The construction and mining machinery/equipment market is in the midst of a consolidation phase, as acquisitions and strategic partnerships are still continuing after a spurt in the consolidation wave of the nineties. The highly competitive industry has maintained price levels in the moderate range with slight fluctuations, over the last few years.
Nearly 4.8% growth is likely to be registered in the global construction investments by the year 2012. India and China are expected to grow at a healthy rate that is way above the average global growth rate. In terms of volume sales, United States is the largest regional market with an estimated share of 26.56% of the global unit sales in 2007. The new trend in US and Europe to combine a mini-excavator with a skid steer loader for optimum performance is one of the reasons behind the demand for mini-excavators. In terms of volume sales, skid-steer loaders represent the largest product segment in the United States with sales projected to exceed 71 thousand units for 2009. Sales of construction and mining machinery/equipment in Europe are projected to exceed 195 thousand units by the end of the year 2008.
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