The European construction equipment market is in rude health, according to the latest findings from the continent’s trade association representative.
The Committee for European Construction Equipment (CECE) has revealed its Annual Economic Report that the European market continued to grow in 2017. Following a strong start to the year, growth slowed in the subsequent quarter, before picking up again in Q3 and Q4, leading to an overall 15% rise in sales of construction equipment for the 12-month period.
While the results are still below the 2007 peak by 20%, the current levels are on par with that seen in 2006 and 2008, while the troubled markets in Southern, Central and Eastern Europe showed above average growth – meaning the north-south disparity on the continent is becoming less pronounced.
“It came as a relief to see that the recovery of Italy and Spain continues and even gains momentum”, explained Sebastian Popp, economic expert at CECE. “Even though Southern Europe is still on a comparably low level, it is important to note that the gap between north and south is getting smaller.”
The ongoing recovery of Europe’s construction industry, improved business in the mining and quarrying sectors, and a favorable economic environment with low interest rates further stimulated investments.”
March 23, 2018