DUBLIN--(BUSINESS WIRE)--The "France Used Construction Equipment Market - Strategic Assessment & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The France used construction equipment market was estimated at 17,588 units in 2021 and expected to reach 16,670 units by 2028, growing at a CAGR of 2.63%.
Rising government investment in the upgradation of public transport and infrastructure due to the upcoming Olympic 2024 is expected to drive the demand for used construction equipment. Government Investment in Infrastructure Projects & Supply Chain Disruptions of New Equipment Support Used Construction Equipment Market.
In 2020, the French government planned to invest more than USD 100 billion under the France Reliance 2030 program to overcome the negative impact of COVID-19. The investment was directed to developing green hydrogen fuel, improving mobility, and supporting the railway's sector & biodiversity.
In 2022, Government invested more than USD 3 billion in renovating residential and commercial buildings across the country. The housing sector witnessed sharp growth of ~14% in 2021 due to rising government investment.
The French government aims to become carbon neutral by 2050. The government has taken strong steps to control carbon emissions by reducing mining production and completely banning fossil fuel extraction by 2040.
There is a rise in investment in the development of the renewable energy sector. USD 1 billion funds are allocated for developing nuclear power plants, followed by USD 1.9 billion for green hydrogen. The investments are made for producing electric vehicles (USD 4 billion) and hybrid vehicles (USD 2.5 billion) in 2022. In addition to it, USD 1 billion investment is made for developing 40 GW of offshore wind farms in 2022.
Used Equipment Market Benefited by Government Investment in Housing Renovation Projects
- French housing industry witnessed sharp growth of 14.6% in 2021; the industry is expected to grow at a rapid pace due to rising government investment in repair and redevelopment projects of housing units across the country. The non-residential sector also grew due to the expansion of warehouses caused by growth in e-commerce sectors in 2021. There is a surge in housing renovation projects across the country in 2021. According to France housing data, more than 750,000 housing units will be renovated in 2021. The government disbursed USD 3.1 billion to renovate 751,646 housing units in 2021
Infrastructure & Public Transit Projects Increases Used Construction Equipment Utilization
- The French government will increase the investment in upgrading transit facilities across the country in 2022. The government plans to invest USD 7 billion for the next ten years to develop 9,000 kilometers of the railway line. In addition, USD 4.8 billion will be allocated for the maintenance and modernization of public transport, such as metros & trams, in 2022. The French Transport minister planned to invest USD 170 million per year till 2024 to double the transport of goods by railways. USD 4.7 billion is allocated to improve the railway network and redevelop railway tracks. The government also planned to invest USD 290 million to develop 130 kilometers of separate pathways for cycles in Paris
Strict Government norms for Controlling Carbon Emission Is Expected to Hamper the Sales of Used Construction Equipment
- France's government's concern for air pollution is driving it to take necessary steps to control it. The government has proposed tough emission standards for non-road mobile machinery such as construction equipment, railroad engine, and off-road vehicles. The stage V emission standards would replace a multi-layered legal framework in Europe. Stage V emission standard focuses on reducing the emission of nitrogen dioxide & particulate matter. The country also has Blue Angle norms for construction machinery. The norm also tightens the rules for noise emission and low emission levels
Growing Rental Market Impact Used Construction Demand
- The rental industry in France witnessed growth post-pandemic in 2021. The rental industry is witnessing growing demand due to rising equipment costs, increased economic instability, a cash shortage, technological upgrades, & large infrastructure expansion.
Surge In Demand for Demolition Excavators
- The demand for demolition excavators increases in the French market due to their use in rebuilding and renovation projects. Crawler excavators with high greater durability are used for demolition. Hitachi Construction Machinery in Europe sells crawler excavators designed solely for the purpose of demolition.
Key Questions Answered:
1. What is the expected size of France's used construction equipment market by 2028?
2. What is the expected number of Used construction equipment to be sold in France by 2028?
3. Who are the key players in France's used construction equipment market?
4. What is the growth rate of France's used construction equipment market?
Market Segmentation:
Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Road Construction Equipment
- Road Rollers
- Asphalt Pavers
Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
End Users
- Material Handling
- Road Construction
- Earth Moving
Key Vendors
- Caterpillar
- Komatsu
- Volvo Construction Equipment
- Hitachi Construction Machinery
- Liebherr
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- SANY
- Hyundai Construction Equipment
- Kobelco
- JCB
Other Prominent Vendors
- Terex Corporation
- Yanmar
- JLG
For more information about this report visit https://www.researchandmarkets.com/r/l5usfv
