Residential Housing Lead Europe Construction Equipment and Material Handling Machinery Industry

In various nations in Europe, governing organization is rapidly investing in the growth of commercial places, road infrastructure, and railways infrastructure. For example, the European Commission is planning to spend around USD 340 billion in 2027 on digital, climate, and infrastructure projects. 

Therefore, the market for Europe Construction equipment and material handling machinery is on track to hitting USD 75,436.3 million in 2030, as per a report by P&S Intelligence. 

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This growth of the industry is attributed to the surging labor price in the construction industry, surging need for offsite and modular buildings, increasing spending on infrastructure, and the fast expansion of smart cities in the region.

In the European market, the need for electric construction equipment is rapidly emerging at the higher rate. For example, in France, the construction industry holds about 44% of the energy use and around 25% of the nation’s CO2 emissions stated by the French Ministry of Ecological and Inclusive Transition.

Residential housing is the largest user, with a share of above 40%, in the industry. In Europe, the requirement for economic housing is frequently growing and government organizations are rapidly applying procedures to tackle the demand from the population. 

In European Union member states, the rate of VAT decreasing for the construction or purchase of a new house is normally applied. For example, in the U.K., people can able to buy a new home at a 30% discount in their community, according to the First Homes Scheme. 

Investments in European Infrastructure Are Growing

In Europe, there are the 5 biggest hospital construction projects were started, in November 2021: 

(i) In Belgium, the Hospitacite Hospital Complex renovation is valued at around USD 493 million, which is placed on 10 hectares of land.  

(ii) In Germany, the Lörrach Central Hospital Campus expansion is worth USD 418 million, and has a ground area of 47,000 m2. 

(iii) In Italy, Galliera Hospital Project includes the building of a 73,400 m2, 400-bed hospital for USD 185 million. 

(iv) In Spain, Albacete University Hospital Complex is valued at USD 170 million, and it has a gross floor area of 76,000 m2. 

(v) In Poland, Grunwald Central Integrated Clinical Hospital is valued at USD 158 million, and it accounts for an area of 45000 m2.