The market exceeded 1.1 million units last year, with a retail value in excess of US$110 billion.
Off-Highway Research has released the spring 2019 update to its Global Volume & Value Service, and Global Volume & Value Service PLUS, which provide data on the size of equipment markets by country and product in both unit (volume) and US Dollar (value terms).
A second year of robust growth has re-established China as the largest construction equipment market in the world.
The new Global Volume & Value Service PLUS is a powerful market-sizing tool, covering 16 products and 19 major countries, plus the rest of the world. It goes further than the standard Global Volume & Value Service by breaking data down by up to six size classes per product type in each of the 19 individual countries covered. This provides 524 data points per year, compared to 224 in the standard Service.
Such a rich pool of information is of particular interest to clients who require a deeper and more detailed knowledge of international markets.