- 1. Romania’s total construction volume increased by 14% in the first nine months of the year
The total volume of construction works in Romania grew by about 14% in the first nine months of the year, with the residential construction segment shrinking by 6% due to lower demand as a result of rising interest rates, according to data.
Thanks to the European funds and the national reconstruction program, the first nine months of this year, the Romanian engineering and construction projects increased by 34%, which is unprecedented in recent decades, especially in logistics parks, the total floor space in the past seven years has tripled.
In 2020, Romania released a national investment and economic recovery plan called “Rebuild Romania”. The plan states that the new model of economic development advocated by the Romanian government aims to strengthen Romania’s economic convergence with Europe and aims to bring Romania’s GDP per capita in purchasing power parity (PPP) to 87% of the EU-27 average by 2025.
In July 2020, the Romanian president said that after four days and nights of negotiations and very complex discussions between the EU and the leaders of the member states, Romania will have access to 79.9 billion euros from the EU to rebuild Romania’s infrastructure. The amount far exceeds the previously expected €33 billion.
- 2. Sales of construction machinery in Romania in 2023
Approximately 3,800 machines will be sold in the Romanian construction machinery market in 2023, a record for Romania in many recent years.
Backhoe loaders account for 27% of all construction machinery, while CAT’s market share in this category is 33% (one-third).
In terms of excavators, the tonnage of excavators sold ranges from 1.5 tons to 90 tons. in 2023, excavators will account for 36% of all machines sold, with Caterpillar accounting for about a quarter of the share.
Together, Caterpillar’s share will total more than 20%. From the current news information, China’s exports to Romania’s construction machinery is still relatively small.
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- 3 Romania Machinery Market Characterization, 2023
As things stand today, two-thirds of the construction machinery sold in Romania is purchased with non-reimbursable financial support. Without this financial support, the entire Romanian market would have sold less than 1,000 units of construction equipment, while its construction projects and overall construction dynamics would have been much weaker.
It is argued that it is still at a good stage and that the availability of European funds is still increasing. However, future trends are also largely dominated by this factor, and without funding from the EU, there will be little bright future to speak of.
