The Construction Equipment Association (CEA) has released the fourth edition of its UK Construction Equipment Sector report for 2023.
The report is authored by Knibb Gormezano and partners and contains additional information from Off-Highway Research.
The Construction Equipment Sector plays a pivotal role in the UK economy, not only contributing significantly to employment, with thousands directly employed in manufacturing and many more in supporting sectors, but also in driving the infrastructure growth that underpins national development, ensuring efficient and sustainable construction projects from residential buildings to transport links and energy facilities – it’s an industry that shapes the physical and economic landscape of the nation.
Despite challenges including Brexit, COVID, and supply chain constraints, the sector has shown strong resilience, achieving record-breaking revenues, production volumes, and employment figures
Key highlights from the report:
1. Total Revenue: The sector has seen substantial growth in its total revenue, which has increased to over £15 billion in 2021/2022, from £13 billion in 2018.
2. Total Employment: Employment in the sector rose 10% from 40,000 to over 44,000 in the same period.
3. Investment in R&D: There is a significant annual investment in Research and Development, amounting to £250 million.
4. Gross Value Added (GVA): GVA for the sector has increased from £2.3 billion in 2018 to £2.5 billion in 2022.
5. World Ranking in Machines: The UK construction equipment sector ranks 5th globally and 1st in Europe by unit sales.
The Construction Equipment Association (CEA) is proud to present its latest sector report on the UK construction equipment industry, the first since 2019, a period marked by significant changes such as the UK’s departure from the EU and the impacts of the COVID-19 pandemic.
The Chief Executive of the CEA, Suneeta Johal, applauded the industry's response to these trials: "Our industry has demonstrated remarkable resilience and adaptability in navigating these challenges, while concurrently grappling with energy, labour, and supply chain related issues. Amid these hurdles, the industry has managed to maintain robust growth throughout the last reporting period in 2021 and into 2022."
