(UK) — Following a recorded decline in the turnover of the UK construction equipment industry it is expected to improve between 2010 and 2015.
During 2005 and 2009, the turnover of the UK construction equipment market recorded a Compound Annual Rate of Charge (CARC) of -10.08%. This is largely due to a decrease in construction activity and an increase in national credit restrictions.
The growth of the UK construction equipment market is expected to be supported by on-going construction and infrastructure projects to support the 2012 London Olympic Games.
The material handling equipment category was the largest in the market in 2009 with a 43.7% share. It’s forecasted that tunnelling and drilling equipment will witness the fastest category export growth of over 10% during 2010 – 2015.
UK construction equipment companies have been integral to key developments in equipment, product design, and technical innovation, while the Construction Equipment Association (CEA) and UK Trade & Investment continue to ensure the quality of equipment production. Moreover, many leading construction equipment brands, such as JCB, Terex, Komatsu, and Caterpillar, operate in the UK due to its transparent trade policies.
The CEA provides strategic help and support to businesses, helping them to overcome trade barriers and break into new markets; highly advantageous to help the construction industry fully recover from the recession.