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The Spain Construction Equipment Market is expected to grow at a CAGR of 7.19% during 2022-2028.
KEY HIGHLIGHTS IN THE REPORT
- Spain is the largest market for Forklift in the world; the equipment is extremely flexible, cheaper, and can be used to lift and move various materials over short distances, which makes it extremely popular in the Spain construction market.
- Various civil engineering works and residential projects prompt demand for telematics in excavators in the market. The real estate and affordable housing projects support the demand for large tower cranes in Spain.
- The infrastructure investment in 2021 will drive the construction industry's growth. The government's focus on renewable energy resources for power generation is attracting major FDI inflows in 2021.
- As per January 2022, the Ecological Transition Ministry is processing 697 renewable energy projects, including 467 solar parks, 211 wind farms, 2 hydro-electric proposals and 17 hybrid plants. These increasing projects are expected to increase the demand for earthmoving equipment in the renewable energy sector.
- The surge in infrastructure development projects across Spain such as Punta Norte Residential Complex ($220 million), Palencia-Aguilar de Campoo High-Speed Railway Line Palencia Norte-Amusco section ($114 million), Sinova Wastewater Treatment Plant ($72 million) and Sabinar Photovoltaic Complex 252 MW ($213 million). The Hydraulic infrastructures had an investment of $740.1 million in 2021, to which $102.5 million will be added in 2022, which will be invested through public entities and state-owned companies.
- As per the State Budget contemplates, the water quality infrastructure for the Hydrographic Confederations and National Parks as an investment of $785.6 million had increased its budget by 11%, with a forecast of $44 million for 2021.
SPAIN CONSTRUCTION EQUIPMENT MARKET SEGMENTATION
- The Material Handling segment is the largest in Spain construction equipment market, followed by earthmoving and road construction equipment. Forklifts and Excavators have been the fast-growing segments. The demand for excavators and forklifts is expected to rise due to various government investments in infrastructure development, growth in renewable energy, and the country's construction industries.
Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Others loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Application
- Construction
- Manufacturing
- Mining
- Others
VENDOR LANDSCAPE
Komatsu, Caterpillar, Kubota, Hitachi construction equipment and Volvo Construction Equipment are market leaders which accounted for nearly ~33% of overall construction equipment market share in 2021.
Key Vendors
- Caterpillar
- Volvo CE
- Komatsu
- Liebherr
- Kubota
Other Prominent Vendors
- XCMG
- SANY
- JCB
- Kobelco
- Zoomlion
- Hitachi Construction equipment
- Hyundai construction equipment
Distributors
- LVP Cranes
- Centrocar
- ITT Bobcat OF
- AURTENECHE MAQUINARIA
- SUR KOMAT MAQUINARIA
- Finanzauto
Table of Contents
Companies Mentioned
- Caterpillar
- Volvo CE
- Komatsu
- Liebherr
- Kubota
- XCMG
- SANY
- JCB
- Kobelco
- Zoomlion
- Hitachi Construction equipment
- Hyundai construction equipment
- LVP Cranes
- Centrocar
- ITT Bobcat OF
- AURTENECHE MAQUINARIA
- SUR KOMAT MAQUINARIA
- Finanzauto
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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