. There is rapid infrastructure growth in the developing countries of the continent, which is being seen in the construction of roads, railways, highways, and dams. As a result, there is a growth in the demand for earthmoving equipment, such as loaders and excavators. Earthmoving machinery is required in an array of projects, such as mining and ground excavation for construction work.

Thus, the European construction & material-handling machinery market is being driven by the increase in construction activities. Residential and commercial construction will continue to grow with the low-interest rates offered by the governments in regional countries. Moreover, governments are investing in the development of road and railway infrastructure for ensuring better connectivity. In all, the European Commission has sanctioned $340 billion for the advancement of infrastructure and other aspects of the regional economy by 2027.

Browse detailed - Europe Construction & Material Handling Machinery Market Revenue Estimation and Growth Forecast Report

The demand for electric construction equipment is growing at a brisk pace in the market. The French Ministry of Ecological and Inclusive Transition stated that the construction industry accounts for approximately 44% of the energy consumption in France and 25% of the nation’s CO2 emissions. Electric construction equipment is also much more economical than its traditional counterparts, which is the main reason for the increase in the demand for the same. This is because of the fewer moving and vibrating parts in electric machines, which reduces the long-term maintenance expenses.

Hence, there is a rapid increase in the market value due to infra development growth and rising number of smart cities coming into existence.