The UK market is characterized by innovation, quality, highly favorable market conditions and strong government support for businesses. Market growth is expected to be boosted by a number of construction and infrastructure projects such as the London 2012 Olympic Games.
London – July 20, 2011 – From 2005 to 2009, the turnover of the UK construction equipment market recorded a Compound Annual Rate of Change (CARC) of -10.08%, largely due to increasing national credit restrictions and a decrease in construction activity. However, the construction equipment market is expected to improve between 2010–15 (the forecast period) due to increased construction activity and upcoming infrastructure projects to support the 2012 London Olympic Games.
With a 43.7% share, the material handling equipment category was the largest category in the market in 2009. Earth-moving equipment also accounted for almost half of the value of market exports over the review period. However, tunneling and drilling equipment is forecast to witness the fastest category export growth of over 10% during the forecast period.
Decreasing turnover
Over the review period, the turnover of the UK construction equipment market recorded a CARC of -10.08%, largely due to increasing national credit restrictions and a decrease in construction activity. In 2009, the turnover of the construction equipment market stood at US$5.0 billion, which represented an annual decline of over 40%. During 2008–09, the UK economy was negatively affected by the unstable global financial market and, in the third quarter of 2008, it officially entered a recession. This economic instability limited the performance of the construction industry during 2009. However, the construction equipment market is expected to improve throughout the forecast period due to increased construction activity and upcoming infrastructure projects to support the 2012 London Olympic Games.
Material handling equipment the largest category in the market
With a 43.7% share, the material handling equipment category was the largest category in the market in 2009. Over the review period, the category registered a CARC of almost -10%, and valued at over US$2 billion in 2009. As a result of a recovery in construction activity, the category is expected to record solid growth during the forecast period, to value of over US$3 billion in 2015. The earth moving equipment and concrete equipment categories recorded the second and third largest turnovers.
Positive impact from the Olympic Games
The growth of the UK construction equipment market is expected to be supported by ongoing construction and infrastructure projects during the forecast period, including projects associated with the London 2012 Olympic Games. The construction of sports stadiums, accommodation facilities and other key sites is expected to cost a total of US$6.3 billion.
Innovative market
UK construction equipment companies have been integral to key developments in equipment, product design, and technical innovation, while the Construction Equipment Association (CEA) and UK Trade & Investment continue to ensure the quality of equipment production. Moreover, many leading construction equipment brands, such as JCB, Terex, Komatsu, and Caterpillar, operate in the UK due to its transparent trade policies. Furthermore, many non-European companies are also attracted to the UK because of its highly favorable market conditions and strong government support for businesses. The CEA also provides strategic help and support to businesses, helping them to overcome trade barriers and break into new markets.
Earth moving equipment accounts for almost half of all exports
The value of construction equipment exports in the UK stood at over US$4 billion in 2009, following a substantial annual decrease. The value of construction equipment exports recorded a CARC of -6.61% over the review period. Earth moving equipment accounted for almost half of the value of market exports over the review period. However, tunneling and drilling equipment is forecast to witness the fastest category export growth of over 10% during the forecast period.
To purchase the full version of ‘The Future of the Construction Equipment Market in the UK to 2015’, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
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For more information on the article, please contact:
Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com
London – July 20, 2011 – From 2005 to 2009, the turnover of the UK construction equipment market recorded a Compound Annual Rate of Change (CARC) of -10.08%, largely due to increasing national credit restrictions and a decrease in construction activity. However, the construction equipment market is expected to improve between 2010–15 (the forecast period) due to increased construction activity and upcoming infrastructure projects to support the 2012 London Olympic Games.
With a 43.7% share, the material handling equipment category was the largest category in the market in 2009. Earth-moving equipment also accounted for almost half of the value of market exports over the review period. However, tunneling and drilling equipment is forecast to witness the fastest category export growth of over 10% during the forecast period.
Decreasing turnover
Over the review period, the turnover of the UK construction equipment market recorded a CARC of -10.08%, largely due to increasing national credit restrictions and a decrease in construction activity. In 2009, the turnover of the construction equipment market stood at US$5.0 billion, which represented an annual decline of over 40%. During 2008–09, the UK economy was negatively affected by the unstable global financial market and, in the third quarter of 2008, it officially entered a recession. This economic instability limited the performance of the construction industry during 2009. However, the construction equipment market is expected to improve throughout the forecast period due to increased construction activity and upcoming infrastructure projects to support the 2012 London Olympic Games.
Material handling equipment the largest category in the market
With a 43.7% share, the material handling equipment category was the largest category in the market in 2009. Over the review period, the category registered a CARC of almost -10%, and valued at over US$2 billion in 2009. As a result of a recovery in construction activity, the category is expected to record solid growth during the forecast period, to value of over US$3 billion in 2015. The earth moving equipment and concrete equipment categories recorded the second and third largest turnovers.
Positive impact from the Olympic Games
The growth of the UK construction equipment market is expected to be supported by ongoing construction and infrastructure projects during the forecast period, including projects associated with the London 2012 Olympic Games. The construction of sports stadiums, accommodation facilities and other key sites is expected to cost a total of US$6.3 billion.
Innovative market
UK construction equipment companies have been integral to key developments in equipment, product design, and technical innovation, while the Construction Equipment Association (CEA) and UK Trade & Investment continue to ensure the quality of equipment production. Moreover, many leading construction equipment brands, such as JCB, Terex, Komatsu, and Caterpillar, operate in the UK due to its transparent trade policies. Furthermore, many non-European companies are also attracted to the UK because of its highly favorable market conditions and strong government support for businesses. The CEA also provides strategic help and support to businesses, helping them to overcome trade barriers and break into new markets.
Earth moving equipment accounts for almost half of all exports
The value of construction equipment exports in the UK stood at over US$4 billion in 2009, following a substantial annual decrease. The value of construction equipment exports recorded a CARC of -6.61% over the review period. Earth moving equipment accounted for almost half of the value of market exports over the review period. However, tunneling and drilling equipment is forecast to witness the fastest category export growth of over 10% during the forecast period.
To purchase the full version of ‘The Future of the Construction Equipment Market in the UK to 2015’, please click here.
About Industry Review:
Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.
We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.
The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.
With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.
For more information, please visit our website at www.industryreview.com
For more information on the article, please contact:
Press Contact:
Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com
Too bad because the construction manufacturing industry has been affected by the current recession.
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