Forecasting the construction equipment industry

From market development to capacity planning.
Drive strategic decisions backed by intelligent, data-driven forecasting.

Industry Challenges

Market Cycles

Construction activity is sensitive to interest rates, government spending, and regional development trends. Equipment makers struggle to balance capacity, inventory, and workforce planning when demand shifts quickly.

Production & Supply Chains

Many machines rely on long-lead components, highly specialized suppliers, and global logistics. Even small disruptions can cascade into costly delays.

Aftermarket & Service

Parts availability, maintenance forecasting, and service scheduling significantly impact customer satisfaction and revenue. Without accurate forecasts, service organizations risk both shortages and overstock.

How We Help

Data-Driven Forecasting

Indicio provides accurate demand forecasts based on the latest research in forecasting. This helps equipment manufacturers and distributors optimize production plans, balance inventory, and anticipate market shifts before they happen.

Identifying the driving factors

Indicio uses advanced variable-selection methods to identify the driving factors, filtering out scattered noise and giving you a clear picture of the future.

Easy to understand and explain

A good forecast is worth nothing if you can't explain it to the stakeholders. That's why Indicio has teamed up with machine-learning researchers to translate complex models into clear drivers and barriers, solving the
black-box problem.

Indicio advances our overall digital strategy of becoming a data-driven organization, producing accurate forecasts in a fraction of time.

Alexander Noren, a customer that used Indicio

Alexander Norén

Head of Analysis
Skanska

“Indicio was instrumental in achieving higher efficiency and at the same time increase the output from our lean organization”

Anders Nordberg

Head of Macro
LF Bank

Indicio has continuously improved our forecasts and added features that automate and support our business process.

Steven Van Poecke

Head of Marketing Intelligence
Toyota Material Handling

Explore case studies

Key drivers

Construction equipment industry in Europe

Main variable:
Euro Area 20, Eurostat, Production in Industry, Manufacture of Machinery for Mining, Quarrying & Construction, Calendar Adjusted, SA, Index

Indicator name	Influence
Euro Area, Business Surveys, DG ECFIN, Construction Confidence Indicator, Employment Expectations Over the Next 3 Months, Balance, SA	⭐⭐⭐⭐
EU 27 (without United Kingdom), Eurostat, Building Permits, Square Meter of Useful Floor Area, Residential Buildings, Except Residences for Communities, Change Y/Y	⭐⭐⭐
Growth YoY: Euro Area 20, Eurostat, Business Surveys, Eurostat, Sentiment Indicators, Construction Confidence Indicator, SA	⭐⭐
EU, Business Surveys, DG ECFIN, Construction Confidence Indicator, Prices Expectations Over the Next 3 Months, Balance, SA	⭐⭐
Growth YoY: EU, Business Surveys, DG ECFIN, Construction Confidence Indicator, Balance, SA	⭐⭐
Euro Area, Equity Indices, FTSEurofirst, Construction & Materials, 300 Index, Price Return, Close, EUR	⭐⭐
EU, ECB, Interest Rates, Long-Term Interest Rate for Convergence Purposes, Debt Security Issued, New Business, 10 Years, Currency Denominator: All Currencies Combined, Unspecified Counterpart Sector	⭐⭐
Growth YoY: EU 27 (without United Kingdom), Eurostat, Production in Construction, Production (volume), Construction (F), 2021=100, Calendar Adjusted, SA, Index	⭐⭐
Euro Area, Consumer Surveys, DG ECFIN, Consumer Confidence, Balance, SA	⭐⭐
Euro Area 20, Eurostat, Business Surveys, Eurostat, Sentiment Indicators, Construction Confidence Indicator, SA	⭐⭐
Growth YoY: EU 27 (without United Kingdom), Eurostat, Building Permits, Square Meter of Useful Floor Area, Residential Buildings, Except Residences for Communities, Change Y/Y	⭐⭐
Growth YoY: EU, ECB, Interest Rates, Long-Term Interest Rate for Convergence Purposes, Debt Security Issued, New Business, 10 Years, Currency Denominator: All Currencies Combined, Unspecified Counterpart Sector	⭐⭐
EU 27 (without United Kingdom), Eurostat, Producer Prices in Industry, Producer Prices, Industry (Except Construction, Sewerage, Waste Management & Remediation Activities) (B-E36), 2021=100, Index	⭐⭐
Growth YoY: EU 27 (without United Kingdom), Eurostat, Producer Prices in Industry, Producer Prices, Industry (Except Construction, Sewerage, Waste Management & Remediation Activities) (B-E36), 2021=100, Index	⭐⭐
Growth YoY: Euro Area, Consumer Surveys, DG ECFIN, Consumer Confidence, Balance, SA	⭐⭐
Euro Area 19, OECD MEI, Business Tendency Surveys (Construction), Order Books, Level, National Indicator, SA	⭐⭐
New Privately-Owned Housing Units Authorized in Permit-Issuing Places: Total Units	⭐⭐
Growth YoY: Euro Area, Business Surveys, DG ECFIN, Industrial Confidence Indicator, Total Sector, Monthly, Balance, SA	⭐⭐
EU 27 (without United Kingdom), Eurostat, Production in Construction, Production (volume), Construction (F), 2021=100, Calendar Adjusted, SA, Index	⭐
EU, Business Surveys, DG ECFIN, Construction Confidence Indicator, Balance, SA	⭐
Euro Area, Equity Indices, STOXX, Real Estate, Index, Price Return, Close, EUR	⭐
Growth YoY: Euro Area, Equity Indices, STOXX, Real Estate, Index, Price Return, Close, EUR	⭐
Growth YoY: EU 27 (without United Kingdom), Eurostat, Building Permits, Number of Dwellings, Residential Buildings, Except Residences for Communities, Change Y/Y	⭐
Growth YoY: Euro Area, Equity Indices, FTSEurofirst, Construction & Materials, 300 Index, Price Return, Close, EUR	⭐
Growth YoY: EU, Business Surveys, DG ECFIN, Construction Confidence Indicator, Prices Expectations Over the Next 3 Months, Balance, SA	⭐
Growth YoY: Euro Area, Business Surveys, DG ECFIN, Construction Confidence Indicator, Employment Expectations Over the Next 3 Months, Balance, SA	⭐
EU 27 (without United Kingdom), Eurostat, Building Permits, Number of Dwellings, Residential Buildings, Except Residences for Communities, Change Y/Y	⭐
Euro Area, Business Surveys, DG ECFIN, Industrial Confidence Indicator, Total Sector, Monthly, Balance, SA	⭐

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Construction equipment industry in the US

Main variable:
US - Manufacturers' New Orders: construction machinery; farm machinery & equipment, mining, oil, and gas

Indicator name	Influence


Manufacturers' Total Inventories: Construction Materials and Supplies	⭐⭐⭐⭐
Retail Sales: Building Materials and Supplies Dealers	⭐⭐⭐
Google trends: Hitachi Construction Machinery	⭐⭐
New Privately-Owned Housing Units Started: Total Units	⭐⭐
US - Gross Domestic Product	⭐⭐
Google trends: John Deere	⭐⭐
Manufacturers' Value of Shipments: Construction Materials and Supplies	⭐⭐
Trend: Manufacturers' New Orders: construction machinery; farm machinery and equipment, mining, oil, and gas	⭐⭐
Google trends: US - Volvo Construction Equipment	⭐⭐
United States - Manufacturing PMI	⭐⭐
Industrial Production: Construction Supplies	⭐⭐
Google trends: US - Bobcat Company	⭐⭐
Google trends: US - Case Construction Equipment	⭐⭐
Google trends: US - Heavy equipment	⭐⭐
Manufacturers' Unfilled Orders: Construction Materials and Supplies	⭐⭐
Google trends: Caterpillar Inc	⭐⭐
New Privately-Owned Housing Units Authorized in Permit-Issuing Places: Total Units	⭐⭐
Producer Price Index by Industry: Construction Machinery Manufacturing	⭐⭐
Google trends: KOBELCO Construction Machinery Co.Ltd.	⭐
Manufacturers' New Orders: Construction Materials and Supplies	⭐

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Explore more of our blog posts

Variable selection

The key demand drivers for construction equipment in Europe over the next years

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Forecast models

What model should I use to forecast…?

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Variable selection

Variable Selection for Forecasting, from Plots and Gut Feel to Data-Driven Search Algorithms

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