Growth Opportunity

Demand for Somero’s equipment is driven by factors that apply across all the regions we serve – the need for quality floors and a shortage of skilled workers.

North America

North America

Market Dynamics

  • Largest market and installed base of equipment
  • Non-residential construction market fundamentals remain positive in the US
  • Healthy economy supported by extended customer project backlogs
  • Government stimulus legislation CHIPS ACT, Inflation Reduction Act
  • Manufacturing and warehouse onshoring

Drivers of Growth

  • New product introductions
  • New technology to upgrade fleet of installed equipment
  • Fleet additions
  • Shortage of skilled labor in concrete construction industry
  • Accelerated shift toward e-commerce driving demand for warehousing

Europe

Europe

Market Dynamics

  • Second largest installed base of equipment
  • Positive non-residential construction market conditions in the European region
  • Machine electrification

Drivers of Growth

  • New product introductions
  • New technology to upgrade installed base of equipment
  • Fleet additions
  • Shortage of skilled labor in concrete construction industry
  • Accelerated shift toward e-commerce driving demand for warehousing
  • Demand for parts and service

Australia

Market Dynamics

  • Meaningful installed base of equipment
  • Positive non-residential market conditions
  • Growing economic environment

Drivers of Growth

  • New product introductions
  • New technology to upgrade installed base of equipment
  • Fleet additions
  • Shortage of skilled labor in concrete construction industry
  • Demand for parts and service

Rest of World

Market Dynamics

  • Current market penetration very low
  • Meaningful opportunities in the Middle East, Latin America, and India

Drivers of Growth

  • New product introductions
  • Growing demand for quality concrete flooring
  • Move toward e-commerce driving demand for warehousing
  • Increasing shortage of skilled labor in concrete construction industry

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