In Terms of Growth, the Global Earthmoving Equipment Market Recorded a Review-period (2008-2012) Compound Annual Growth Rate (cagr) of 1.67%, According to a New Study on ASDReports

Friday 29 August 2014, Amsterdam

The growth was subdued by a 34.1% decline in the market in 2009, due to the financial crisis. Construction activity slowed, and demand for earthmoving equipment declined in 2009, the worst year in the economic crisis. The global earthmoving equipment market is expected to record a forecast-period CAGR of 5.59% due to construction industry growth, infrastructure and residential development in emerging economies, and the easing of the financial crisis in Europe.

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Report Highlights:
The Asia-Pacific region was the largest regional market, accounting for 50.7% of the global market. It was followed by Europe and North America with respective shares of 23.5% and 14.8%.China constituted the largest share of the Asia-Pacific market with a 38.2% share in 2012, followed by Japan, Australia, Indonesia and South Korea with 29.8%, 13.9%, 6.6% and 5.8% respectively. Russia accounted for the largest share with just over 22%, followed by Germany, France, Italy, Sweden and Turkey with 13.5%, 11.0%, 9.8%, 7.5% and 6.5% respectively. The 2009 financial crisis and subsequent European debt crisis were detrimental to the European construction industry, and caused the earthmoving equipment market to record a review-period CAGR of just fewer than            -6%.US was the largest market with a 74.1% share, while Canada accounted for the remainder. Demand for earthmoving equipment declined as a result of the housing crisis and recession, causing the market to record a review-period CAGR of just over -4.24%.Brazil accounted for the largest share with 64.4%, followed by Mexico, Colombia and Argentina with 17.5%, 11.8% and 6.4% respectively. The market registered a review-period CAGR of 4.56% and is expected to grow at a forecast-period CAGR of 5.01%. Brazil is expected to be a key source of demand for earthmoving equipment in Latin America over the forecast period, as the country is hosting the 2016 Olympic Games. Saudi Arabia was the largest market in the region, accounting for a 47.3% share, followed by the UAE, Qatar and Bahrain with 43.3%, 7.0% and 2.5% respectively. The market recorded a review-period CAGR of -4.43% and is expected to register a forecast-period CAGR of 4.96%.