Construction Equipment Aftermarket 2023-2032, Size Report Analysis

Construction Equipment Aftermarket Analysis

Construction equipment aftermarket valuation from material handling & cranes reached over USD 5 billion in 2022. A strategic rise in modern infrastructure projects and urban development activities has fuelled the adoption of cranes and material handling systems, accelerating the demand for spare parts such as valves, slewing motors, role wires, and hydraulic cylinders. Recent technological breakthroughs and advancements have made way for superior mobile crane models featuring improved loading capacity and multi-activity capabilities. For example, in January 2022, Liebherr extended the portfolio of its all-terrain cranes with the new LTM 1300-6.3 mobile crane featuring a 90-meter telescopic boom.
 

Europe is estimated to account for nearly 25% aftermarket share of the construction equipment by 2032. Increasing focus on climate change, pollution, and greenhouse gas emissions has led to the deployment of strict regulations on emissions for mobile machinery. Several regional players are scaling up efforts to introduce advanced construction equipment and spare parts to ensure the fuel efficiency of diesel engines and compliance with government guidelines. Moreover, the advent of electric construction equipment across the continent will augment the market progression.
 

Europe is estimated to account for nearly 25% aftermarket share of the construction equipment by 2032. Increasing focus on climate change, pollution, and greenhouse gas emissions has led to the deployment of strict regulations on emissions for mobile machinery. Several regional players are scaling up efforts to introduce advanced construction equipment and spare parts to ensure the fuel efficiency of diesel engines and compliance with government guidelines. Moreover, the advent of electric construction equipment across the continent will augment the market progression.