The global financial crisis, itsfallout, and the recent COVID-19 pandemic have all caused atypical patterns in globalequipment sales. At its most recent peak in 2021, more than 1.2 million (Source:Off-Highway Research) machines were sold worldwide – a record total – comparedwith just 600,000 units sold at the bottom of the global financial crisis in2009. Traditionally, around 75 per cent of all equipment demand came fromdeveloped countries. But, since the late 2000s, developed markets have only accountedfor 40-50 percent of global equipment sales, while emerging economies, likeChina and India, represent 50-60 percent.

Over the last two decades, therising demand from developing countries has driven global equipment sales. Althoughthe trend in the construction equipment industry over the last decade has beenfor increased globalization and reduced localization, recent geopoliticaltensions and the strains of the pandemic years have begun to de-globalizeproduction in a range of industries worldwide. Off-Highway Research and RolandBerger’s new study highlights the continuity of this trend in the constructionequipment industry.

Longer term, however, there is aclear growth trend in construction equipment demand. A growing global populationcontinues to require more housing and infrastructure, both of which are fundamentaldrivers of construction equipment sales.

With bC India 2023 just aroundthe corner, many domestic and international construction and mining equipmentmanufacturers will be vying with each other to make a mark in the minds ofpotential customers. They would try and outdo the other for a share of the pie.

As we approach the inaugurationdate, we are just as eager to see what is in store at the exhibition. We willkeep you posted on new launches and emerging trends in the CE market goingforward.