Italy Construction Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Italy Construction Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Italy's construction equipment market was valued at USD 3,174.23 million in the current year and is expected to reach USD 4,437.55 million by the next five years, registering a CAGR of 5.79% in terms of revenue during the forecast period.

Key Highlights

• Over the long term, the increase in construction activity is expected to drive demand for construction equipment. Government programs such as stimulus packages and lower housing costs that encouraged people to buy new homes are expected to drive market expansion during the forecast period.
• The demand for cost-effective machines, combined with regulatory pressures for lower emissions, is pressuring construction equipment manufacturers to choose electric and hybrid vehicles over traditional hydraulic and mechanical vehicles, which in turn is anticipated to boost the demand for construction equipment across the country during the forecast period.
• To address major issues such as traffic congestion, population growth, high manufacturing costs, and aging transportation infrastructure, the government is investing heavily in infrastructure development. To improve their current infrastructure, developed economies are investing in technologies such as earthquake-proof buildings, hyperloops, and so on. This is likely to witness major growth for the market during the forecast period.

Italy Construction Equipment Market Trends

Electrification Of Construction Equipment May Propel The Market Growth

• In recent years, Italy has made significant investments in infrastructure developments to promote economic growth and job prospects, as well as to update its energy, telecommunication, and transportation networks. A construction boom has been caused by investment, and new infrastructure projects are frequently announced. For instance,
• In the 2021 budget, the Italy government has announced infrastructure projects worth over Euro 3 billion (USD 3.21 billion), including six rail infrastructure projects, three road infrastructures, two port infrastructures, two transport building works, five railway stations, one water project, one port project and one project linked to rapid mass transport.
• In September 2022, a recent study by Italy's state-owned export credit agency, SACE, projected that over the next ten years, the entire investment in Italy's infrastructure will amount to nearly Euros 100 billion (USD 107.08 billion).
• The high-speed rail system in Italy is one of the most significant infrastructure development initiatives. The government has announced significant investments in the development of the high-speed rail network, building new lines and modernizing old ones.
• Major cities and areas will be connected by the new high-speed lines, which will enhance transportation and shorten travel times. By facilitating travel across the nation, the additional lines will also aid in the expansion of the tourism sector. For instance, in May 2022, FS Italiane, Italy's national state-owned railway holding company, presented its industrial plan for the coming decade (2022-2031) and announced that 110 billion Euros (USD 117.79 billion) would be invested in Italian rail infrastructure over the coming ten years.
• As the government continues to make significant investments in infrastructure expansion to support economic growth, Italy is enjoying a construction boom. The improvement of transportation, the reduction of traffic congestion, the support of the expansion of the tourism industry, the attraction of new businesses, and the transition to a net-zero carbon economy are anticipated to fuel the country's growth.

Rise in Construction Development Across the Italy

• In recent years, Italy has made significant investments in infrastructure developments to promote economic growth and job prospects, as well as to update its energy, telecommunication, and transportation networks. A construction boom has been caused by investment, and new infrastructure projects are frequently announced. For instance,
• In the 2021 budget, the Italy government has announced infrastructure projects worth over Euro 3 billion (USD 3.21 billion), including six rail infrastructure projects, three road infrastructures, two port infrastructures, two transport building works, five railway stations, one water project, one port project and one project linked to rapid mass transport.
• In September 2022, a recent study by Italy's state-owned export credit agency, SACE, projected that over the next ten years, the entire investment in Italy's infrastructure will amount to nearly Euros 100 billion (USD 107.08 billion).
• The high-speed rail system in Italy is one of the most significant infrastructure development initiatives. The government has announced significant investments in the development of the high-speed rail network, building new lines and modernizing old ones.
• Major cities and areas will be connected by the new high-speed lines, which will enhance transportation and shorten travel times. By facilitating travel across the nation, the additional lines will also aid in the expansion of the tourism sector. For instance, in May 2022, FS Italiane, Italy's national state-owned railway holding company, presented its industrial plan for the coming decade (2022-2031) and announced that 110 billion Euros (USD 117.79 billion) would be invested in Italian rail infrastructure over the coming ten years.
• As the government continues to make significant investments in infrastructure expansion to support economic growth, Italy is enjoying a construction boom. The improvement of transportation, the reduction of traffic congestion, the support of the expansion of the tourism industry, the attraction of new businesses, and the transition to a net-zero carbon economy are anticipated to fuel the country's growth.

Italy Construction Equipment Industry Overview

Italy's Construction Equipment Market is currently dominated by several key players, including industry giants such as Caterpillar Inc., Liebherr Group, AB Volvo, and other notable competitors. These key players are actively engaged in launching innovative products to solidify their market presence and maintain a competitive edge. These strategic moves are expected to drive increased demand for construction equipment in the foreseeable future.

For instance, in May 2023, Bobcat made a significant stride in the Italian construction equipment market by introducing its latest innovation, the T86 compact tracked loader. This cutting-edge compact loader boasts superior engine and hydraulic power, setting it apart from its predecessors. It is equipped with a robust 3.4-liter Bobcat Stage V engine that delivers an impressive 78 kW (105 HP) of power, making it a formidable addition to the market.

Additionally, in March 2023, Doosan Group made a notable contribution to the Italian construction equipment sector with the launch of the Doosan DX20ZE, a two-tonne electric mini-excavator. This innovative mini-excavator is tailored to meet the growing demand for environmentally friendly construction solutions. Its introduction underscores the industry's commitment to sustainable practices and provides customers in Italy with a greener alternative for their construction needs.

These developments showcase the dynamic nature of Italy's Construction Equipment Market, with key players constantly striving to deliver advanced solutions that cater to evolving industry requirements. As the market continues to evolve, these initiatives are expected to fuel further growth and innovation in the construction equipment sector.

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