Chicago, April 26, 2022 (GLOBE NEWSWIRE) — According to the latest research report from Arizton, the Spanish construction equipment market will grow at a CAGR of 7.19% during the period 2022-2028. The increase in infrastructure activities in Spain is expected to drive the demand for construction equipment. In 2021, material handling equipment market accounted for the largest share in Spain.
Scope of the Spain Construction Equipment Market Report
|MARKET SIZE (2028)||$7.1 billion|
|MARKET SIZE (2022)||$4.6 billion|
|MARKET SIZE – VOLUME (2028)||97,658 Units|
|YEAR OF REFERENCE||2021|
|SECTORS COVERED||Type and end users|
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Market trends and drivers
- Investment in water infrastructure will reach $842.7 million over the next few years. Approximately. $102 million will be invested through public entities and public companies.
- IoT for remote monitoring is gaining popularity in the construction industry in both developed and developing countries.
- Environmental infrastructure will benefit from an investment of $174 million to stop water contamination and fight climate change. The Spanish government has planned a total investment of $661 million for the conservation and restoration of marine and terrestrial ecosystems and their biodiversity. Demand for equipment such as excavators, cranes, graders and backhoe loaders is expected to be high for green recovery infrastructure projects in Spain.
- According to the Spanish Ministry of Trade and Industry, FDI inflows to Spain reached $6.6 billion in the first half of 2021. Of these investments, 60.2% were directed to the Madrid region , followed by Catalonia at 19.1%.
- According to the Ministry of Transport and Mobility, in 2021 the Spanish government planned to invest $26.2 billion in rail infrastructure projects and $82 million in water infrastructure investment in Seville.
- In January 2022, the Ministry of Ecological Transition is processing 697 renewable energy projects, including 467 solar parks, 211 wind farms, 2 hydroelectric proposals and 17 hybrid power plants. These growing projects are expected to increase the demand for earthmoving equipment in the renewable energy sector.
- The increase in infrastructure development projects across Spain, such as the Punta Norte residential complex ($220 million), the Palencia-Aguilar de Campoo high-speed rail line, Palencia Norte-Amusco section (114 million), Sinova Wastewater Treatment Plant ($72 million) and Sabinar Photovoltaic Complex 252 MW ($213 million).
- According to the state budget, water quality infrastructure for water confederations and national parks, as an investment of 785.6 million dollars, increased its budget by 11%, with a forecast of $44 million for 2021.
- However, ICEX (Spanish Institute of Foreign Trade) forecasts GDP to grow by 5.5% in 2022 and 3.8% in 2023. Due to the COVID-19 Omicron wave, consumption has contracted . However, investments and exports have increased strongly in 2021. The economy is around 4% smaller in the first quarter of 2022 compared to pre-pandemic levels.
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- Backhoe loaders
- Other Earthmoving Equipment (Other Loaders, Bulldozers, Trenchers)
road construction equipment
- Asphalt pavers
- Forklifts and telehandlers
- Aerial platforms (articulated platforms, telescopic platforms, scissor lifts)
- Market Size and Forecast by Revenue | 2021−2027
- Market Dynamics – Key Trends, Growth Drivers, Restraints and Investment Opportunities
- Market Segmentation – A detailed analysis by type and end users
- Competitive Landscape – 5 key vendors and 7 other significant vendors and 6 distributors are profiled in the report
Spanish construction equipment market leaders have high regional market share, strong distribution networks and wide product diversification.
- Volvo EC
Other Important Suppliers
- zoom lion
- Hitachi construction equipment
- Hyundai construction equipment
- LVP cranes
- ITT Bobcat DE
- AURTENECHE MAQUINARIA
- ON KOMAT MAQUINARIA
Explore our industrial machinery profile to learn more about the industry.
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