Sales in 2022 finish above 2021 figure and at highest level since before the financial crash
SALES of construction and earthmoving equipment continued to show very strong growth at the end of 2022, with fourth-quarter figures 20% above the same quarter in 2021. As a result, sales for the full year were 2.9% above 2021 levels, reaching 37,400 units.
According to the construction equipment statistics exchange run by Systematics International Ltd, in partnership with the Construction Equipment Association, by exceeding 2021 levels (36,400), which were higher than the peak levels reached in 2018 and 2019, sales in 2022 were the highest since before the financial crash in 2008.
An additional feature in the construction equipment statistics exchange scheme in recent years has been the recording of machine sales by engine type, including sales of electric-powered equipment. For 2022, this shows that sales of electric-powered machines were double the level of sales in 2021.
Whilst this illustrates the progress that is being made to decarbonize the sector, annual sales of electric powered equipment are still only in the hundreds, highlighting the need for more investment in charging infrastructure and further development and promotion of electric power within the industry.
Strong sales of equipment in the last quarter (Q4) of 2022 indicate that some of the supply chain issues experienced within the sector earlier in the year had begun to ease. Very strong sales of excavators of all types contrasted with earlier in the year when the market experienced supply difficulties from Asian markets, in particular.
However, whilst UK crawler excavator sales ended up at just under 3% above 2021 levels, sales of wheel loaders were weak in the last quarter and ended up being the poorest performing of the main equipment types last year, at 3.5% below 2021 levels.
Equipment sales in the Republic of Ireland are also reported in the statistics exchange. Here, sales in 2022 were 8% below 2021 levels, reaching 1,800 units, after seeing declines in the last three quarters of the year compared with 2021 levels.