Global demand for construction machinery is expected to rise 6% per annum to $189bn in 2017, according to an extensive report.
The Africa and Middle East region is expected to see the second-biggest growth among the global regions the report covers. At a predicted 5.5%, it is beaten only by the Asia-Pacific region, with its estimated 8.3% growth.
The report cites oversupply issues in the wealthier nations of the Africa/Mideast region as the reason growth was slow over the 2007-2012 period. It has taken several years since the financial crash for these equipment surpluses to be fully utilised. However the pace of growth is expected to quicken in the years leading up to 2017.
According to figures in World Construction Machinery this expansion will be fueled by growth in the Asia/Pacific region, particularly China, where the market is expected to climb at a double-digit annual rate.
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