Global construction equipment market to expand throughout decade

The global construction equipment market is expected to grow at an annual rate of 6 percent each year through 2017, according to data the Association of Leaders in Equipment Distribution (AED) recently shared. The market currently sits at $143.6 billion but is expected to reach $192.3 billion in four years.

AED sourced a report titled “Construction Equipment Market – Global and China Forecast, Market Share, Size, Growth and Industry Analysis, 2011 – 2017.”

The earth-moving equipment segment contributed about 43 percent to the total construction equipment market’s revenue in 2012. China accounted for the majority of construction equipment consumption, with Europe at a distant second.

According to AED, Asia is considered the most promising market for construction equipment worldwide due to relatively good performance of construction and mining in countries like India and China.

China is the major contributor to the market and accounts for about 41 percent of the overall global sales of construction equipment. The construction equipment market in China in 2012 was about $59.2 billion. That figure is expected to rise about 10 percent each year to approach the $100 billion mark in 2017.