Sale Of Belgium Construction Equipment Is Expected To Reach ...| MENAFN.COM

Wednesday, 17 August 2022 01:23 GMT

Sale Of Belgium Construction Equipment Is Expected To Reach Over 40K Units By 2028 Arizton


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Chicago, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to Arizton's latest research report, Belgium construction equipment market will grow at a CAGR of over 4% during 2022-2027. Rising government investment in infrastructure investment & renewable energy projects is expected to drive the demand for construction equipment in Belgium market. In Belgium, construction, and manufacturing industries account for ~6.6% and ~3%, respectively, of the GDP in 2021. The growth of the market is being driven by the construction of public infrastructure, including roads, trains, and civil works, as well as rising investments in residential projects. One of the residential projects launched in 2021, the Oude Dokken housing complex PPP, has a positive effect on the need for excavators.

Belgium Construction Equipment Market Report Scope

Report Attributes Details
MARKET SIZE (2028) $2.74 Billion
MARKET SIZE (2021) $2.05 Billion
CAGR (2022-2028) 4.30%
MARKET SIZE- VOLUME (2028) 40,268 units
HISTORIC YEAR 2019-2020
BASE YEAR 2021
FORECAST YEAR 2022-2028
TYPE Earthmoving Equipment, Road Construction Equipment, and Material Handling Equipment
END-USERS Construction, Manufacturing, Mining, and Others
KEY VENDORS Caterpillar, Komatsu, VOLVO, JCB, SANY, Hyundai, KOBELCO, Zoomlion, Hitachi, Kubota, Liebherr Group

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Key Highlights

  • In 2021, the government allocated $1,083.3 million fund from nation recovery & resilience plan towards the renovation of buildings in Wallonia, Flanders, & Brussels region of the country. Additionally, Belgian railways planned to receive additional $267.6 million fund over the next three years. Major part of this fund is allocated for expanding rail freight & upgrading transportation infrastructure. Furthermore, investment in public sector infrastructure, digitalization, and a circular and green economy, backed by European Union financing, is projected to drive the construction industry's growth in 2022.
  • Belgium government also invested $299.7 million on affordable housing as part of the Regional Housing Plan and the Habitat Alliance, to lead the sustainable renovation of existing housing stock, as well as the building of 6,400 new housing units in 2021.
  • In March 2022, federal cabinet allocated $1.3 billion for development of renewable energy resources. The government aims to increase 6.5GW of wind power and 4.9GW of solar power by 2030. Increasing solar, wind energy projects across the country is expected to drive demand for mini excavators & cranes.

Recent Innovations and Development

  • Caterpillar, Volvo construction equipment, Komatsu, & Kubota are the market leaders accounted for 85% of market share in 2021Recent Innovations & Development in the Market
  • Other OEMs in the country such as Kobelco, Komatsu, Caterpillars, Hitachi, and Hyundai construction machinery focus on continuous improvement in aftersales services, which are supported by digital technology.
  • In 2022, Hitachi launches the digital application of equipment performance monitoring and technical support system.
  • In 2021, Hitachi also launches the spare parts e- commerce platform for enhancing the customer experience.

The report provides a detailed analysis by Segmentation
Type

  • 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)

Segmentation by End Users

  • Construction
  • Manufacturing
  • Mining
  • Others

Key Vendors

  • Caterpillar
  • Komatsu
  • VOLVO
  • JCB
  • SANY
  • Hyundai
  • KOBELCO
  • Zoomlion
  • Hitachi
  • Kubota
  • Liebherr Group

Other Prominent Vendors

  • Terex corporation
  • LIUGONG
  • Yanmar
  • CASE Construction Equipment

Distributors Profiles

  • Van Haut
  • Torfs Compact Machinery
  • FM BOUWMACHINES
  • HST
  • ACQUISITIE BELGIE
  • Vangaever

TARGET AUDIENCE:

  • Top-level management personnel of existing operators/vendors
  • Potential new entrants to the market
  • Consultants/consultancies/advisory firms
  • Professional landscaping service providers/contractors
  • Corporate and governments bodies

Explore our industrial machinery profile to know more about the industry.

Click Here to Download the Free Sample Report

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About Arizton :

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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