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 will be expected to drive the demand for construction gear in Belgium market. In Belgium, construction, and manufacturing industries account for ~6. 6% and ~3%, respectively, of the particular GDP within 2021. The growth associated with the market is being driven simply by the building 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 Building Equipment Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2028) | $2. 74 Billion | |
| MARKETPLACE 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 12 MONTHS | 2022-2028 | |
| TYPE | Earthmoving Equipment, Road Structure Equipment, plus 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
- Within 2021, the government allocated $1, 083. 3 million fund from nation recovery & resilience plan towards the particular renovation of buildings within Wallonia, Flanders, & Brussels region associated with the country. Additionally, Belgian railways planned to receive additional $267. 6 million fund over the next three years. Major part of this fund is usually allocated with regard to 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 within 2022.
- Belgium government also invested $299. 7 mil on affordable housing as part of the Regional Housing Plan and the particular Habitat Alliance, to lead the sustainable renovation associated with existing housing stock, because well since the building of 6, 400 new housing units in 2021.
- In March 2022, federal cabinet allocated $1. a few billion regarding development of alternative energy resources. The government aims to increase six. 5GW associated with wind power and four. 9GW of solar power simply by 2030. Increasing solar, wind energy tasks across the country is expected to drive demand for mini excavators & cranes.
Recent Innovations and Development
- Caterpillar, Volvo construction products, Komatsu, & Kubota are the market leaders accounted intended for 85% associated with market share in 2021Recent Improvements & Advancement in the Market
- Other OEMs within the nation such as Kobelco, Komatsu, Caterpillars, Hitachi, plus Hyundai structure machinery focus on continuous improvement in aftersales services, which are supported by digital technology.
- In 2022, Hitachi launches the digital application of tools performance monitoring and technical support system.
- In 2021, Hitachi furthermore launches the spare parts e- commerce platform to get enhancing the particular customer experience.
The report provides the detailed analysis simply by Segmentation
Type
- Earthmoving Gear:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
- Road Design Equipment
- Road Rollers
- Asphalt Pavers
- Material Handling Products
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Segmentation by End Users
- Construction
- Manufacturing
- Mining
- Others
Important Vendors
- Caterpillar
- Komatsu
- VOLVO
- JCB
- SANY
- Hyundai
- KOBELCO
- Zoomlion
- Hitachi
- Kubota
- Liebherr Group
Other Prominent Vendors
- Terex corporation
- LIUGONG
- Yanmar
- CASE Construction Tools
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 in order to know more about the industry.
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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 reviews and advisory and consulting services.
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