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In 2021 the global sales of construction machinery and equipment reach 1.196 million units

Mar 22, 2022

According to the latest survey data from Off-Highway Research, global sales of construction machinery and equipment will increase by 10% in 2021, reaching a new record of 1.196 million units (slightly higher than the previous forecast of 1.13 million units). Demand is expected to fall by 5% in 2022.

Chris Sleight, managing director of Off-Highway Research, said: “The combination of low interest rates, infrastructure-stimulating investment and high prices in 2021 will be more favorable for the market. Real estate construction is booming, mining equipment demand is strong, infrastructure construction is booming. Stablize." In 2021, all major markets worldwide, with the exception of China, saw growth. North America saw the strongest growth at 25% year over year, followed by emerging markets (excluding India and China) at 24% and Western Europe at 22%.

Chris Sleight said that since the new crown epidemic, the Chinese market has shown a different rhythm than the rest of the world. Since March 2020, China has quickly taken countermeasures, and the results have been very significant. The sales of equipment in that year (2020) increased by 30% year-on-year, reaching a scale not seen in ten years. The market began to decline in the second quarter of 2021, although the magnitude was somewhat large, but this trend was partially offset by the extremely high sales in the first quarter, so the overall Chinese market fell by 6% in 2021.

Off-Highway Research believes the outlook for 2022 remains positive, with further growth expected in device sales in many countries, with the exception of China. "The global demand for construction machinery and equipment is much higher than the current supply demand, mainly due to factors such as supply chain (transportation bottlenecks) leading to prolonged delivery times. Many manufacturers have indicated that products are in short supply, so we expect global equipment sales to remain in 2022. will remain at a high level," Sleight added. "Although it is too early to talk about the impact of geopolitical and economic factors, there are still risk factors that may lead to the downside of the industry in an increasingly complex global environment."

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