According to a new study by Freedonia Group, the world demand for construction machinery is estimated to advance 3.9% annually until 2019, reaching an approximate sum of $218 billion, which would be a decline from the fast pace of growth between 2009 and 2014.

Due to strong sales in 2014 alongside recovery from the global financial crisis, industrialized locations, such as North America and Western Europe, will underperform.

“Demand in the region had dropped largely due to declining sales in Brazil, which purchased a significant amount of new construction equipment in the intervening years in preparation for the 2014 FIFA World Cup and the 2016 Summer Olympics,” said analyst Lee Steinbock.

In contrast, due to increased construction in developing countries, the report predicts that the majority of the demand will come from the Asia/Pacific region, specifically China, as well as Central and South America, and the Africa/Mideast region.

Continued growth in construction activity and significant investment in large surface mining projects will help Central and South America recover from sales declines between 2009 and 2014.

Excavators and loaders are construction machinery products which are predicted to be in highest demand. Increased infrastructure spending will help to support advances for graders, mixers, pavers, rollers, and related equipment, whilst residential building construction spending, will help drive new crane sales.