The Blue Ocean of Brokering Heavy Equipment

Heavy equipment, such as construction machinery and industrial machines, is a vital part of the global economy. The global market for heavy equipment is valued at over $145 billion USD and is expected to grow at a steady rate in the coming years.

In terms of regional markets, Asia Pacific is the largest market for heavy equipment, accounting for over 35% of global sales. China is the largest market within the region,and is also the largest market for heavy equipment worldwide. Other major markets in the region include India, Japan, and South Korea.

The North American market for heavy equipment is the second largest in the world, accounting for around 20% of global sales. The United States is the largest market in the region, followed by Canada and Mexico.

The European market for heavy equipment is the third largest in the world, accounting for around 15% of global sales. Germany, France, and the United Kingdom are the largest markets in the region.

The Latin American and Middle East & Africa markets for heavy equipment are smaller than the other regions, accounting for around 10% and 5% of global sales respectively. Brazil, Argentina, and Saudi Arabia are among the largest markets in these regions.

In terms of product types, earthmoving equipment is the largest segment, accounting for around 40% of global heavy equipment sales. Material handling equipment and cranes is the second largest segment, accounting for around 20% of global sales.

It is also worth noting that, in recent years, the trend in heavy equipment industry is the increasing popularity of rental equipment and the growth of the service and maintenance market.

It is also important to mention that the market is affected by general economy and major projects, for example during the global financial crisis of 2008, the construction industry took a hit and that was reflected on the heavy equipment market.

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