Global key market size analysis and forecast
In 2016, the growth rate of the main regions slowed down and the downturn became the main cause of the sluggish market growth. The market expansion was respectively Asia Pacific (1.2%), Middle East (0.2%), North America (0.7%) and Market Negative Growth (Decline) Africa (1.4%), Emerging Europe (0.7%), Latin America (1.5%) and Western Europe (0.2%). In 2016, the global construction machinery market in the world was highly concentrated. The TOP10 market accounted for 73.8% of the total. China and the United States accounted for 35.9% and 14.5% of the market respectively, while other countries accounted for less than 5%. In the global TOP5 market in 2016, the market sizes of China, the United States, Canada and Japan increased by 1.4%, 1.0%, 0.1% and 2.1% respectively as compared with the same period of previous year while those in the United Kingdom decreased by 1.2%. It is expected that the market size of China, the United States and Canada will continue to grow in 2017, up 1.1%, 1.2% and 1.2% respectively over the same period of previous year while the size of the markets in Britain and Japan will decrease by 1.6% and 0.8% respectively.