The construction industry is set for growth in most world regions this year. Related in industries like the mining sector are much more robust than they were 12 months ago. Therefore, a double-digit sales increase in worldwide construction equipment sales remains a realistic forecast for 2018. In Europe, a forecast of 5% growth in sales remains the view for the full year 2018.
The European civil engineering market is expected to increase by 4.1% in 2018 – no subsectors are expected to see declines. Growth in construction investment in the euro area is forecast to remain strong, at 3.2% in both 2018 and 2019 (3.4% and 3.0% in the EU). All member states are expected to participate in the expansion.
The boom in the construction equipment sector is continuing, as more regions around the world are experiencing growth. In Europe, the year started in line with expectations, with a slightly slowing rate of growth, resulting in a 5% increase in sales in the first three months of the year.
The construction industry is set for growth in most world regions this year. Double-digit sales increase in worldwide construction equipment sales remains a realistic forecast for 2018. In Europe, the second quarter could see an acceleration of growth, and for the full year, a forecast of 5% growth in sales remains the view for 2018.
This was also confirmed in the May CECE Business Barometer survey (ajouter le graphique pas le lien) : business expectations for all markets in Europe are viewed as positive by a majority of manufacturers. Industry sentiment peaked in March, and has only declined modestly since then. Unsurprisingly, Southern European markets, including Spain and Portugal, as well as the CEE countries are seen as the most positive. However, there is less optimism for the markets in Turkey, the UK (with Brexit looming), and Italy (probably because of uncertainties in connection with the new government).
SNAPSHOT: GRAND PARIS AND THE 2024 OLYMPICS
The French equipment market has benefitted from government investment in industry, and also the positive impact of the presidential election. The Grand Paris Express project can be already considered
as a success. It was a crucial factor that led to Paris winning the right to host the Olympic and Paralympic Games in 2024.
Watch the new video on the CECE Annual Economic report 2018
The full report with detailed figures and graphs can be viewed and downloaded here.
About the Report
The CECE Annual Economic Report contains sections on the macro economic situation, the performance of the construction sector, the main markets and main segments of the European construction equipment industry. The report includes also information from the national CECE member associations, shedding more light on regional developments in theEuropean construction equipment sector.