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Chicago, June 28, 2022 (GLOBE NEWSWIRE) -- According to Arizton's latest research report, the Portugal construction equipment market is expected to grow at a CAGR of 5.21% during 2022-2028. In Portugal, the mining industry is expected to boom. The mining industry is expected to reach 1,439 units by 2028, growing at a CAGR of 3.22%.
Portugal Data Center Market Report Scope
| Report Attributes | Details |
| MARKET SIZE (2028) | $1.3 Billion |
| MARKET SIZE (2021) | $981.6 Billion |
| CAGR (2022-2028) | 5.21% | |
| MARKET SIZE- VOLUME (2028) | 13,572 units |
| HISTORIC YEAR | 2019-2020 |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 |
| TYPE | Earthmoving Equipment, Road Construction Equipment, and Material Handling Equipment |
| END-USERS | Construction, Manufacturing, Mining, and Others |
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Growth i n Recycle & Waste Management Industries Supports t he Demand for Medium Size Excavators
Excavators are used for handling waste for recycling purpose. With the rise of recycling & waste management activities across the region, the demand for medium size excavator has increased. Hitachi Construction Machinery (HCE) introduced ZX300LCN-6 excavator in Portugal market for recycling work.
The excavators are replacing wheel loaders in Portugal market for recycling & waste management processes. Due to surge in recycling activities major OEMs such as Caterpillar, Kobelco & Volvo Construction equipment have also focused on introducing medium sized light weight excavator in Portugal market.
Key Insights
- The growth in infrastructure investment under national development plan 2030, surge in civil engineering & housing projects in 2021, is expected to support the demand for excavators in Portugal market.
- In 2021, Portugal government invested $45.1 billion for development of public & transport infrastructures. The government has also shifted its focus on renewable energy resources and planned to invest $26.2 billion to upgrade the renewable energy industry in the next 10 years.
- The major infrastructure projects under progress in 2022 are Porto Metro Extension ($333.9 million), Rail Link to Beja & Faro ($246.5 million), Cascais to Cintura ($214.3 million), Southern International Corridors ($160.7 million), Northern Corridor of Beira Alta Line ($59.2million), Algarve Railways Upgrade ($26.7 million) & Porto- Lisbon Railways Line ($4.8 million).
- According to European Commission, Portugal's economy is expected to grow by 5.8% in 2022. European Union granted $14.8 billion in 2021 under Portugal Recovery & Resilience Plan. Fund is majorly allocated for climate objective & digitalization.
- Rising investment in housing & public infrastructure supports the growth of residential buildings and civil engineering sectors which are expected to grow by 5.5% and 7.5% respectively in 2022. In addition to it, Surge in government investment for development of logistics infrastructure, growing E- commerce sector and rising exports have positive impact on Portugal logistics & warehousing market.
- The government is investing in upgrading transport infrastructure and expansion of major ports such as Leixos & Sines in 2022. Portugal exports is expected to grow by 22% in 2022. The growth in logistics & warehouse industry to drive demand for material handling equipment such as forklifts.
- Portugal government aims to increase recycle capacity by 65% by 2035. Government has recycling plants in Lisbon & Porto region of the country. With the rise of recycling & waste management activities across the region, the demand for medium size excavator has increased in 2021. Hitachi Construction Machinery (HCE) introduced medium sized ZX300LCN-6 excavator in Portugal market for recycling work.
- Hitachi Construction Machinery, Caterpillar, Komatsu, & Liebherr are the market leaders accounted for 23.1% of market share in 2021.
Report Coverage:
Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
End Users
- Construction
- Manufacturing
- Mining
- Others
Key Vendors
- Hitachi Construction Machinery
- Liebherr
- Caterpillar
- Komatsu
- Hyundai Construction Equipment
- VOLVO
- JCB
- Kobelco
Other Prominent Vendors
- Terex corporation
- Tadano
- Liu Gong
- CASE Construction Equipment
Distributors Profiles
- Auto Mecanica Alvorgenese
- Ascendum Maquninas
- Almovi
- Pousamil
- Sociedade Tecnica de Equipamentos e Tractores SA
Explore our industrial machinery profile to know more about the industry.
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We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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