Growth Opportunity

Demand for Somero’s equipment is driven by global, long-term structural trends, including the need for higher-quality concrete floors, increased project scale, and a persistent shortage of skilled labor across construction markets.

North America

North America

Market Dynamics

  • Largest market and installed base of equipment
  • Long-term non-residential construction market fundamentals remain intact in the US
  • Healthy economy supported
  • Extended customer project backlogs
  • Government stimulus legislation CHIPS ACT, Inflation Reduction Act
  • Manufacturing and warehouse onshoring
  • Logistics facilities

Drivers of Growth

  • New product introductions
  • New technology to upgrade fleet of installed equipment
  • Fleet additions
  • Shortage of skilled labor in concrete construction industry
  • Customer segmentation (small to mid sized contractors)

Europe

Europe

Market Dynamics

  • Second largest installed base of equipment
  • Large non-residential construction market in the European region
  • Machine electrification
  • Expansion and deeper penetration

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

Australia

Market Dynamics

  • Meaningful installed base of equipment
  • Large non-residential market
  • Large economy

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
  • Increasing shortage of skilled labor in concrete construction industry

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