Public Works Machinery Market

The article provides detailed insights into the global market for machinery for public works and building. It predicts a positive trend in consumption, production, imports, and exports over the next eight years. Key findings include increases in market volume and value, as well as fluctuations in trends over the past decade. The top consuming, producing, importing, and exporting countries are highlighted, along with growth rates and price trends. Overall, the article offers a comprehensive analysis of the machinery market in the public works and building sector.

Market Forecast

Driven by increasing demand for machinery for public works and building worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $13B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machinery For Public Works And Building

In 2022, approx. 1.3M units of machinery for public works and building were consumed worldwide; surging by 5.9% on the previous year's figure. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +88.4% against 2015 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

The global public works machinery market revenue stood at $10.2B in 2022, with an increase of 2.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.5% against 2019 indices. As a result, consumption reached the peak level of $11.1B. From 2020 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (283K units), the United States (184K units) and China (175K units), with a combined 50% share of global consumption. Canada, Italy, Japan, Singapore, Pakistan, Brazil, Russia, Germany and Thailand lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +28.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest public works machinery markets worldwide were China ($2.1B), India ($1.1B) and Japan ($1B), with a combined 41% share of the global market. Italy, the United States, Germany, Russia, Canada, Pakistan, Thailand, Singapore and Brazil lagged somewhat behind, together accounting for a further 22%.

In terms of the main consuming countries, Italy, with a CAGR of +142.7%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of public works machinery per capita consumption was registered in Singapore (6,625 units per million persons), followed by Canada (1,942 units per million persons), Italy (756 units per million persons) and the United States (547 units per million persons), while the world average per capita consumption of public works machinery was estimated at 163 units per million persons.

In Singapore, public works machinery per capita consumption increased at an average annual rate of +27.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (+15.2% per year) and Italy (+13.9% per year).

Production

World Production of Machinery For Public Works And Building

In 2022, approx. 931K units of machinery for public works and building were produced worldwide; shrinking by -4.5% compared with the previous year. In general, the total production indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.8% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 63%. As a result, production attained the peak volume of 1.1M units. From 2020 to 2022, global production growth remained at a lower figure.

In value terms, public works machinery production shrank modestly to $9.8B in 2022 estimated in export price. Overall, production recorded a slight decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $14.5B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were India (295K units), China (192K units) and Germany (100K units), together comprising 63% of global production. Italy, Japan, Australia and Pakistan lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Australia (with a CAGR of +32.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Machinery For Public Works And Building

In 2022, approx. 642K units of machinery for public works and building were imported worldwide; jumping by 28% on 2021. Overall, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, public works machinery imports declined to $2.6B in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Global imports peaked at $3.1B in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States represented the main importer of machinery for public works and building in the world, with the volume of imports reaching 195K units, which was approx. 30% of total imports in 2022. Canada (77K units) ranks second in terms of the total imports with a 12% share, followed by Singapore (7%). India (28K units), Thailand (20K units), France (20K units), Brazil (19K units), South Africa (16K units), Russia (13K units), Malaysia (13K units), the UK (12K units), Australia (11K units) and Indonesia (10K units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to public works machinery imports into the United States stood at +15.2%. At the same time, India (+44.9%), South Africa (+18.3%), Singapore (+17.6%), Canada (+16.2%), Malaysia (+16.2%), Indonesia (+13.2%), the UK (+12.3%), France (+9.6%), Australia (+4.2%) and Thailand (+2.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +44.9% from 2012-2022. By contrast, Brazil (-1.3%) and Russia (-4.7%) illustrated a downward trend over the same period. While the share of the United States (+12 p.p.), Canada (+5.3 p.p.), India (+4 p.p.), Singapore (+3.6 p.p.) and France (+3 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Thailand (-3.2 p.p.), Brazil (-5.5 p.p.) and Russia (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($485M), France ($266M) and the UK ($131M) constituted the countries with the highest levels of imports in 2022, with a combined 33% share of global imports.

Among the main importing countries, the United States, with a CAGR of +11.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average public works machinery import price stood at $4,108 per unit in 2022, shrinking by -27.3% against the previous year. Overall, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 40% against the previous year. Global import price peaked at $9,142 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($13,666 per unit), while Singapore ($182 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+0.2%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Machinery For Public Works And Building

Global public works machinery exports rose remarkably to 290K units in 2022, surging by 9.9% on the previous year. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 49%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, public works machinery exports reduced modestly to $3.1B in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 22%. Over the period under review, the global exports attained the maximum at $3.1B in 2018; afterwards, it flattened through to 2022.

Exports By Country

In 2022, Germany (86K units), distantly followed by Australia (47K units), India (40K units), the United States (20K units) and China (19K units) represented the key exporters of machinery for public works and building, together constituting 73% of total exports. The following exporters - Italy (13K units), the Netherlands (9.9K units), Singapore (6.5K units) and Spain (6.1K units) - together made up 12% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +21.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1.5B) remains the largest public works machinery supplier worldwide, comprising 49% of global exports. The second position in the ranking was held by China ($295M), with a 9.5% share of global exports. It was followed by the United States, with an 8.9% share.

In Germany, public works machinery exports increased at an average annual rate of +2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+8.1% per year) and the United States (-3.8% per year).

Export Prices By Country

In 2022, the average public works machinery export price amounted to $10,706 per unit, dropping by -9.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices hit record highs at $16,631 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($17,608 per unit), while India ($319 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.6%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform