In the past 10 years the Standard Excavators have been acquired new characteristics and technologies that enable them to be more consumer efficient and productive.
Now many of these new technologies have been applied in the Compact Excavators, renewing the market of these machines.
For the above mentioned reasons, this market segment is continuously expanding. Many earthwork machinery is to be sold all around the world in 2020 with a head to head race between North America and China. The excavator and bulldozer market has regained momentum after years of crises. The F.Y. 2017 closed with an historical record of 825,000 sold, an increase of 23% on the previous year. In the next 3 years the goal is to consolidate the recovery with growths from +5,3% in 2018 to +7,6% in 2020.
Within the strong economies, North America continues to be the point of reference for the future, holding a 9% increase in orders for 2020, with an average annual increase of 2,5% in investment and constructions. Europe, thanks to a medium demand growth rate of earthworking machines from 5% between 2018 and 2020 it will return to the 2007 pre-crises level of 205,000 units sold.
Japan on the other hand will see a slow down up to +1% in the sales from 2019 to 2020.
The prospects of an emerging area like Latin America will have an increase of +17% between 2019 and 2020 in the construction field. China, today the second largest world market with 21%, will expect to stabilize around 180,000 units sold with a growth rate of 2-3% which will bring China to basically match its North American competitor. Central Eastern Europe will reach its record high of 44,000 machines (+11%) of which half are purchased from Russia. A hypothetical positive growth rate is foreseen also for India with 50,000 machines in 2020 (+12%).