Chicago, April 27, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the Italian construction equipment market will grow at a CAGR of 6.6% during the period 2022-2027. The Italian government has invested $35.4 billion in public infrastructure to stimulate demand for construction equipment.
According to the Italian National Institute of Statistics (ISTAT), the Italian government is investing $35.4 billion in public infrastructure projects in the first quarter of 2022. This investment will drive demand for construction equipment in Italy during the forecast period.
Due to government investments in highways, metro, construction projects and renewable energy sectors, the earthmoving equipment market is expected to grow strongly over the forecast period.
Scope of the Italy Construction Equipment Market Report
|MARKET SIZE (VOLUME – 2021)||77 thousand Units|
|MARKET SIZE (VOLUME – 2028)||120 thousand Units|
|YEAR OF REFERENCE||2021|
|TYPE||Earthmoving equipment, road construction equipment, material handling equipment|
|END USERS||Construction, manufacturing, mining and others|
|KEY SUPPLIERS||Caterpillar, Volvo, Liebherr, Komatsu, CNH Industrial, Hitachi, JCB, Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Kubota and SANY|
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- In 2020, demand for new construction equipment in Italy decreased by 8.3% as major infrastructure projects have been halted due to the COVID-19 pandemic.
- The material handling equipment segment in Italy is estimated at grow to one 6.35% CAGR by 2028. Italy is experiencing labor shortages in a variety of industries, including construction and manufacturing, which is driving demand for high-capacity luffing tower cranes to speed up construction and reduce worker dependency.
- As part of the “Italy Recovery and Resilience” program, the government has invested $35.5 billion in 2021 to improve public transport infrastructure which includes $31.5 billion for investments in the high-speed network and road maintenance as well as ~$4 billion to invest in intermodality and integrated logistics. Projects also include coverage of access rail links such as the Turin-Lyon lineand the 55 kilometer long Brenner Base Tunnelwhich would be completed by 2025. This line will be connect Fortezza in Italy to the Austrian city of Innsbruck.
- In 2021, electricity and natural gas producer Edison SPA joined a consortium with energy infrastructure company Snam SPA to implement the Puglia Green Hydrogen Valley project in Italy. The project will include the development of three green hydrogen production plants in Brindisi, Taranto and Cerignola. Italy has also accelerated the electrification of construction machinery.
- The construction equipment market is consolidated with caterpillar emerges as the leader, followed by Volvo Construction Equipment Italia SPA, Liebherr Group, Komatsu Group, CNH Industrial and Hitachi Construction Machinery (Europe). These companies have nearly 70% share of the total construction equipment market in Italy.
- Backhoe loaders
- Other Earthmoving Equipment (Other Loaders, Bulldozers, Trenchers)
road construction equipment
- Asphalt pavers
- Forklifts and telehandlers
- Aerial platforms (articulated platforms, telescopic platforms, scissor lifts
- Volvo construction equipment
- CNH Industrial
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Other Important Suppliers
- Jean Dheere
- Merlo SPA
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