Chicago, June 24, 2022 (GLOBE NEWSWIRE) – According to Arizton’s latest research report, the Swedish construction market grows with a CAGR of 4.38% from 2022 to 2027. Investments in transportation and infrastructure, an increase in demand for minerals and the Government’s investments in wind power projects for Becoming a carbon dioxide-free economy is the most important driving force in the Swedish market for construction machinery.
Sweden Construction Machinery Scope of the market report
|MARKET SIZE (2028)||$ 1.9 billion|
|MARKET SIZE (2021)||$ 1.4 billion|
|MARKET SIZE – VOLUME (2028)||35,023 units|
|TYPE||Earthmoving equipment, road construction equipment and material handling equipment|
|END USER||Design, manufacturing, mining and more|
|KEY SUPPLIERS||Volvo Construction Equipment, Caterpillar, Hitachi Construction Machinery, Komatsu, Liebherr, Kubota, JCB, Hyundai Construction Equipment and Kobelco|
Click here to download the free trial report
- The Swedish economy has made a strong recovery from a 2.9% decline in 2020 to a growth of 4.8% in 2021. According to the Swedish government, the economy is expected to grow by 3.1% in 2022.
- In 2021, the Swedish government’s national transport development plan allocated $ 86.9 billion in funding for 12 years. The plan also includes investments of $ 71.2 billion for new construction, renovation and modernization of existing infrastructure. The government also planned to triple mine production by 2025.
- In 2021, the government has eased the standards for foreign investment in the construction, transport and renewable energy sectors. Sweden has a strong and successful manufacturing / industrial technology sector that accounts for approximately 20% of the country’s GDP. The service and manufacturing industries accounted for more than 50% of the inflow of foreign direct investment in 2021.
- In Sweden large infrastructure projects such as Stockholm Arlanda Airport ($ 200 million), North Botnia railway ($ 2.9 billion), the double track between Ängelholm & Helsingborgsregionen ($ 200 million), Olskroken Project ($ 400 million), Onshore Wind Farm Markbygden Vind AB, Förbifartsprojektet Stockholm ( $ 3.7 billion), and motorway construction between the Ronneby East and Nattraby intersections will take place in 2022.
- In 2021, the government proposed under the transport development plan to maintain, expand and develop the Swedish transport infrastructure over the next twelve years with an investment of 89.6 billion dollars. According to Rental Company DKLBC (Danderyd-Kedjan Lastbilcentalen) CEO Per Geber, the rental business for construction machinery is growing by ~ 40% in Sweden.
- In 2021, Sweden aimed to produce 100% of electricity production with renewable energy resources by 2040. Sweden’s wind power capacity was 12.8 GW by 2020, and the wind power sector’s capacity increased by 2.7 GW in 2021 after the addition of new wind power generation facilities. The government aims for 17 GW of accumulated installed wind power by 2024.
- Volvo Construction Equipment, Caterpillar, Hitachi Construction Equipment, Komatsu, Liebherr, Kubota, JCB, Hyundai Construction Equipment and Kobelco are prominent suppliers that account for a large share of the Swedish construction machinery market. Other prominent suppliers are Liu Gong, Yanmar, Case Construction Equipment & Terex Corporation.
- Volvo Construction Equipment, Caterpillar, Kubota, Komatsu & Liebherr are market leaders, accounting for almost ~ 54% of the total market share for construction machinery in 2021.
- Earthmoving equipment:
- Backhoe loaders
- Other excavation equipment (other loaders, bulldozers, excavators)
- Road construction equipment
- Road Rollers
- Asphalt pavers
- Material handling equipment
- Forklifts and telescopic handlers
- Aerial platforms (articulated boom lifts, telescopic boom lifts, scissor lifts)
Material handling equipment is used in the construction, manufacturing, cargo handling and mining industries. The increased urbanization, including the construction of airports, metro lines, roads and motorways, is expected to support the high demand for material handling equipment. Investments in infrastructure, manufacturing and goods handling industries in Sweden had grown in 2021. In the same way, growth in the manufacturing and cargo handling industry is expected to strengthen the materials handling market in Sweden. Material handling accounted for 84.5% of the Swedish market for road construction equipment in 2021.
- Volvo Construction Equipment
- Hitachi construction machinery
- Hyundai plant equipment
Other prominent suppliers
- Terex Corporation
- Yanmar manufactures
- CASE Construction Equipment
- ABL Construction Equipment
- HAULOTTE SCANDINAVIA
- RF-System AB
Explore our industrial machine profile to learn more about the industry.
Click here to download the free trial report
Read some of the best-selling reports:
Arizton Advisory and Intelligence is an innovation and quality-driven company that offers cutting-edge research solutions to customers all over the world. We excel in providing comprehensive market information reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods and retail technology, vehicles and mobility, smart technology, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth factors and trend forecasts.
Arizton consists of a team of exuberant and well-experienced analysts who have mastered generating sharp reports. Our specialist analysts have exemplary expertise in market research. We train our team in advanced research methods, techniques and ethics to excel when it comes to producing impenetrable research reports.
Click here to contact us
Call: + 1-312-235-2040
+1 302 469 0707