NEW REALITY: CONSTRUCTION MACHINERY GLOBAL TRENDS
2020, the COVID-19 pandemic affected all sectors of the economy, including the construction equipment industry. Industry statistics from most countries showed
a decrease in the number of international transactions caused by weakening
economic conditions and the instability of currencies against the US dollar. Even
in developed countries sales of construction equipment decreased by 5-20%.
crisis has passed, and today, in 2022, we are witnessing an economic recovery.
The first trends we spotted were population growth and an increase in demand
for housing. These trends stimulated a significant increase in demand for construction
equipment. The rapid recovery of the mining, energy and forestry industries
contributed to this process as well. As a result, the construction equipment industry
is experiencing a shortage of raw materials and qualified workers. This has led
to an increase in prices for finished products.
second trend is the global "greening" of the industry – many
companies, including WEITAI, have focused on the development and production of environmentally friendly machines. The result of these efforts is a variety of next
generation fully electric earthmoving equipment that produces minimal or even
zero emissions entering the market this year.
third trend is the migration of major industry events, including international
conferences and exhibitions, to online or hybrid formats. Due to COVID-19
related travel restrictions and social distancing requirements, we have learned
how to use digital tools for effective remote communication. The heavy machinery industry has developed
innovative events for product launches, panel discussions, and webinars.
also noticed that the demand for some models of compact machines has increased
markedly. For example, in 2021, around 75,000 mini excavators were sold in
Europe alone. The ‘hottest’ category was 1-5 metric ton equipment. The largest
markets were Italy, the Netherlands and France.
are feeling optimistic about the future of the construction equipment industry
and are looking forward to contributing to its healthy growth and development
by designing and manufacturing cost-effective and environmentally friendly
WEITAI Marketing Department