Chicago, April 26, 2022 (GLOBE NEWSWIRE) — According to the latest research report by Arizton, the Spain construction equipment market will grow at a CAGR of 7.19% during 2022-2028. Increasing infrastructure activities in Spain are expected to boost the demand for construction equipment. In 2021, the material handling equipment market accounted for the largest share in Spain.
Spain Construction Equipment Market Report Scope
|MARKET SIZE (2028)||$7.1 Billion|
|MARKET SIZE (2022)||$4.6 Billion|
|MARKET SIZE – VOLUME (2028)||97,658 Units|
|SEGMENTS COVERED||Type and End-Users|
Market Trends & Drivers
- The investment in hydraulic infrastructures will reach $842.7 million in the upcoming years. Approx. $102 million will be invested through public entities and state-owned companies.
- IoT for remote monitoring is gaining popularity in the construction industry across developed and developing countries.
- Environmental infrastructure will have an investment of $174 million to stop water contamination and fight against climatic change. The Spanish government has planned a total investment of $661 million for the conservation and restoration of marine and land ecosystems, and their biodiversity. Demand for equipment such as excavators, cranes, motor graders, and backhoe loaders is expected to be high for the green recovery infrastructure projects in Spain.
- According to the Spanish Ministry of Commerce and Industry, FDI inflows to Spain reached $6.6 billion in the first half of 2021. Among these investments, 60.2% were directed toward the region of Madrid, followed by Catalonia at 19.1%.
- According to the ministry of transport and mobility, in 2021, the Spanish government planned to invest $26.2 billion in rail infrastructure projects, and $82 million worth of investment in water infrastructure in Seville.
- As of January 2022, the Ecological Transition Ministry is processing 697 renewable energy projects, including 467 solar parks, 211 wind farms, 2 hydroelectric proposals, and 17 hybrid plants. These increasing projects are expected to increase the demand for earthmoving equipment in the renewable energy sector.
- The surge in infrastructure development projects across Spain such as Punta Norte Residential Complex ($220 million), Palencia-Aguilar de Campoo High-Speed Railway Line Palencia Norte-Amusco section ($114 million), Sinova Wastewater Treatment Plant ($72 million) and Sabinar Photovoltaic Complex 252 MW ($213 million).
- As per the State Budget contemplates, the water quality infrastructure for the Hydrographic Confederations and National Parks as an investment of $785.6 million had increased its budget by 11%, with a forecast of $44 million for 2021.
- However, ICEX (Spanish Institute of Foreign Trade) predicts that the GDP is projected to grow by 5.5% in 2022 and 3.8% in 2023. Due to the COVID-19 Omicron wave, consumption contracted. However, investment and exports grew sharply in 2021. The economy is about 4% smaller in the first quarter of 2022 compared to the pre-pandemic levels.
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- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by type and end-users
- Competitive Landscape – 5 key vendors and 7 Other prominent vendors and 6 distributors are profiled in the report
Front runners in the Spain construction equipment market have a high regional market share, strong distribution networks, and high product diversification.
- Volvo CE
Other Prominent Vendors
- Hitachi Construction equipment
- Hyundai construction equipment
- LVP Cranes
- ITT Bobcat OF
- AURTENECHE MAQUINARIA
- SUR KOMAT MAQUINARIA
Explore our industrial machinery profile to know more about the industry.
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