Global sales of construction equipment sales are expected to stabilise in 2019, following two years of strong growth, according to specialist forecasting and market research company Off-Highway Research.
Worldwide equipment demand grew by 27% in 2017, the company said, following a period of decline which had run from 2012 to 2016. The momentum was maintained in 2018, with a further 26% increase. This took global equipment sales to an all-time high of 1.1 million units, with a retail value of US$110 billion.
Off-Highway Research pointed out that while the volume achieved in 2018 is expected to represent the peak of the current cycle, equipment sales in 2019 are forecast to remain close to last year’s total.
“After two years of solid and largely synchronised growth, the picture for the world’s major equipment markets is now looking more mixed,” said Chris Sleight, managing director of Off-Highway Research. “There will be moderate declines in a number of key markets in 2019, but the falls are not expected to be steep and will be partially offset by continued growth elsewhere. As a result, sales are expected to remain above 1 million units per year over the medium term, with a value in the region of US$100 billion.”