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Italian construction equipment market is expected to grow at a CAGR of 6.6% during 2022-2028
The report considers the present scenario of the Italy construction equipment market and market dynamics for the forecast period 2022?2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market.
New York, May 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Italy Construction Equipment Market - Strategic Assessment & Forecast 2022-2028" - https://www.reportlinker.com/p06272734/?utm_source=GNW
The study includes the volume and value sales with a segment analysis of the Italy construction equipment market.
Italian construction equipment market is expected to grow at a CAGR of 6.6% during 2022-2028
KEY HIGHLIGHTS IN THE REPORT
• In 2021, the material handling equipment market was the largest segment in the construction equipment industry in Italy, followed by earthmoving and road construction equipment. The 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 rise due to government investment in infrastructure development and growth in renewable energy.
• The industry is expected to generate the highest demand primarily due to the "Italy Recovery And Resilience" program, which is anticipated to further dominate the construction equipment market over the forecast period.
• By switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the construction equipment market in Italy is transitioning to a more innovative industry faster than in other developing nations across the world.
• Italy is one of the largest construction equipment markets in Europe; construction equipment rental companies account for the major portion of the Italian construction equipment market share. Also, rental companies are having higher demand than non-rental companies due to the many SMEs in Italy.
ITALY CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
• By 2028, the CAGR of earthmoving segment is expected to be the fastest growing segment among the construction equipment in Italy over the forecast period. However, in 2021, material handling was the largest segment in Italy construction equipment market. By 2028, the material handling equipment segment in Italy is estimated to grow at a CAGR of 6.35%. Italy is facing a labor shortage in various industries such as construction and manufacturing post COVID-19 outbreak. This increases the demand for high-capacity luffing tower cranes that speed up the construction process and reduce labor dependency.
Market Segmentation by Earthmoving Equipment
• Excavator, Backhoe Loaders
• Motor Graders
• Other Earthmoving Equipment (Other’s loaders, Bulldozers, Trenchers)
Market Segmentation by Road Construction Equipment
• Road Rollers
• Asphalt Pavers
Market Segmentation by Material Handling Equipment
• Crane
• Forklift & Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, and Scissor lift)
Market Segmentation by End Users
• Construction
• Manufacturing
• Mining
• Others
VENDOR LANDSCAPE
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 have nearly 70% share of the total Italy construction equipment market.
Key Vendors
• Caterpillar
• Volvo Construction Equipment
• Liebherr
• Komatsu
• CNH Industrial
• Hitachi
• JCB
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
• Kubota
• SANY
Other Prominent Vendors
• John Dheere
• Merlo SPA
• Yanmar
• Manitou
• Kobelco
Distributors Profile
• Abramo Mason SRL
• Carmi SPA
• Comar Commerciale SPA
• GB Trucks
• Comi SRL
• Rimat SRL
Read the full report: https://www.reportlinker.com/p06272734/?utm_source=GNW
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