PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1111869
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1111869
The Poland construction equipment market is expected to grow at a CAGR of 4.20% during 2022-2028
Poland construction equipment market share by units is expected to reach 43,683 by 2028. Polish government investment in infrastructure development projects and European Union funding under the recovery & resilience program are some prominent factors that will drive the growth of Poland's construction equipment during the forecast period (2022-2028).
KEY HIGHLIGHTS OF THE MARKET
Segmentation by Type
Investment in Transport Infrastructure & Renewable Energy Projects
In 2020, COVID-19 negatively impacted Poland's economy; it contracted by 2.5% due to the lockdown situation in the country. The decline in economic activities adversely impacted the construction sector, which declined by 3.5% in 2020.
Despite the downfall, the economy witnessed significant growth in 2021; it grew by 4.8% 2021. A surge in investment in railways & road projects supported the economic recovery process in 2021. The Polish government invested $44.6 billion in roads & railways projects. In addition, the government invested $735 million in renewable energy projects in 2021. Strong recovery is expected in 2022, and upward growth is projected during the forecast period due to ongoing government projects in transport & renewable energy.
Some of the significant under-construction infrastructure projects include:
Adoption of Automation Technology & Green Hydrogen Fuel Technology in Construction Equipment
Poland is experiencing severe labor shortages in construction, manufacturing, and mining industries because of the COVID-19 outbreak. Because of the workforce shortage, new construction equipment with advanced technologies is highly demanded to improve worker efficiency and reduce labor dependency. Hitachi, for instance, has introduced wheel loaders and excavators with automation, smart operating technology, and the ConSite Hitachi Comprehensive Machine Management support system.
Companies are introducing green hydrogen fuel technology to replace conventional fuel-powered equipment. Demand for construction equipment equipped with green hydrogen fuel technology is expected to grow in the country as the Polish government aims to reduce fossil fuel dependency by 2030. Major OEMs in the country, such as Caterpillar, are developing construction equipment that has green hydrogen technology.
POLAND GOVERNMENT INITIATIVES
Growth in Infrastructure & Renewable Energy Projects In 2021
The Polish government increased infrastructure investment to improve economic activities to subdue the negative impact of COVID-19 on the economy. $44.6 billion investment was allocated for developing roads & railways across the country. In addition, the European Union granted $39 billion under Recovery & Resilience Plan (2021-2026). The funds were planned to direct the development of digital transformation & clean energy production.
The government invested $735 million in 2021 for various solar & wind energy projects across the country. The country witnessed an increase in the number of solar projects for achieving the target of 7.8GW of solar capacity by 2030 under the National Plan for Energy & Climate. Government initiatives such as auction schemes & incentives for rooftop installation of Solar cells are expected to drive the growth of the renewable energy industry in the country. By 2027, the government aims to increase offshore wind power generation capacity by 6 GW.
VENDOR LANDSCAPE
Key Vendors
Other Prominent Vendors
Distributors Profiles
KEY QUESTIONS ANSWERED
Section 1 - Introduction
Section 2 - The Market Overview
Economic Scenario, Foreign Direct Investment
Section 3 - Poland Construction Equipment (Type & Application)
3.1 Poland Construction Equipment Market by Type (Volume & Value)
3.1.1. Earth Moving Equipment
3.1.2 Material Handling Equipment
1. Crane
2. Forklift & Telescopic Handler
3. Aerial Platforms (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc).
1. Road Roller
2. Asphalt Paver
1. Construction
2. Mining
3. Manufacturing
4. Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, and Waste Management, etc)
Section 4: Market Dynamics
Market Drivers, Restraints, Trends, Key Economic Regions in Brazil, Advantage Brazil, FDI in Brazil, Import/Export Trend Analysis, Supply chain, COVID-19 Impact
Section 5: Technology Development
Advent of New Technology
Section 6 - Competitive Landscape
Section 7-Quantitative Summary
Section 8 - Report Summary
Section 9 - Report Scope & Definition
LIST OF TABLES: