Machines or gadgets intended for use in building, tree pruning, and related construction tasks are referred to as construction equipment. These items are typically pulled as trailers. There are many different types of enterprises in the construction equipment industry that design, manufacture, and sell construction equipment to end users. Some examples of this equipment include motor graders, cranes, backhoe loaders, and excavators.
France Construction Equipment Market Driving Factors and Challenges
Rising government spending on infrastructure and construction projects, a rise in foreign direct investments in the sector, and improvements to the nation's road transport network as a result of growing urbanisation and population are the key drivers propelling the growth of the French construction market. Additionally, each of these elements has a favourable effect on the country's rising need for construction equipment. Major cities see increased traffic as a result of commuters using a range of private and public transit choices, a result of the increasing rate of urbanisation. Consequently, the French government has placed a high premium on building road infrastructure.
Furthermore, enhancing a nation's cross-border road network is another important way to improve its business environment. Therefore, the government's increasing focus on developing the country's road infrastructure network has resulted in a great requirement for construction equipment across the nation. In the upcoming years, it is expected that the government's practical initiatives for infrastructure development throughout France will fuel the explosive growth in demand for construction equipment. Throughout the projection period, there will be a huge demand for construction equipment due to rising investments made to improve France's infrastructure.
The fundamental problem facing the French construction equipment market is the high cost of equipment replacement and maintenance, which puts a pressure on construction companies and equipment rental organisations. This equipment wears down over time due to continuous use and support of heavy loads, necessitating routine maintenance checks and, in the worst cases, complete replacement. Because they have to spend a lot of money to make sure the machinery is always operating effectively, construction companies and equipment rental companies that own these machines have to pay more for their operations.
In addition, the French market's need for construction equipment is negatively impacted by decreasing production of steel and other raw materials as a result of falling prices. Furthermore, the country's real estate sector suffers from the diminishing production as a result of a shortage of raw materials. This further reduces the potential growth for the construction equipment industry by making it more difficult for construction businesses to achieve project completion dates.
Impact of COVID-19 on France Construction Equipment Market
The France construction equipment market was greatly affected by the COVID-19 outbreak. Construction activities were disrupted by strict lockdown measures and supply chain problems, which resulted in project cancellations and delays. Further impeding market expansion were doubts about the pace of economic recovery and a decline in infrastructure project funding. The market for construction equipment did, however, gradually rebound as limitations relaxed and economic activity picked back up. In addition, despite persistent difficulties, there were some prospects for market revival thanks to government stimulus programmes and a greater emphasis on infrastructure development.
France Construction Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Caterpillar, Hitachi Construction Machinery, Hyundai Construction Equipment, JCB, Kobelco, Komatsu, Konecranes, Kubota, Liebherr, Manitou Group, Takeuchi, Toyota Material Handling, Volvo Construction Equipment, Xuzhou Construction Machinery Group (XCMG), Yanmar, Others.
France Construction Equipment Market Segmentation:
By Drive Type: Based on the Drive Type, France Construction Equipment Market is segmented as; Electric/Hybrid, Hydraulic.
By Equipment Type: Based on the Equipment Type, France Construction Equipment Market is segmented as; Earthmoving Equipment (Backhoe Loaders, Excavators, Motor Graders, Other Earthmoving Equipment), Road Construction (Road Rollers, Asphalt Pavers), Material Handling (Cranes, Forklift & Telescopic Handlers, Other Material Handling Equipment), Other Construction Equipment (Concrete Pump Trucks, Dumpers, Tippers).
By Region: This research also includes data for Central Region, Eastern Region, Northern Region, Southern Region, Western Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.