCB, SANY, Hyundai, KOBELCO, Zoomlion, Hitachi, Kubota, Liebherr Group

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Key Strong points

  • In 2021, the government allocated a fund of $1,083.3 million from the national recovery and resilience plan for the renovation of buildings in Wallonia, Flanders and the Brussels region of the country. In addition, the Belgian railways expected to receive an additional fund of $267.6 million over the next three years. Most of this fund is allocated to the expansion of rail freight and the modernization of transport infrastructure. In addition, investments in public sector infrastructure, digitalization and a circular and green economy, supported by European Union funding, are expected to drive construction sector growth in 2022.

  • The Belgian government has also invested $299.7 million in affordable housing under the Regional Housing Plan and Alliance for Habitat, to drive the sustainable renovation of the existing housing stock, as well as the construction of 6,400 new homes in 2021.

  • In March 2022, the federal cabinet allocated $1.3 billion for the development of renewable energy resources. The government aims to increase 6.5 GW of wind power and 4.9 GW of solar power by 2030. Rising solar and wind power projects across the country are expected to boost demand for mini excavators and cranes.

Recent innovations and development

  • Caterpillar, Volvo construction equipment, Komatsu and Kubota are the market leaders and accounted for 85% market share in 2021 Recent innovations and developments in the market

  • Other OEMs in the country, such as Kobelco, Komatsu, Caterpillars, Hitachi and Hyundai, are focusing on continuously improving after-sales services, which rely on digital technology.

  • In 2022, Hitachi launches the digital application of the equipment performance monitoring and technical support system.

  • In 2021, Hitachi is also launching the spare parts e-commerce platform to improve customer experience.

The report provides a detailed analysis by segments
Type

Segmentation by end users

  • Construction

  • Manufacturing

  • Mining

  • Others

Main suppliers

  • caterpillar

  • Komatsu

  • VOLVO

  • JCB

  • SANY

  • hyundai

  • KOBELCO

  • zoom lion

  • Hitachi

  • Kubota

  • Liebherr Group

Other Important Suppliers

Distributor Profiles

  • Van Haut

  • Torfs compact machines

  • FM BOUWMACHINES

  • HST

  • ACQUISITION BELGIUM

  • Vangaever

TARGET AUDIENCE:

  • Senior management staff from existing operators/suppliers

  • Potential new market entrants

  • Consultants/consultants/advisory firms

  • Professional landscaping service providers/contractors

  • Corporate and government organizations

Explore our industrial machinery profile to learn more about the industry.

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About Arizona:

Arizton Advisory and Intelligence is an innovation and quality-driven company that provides industry-leading research solutions to clients around the world. We excel in providing comprehensive market intelligence reports and advisory and consultancy services.

We offer comprehensive market research reports on industries such as consumer goods and retail technology, automotive and mobility, smart technologies, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers and trend forecasts.

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Call: +1-312-235-2040
+1 302 469 0707

CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040  +1 302 469 0707  


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