DUBLIN–(BUSINESS WIRE)–The “France Construction Equipment Market – Strategic Assessment & Forecast 2023-2029” report has been added to ResearchAndMarkets.com’s offering.
France construction equipment market is expected to grow at a CAGR of 4.91% from 2022-2029.
Key Highlights
- Material handling equipment accounted for the largest share of the France construction equipment market in 2022. Forklifts & Telehandlers in the material handling segment had the largest share in 2022. Rising investment in housing & warehouse expansion projects is expected to drive the demand for forklifts in the market.
- The French government aims to spend USD 8 billion on infrastructure development and renovation projects. Long-term industrial developments will fuel investment. Hence, the government aims to invest USD 94.4 billion in transportation infrastructure development between 2018 and 2037.
- The government also invested USD 28.1 billion in the mega Grand Paris project to connect Paris with ILe-de-France with 200 kilometers of a new metro line. The project aims to link Paris with other major regions through new, extended metro and rail lines.
- Strict government rules to control carbon emissions and exhaustion of their reserves are major factors that lead to a decline in the mining industry.
- In 2017, the French Government passed a law to completely ban fossil fuel extraction in its territories, resulting in decreased mineral production and the closure of several mines across the country. However, the government plans to invest in lithium mining extraction to become self-reliant in manufacturing electric vehicle batteries in 2022.
Market Trends and Drivers
Government Investment for Grand Paris Project & Olympic 2024
The French government is expected to increase the investment in sports facilities to promote sports in the country. In 2022, the government planned to invest USD 200 million to build 5,000 new sports facilities by the start of the Olympic Games in Paris in 2024. The government aims to build 1,000 multi-sports athletic complexes, 500 tennis courts, and 500 basketball courts by 2024.
The investment is also directed to improve public infrastructure facilities and hotels, which are majorly used for accommodating international delegations of athletes & media persons. Further, the government also launched the Grand Paris Express project to upgrade the transit facilities across Paris. The government invested USD 28.1 billion in uniting Paris with ILe-de- France with 200 kilometers of the new metro line in 2022.
Rise In Infrastructure & Public Transit Projects
In 2023, the French government announced a new effort to invest in transport infrastructure to develop alternatives to the road and promote smooth mobility. The government planned to invest USD 108.1 billion to develop railways by 2040 in 2023. In 2022, the government aimed to invest USD 7 billion for the next ten years to develop 9,000 kilometers of small railways line. In addition, USD 4.8 billion will be allocated for maintaining and modernizing public transport, such as metros & trams, in 2022.
Renovation of Thermal Insulation In Buildings
Residential buildings in France are responsible for 36% of carbon emissions. Therefore, the government planned to phase out fossil fuels and build zero-energy buildings in 2021. Zero-energy buildings use renewable energy resources for their energy requirements. According to the French residential industry data, nearly 55% of French’s current residential buildings were built before 1975. The rise of building renovation projects to reduce carbon emissions is expected to trigger the demand for compact and electric construction equipment in the France construction equipment market.
Surge In Demand for Demolition Excavators
The French government is investing in renovation and rebuilding projects nationwide in 2023. Several aged infrastructures are demolished for renovation purposes which prompts the use of demolition excavators in the France construction equipment market. Crawler excavators having higher durability are used for demolition. High-durable equipment can withstand demolition projects.
Industry Restraints
Rising Building Material Prices
The building materials price witnessed sharp growth in Q4 2021. A surge in building material prices continued in 2022, resulting in an 18% rise in prices of materials such as iron, steel, cement & bricks in the French market. The rise in prices is due to growing inflation & surge in transport costs. The ongoing war between Russia and Ukraine disrupts the raw material supply, further worsening the France construction equipment market. The increase in materials prices hampers the region’s real estate industry. Growing prices make it difficult for construction companies to meet projected construction deadlines for new buildings.
KEY QUESTIONS ANSWERED:
1. How big is the France construction equipment market?
2. What is the growth rate of the France construction equipment market?
3. Who are the key players in the France construction equipment market?
4. What are the trends in the France construction equipment market?
5. Which are the major distributor companies in the France construction equipment market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2022 – 2029 |
| Estimated Market Value in 2022 | 57392 Units |
| Forecasted Market Value by 2029 | 80292 Units |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | France |
Prominent Vendors
- Caterpillar
- Komatsu
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- Liebherr
- Volvo Construction Equipment
- Hitachi Construction Machinery
- JCB
- SANY
- Kobelco
- Hyundai Construction Equipment
Other Prominent Vendors
- Yanmar
- Konecranes
- Wacker Neuson
- Bell Equipment
- MERLO Group
- Magni TH
- Takeuchi
- Toyota Material Handling
- Manitou
- BOMAG
- Kubota
- Mecalac
Distributor Profiles
- M3
- Aprolis
- Avlo group
- COBEMAT
- Mini BTP
- Ludimat
- SODINEG France
- Blanchard BTP
- Bouchard Manutention
For more information about this report visit https://www.researchandmarkets.com/r/w153mx
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