A surge in demand from the mining segment, particularly coal mining, has been responsible for significant equipment sales in South Africa over the last two years. However, the construction industry has been weak and increased investment is badly needed to stimulate machine sales.
The Malaysian equipment market has grown over the last three years. It is showing increasing signs of sophistication and maturity, with an increasing proportion of new equipment being sold and the importance of used machine trading diminishing.
Off-Highway Research’s Chris Sleight was quoted in the Financial Times on the outlook for the global equipment market in light of comments which accompanied JCB’s financial results statement.
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The surge in major road building projects and new engine emission laws in China over the last three years have lifted demand for motor graders to its highest since 2010/11.
Demand for mobile lifting equipment in India, which is dominated by locally built pick & carry cranes, came close to 12,000 units in 2018.
Off-Highway Research has released the summer 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).
After remarkable growth in 2017 and 2018, sales of excavators are set to decline in China this year. However, volumes will still remain good and the country continues to emerge as a major exporter of this type of equipment.
Sales of crawler excavators in India more than doubled between 2015 and 2018, making it the third largest excavator market in the world after China and the US. This robust growth is set to continue, and it could overtake the US in 3-4 years.