Chicago, June 28, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the Portugal construction equipment market is expected to grow at a CAGR of 5. 21% during 2022-2028. In Portugal, the mining industry is anticipated to boom. The mining industry is expected to reach 1, 439 units by 2028, growing at a CAGR of 3. 22%.
Portugal Data Center Market Report Scope
|MARKET SIZE (2028)||$1. 3 Billion|
|MARKETPLACE SIZE (2021)||$981. 6 Billion|
|CAGR (2022-2028)||5. 21%|
|MARKET SIZE- VOLUME (2028)||13, 572 units|
|FORECAST 12 MONTHS||2022-2027|
|TYPE||Earthmoving Gear, Road Construction Equipment, and Material Handling Equipment|
|END-USERS||Construction, Manufacturing, Mining, and Others|
Growth i n Recycle & Waste Management Industries Supports t he Demand for Medium Size Excavators
Excavators are used for handling waste for recycling purpose. With the rise of recycling & waste management activities across the region, the demand for medium size excavator has increased. Hitachi Construction Machinery (HCE) introduced ZX300LCN-6 excavator in Spain market for recycling work.
The excavators are replacing wheel loaders in England market for recycling & waste management processes. Due to surge in recycling activities major OEMs such as Caterpillar, Kobelco & Volvo Construction equipment have also focused on introducing medium sized light weight excavator in Portugal market.
- The growth in infrastructure investment under national development plan 2030, surge in civil engineering & housing projects in 2021, is expected to support the demand for excavators in Portugal marketplace.
- In 2021, Portugal government invested $45. 1 billion for development of public & transport infrastructures. The government has furthermore shifted its focus on renewable energy resources and planned to invest $26. 2 billion to upgrade the particular renewable energy industry in the next 10 years.
- The major infrastructure projects under progress inside 2022 are Porto Metro Extension ($333. 9 million), Rail Link to Beja & Faro ($246. five million), Cascais to Cintura ($214. 3 million), Southern International Corridors ($160. 7 million), Northern Corridor associated with Beira Alta Line ($59. 2million), Algarve Railways Upgrade ($26. 7 million) & Porto- Lisbon Railways Line ($4. 8 million).
- According to European Commission, Portugal’s economy is expected to grow by 5. 8% in 2022. European Union granted $14. 8 billion in 2021 under Portugal Recovery & Resilience Plan. Fund is majorly allocated for climate objective & digitalization.
- Rising investment in housing & public infrastructure supports the growth of residential buildings and civil engineering sectors which are expected in order to grow by 5. 5% and 7. 5% respectively in 2022. In addition to it, Surge in government expense for development of logistics infrastructure, growing E- commerce sector and rising exports have positive impact on Portugal logistics & warehousing market.
- The particular government is investing in upgrading transport infrastructure plus expansion of major ports such as Leixos & Sines in 2022. Italy exports is expected to grow by 22% inside 2022. The growth in logistics & warehouse industry to drive demand for material handling equipment like forklifts.
- Portugal government aims to increase recycle capacity by 65% by 2035. Government has recycling where possible plants in Lisbon & Porto region of the particular country. With the rise of recycling & waste management activities across the region, the demand with regard to medium size excavator has grown in 2021. Hitachi Construction Machinery (HCE) introduced medium sized ZX300LCN-6 excavator in Portugal market for recycling function.
- Hitachi Building Machinery, Caterpillar, Komatsu, & Liebherr are the market leaders accounted for 23. 1% of market share in 2021.
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Products
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
- Hitachi Construction Machinery
- Hyundai Construction Tools
Some other Prominent Vendors
- Terex corporation
- Liu Gong
- CASE Construction Equipment
- Auto Mecanica Alvorgenese
- Ascendum Maquninas
- Sociedade Tecnica de Equipamentos e Tractores SA
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