Market Size of Italy Construction Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.79 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Italy Construction Equipment Market Analysis
Italy's construction equipment market was valued at USD 3,174.23 million in the current year and is expected to reach USD 4,437.55 million by the next five years, registering a CAGR of 5.79% in terms of revenue during the forecast period.
- Over the long term, the increase in construction activity is expected to drive demand for construction equipment. Government programs such as stimulus packages and lower housing costs that encouraged people to buy new homes are expected to drive market expansion during the forecast period.
- The demand for cost-effective machines, combined with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to choose electric and hybrid vehicles over traditional hydraulic and mechanical vehicles, which in turn is anticipated to boost the demand for construction equipment across the country during the forecast period.
- To address major issues such as traffic congestion, population growth, high manufacturing costs, and aging transportation infrastructure, the government is investing heavily in infrastructure development. To improve their current infrastructure, developed economies are investing in technologies such as earthquake-proof buildings, hyperloops, and so on. This is likely to witness major growth for the market during the forecast period.
Italy Construction Equipment Industry Segmentation
Construction equipment is defined as any type of equipment used for the execution, completion, erection, operation, or maintenance of any construction project or work. Construction equipment is also used in earthmoving works during the construction of roads, bridges, and dams. Some types of construction equipment, like excavators and wheel loaders, are also used in mining.
Italy's construction equipment market is segmented by machinery type and drive type. By machinery type, the market is segmented into cranes, telescopic handlers, excavators, loaders and backhoes, motor graders, and other machinery types. By drive type, the market is segmented into internal combustion engines and electric and hybrid.
For each segment, the market sizing and forecast have been done based on the value (USD).
| By Machinery Type | |
| Cranes | |
| Telescopic Handlers | |
| Excavators | |
| Loaders and Backhoes | |
| Motor Graders | |
| Other Machinery Types |
| By Propulsion | |
| Internal Combustion Engine | |
| Electric and Hybrid |
Italy Construction Equipment Market Size Summary
Italy's construction equipment market is poised for significant growth, driven by increased construction activities and substantial government investments in infrastructure. The government's focus on stimulating the economy through infrastructure projects, such as high-speed rail systems and urban development, is expected to boost the demand for construction equipment. Additionally, the shift towards electric and hybrid vehicles, prompted by regulatory pressures for lower emissions, is influencing manufacturers to innovate and adapt to these new market demands. This transition is anticipated to further propel the market's expansion over the forecast period.
The market is characterized by the presence of major industry players like Caterpillar Inc., Liebherr Group, and AB Volvo, who are actively introducing advanced products to maintain their competitive edge. Recent innovations, such as Bobcat's T86 compact tracked loader and Doosan Group's electric mini-excavator, highlight the industry's commitment to sustainability and technological advancement. The establishment of new manufacturing facilities, such as CNH Industrial N.V.'s plant in Cesena, underscores the industry's focus on producing environmentally friendly equipment. These strategic developments are expected to drive continued growth and innovation in Italy's construction equipment sector.
Italy Construction Equipment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Infrastructure Activities Across the Country
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1.2 Market Restraints
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1.2.1 Rapid Expansion of Construction Equipment Rental Industry
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value - USD)
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2.1 By Machinery Type
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2.1.1 Cranes
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2.1.2 Telescopic Handlers
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2.1.3 Excavators
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2.1.4 Loaders and Backhoes
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2.1.5 Motor Graders
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2.1.6 Other Machinery Types
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2.2 By Propulsion
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2.2.1 Internal Combustion Engine
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2.2.2 Electric and Hybrid
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Italy Construction Equipment Market Size FAQs
What is the current Italy Construction Equipment Market size?
The Italy Construction Equipment Market is projected to register a CAGR of 5.79% during the forecast period (2024-2029)
Who are the key players in Italy Construction Equipment Market?
Liebherr Group, CNH Industrial N.V., AB Volvo, J C Bamford Excavators Ltd. and Caterpillar Inc. are the major companies operating in the Italy Construction Equipment Market.
