Market Share of Sweden Construction Equipment Industry
The market is fragmented and competitive, with the presence of various international construction equipment companies operating across Sweden either through a dealership network or via their manufacturing facility. Some of the major players include Caterpillar, Komatsu, Liebherr, Volvo Construction Equipment, Kubota, Kobelco, JCB, Hitachi Construction Machinery, Takeuchi, and Hyundai Construction Equipment, among others. These players compete based on various parameters such as equipment quality, price, dealership network, geographical coverage, aftersales services, product diversification, and value-added services such as equipment as a service (EaaS), among others.
Various companies operating in the ecosystem are highly focusing on investing hefty sums in R&D activity to diversify their construction equipment product portfolio across Sweden to cater to the increasing demand of the customers. For instance,
In July 2023, Volvo Construction Equipment, a construction equipment company based out of Sweden, announced the launch of a new Compact Business unit to integrate the lucrative opportunity that the compact equipment market provides.
In August 2022, Volvo Group announced the initiation of the process to establish a large-scale production plant for battery cells in Sweden, which will be designed specifically for commercial vehicle applications, supporting the global roll-out of construction equipment and electric drivelines for different applications.
In June 2022, Liebherr, a construction equipment manufacturer, exhibited numerous earthmoving and material handling machines for a wide range of applications at the Svenska Maskinmässan fair held in Stockholm, Sweden. With the L 508 Compact, the L 556 XPower, the L 586 XPower, and the L 509 Tele, Liebherr exhibited four of its wheel loader models to attract customers in Sweden. Further, the company also exhibited its Generation 8 crawlers and compact wheeled excavators at the fair.
The market is expected to witness the launch of various advanced construction equipment products to cater to the growing needs of customers, which will assist the companies in gaining a competitive edge in the market.
Sweden Construction Equipment Market Leaders
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Caterpillar
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Komatsu
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Liebherr
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Volvo Construction Equipment
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Kubota
*Disclaimer: Major Players sorted in no particular order
