Sales of construction machines are set to rise by 25%, from a low of 650,133 in 2016 to about 810,000 by 2020, according to market intelligence firm Off-Highway Research. * 2018 Sales this year are estimated at 695,142. Managing director David Phillips expects to see growth from India, a country that could become a "significant regional manufacturing hub", after a 40% rise in equipment sales in 2016 driven by infrastructure projects. Elsewhere, the US, Japan and China are expected to return to growth following a period of economic slump. The global economy is also likely to grow faster than previously thought, thanks to strong consumer demand for goods such as cars, computers and smartphones.
Sales of construction machines are set to rise by 25%, from a low of 650,133 in 2016 to about 810,000 by 2020, according to market intelligence firm Off-Highway Research. Sales this year are estimated at 695,142. Managing director David Phillips expects to see growth from India, a country that could become a "significant regional manufacturing hub", after a 40% rise in equipment sales in 2016 driven by infrastructure projects. Elsewhere, the US, Japan and China are expected to return to growth following a period of economic slump. The global economy is also likely to grow faster than previously thought, thanks to strong consumer demand for goods such as cars, computers and smartphones.