French Used Construction Equipment Market
Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) — 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
In 2022, the French government introduced the France Renov program, which provides financial aid for home renovation. Financial help is provided to all income groups by the French government. The government aims to renovate 800,000 housing units in 2022
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
In addition to it, France passes a law to ban any extraction of fossil fuels in all its constituent territories by 2040. The law also prohibits awarding new permits and renewal of existing permits of oil & gas extraction companies. The French government focuses on reducing coal extraction to reduce the dependency on fossil fuels. The government aims to reduce fossil fuel by 40% by 2030 by choosing an alternate energy source. Strict Government laws are expected to hamper the demand for used construction equipment in the French market
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. The contractors prefer to rent construction equipment to manage the overall cost of projects which is pushed up due to a surge in labor & raw material prices. Rental operators are largely investing in technologically advanced and environmentally friendly construction equipment to grow their respective fleet sizes and effectively meet the increasing demands of their customers
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. Various online portals and companies such as Via-Mobilis, Ritchie bros, Equippo, & truck1 are offering used demolition equipment in the French market. Liebherr, Hitachi & Kobelco majorly offer demolition excavators in the French market. The demand for these excavators is expected to grow due to rising redevelopment and renovation projects across the country
The Earthmoving segment has the largest share in France’s used construction equipment market. Excavators held the largest share in the earthmoving segment in 2021
Infrastructure upgradation projects such as the renovation of commercial buildings, railway stations, and airports, repair of runways, and extension of roadways & bridges in rural parts of the country drive high demand for used construction equipment in France market. In 2022, the French government introduced the France Renov program, which provides financial aid for home renovation. The government aims to renovate 800,000 housing units in 2022
The government allocated USD 100 billion in funds under National Recovery Plan in 2021, major share of investment (80%) was planned to promote urban development, electricity network, and transport network
The government also plans to invest USD 5.1 billion to repair and renovate roadways across the country in 2022. USD 13.4 billion is allocated for developing and modernizing roads, highways, bridges, & ports in 2022
The demand for the aerial platform is expected to grow significantly due to various housing projects under progress in 2022. The demand for used construction equipment such as mini excavators, cranes, and multi-terrain loaders is likely to increase due to its extensive use for installing solar, wind & hydroelectric projects
The French government increases the investment in sports facilities for the upcoming Olympic event 2024. The government planned to invest USD 200 million for building 5,000 new sports facilities by the start of the Olympic Games in Paris in 2024 to encourage sports The demand for used cranes & excavators is expected to grow due to the rise in the construction of sports facilities
Recovery in the supply chain of new construction equipment post-pandemic and rising prices of used equipment are major threats to the demand for used construction equipment in France. However, used equipment is expected to remain popular among small contractors for short intervals of projects due to its diverse portfolio & low acquisition cost & good resale value
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?
No. of Pages
2021 – 2028
Estimated Market Value in 2021
Forecasted Market Value by 2028
Compound Annual Growth Rate
Key Topics Covered:
2. The Market Overview
3. France Used Construction Equipment (Type & Application)
3.1. France Used Construction Equipment Market by Type (Volume & Value)
3.1.1. Earth Moving Equipment
18.104.22.168. Backhoe Loader
22.214.171.124. Motor Grader
126.96.36.199. Other Earth Moving Equipment (Other Loaders, Bulldozer, Trencher, Etc.)
3.1.2. Material Handling Equipment
188.8.131.52. Forklift and Telescopic Handler
184.108.40.206. Aerial Platform (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, Etc)
3.1.3. Road Construction Equipment
220.127.116.11. Road Roller
18.104.22.168. Asphalt Paver
3.2. France Used Construction Equipment Market by Application (Volume & Value)
3.2.4. Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management, Etc)
4. Market Dynamics
4.1. Market Drivers, Restraints, Trends, Advantage France, Key Economic Regions, Advantage of Used Equipment, Inception of Used Equipment, Pricing of Used Construction Equipment Supply Chain Analysis, Covid-19 Impact
5. Technology Development
5.1 Advent of New Technology
6. Competitive Landscape
6.1. Competitive Landscape Overview
6.2. Major Vendors (Caterpillar – Volvo Construction Equipment – Komatsu – Hitachi Construction Machinery – Terex Corporation – Liebherr – Hyundai Construction Equipment – Jcb – Kobelco – Jlg – Xcmg – Sany – Yanmar – )
6.2.1. Other Prominent Vendors
6.2.2. Auctioneer Profile
6.2.3. Distributors Profile
7. Quantitative Summary
8. Report Summary
8.1. Key Insights
8.3. List of Graphs
8.4. List of Table
9. Report Scope & Definition
For more information about this report visit https://www.researchandmarkets.com/r/5slcse
French Used Construction Equipment Market
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