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Continuing the trend seen in 2017, there was a widespread improvement in equipment sales around the world last year, with increases in North America, Europe and emerging Asia, including both China and India.

In China, sales of construction equipment including mobile cranes grew 37 per cent in 2018. This followed on from the 81 per cent surge seen in 2017, and took the market to 343,817 units.

In India, sales of construction equipment including mobile cranes grew 35 per cent, the third successive year of robust growth. This took the market to a record high of 98,204 units, around 44 per cent above the previous-high seen in 2011, and more than double the demand seen just three years ago during the cyclical low point of 2014 and 2015.

Meanwhile, sales in Western Europe hit their highest for a decade in 2018, with a 10 per cent rise to 177,694 units. Demand increased in 14 out of the region?s 15 largest markets, with sales in Germany and the UK in particular reaching impressive levels. North American equipment sales also improved last year, with growth of 13 per cent, taking demand to some 195,500 units. The only disappointment among the world?s largest markets last year was Japan, where sales fell 5 per cent to 63,700 machines.

While 2018 is likely to represent the peak in the current cycle, Off-Highway Research forecasts only a moderate decline in global demand this year. Sales are expected to remain above one million units, which would be only the fourth year in history this has been achieved.

The outlook for the following years is for demand to stay at good levels. However, any negative and unexpected political and economic events could have an adverse impact on the positive outlook.