Global demand for construction machinery is forecast to increase an average of+6.5% per year through to 2015, when the market will be worth US$ 171 billion, according to US-based research company Freedonia. The strongest growth will be seen in the Asia Pacific region, where China alone will account for 39% of all new equipment demand through to 2015. However, the pace of the growth in demand for construction equipment in the Asia Pacific is forecast to moderate. Demand grew at an average rate of+16.8% per year between 2005 and 2010, and is forecast to grow +6.8% per year between 2010 and 2015.
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