Asia-Pacific represents the largest and fastest earthmoving equipment market

Press Release   •   Aug 22, 2012 10:06 BST

Globally, the Asia-Pacific region represents the largest and fastest growing earthmoving equipment market, representing a 51.4% share of global value.

Robust growth throughout this region has offset decline in the world's other two significant markets, North America and Europe, which recorded CAGR's of -10.69% and -8.28% over the review period. The global economic crisis was one of the main factors behind this steep industry reduction.

Surprisingly, South America represented the second fastest growing earthmoving equipment market across the globe, with a review period CAGR of 13.86%.

This growth has been fuelled by the implementation of a political and economic plan known as "Democratic Security", in Colombia, alongside a US$285.4 billion (BRL500.8 billion) investment allocation by the Brazilian federal government for infrastructure development under the Programade Aceleraçãodo Crescimento (PAC) earthmoving equipment

Over the four year review period (2006-2010), the value of the global earthmoving equipment market increased at a compound annual growth rate (CAGR) of 1.13%.

Construction activities increased in most countries by 2010, a trend which is anticipated to continue over 2011. Across this time period, the global earthmoving equipment market was forecast to record positive growth and increase at a CAGR of 9.26%.

Loaders, the largest sector in the global earthmoving equipment market, achieved a CAGR of 2.28% during the review period, increasing their market share from 36.5% in 2006 to 38.2% in 2010.

On the other hand, construction tractors, the smallest sector, recorded a negative CAGR of -1.97% during the review period, observing a market share contraction of 29.6% in 2006 to 26.1% in 2010.

For more information on the global earthmoving equipment market, see the latest research: Global Earthmoving Equipment Market Report

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