CHICAGO, July 5, 2023 /PRNewswire/ -- According to Arizton's latest research report, the New Zealand construction equipment market will grow at a CAGR of 4.53% during 2022-2029.
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The surge in demand for wheeled loaders, the use of electric equipment, and the use of electric & automated equipment in manufacturing are trends in the New Zealand construction equipment industry.
New Zealand Construction Equipment Market Report Scope
Report Attributes | Details |
Market Size (2029) | 5,113 Units |
Market Size (2022) | 3,749 Units |
CAGR (2022-2029) | 4.53 % |
Historic Year | 2020-2021 |
Base Year | 2022 |
Forecast Year | 2023-2029 |
Market Dynamics | · Rise in Infrastructure Investment in New Zealand · Investment in Education & Transport Sectors · Government Investments in Housing Projects |
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Market Trends & Drivers
The government announced the Building Act in December 2022, which includes a waste minimization plan derived from construction and demolition activities. Wheeled loaders, primarily used for removing construction debris due to their quick operation and large lifting capacity, are used because of increased waste management activities related to construction and demolition.
In 2023, there will be a spike in demolition projects in New Zealand. Ageing infrastructure is being demolished nationwide because of the government's investment in the renovation. For instance, work is being done in 2023 to demolish two historic buildings in Shelly Bay, located in the country's Wellington district.
The New Zealand market experiences high demand for electric construction equipment. Several construction equipment manufacturers, such as Komatsu, Volvo Construction Equipment, and Caterpillar, have recently launched compact electric construction equipment in New Zealand to tackle the growing demand for these tools. In 2022, Komatsu launched an electric mini excavator lithium battery in New Zealand. Volvo Construction equipment & JCB also launched electric-powered products in New Zealand. The New Zealand government introduced the Emission Reduction Plan & Building for Climate Change program in 2022. This has surged demand for zero-emission buildings in New Zealand. According to the New Zealand Green Building Council, there was a more than 150% increase in green building registration in New Zealand in 2022. Rising green & sustainable building construction in the country is expected to trigger the need for electric construction equipment in New Zealand.
Rise in Infrastructure Investment in New Zealand
The New Zealand government increased infrastructure investments from $57.3 billion to $61.9 billion in 2022. The investments were mostly directed toward healthcare, education, & the development of public infrastructure across the country. The New Zealand government allocated $2.9 billion for the Climate Emergency Response Fund for the next four years in 2022, aiming to reduce carbon emissions. An additional $375 million fund was allocated to increase public transport capacity and shift to low-emission vehicles. The government also planned investments of $349 million in a freight network to replace Kiwi rail's aging infrastructure with modern energy-efficient units. The $37 million fund invested under Construction Sector Accord transformation plan to increase the productivity capability and resilience of the construction sector. There is a surge in the healthcare sector investment post-pandemic in New Zealand. The government focused on improving the healthcare system across the country. In 2022, the annual healthcare fund allocated was $7 billion. The expenditure was prioritized for redeveloping several regional hospitals, ambulance services, and new pharmaceutical centers across the country. Therefore, a rise in investments in infrastructure, including investments in healthcare & public transports, are expected to drive the demand for construction equipment in New Zealand.
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Prominent Vendors
- Caterpillar
- Komatsu
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- Liebherr
- Volvo Construction Equipment
- Hitachi Construction Machinery
- JCB
- SANY
- Kobelco
- Hyundai Construction Equipment
- Yanmar
- Sumitomo Construction Machinery
- Takeuchi
- Toyota Material Handling
- Manitou
- SAKAI HEAVY INDUSTRIES, LTD.
- Kubota
- Bobcat
- AIRMAN
Distributor Profiles
- AdvanceQuip
- Clark Equipment
- CablePrice
- LiftX
- NZAM
- MIMICO
- Vertu Equipment
- Landex
- TDX
Market Segmentation
Type
- Earthmoving Equipment
- Excavator
- Backhoe Loaders
- Motor Grader
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
- Road Construction Equipment
- Road Rollers
- Asphalt Pavers
- Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
- Other Construction Equipment
- Dumper
- Tipper
- Concrete Mixture
- Concrete Pump Truck
- End Users
- Construction
- Manufacturing
- Mining
- Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
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Key Questions Answered in the Report:
- How big is the New Zealand construction equipment market?
- What is the growth rate of the New Zealand construction equipment market?
- Who are the key players in the New Zealand construction equipment market?
- What are the trends in the New Zealand construction equipment industry?
- Which are the major distributor companies in the New Zealand construction equipment market?
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