Sweden Construction Equipment Market Introduction and Overview
According to SPER Market Research, the Sweden Construction Equipment Market is estimated to reach USD 2.62 billion by 2033 with a CAGR 6.29%.
The report includes an in-depth analysis of the Sweden Construction Equipment Market, including market size and trends, product mix, distribution channels, and supplier analysis. Construction equipment is a broad category of machinery used in the construction, maintenance, and deconstruction of infrastructure and constructions. This equipment ranges in size from massive devices like excavators, cranes, and bulldozers to little tools like power drills and concrete mixers. Each type of equipment serves a specific purpose, such as lifting, earthmoving, or material handling, and is essential to boosting productivity and efficiency on construction sites. Additionally, technological advancements have led to the development of increasingly sophisticated equipment, which is usually equipped with automated controls and GPS systems to improve security and accuracy.
- August 2023: As a crucial component of its post-sales operation, Sweden-based Volvo Construction Equipment launched an enhanced line of Volvo Service Contracts. Customers can manage the repair and maintenance requirements of their Volvo machines with the use of these contracts, which are a rebranding of the former Customer Services Agreements.
- Volvo CE made a major statement in June 2023 about moving its global headquarters. The business will relocate to Eskilstuna, Sweden, from its existing location in Gothenburg, Sweden. This calculated action is a component of a larger project that connects with local business networks, social organizations, and educational institutions in order to promote cooperation and creativity.
Market Opportunities and Challenges
Opportunities: The improvement of road transportation infrastructure brought about by the nation's urbanization and population boom, increased investments in the mining and construction sectors, and rising government spending on infrastructure development are the primary drivers of the Swedish construction market's growth. The increasing demand for construction equipment across the country is positively impacted by these variables as well. Furthermore, with 88% of the people living in cities as of 2022, Sweden has one of the greatest rates of urbanization in Europe. The high rate of urbanization in these areas causes customers to use a variety of private and public transportation choices for their journeys, which exacerbates congestion. Thus, the development of road infrastructure has become a major concern for the Swedish government.
Challenges: One of the primary problems with Sweden's construction equipment market is the high cost of equipment replacement and maintenance, which negatively impacts both construction companies and equipment rental companies. Owing to their extended operation hours and constant need to support massive weights, these equipment items are prone to wear and tear, which calls for routine maintenance checks and, in the worst cases, complete product replacement.
Market Competitive Landscape
The foreign construction equipment businesses that operate throughout Sweden, either through their production site or a network of dealerships, make the market competitive and fragmented. Major players include, but are not limited to, Hyundai Construction Equipment, Komatsu, Liebherr, Volvo Construction Equipment, Kubota, Kobelco, JCB, Hitachi Construction Machinery, Takeuchi, and Caterpillar.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Equipment Type, By Drive Type |
| Regions covered | Eastern region, Western region, Southern region, Northern region. |
| Companies Covered | Caterpillar, Hitachi Construction Machinery, Hyundai Construction Equipment, JCB, Kobelco, Liebherr, Kubota, Volvo Construction Equipment, Yanmar, Others. |
COVID-19 Impact on Sweden Construction Equipment Market
Sweden's construction equipment industry was significantly impacted by the COVID-19 pandemic, which presented both opportunities and difficulties. The construction industry was initially disrupted by labor shortages, supply chain disruptions, and lockdowns, which resulted in project delays and a drop in equipment demand. The temporary shutdown of multiple construction sites resulted in a decrease in equipment sales and rental activity. However, the market saw a surge in demand driven by increased government investment on housing and infrastructure projects as rules loosened and the economy began to recover. The emphasis on sustainability and green building methods also generated interest in more advanced, eco-friendly construction equipment.
Key Target Audience:
- Construction Companies
- Infrastructure Development Firms
- Government Agencies
- Contractors and Subcontractors
- Mining Companies
- Agricultural Enterprises
- Rental Equipment Businesses
- Engineering and Consulting Firms
Our in-depth analysis of the Sweden Construction Equipment Market includes the following segments:
| By Equipment Type: | Earthmoving EquipmentExcavatorsBackhoe LoadersMotor GradersOthersRoad Construction EquipmentRoad RollersAsphalt PaversMaterial Handling EquipmentCranesForklift & Telescopic HandlesOthers |
| By Drive Type: | HydraulicElectric/Hybrid |
Key Topics Covered in the Report:
- Sweden Construction Equipment Market Size (FY’2024-FY’2033)
- Overview of Sweden Construction Equipment Market
- Segmentation of Sweden Construction Equipment Market By Equipment Type (Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, Others.)
- Segmentation of Sweden Construction Equipment Market By Drive Type (Hydraulic, Electric/Hybrid)
- Expansion Analysis of Sweden Construction Equipment Market
- Problems and Obstacles in Sweden Construction Equipment Market
- Competitive Landscape in the Sweden Construction Equipment Market
- Impact of COVID-19 and Demonetization on Sweden Construction Equipment Market
- Details on Current Investment in Sweden Construction Equipment Market
- Competitive Analysis of Sweden Construction Equipment Market
- Prominent Players in the Sweden Construction Equipment Market
- SWOT Analysis of Sweden Construction Equipment Market
- Sweden Construction Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Sweden Construction Equipment Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Sweden Construction Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Sweden Construction Equipment Market
7. Sweden Construction Equipment Market, By Equipment Type (USD Million) 2020-2033
7.1. Sweden Construction Equipment Market Size, Share and Forecast, By Equipment Type, 2020-2026
7.2. Sweden Construction Equipment Market Size, Share and Forecast, By Equipment Type, 2027-2033
7.3. Earthmoving Equipment
7.3.1. Excavators
7.3.2. Backhoe Loaders
7.3.3. Motor Graders
7.3.4. Others
7.4. Road Construction Equipment
7.4.1. Road Rollers
7.4.2. Asphalt Pavers
7.5. Material Handling Equipment
7.5.1. Cranes
7.5.2. Forklift & Telescopic Handles
7.5.3. Others
8. Sweden Construction Equipment Market, By Drive Type (USD Million) 2020-2033
8.1. Sweden Construction Equipment Market Size, Share and Forecast, By Drive Type, 2020-2026
8.2. Sweden Construction Equipment Market Size, Share and Forecast, By Drive Type, 2027-2033
8.3. Hydraulic
8.4. Electric/Hybrid
9. Sweden Construction Equipment Market Forecast, 2020-2033 (USD Million)
9.1. Sweden Construction Equipment Market Size and Market Share
10. Sweden Construction Equipment Market, By Region, 2020-2033 (USD Million)
10.1. Sweden Construction Equipment Market Size and Market Share By Region (2020-2026)
10.2. Sweden Construction Equipment Market Size and Market Share By Region (2027-2033)
10.3. France
10.4. Germany
10.5. Italy
10.6. Spain
10.7. United Kingdom
10.8. Rest of Europe
11. Company Profile
11.1. Caterpillar
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Hitachi Construction Machinery
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Hyundai Construction Equipment
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. JCB
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Kobelco
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Liebherr
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Kubota
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Volvo Construction Equipment
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Yanmar
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. Reference Links
14. List of Abbreviations