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2. Moderate growth for European market

Sales of construction equipment in 15 key Western European markets are expected to grow 2 per cent this year to almost 145,000 units, according to  Off-Highway Research. This moderate rise follows an 11 per cent surge in 2016, which was driven by booming demand from the German residential construction sector.

Most countries in Europe will see increased equipment sales in 2017, including the major markets of France, Italy and the UK. However, the German market is expected to see a sharp correction, having hit record levels in 2016. This slide in Europe’s biggest equipment market will offset many of the gains seen elsewhere.

Markets in the Nordic region remain particularly strong, with Sweden and Norway expected to see record equipment sales this year. Meanwhile markets in Southern Europe will continue to recover this year. But while growth will be strong in percentage terms, unit sales remain low compared to the volumes seen in the pre-crisis years.

Perhaps most surprising is the 8 per cent rise expected in the UK equipment market this year. Sales fell 6 per cent last year on the back of the Brexit referendum result, following several years of robust growth. The 8 per cent rebound forecast for this year will take volumes back above 2015 levels and is being driven by residential construction activity and the country’s pipeline of infrastructure projects.

Off-Highway Research’s mid-year update is published as part of the company’s European Service. Click here for more details.  Please contact us at [email protected] if you would like to subscribe to any services or have any further questions. Subscriptions can also be bought on-line via www.offhighway-store.com. Click here to subscribe to the European Service.