According to Arizton’s latest research report, the Sweden construction equipment market is growing at a CAGR of 3.28% during 2023-2029.
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Report Scope:
Market Size (2029): 14.64 Thousand Units
Market Size (2023): 12.06 Thousand Units
CAGR (2023-2029): 3.28%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
The Sweden construction equipment market is expected to reach $915.1 million by 2029. In 2023, the material handling segment held the largest market share at 59.7%, with forklifts and telescopic handlers comprising 80.1% of this segment.
In September 2024, Volvo Construction Equipment (CE) expanded its factory in Arvika to increase production of electric wheel loaders, preparing for potential EU tariffs on electric loaders from China. Volvo aims to be fully fossil-free by 2040, with 35% of its sales coming from electric machines by 2030. In October 2024, Volvo CE launched the Volvo L90 electric wheel loader, showcasing its commitment to sustainability and electrification.
Further supporting green initiatives, Stockholm introduced three 300 kW fast-charging stations for electric excavators at the Hagastaden urban development project. This move aligns with Stockholm’s goal of becoming fossil-free by 2040 and encourages contractors to invest in electric construction vehicles.
Sweden Leads Green Energy Transition with Battery-Powered Construction Equipment
Sweden, a global leader in green energy, boasts approximately 98% fossil-free electricity production, with over 70% derived from renewable sources. The government aims for 100% fossil-free electricity by 2040. In line with this, several Swedish construction companies are contributing to the country's green transition by adopting battery-powered machinery.
In October 2024, as part of Stockholm's sustainability efforts, fast-charging stations were installed at the Hagastaden urban development project in Solna. The charging infrastructure includes three 300 kW poles and one 600 kW power unit, enabling quick charging for construction vehicles on-site.
Nordfarm also launched the emission-free SANY SY215E electric excavator in October 2024. With an operating weight of 23 tons and a 422-kWh battery, it is designed for various contracting projects.
In June 2024, Volvo Construction Equipment (CE) introduced a new generation of excavators and rigid haulers, including the L90 and L120 electric wheel loaders, and the EWR150 electric wheeled excavator, all equipped with zero-exhaust emission solutions.
Recent Developments in the Sweden Construction Equipment Market
- In September 2024, Volvo CE expanded its factory in the Arvika region of Sweden to enhance the production of electric wheel loaders.
- Additionally, in October 2024, Stockholm introduced three fast-charging stations for electric excavators at the Hagastaden urban development project, each with a capacity of 300 kilowatts (kW).
- In October 2024, Delvator (a construction machinery supplier in Sweden) introduced Bell, a new brand to its product lineup, offering dump trucks for the first time in many years.
- The Swedish contractor Steffes Schakt AB has been utilizing the Hitachi super long front (SLF) excavators on infrastructure, dredging, and decontamination projects. The ZX350LC-7 SLF is working on a regeneration scheme in Stockholm’s Meatpacking District.
Sweden Construction Equipment Market Dynamics
Drivers
- Investments in Transport Infrastructure
- Growth in Renewable Energy Projects
- Growing Investments in Public Infrastructure Projects
Trends
- Sweden’s Green Transition is driving the demand for Electric Construction Equipment
- Sweden’s Waste-to-energy Initiative
- Integration of Hydrogen Fuel Cell Technology and Hydrotreated Vegetable Oil (Hvo100)
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Prominent Vendors
- Volvo Construction Equipment
- Caterpillar
- Komatsu
- Hitachi Construction Machinery
- Liebherr
- JCB
- SANY
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- Kobelco
- HD Hyundai Construction Equipment
- CASE Construction Equipment
- Kubota
- Bobcat
- DEVELON
- LiuGong
- Tadano
- Terex Corporation
- Jungheinrich AG
- Manitou
- Haulotte
- Hydrema
- Mecalac
- Yanmar
- Takeuchi
- Sunward
- Ammann
- Wacker Neuson
- HİDROMEK
- SUMITOMO CONSTRUCTION MACHINERY CO., LTD.
- MERLO S.p.A
- AUSA
- Bell Equipment
- JLG
Distributor Profiles
- EMS
- Bengt Bergs Maskinservice AB
- Swecon
- Stig Machine
- Maskinia AB
- Delvator AB
- KH-Maskin AB
Market Segmentation
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
End Users
- Construction
- Mining
- Manufacturing
- Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the Sweden construction equipment market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/sweden-construction-equipment-market
What Key Findings Our Research Analysis Reveals?
How big is the Sweden construction equipment market?
Who are the key players in the Sweden construction equipment market?
What is the growth rate of the Sweden construction equipment market?
What are the trends in the Sweden construction equipment industry?
Which are the major distributor companies in the Sweden construction equipment market?
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