France Construction Equipment Market Trends 2023- Industry Share, Revenue, CAGR Status, Growth Drivers, Business Challenges and Future Competition till 2033: SPER Market Research
Buildings, scaffolding, machinery, supplies, tools, materials, and systems owned, rented, or leased by the Contractor, its Subcontractors, or Sub-subcontractors for use in completing the Work but not intended for inclusion in the Project are all considered construction equipment.
According to SPER market research, ‘France Construction Equipment Market Size- By Drive Type, By Equipment Type – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the France Construction Machinery Market is predicted to reach USD 22.35 Billion by 2033 with a CAGR of 6.8%.
The growth of the French construction market is driven by increased government spending on infrastructure projects, augmented foreign direct investments, and enhancements to the nation’s road transport network due to urbanization and population growth. This surge in infrastructure development also leads to a heightened demand for construction equipment. Notably, urbanization contributes to increased traffic in major cities, prompting the government to prioritize road infrastructure improvement. As a result, there is a significant need for construction equipment nationwide. Anticipated government initiatives for infrastructure development are poised to further boost demand for construction equipment in France in the coming years.
However, the high costs of equipment replacement and maintenance present the French construction equipment market with serious issues. Wear and tear are caused by continuous operation and the necessity to support enormous weights, which calls for regular inspections and possible replacements. Both construction companies and rental enterprises are burdened by these increasing operational costs. Furthermore, lower costs lead to a decline in the production of steel and raw materials, which negatively impacts market demand. Furthermore, the real estate industry’s difficulties with a lack of building materials impede construction enterprises even more, which reduces the possibility for market expansion.
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Impact of COVID-19 on France Construction Equipment Market
Construction equipment sales in France were greatly influenced by the COVID-19 outbreak. Delays and cancellations of projects resulted from strict lockdown protocols and supply chain disruptions that interrupted construction efforts. Further impeding market growth were doubts about the potential for the economy to recover and a decline in funding for infrastructure projects. Nonetheless, the market for construction equipment gradually recovered as limitations relaxed and business operations picked back up. Notwithstanding persistent obstacles, there were nonetheless some prospects for market revival because to the government’s stimulus plans and the heightened focus on infrastructure construction.
France Construction Equipment Market Key Players:
Additionally, some of the market key players are Caterpillar, Hitachi Construction Machinery, Hyundai Construction Equipment, JCB, Kobelco, Yanmar, Others.
France Construction Machinery Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Drive Type: Based on the Drive Type, France Construction Equipment Market is segmented as; Electric/Hybrid, Hydraulic.
By Equipment Type: Based on the Equipment Type, France Construction Equipment Market is segmented as; Earthmoving Equipment (Backhoe Loaders, Excavators, Motor Graders, Other Earthmoving Equipment), Road Construction (Road Rollers, Asphalt Pavers), Material Handling (Cranes, Forklift & Telescopic Handlers, Other Material Handling Equipment), Other Construction Equipment (Concrete Pump Trucks, Dumpers, Tippers).
By Region: This research also includes data for Central Region, Eastern Region, Northern Region, Southern Region, Western Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
France Construction Machinery Market Future Outlook
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