Global sales of earth moving machinery in 2018 accelerated sharply – up 23% on 2017 to top out at 1 million units.
The record result in 2018 was driven by a combination of several factors. One of these factors is investments in construction on a global scale in excess of €7,150 billion, as highlighted by data analysed by Prometeia for
In most parts of the world, the market posted two-figure growth, attaining new peaks in the US (+36%), India (+48%), China (+35%) and the rest of the world (+20%). North America and China were the driving forces behind almost two-thirds of overall growth. They had a combined market share of 50%, followed by Western Europe (18% of market share) and India (7% of the world market).
Western Europe, however, had a growth rate of just 3% and 182,000 machines sold – an expected slowdown. The market leader for sales is Germany (23%), closely followed by the UK (22%).
Italy ranks fourth, with a market share of 9%.
On the other hand, Spain performed well in 2018 (+48% on the previous year), as well as Italy (+16%) and the UK (+9%). More modest growth, however, saw seen for France (4%), Belgium (2%) and the Netherlands (1%).
There was a somewhat surprising setback of -8% in Germany, partly because of a shift on the market towards larger machines. On closer analysis, Germany’s market share in Western European decreased by 3% compared to 2017.
In Central & Eastern Europe, the market giants are Russia (42% of the global market) and Poland (18%of global sales). These two countries were the driving force in 2018 for increased sales, with particularly significant growth rates: +59% for Poland and +32% for Russia. The third player in this region is Turkey (16% market share), having been overtaken by Poland in just two years, posting a downturn in 2018 of 32%.
Earth moving machinery market in 2018 was characterised by sustained and widespread growth for all types of plant: track-laying excavators (+25%), mini-excavators (+15%), wheel loaders (+19%) and compact mini loaders (+41%).
A significant trend is especially emerging on mature markets highlighting a shift towards light equipment, according to data processed by Prometeia. In China, demand for mini-excavators in 2018 was almost 20% of total equipment demand, up from 10% in 2010.