The UK Construction Equipment Market by Volume to Hit 65,010 Units by 2029 - Arizton

According to Arizton's latest research report, the U.K. construction equipment market will grow at a CAGR of 2.15% during 2023-2029.

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Market Overview

The U.K. construction equipment market is set to expand significantly, driven by substantial investments in infrastructure projects and renewable energy initiatives across the country. As of 2023, the market size by volume was recorded at 57,227 units and is expected to reach 65,010 units by 2029.

Infrastructure Investments Fuel Market Growth

The U.K. government's commitment to infrastructure development underpins the optimistic outlook for the construction equipment sector. The National Infrastructure and Construction Pipeline, unveiled in 2023, outlines planned investments totaling approximately USD 81 billion for major economic and social infrastructure projects over the next decade. This initiative aims to bolster transport infrastructure, expand ports, railways, roadways, and highways, driving demand for earthmoving equipment such as excavators.

Key Developments Driving Demand

1.     Focus on Northern England: In March 2024, a transformative initiative was launched at the Convention of the North to accelerate housing construction and urban regeneration across northern England. A USD 263 million investment will support various projects, empowering regional leaders to unlock the area's potential.

2.     Green Energy Initiatives: The U.K. Infrastructure Bank's USD 37.9 million funding for GeoPura's Hydrogen Power Units and a major green hydrogen production facility underscores the country's push towards sustainable energy solutions. Initiatives like the Green Finance Fund further support London's goal of achieving Net Zero emissions by 2030, stimulating demand for eco-friendly construction equipment.

3.     Housing and Infrastructure Projects: The Affordable Homes Programme, backed by USD 14.3 billion in funding, aims to deliver 180,000 new homes by March 2029. Additionally, investments in projects like the A5 road upgrade and Casement Park GAA stadium redevelopment in Northern Ireland are set to bolster construction activity.

Challenges and Market Dynamics

Despite robust growth prospects, the construction equipment market faces challenges such as rising construction costs, exacerbated by material shortages and skilled labor deficits post-Brexit. The sector's resilience hinges on overcoming these obstacles while maintaining momentum in infrastructure development.

Technological Advancements and Market Players

Technological innovations such as AI and robotics are enhancing equipment efficiency, exemplified by projects like Hitachi Construction Machinery's ConSite Mine and the HERON autonomous road maintenance robot. Moreover, the adoption of Hydrotreated Vegetable Oil (HVO) to replace red diesel is aligning with the U.K.'s carbon reduction goals.

Conclusion

The U.K. construction equipment market is poised for growth fueled by infrastructure investments, green energy initiatives, and technological advancements. As the government continues to prioritize sustainable development and urban regeneration, stakeholders in the construction sector are gearing up to capitalize on emerging opportunities, ensuring robust market expansion in the coming years.

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Prominent Vendors

• Caterpillar
• Komatsu
• Volvo Construction Equipment
• Hitachi Construction Machinery
• Liebherr
• JCB
• Takeuchi Manufacturing Co., Ltd.
• SANY
• Xuzhou Construction Machinery Group (XCMG)
• Kobelco
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Kubota
• CNH Industrial
• Hyundai Construction Equipment
• John Deere

Other Prominent Vendors

• Liugong
• Yanmar
• Terex Corporation
• Manitou Group
• DEVELON
• Hidromek
• Tadano
• KATO WORKS CO., LTD.
• MERLO Spa
• Bobcat
• Haulotte
• Toyota Material Handling
• Ammann
• AUSA
• Sunward Intelligent Equipment Group
• Mecalac
• Hydrema
• Wacker Neuson
• The Manitowoc Company, Inc.
• JLG
• Bomag
• Euromach
• Bell Equipment
• Versalift
• C.M.C. s.r.l.

Distributors Profiles

• Gordons Construction Equipment
• Molson Group
• Dennis Barnfield Ltd
• Warwick Ward
• Ernest Doe & Sons Ltd
• SMT GB

Segmentation by Type

• Earthmoving Equipment
• Excavator
• Backhoe Loaders
• Wheeled Loaders
• Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
• Road Construction Equipment
• Road Rollers
• Asphalt Pavers
• Material Handling Equipment
• Crane
• Forklift & Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
• Other Construction Equipment
• Dumper
• Tipper
• Concrete Mixer
• Concrete Pump Truck
• Segmentation by End Users
• Construction
• Mining
• Manufacturing
• Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

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