Global demand for construction equipment is forecast to expand 4.4% per year through 2023 to $258 billion, recovering from the weak performance of the 2013-2018 period. Key trends driving market gains include:
However, market gains will be restrained by the large amount of construction equipment already in use in industrialized countries and the continuing popularity of used machines in developing nations.
Through 2023, the Asia/Pacific region will account for 53% of all new construction equipment demand, with China alone comprising 27% of all new product sales gains between 2018 and 2023:
Because nonconstruction markets account for such a large portion of global construction machinery sales, equipment frequently utilized in multiple applications will see the strongest growth prospects going forward. As the global construction, mining, forestry, agricultural, and energy sectors expand, sales of excavators, loaders, dozers, off-highway trucks, cranes, and draglines will surge. These product types will account for 72% of all gains between 2018 and 2023.
This Freedonia industry study analyzes the $21.3 billion dollar global foamed plastic insulation market. It presents historical demand data (2008, 2013, and 2018) and forecasts (2023 and 2028) by product (PUR/PIR, SPF, XPS, EPS, and other) and market (residential, nonresidential, industrial equipment, HVAC/air distribution, appliances, transportation equipment, and other). The study also evaluates company market share and competitive analysis on key industry players including Armacell International, Asahi Kasei, BASF, Bridgestone, Carlisle Companies, Covestro, Dow, DuPont, Eastern Polymer Group, Huntsman, Icynene-Lapolla, K-FLEX, Kingspan Group, Nippon Aqua, Owens Corning, Saint-Gobain, Sekisui Chemical, SOPREMA, UNILIN, and Xella International.