Europe Construction Equipment Market Analysis
London, Ontario-based John Aarts Group; Sacramento, California-based Teichert; and Fort Myers, Florida-based Tomahawk Construction have partnered with Teleo to deploy remote-operated wheel loaders, bulldozers and dump trucks, respectively. The Palo Alto, California-based company also has two other unannounced clients, bringing the total number of the company’s first customers to five, Vinay Shet, Teleo’s co-founder and CEO, told Construction Dive. Over the longer term, as CE OEMs deal with the new normal, they will need to develop a comprehensive plan across each element of next normal to address the fundamental changes that are reshaping the industry. We plan to cover topics on each of these trends in detail in future articles in this series. At the same time, they should take note of emerging business models that incorporate new technologies, such as site-charging infrastructure, battery swapping, and battery-as-a-service, since these may reshape the CE value proposition. The global market for CE reached a trough in 2015 and then grew through 2018 before plateauing the next year.
- Teleo’s semi-autonomous platform allows one worker to operate multiple pieces of heavy machinery units across different jobsites via remote control, cutting down on labor and time spent on the project.
- Europe Used Construction Machinery Market was valued at USD 21.87 billion in 2021 and is expected to surpass a net valuation of USD 30.43 billion by 2027 end, registering a CAGR growth of 4.20% over the forecast period.
- The COVID-19 crisis could be a catalyst for such step changes, and for some companies to make a virtue out of necessity as time progresses.
- Digitalization, connectivity, and automation are driving development forward, leaving a substantial impact on construction projects.
- Companies may complement their core capabilities with new ones that increase customer value.
The COVID-19 pandemic compounded the pressure on machinery companies, but it also created important opportunities to restructure the industry and accelerate https://newswail.com/author/admin/ its digital transformation. This article examines the industry’s structural challenges and the variances in performance by region and type of company.
Europe Used Construction Machinery Market Research Faqs
Manufacturers are still flooded with new equipment orders and demand continues to increase. However, production is being impacted by the global computer chip shortage and the rising cost and availability of raw materials, leading to extended delivery lead times.
Europe Industrial Machinery Market Forecast To 2027
The industry is also fragmented, with ten to 20 large OEMs and a long tail of smaller, local, and niche OEMs. Most large CE OEMs typically focus on one or two core geographies and products, since product and brand preferences vary among regions. The new year will also see many operational challenges continuing for construction companies and other heavy machinery users. Shortages of skilled workers, rising costs of construction materials, tighter regulations around sustainability… all of these and more may create hurdles throughout 2022. Structural challenges that are inherent to the industry require machinery companies in Europe to rethink their value proposition. The COVID-19 crisis could be a catalyst for such step changes, and for some companies to make a virtue out of necessity as time progresses. Additional performance-improvement levers are hard to find and will be insufficient to overcome hurdles such as declining differentiation.