"Belgium Construction Equipment Market Research Report"

According to Arizton’s latest research report, the Belgium construction equipment market is growing at a CAGR of 4.90% during 2024-2030.

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Report Scope:??????

Market Size - Volume (2030): 16.92 Thousand Units

Market Size – Volume (2024): 12.70 Thousand Units

CAGR (2024-2030): 4.90%?????

Market Revenue (2030): $1.16 Bn

Historic Year:?2021-2023??????????????

Base Year: 2024????????????

Forecast Year: 2025-2030????

 

In 2023, the construction equipment market in Belgium remained stable, with consistent invoiced sales and steady equipment deliveries. However, notable differences were observed across various types of equipment. Despite this, construction projects saw a decline of 15% to 25%, potentially due to market uncertainty, reduced investment, or delays in infrastructure spending, suggesting challenges ahead for the sector.

Belgian construction companies-maintained stability in 2023 by fulfilling large orders secured in previous years, offsetting the effects of declining new orders. The downturn in order intake can be attributed to uncertain macroeconomic and geopolitical conditions. By September 2024, production in the construction sector had decreased by 1.6% in the European area and 2.0% within the EU. Additionally, construction bankruptcies have risen significantly. From January to August 2024, Belgium saw a 21% increase in bankruptcies compared to the same period in 2023, with nearly 2,000 companies failing during the first nine months of 2024. This trend is expected to continue into 2025. In response, the Flemish government announced an additional $1.4 billion for public works in September 2024, supplementing the existing $5.8 billion budget managed by the Department of Mobility and Public Works.

 

Recent Developments in the Belgian Construction Equipment Market

  • In December 2024, Volvo CE introduced its updated straight boom demolition excavators, including, the 30-ton- EC300 and the 40-ton EC400. The EC400 replaced the previous EC380E model, while the EC300 is an enhanced version of the EC300E.
  • In November 2024, Volvo CE launched a new generation of High Reach excavators. The new EC400 High Reach and EC500 High Reach excavators replace the previous generation EC380EHR and EC480EHR respectively. These new models are integrated with new features and the latest innovations.
  • In October 2024, Wacker Neuson acquired Compact Machinery BV (a construction machinery wholesaler based in Ghislenghien, Belgium). This strategic move highlights the expansion of Wacker Neuson’s presence in the Belgian market.

 

The Rising Trend of Prefabricated Construction in Belgium is Set to Boost the Sale of Cranes

Belgium's modular construction sector has experienced significant growth, with the market value increasing by nearly 50% over the last two years, driven by material variety and rising material and labor costs. Prefabrication enables faster construction times, reducing project timelines by up to 50%, which is essential in Belgium’s urbanized environment where demand for residential and commercial spaces is high.

As environmental concerns grow, modular construction is seen as a greener alternative. Many Belgian prefab factories have embraced sustainable practices, focusing on waste reduction, material optimization, and the use of recyclable materials.

Although growth may slow slightly in 2025 due to economic factors, strong market fundamentals, housing demand, and rising interest in modular solutions indicate a positive outlook from 2026 onwards. Small, prefabricated homes, known for their affordability, durability, and energy efficiency, continue to gain popularity in Belgium. The demand for modular construction spans both residential and institutional sectors, with an increase in the sale of material handling equipment like cranes expected during the forecast period.

 

Competitive Overview

Caterpillar, Liebherr, Komatsu, Volvo CE, and Hitachi Construction Machinery lead the Belgium construction equipment market, holding strong market shares with a broad range of equipment. Niche players such as Terex, Tadano, and Merlo Spa offer specialized products but with limited diversification. Emerging companies like JCB, Kobelco, and SANY are challenging market leaders with innovative, technologically advanced solutions. Meanwhile, AUSA, Mecalac, and others with low product diversification are struggling to keep pace, particularly in adopting new technologies within the sector. The market continues to evolve with growing competition and technological advancements.

 

Belgium Construction Equipment Market Dynamics

Drivers

  • Increasing Investments in Redevelopment & Renovation
  • Increasing Construction of Public Infrastructure
  • Surge in the Development of Wind Energy Projects

Trends

  • Hydrogen Strategy in Belgium to Boost Construction Machinery Market
  • Electrification of Construction Equipment
  • Rising Trend of Prefabricated Construction in Belgium is Set to Boost the Sale of Cranes

Restraints

  • Slow Economic Growth
  • Rising Bankruptcy Rates & Skilled Labor Shortage
  • Sluggish Growth of the Manufacturing Sector

 

 

Prominent Vendors

  • Caterpillar
  • Volvo Construction Equipment
  • Komatsu
  • Hitachi Construction Machinery
  • Liebherr
  • JCB
  • SANY
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
  • Kobelco
  • Zoomlion Heavy Industry Science & Technology Co., Ltd.
  • HD Hyundai Construction Equipment
  • CASE Construction Equipment
  • Kubota
  • Bobcat
  • DEVELON
  • LiuGong
  • Tadano
  • Terex Corporation
  • Jungheinrich AG
  • Manitou
  • Mecalac
  • Yanmar
  • Takeuchi
  • Sunward Intelligent Equipment Group
  • Ammann
  • Wacker Neuson
  • Hidromek
  • MERLO S.p.A
  • AUSA
  • JLG
  • Konecranes

 

Distributor Profiles

  • Van Haut
  • Compact Machinery BV
  • FM Bouwmachines
  • HST TESSENDERLO
  • BIG MACHINERY
  • Vangaever

 

Segmentation by Type

 

Earthmoving Equipment

  • Excavator
  • Backhoe Loaders
  • Wheeled Loaders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)

 

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 Mixer
  • Concrete Pump Truck

 

Segmentation by End Users

  • Construction
  • Mining
  • Manufacturing
  • Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

 

Key Questions Answered in the Report:??????

How big is the Belgium construction equipment market?

Who are the key players in the Belgium construction equipment market?

What are the trends in the Belgium construction equipment industry?

Which are the major distributor companies in the Belgium construction equipment market?

What is the growth rate of the Belgium construction equipment market?

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