While we are the North America Heavy Equipment Training Services (NAHETS), some of the companies we work with have an international presence. With that in mind—and also because it is always important to be aware of trends across the globe—today we write about the European construction heavy equipment market.
According to researchandmarkets.com, the construction heavy equipment market in Europe will grow at a compound annual growth rate (CAGR) of about 1.25% from 2014-2018. One of the key factors, among others, contributing to this market growth is increasing public infrastructure projects. The rapid growth of the Eastern European region was cited as one of the areas where the building of public infrastructure will be important.
“Though many organizations across the industry prefer to have the latest construction equipment technology to improve their productivity, some SMEs find it difficult to buy such equipment due to the high cost,” wrote one of the analysts who compiled the report. “The increasing competition among vendors is also forcing vendors to differentiate themselves by providing innovative value-added services. Therefore, construction equipment vendors are offering construction equipment such as excavators, wheel loaders, motor graders, crawler cranes, truck cranes, and truck-mounted cranes on a rental basis. This allows cost-driven organizations in developing countries to opt for the latest construction equipment at minimal cost, thereby improving their operational productivity. Thus, the option of renting encourages customers to use a wide range of construction equipment. ”
The key vendors in the report include; AB Volvo, Caterpillar Inc., JC Bamford Excavator Ltd., and Komatsu Ltd., which are some of the largest companies in the world. Other companies mentioned in the report are Doosan Group, Hitachi Construction Machinery Co. Ltd., Larsen & Toubro Ltd., Liebherr Group, Liugong Machinery Co., Terex Corp. and Zoomlion Heavy Industry Science and Technology Co.
As a reminder, whether you are renting or buying, it is still vitally important to have the best training for your team possible. NAHETS is a specialized resource organization dedicated to the training and certification of heavy equipment and crane operators ensuring that your construction site is productive and your crew is skilled. On the construction jobsite, productivity and safety depend on trained, qualified workers, particularly in the operation of heavy equipment such as backhoes, bulldozers, excavators and cranes.
Please call us today to get started with a custom training program or to learn about our Trainer Toolkits. Thanks for reading.