Responsive Image Banner

Global construction equipment sales for 2022 revealed

Premium Content
Global construction equipment sales Global construction equipment sales - actual and predicted

Global construction equipment sales fell 7% last year from the record high established in 2021, according to the latest information from Off-Highway Research. The downturn was entirely due to the collapse of demand in China – sales in the world excluding China grew 7% in 2022. 

The forecast for 2023 is a 7% decline in global sales. This is a slightly steeper downturn than envisaged a year previously, due to the weakness of the Chinese market. Stripping China out of the equation, the remaining countries of the world will only see a 5% downturn overall.

Off-Highway Research would still classify the 2022-2025 downturn as a soft landing. Only single-digit year-on-year falls in equipment sales are expected, and the volume of machines sold throughout the forecast period should stay above one million units per year. Prior to the current up-swing, such a volume was only achieved twice before.

The forecast is based on the premise that infrastructure investment will be strong and that although interest rates are rising, they will only slow down residential construction, rather than stop it entirely.

However, there are risks to the forecast and they are almost entirely on the downside. Inflation was a serious issue throughout 2022 and although improving, it remained high in early 2023. Add to that the war in Ukraine, which continues to heighten inflationary pressures worldwide and is therefore also exerting upward pressure on interest rates.

Off-Highway Research’s Global Market Review is available now to all subscribers. Contact [email protected] for more information about our subscription packages. The report can also be bought by non-subscribers here.

STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Latest News
Liebherr expands crane facilities in Ehingen
LWE breaks ground to begin development of new 54 hectare site for handover and dispatch
Longest turbine blades transported in Africa
New record for Vanguard with delivery of 25 turbines with 90 metre blades
Fagioli returns to UK market
Notus and Fagioli have a new joint venture business for heavy lifting and transport projects
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail: [email protected]
Alex Dahm Editorial Manager Tel: +44 (0) 1892 786206 E-mail: [email protected]
Matt Burk VP Sales Tel: +1 773 610 9467 E-mail: [email protected]
Simon Battersby Sales Manager Tel: +44 (0) 1892 786223 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA

Your VIP Pass to the World Cranes & Transport Summit

Dublin | Nov 18–19
Cap off the Summit with an exclusive Super-Premium Irish Whiskey Tasting at the historic Swan Bar.
🥃 Network with industry leaders in an intimate setting
🌍 Gain world-class insights at the conference
🍀 Experience the culture of old Dublin

I'M INTERESTED