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Classified in: Mining industry, Science and technology, Covid-19 virus
Subject: MRR

Europe Construction & Material Handling Machinery Market Analysis Report 2022: Market Players are Launching Electric Variants to Take Advantage Lower Running Costs


DUBLIN, Dec. 7, 2022 /PRNewswire/ -- The "Europe Construction & Material Handling Machinery Market Research Report: By Type, End Use, Customer, Propulsion Type - Industry Size and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

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Growing at a 5.1% CAGR, the European construction and material handling machinery market revenue will rise to $75,436.3 million by 2030 from an estimated $48,411.6 million in 2021. Currently, such equipment is being utilized the most for building residential units, because of Europe's growing population, which is increasingly moving to the cities.

In this regard, the rapid construction of smart cities is driving the demand for machinery for construction and material handling. As human activities, such as electricity generation and transportation, contribute to the degradation of the environment, cities of the future are being designed to curb environmental degradation by reducing the consumption of electricity.

Moreover, the total cost of ownership of EVs is lower than those running on diesel and gasoline, as electric variants do not have many of the mechanical parts common in conventional powertrains. This makes the maintenance of electric construction and material handling machinery cost-effective. Moreover, electricity is cheaper than diesel, which further reduces the total cost of ownership of EVs.

This is why major European construction and material handling machinery market players are launching electric variants of such machines. For instance, Cargotec Corporation launched eight electric lifting equipment models under the Kalmar Electric Reachstacker brand in December 2021.

Other key companies offering such equipment are LIEBHERR-International Deutschland GmbH, AB Volvo, Caterpillar Inc., Sany Heavy Equipment International Holdings Company Limited, Hitachi Ltd., Komatsu Ltd., J.C. Bamford Excavators Limited, The Manitowoc Company Inc., Xuzhou Construction Machinery Group Co. Ltd., KION Group AG, and CNH Industrial N.V.

Key Findings of Europe Construction and Material Handling Machinery Market Report

Market Dynamics

Trends

Drivers

Restraints

Impact of Covid-19

Porter's Five Forces Analysis

Company Profiles

Definition of Market Segments

Type

Earthmoving Machinery

Concrete and Road Construction Machinery

Tunnelling Machinery

End Use

Customer

Propulsion Type

Business Model of OEMs

Ecosystem of Construction Equipment Industry

Ecosystem Analysis of OEMs

Future Ecosystem of Construction Equipment Industry

For more information about this report visit https://www.researchandmarkets.com/r/v5vjp5

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Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets


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