Earthmoving machinery: safe market for the first half of 2023
29/05/2023
According to Cece's annual economic report about construction sector's performances and the main segments of the European construction equipment industry, the European construction equipment market in 2022 remained at the same levels as the previous year and recorded only a small decline of 0.6%.
In detail, road equipment saw a minimal increase in sales of 1%, while tower crane sales remained unchanged and concrete equipment sales recorded smaller declines of 1% and 2%, respectively.
Compact machines with -0.5% performed slightly better than the heavy machine segment with -2%.
Although inflation has risen in this sector too, there have been economic repercussions following the war in Ukraine and there have been continuous interruptions in the supply chain, forecasts for the first part of 2023 are positive and most European producers can boast an industry order backlog of more than four months.
For the rest of the year, higher interest rates used to lower inflation in Europe are expected to weigh on the outlook for the construction sector, particularly the residential construction sector.
This is expected to impact used car sales in the residential sector, although growth is expected to return to Europe in the spring as inflation gradually eases its grip on the economy.
