CHICAGO, May 2, 2024 /PRNewswire/ -- According to Arizton's latest research report, the Benelux construction equipment market is growing at a CAGR of 3.10% during 2023-2029.
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Benelux Construction Equipment Market Report Scope
Report Attributes | Details |
Market Size (2029) | 86,455 Units |
Market Size (2023) | 71,995 Units |
CAGR (2023-2029) | 3.10 % |
Market Size- Revenue (2029) | USD 5.55 Billion |
Historic Year | 2020-2022 |
Base Year | 2023 |
Forecast Year | 2024-2029 |
The e-commerce industry of Benelux witnessed growth in 2022. The industry grew in 2023 due to changing customer buying patterns post-pandemic. The e-commerce industry's good performance supports the region's warehouse & logistics industry growth. Governments are investing in various construction projects in the Benelux region (Belgium, the Netherlands, and Luxembourg). Some major projects include the Oosterweel link, the expansion of the Belgian railway network, and the renovation of buildings in Wallonia, Flanders, and Brussels. Governments are also focusing on mining projects in Belgium and the Netherlands. Benelux countries are primarily investing in the mining of tin, nickel, cobalt, and bauxite in response to the rise in the global demand for electric construction equipment. Investments in construction and mining projects across Benelux countries are expected to drive the demand for earthmoving equipment.
Increased Investment in Public Infrastructure Projects Uplifting the Market Opportunities
Further contributing to construction activity, the ongoing Crossover project near the A10 Zuid exit and Europa Boulevard is slated for completion by 2024, forecasted to spur demand for backhoe loaders in the Netherlands. This development promises residential and employment opportunities along with commercial amenities.
Benelux Construction Equipment Market Dynamics
Drivers
Trends
Challenges
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Key Vendors
Other Prominent Vendors
Distributor Profiles
Segmentation by Type
Segmentation by Regions
Key Questions Answered in the Report:
How big is the Benelux construction equipment market?
Who are the key players in the Benelux construction equipment market?
Which are the major distributor companies in the Benelux construction equipment market?
What are the trends in the Benelux construction equipment industry?
What is the growth rate of the Benelux construction equipment market?
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