Market Forecast By Countries (Germany, United Kingdom, France, Italy, Russia, Spain, Rest Of Europe), By Product (Excavators, Loaders, Dump Trucks, Others), By Application (Construction, Mining, Agriculture & Forestry, Others) And Competitive Landscape
According to 6Wresearch, Europe Earthmoving Equipment Market size is anticipated to witness growth during 2021-2027. The Earthmoving Equipment market is registering a rising trend of adopting multifunctional equipment to cater to a broad range of applications on construction and mining sites. In response to the increasing demand, manufacturers are launching new models of earthmoving equipment along with multiple functionalities. Technological advancements in the field of remote monitoring and telematics are some of the major aspects boosting the earthmoving equipment demand. The earthmoving equipment market is witnessing a slowdown due to the ongoing coronavirus pandemic. The construction & mining industry is undergoing a major setback due to several aspects like shortage of labor and capital. The regional government authorities are switching their focus from large construction projects to mitigating the pandemic situation. For instance, the UK government announced a delay in the completion of the London Cross rail project due to insufficient funds. The rising financial insecurities amid large construction companies are also impacting the market size.
Key Highlights of the Report:
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