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UK Earthmoving Equipment Market Data & Forecast to 2014
World Market Intelligence, April 2011, Pages: 17
The UK produces more earth moving equipment than any other European country. Furthermore, earth moving equipment has the second largest share of market value of any category in the UK construction equipment market. However, due to the decreased demand for earth moving equipment in the UK because of poor financial conditions and fewer construction projects in the second half of 2008 and in 2009, the category recorded a CARC of -14.20% during the review period, and -44.90% in 2009 alone. Specifically, backhoes, the largest contributor to the category market value, witnessed a decline of 57.1% in 2009.
In addition, imports of earth moving equipment also declined by 53.3%, resulting in a sharp fall in the total consumption value of earth moving equipment. However, WMI expects the market value of the earthmoving equipment market to increase over the forecast period, due to the improving economic environment and upcoming UK infrastructure construction projects.
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