The report discusses the current Italy Construction Equipment Market scenario and market dynamics for the forecast period 2022-2028. It covers a detailed overview of several growth catalysts, restraints, and market trends.
New York, May 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Italy Construction Equipment Market – Strategic Assessment & Forecast 2022-2028″ – https://www.reportlinker.com/p06272734/? utm_source=GNW
The study includes sales volume and value with industry analysis of the Italy construction equipment market.
The Italian construction equipment market is expected to grow at a CAGR of 6.6% during the period 2022-2028
REPORT KEY POINTS
• In 2021, the material handling equipment market was the largest segment of the construction equipment industry in Italy, followed by earthmoving and road construction equipment. Forklift was the largest segment by type. However, excavators and backhoe loaders were the fastest growing equipment in 2021. The demand for excavators and backhoe loaders will increase due to government investments in infrastructure development and growth in renewable energies.
• The industry is expected to generate the highest demand, mainly due to the “Italy Recovery And Resilience” program, which is expected to further dominate the construction equipment market during the forecast period.
• By shifting to intelligent systems driven by IoT and data analytics for service, networking and sustainability, the Italian construction equipment market is moving towards a more innovative industry faster than in others developing countries around the world.
• Italy is one of the largest construction equipment markets in Europe; construction equipment rental companies account for most of the Italian construction equipment market share. Also, rental companies have a higher demand than non-rental companies due to the many SMEs in Italy.
SEGMENTATION OF THE CONSTRUCTION EQUIPMENT MARKET IN ITALY
• By 2028, the CAGR of earthmoving segment is expected to be the fastest growing segment among construction equipment in Italy during the forecast period. However, in 2021 material handling was the largest segment of the Italian construction equipment market. By 2028, the material handling equipment segment in Italy is expected to grow at a CAGR of 6.35%. Italy is facing labor shortages in various industries such as construction and manufacturing after the COVID-19 outbreak. This increases the demand for large capacity luffing tower cranes which speed up the construction process and reduce reliance on manpower.
Market segmentation by earthmoving equipment
• Excavator, backhoe loaders
• Other earthmoving equipment (other loaders, bulldozers, trenchers)
Market segmentation by road construction equipment
• Asphalt pavers
Market segmentation by material handling equipment
• Forklifts and telehandlers
• Aerial platforms (articulated platforms, telescopic platforms and scissor lifts)
Market segmentation by end users
The construction equipment market is consolidated with Caterpillar emerging as the leader, followed by Volvo Construction Equipment Italia SPA, Liebherr Group, Komatsu Group, CNH Industrial and Hitachi Construction Machinery (Europe). These companies hold nearly 70% of the total construction equipment market in Italy.
• Volvo construction equipment
• CNH Industrial
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Other Important Suppliers
• John Dheere
• Merlo SPA
• Abramo Mason SRL
• SPA Carmi
• Comar Commercial SPA
• GB Trucks
• Comi SRL
• Rimat SRL
Read the full report: https://www.reportlinker.com/p06272734/?utm_source=GNW
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