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2024 Update Coming Soon Published Date: Sep 2022 Number of Pages: 107
Construction equipment Market, commonly seen at construction sites, are heavy duty vehicles also known as heavy trucks, heavy equipment, heavy hydraulics and engineering equipment. They are vital for all construction activities and their demand is forecasted to grow during the period 2021-2026.
During the coronavirus pandemic, the construction in all sectors came to a standstill due to the fear of spread of the virus and low economic activity. However, as we see conditions are being restored to normal levels gradually, it is expected that by the end of 2021, there will be growth in the demand of construction equipment Market.
The American Society of Civil Engineers (ASCE) has designated 13 Game Changers—groundbreaking infrastructure projects and programs that represent the latest innovations in the transportation and furnishing construction equipment Market industry.
The G9075‘s CRI Engine and higher torque make it perfect for PMGSY projects such as state highways, rural roads, and district roads. In comparison to traditional motor graders, this one has a wide blade and is optimized to give zero-compromise grading at a lower cost.
The G9595‘s CRi engine and greater torque make it perfect for leveling industrial plots, rail corridors, and national highways that are being expanded.
The G9595 has an air-conditioned cabin that is ergonomically designed with the comfort of the operator in mind. It gives operators an experience that is free from tiredness, which helps them increase their total productivity.
The launch of the BS-IV has improved the productivity and features of the whole EarthMaster line of backhoe loaders.
The overall production capacities increase thanks to a better hydraulic system with a larger flow handling capacity and other upgrades.
The EarthMaster range of backhoes is perfectly suited for all types of backhoe applications, be it mining, trenching, crushing, building construction, or any other task in the construction business.
These backhoes have crucial and distinctive characteristics including Banana Boom, joystick lever, durable design, and bigger buckets.
It will be offered in two variations—SX and VX—and will come with a guarantee of the equipment’s resale value, providing peace of mind both while the equipment is owned and when it is being sold.
A product in the new low range HP category called the SX Smart50 is the best option for the hirer market. The product is built with a tested Mahindra 50HP Ditech BSIII engine and hydraulics that are tuned to deliver backhoe productivity comparable to that of the engine.
In a highly competitive low margin category, SX Smart50 satisfies the needs of price-sensitive consumers.
The EC550E is an extremely powerful and productive machine that is ideal for heavy-duty digging and mass excavation, increasing productivity.
This Volvo Crawler Excavator, which is available with a variety of optimal-sized buckets, redefines the standards for the sector and pairs flawlessly with wide-body hauling machinery to cut down on the number of passes needed and significantly shorten cycle times.
The EC550E’s powerful engine allows it to provide digging forces and lifting capacities more often associated with a tonne excavator, as well as improved swing torque and speed.
With its long lower frame, sturdy top frame, and strengthened digging equipment with big pin sizes, it is the best option for carrying huge loads in the most demanding tasks. Additional stability and greater ground clearance are provided with the optional wider retractable bottom frame.
Digitization marking shifts away from traditional analog practices. It’s an integration of digital tools to streamline existing business processes, like moving time tracking, safety training and various paper forms online.
This makes the field data collection process more efficient, improves time tracking accuracy, and centralizes the field data for global visibility. By turning away from cumbersome practices and investing in digitization, construction machinery companies can level up their businesses, improving processes and systems to make employees more productive, reduce overall costs and, consequently, increase profitability.
The core vision of IoT for mobile machine companies is about implementing digital technology to capture actionable data about the performance of mobile machine systems autonomously, do it in real time and deliver it to machine end users and OEM suppliers so they can maximize the uptime and flexibility of their machines.
Recently, Drones or UAV (unmanned aerial vehicles), are starting to see rapid adoption in the heavy civil construction industry. Innovative companies use construction drone mapping and reporting software to transform how they perform and deliver surveying, planning, and worksite data.
Telematics systems continue to play a pivotal role in heavy-duty equipment. As use of these systems has increased over the years, so too have their capabilities. Retrieving data from a piece of equipment and making the most of that data continues to be an area in which telematics technology is evolving. Incorporation of more data analytics as well as artificial intelligence and vision technology, such as dash cams, are some of the ways that telematics systems are advancing to provide more information for vehicle and equipment owners.
Automatic controls for construction machinery have emerged over the last decade with the goal of helping contractors do their jobs more efficiently. 3D paving control is one technology that hasn’t exactly gained the momentum in the industry that it should have. 3D paving allows the system to directly reference the design rather than a surface or stringline of the surface. This minimizes asphalt usage, reduces waste and overruns, and helps projects finish on time and under budget; all things contractors are trying to do on every job.
The Global Technical Regulations provide a worldwide standardised method to determine the emission of gaseous compounds, particle emission and number, fuel consumption, energy consumption as well as range of electric equipment vehicles.
The regulation authorities have been under scrutiny mainly in Europe, Japan and USA from equipment manufacturers to harmonise the emission standard which will streamline the development of engines and equipment. The European Commission has proposed the most stringent emission standards for the non-road machinery, making it difficult for manufacturers to meet the standards.
The Indian government announced the investment of INR 15 trillion as part of its ambitious plan to develop highway infrastructure in the upcoming five years which will drive the demand and growth of the construction market for manufacturing of concrete, cement, raw materials and road construction machinery and equipment.
Both developing and developed nations demand construction equipment market for different purposes, some common factors which are expected to drive the market are :
According to product type, the market is segmented by
Out of the above segments, earth moving machinery has the highest market share. This is mainly due to its demand in developing countries where there is rapid urbanization and the government initiatives to improve infrastructure to facilitate growth. Backhoe loaders and excavators are necessary for all construction activities hence with more infrastructure development, their demand increases.
China leads the demand for this type of equipment. Coming to the concrete and road construction material, it has been noticed that there has been a rise in the compounded annual growth rate (CAGR) of this segment in 2019.
Out of the above mentioned regions, the Asia Pacific region has been dominating the market. The main reasons for the same are increasing urbanization, industrialization and growth of population in this region, mainly in developing nations like India and China. Along with these factors, favorable government policies towards capital investments are giving a boost to the demand.
In North America, the government is primarily focusing on improving transport infrastructure. Many parking lots, highways, driveways and bridges are planned to be constructed which in turn increase the demand for construction equipment. The steps being taken to build smart cities are also driving growth. It is expected to have the fastest growth rates in the forecasted period 2021-2026.
In Europe construction equipment market, the main drivers are increasing new areas for housing purposes and technological advancements in the existing construction equipment market.
Looking at a country wise analysis, it is seen that USA, India and China hold more than half of the market share.
To know more about India construction equipment market, read our report
The types of equipment’s available can be categorized as follows:
Among the above mentioned equipment, Wheeled loader > 80 HP is expected to have the largest market share in the period 2021-2026. As these vehicles serve the purpose of loading and unloading of material of high volume, they are used for bigger projects for infrastructural development.
In India and China, a large number of housing projects and roadways are being constructed with the Government in support of these activities which is driving the demand for this segment.
By power output, the various subcategories are as followed :
The 101- 200 HP segment is expected to have the largest share in the market. As this segment is suitable for road and airports construction and other large commercial projects their demand is high due to such activity planned for the period 2021-2026 by the Government.
This is beneficial for the producers as well as at this level of power output, the machine capabilities are maximised. Maintenance costs are lower for these and it ensures fuel efficiency as well.
The companies are focusing majorly on product development to retain their market share. Since electric mobility is gaining momentum, the adoption in the construction equipment market sector is also taking place. Some noteworthy technological developments by the players are :
The COVID-19 pandemic has impacted the economic conditions of countries across the globe as several industries suffered due to lockdowns and low demands for non-essential commodities.
The construction industry has also been impacted severely by the pandemic which includes the contractors, manufacturers of equipment, developers as well as supply chain vendors who supply raw materials.
The degree of impact on the construction industry varies according to the infrastructure projects and the region of development. Some important construction projects were not put on hold during lockdown and some countries allowed the projects to continue with 50% workforce.
However, the demand for new construction equipment was low during the year 2020 due to the pandemic.
Companies across the globe primarily China, USA and Italy had closed their manufacturing units which led to a plunge in the production of raw materials such as cement, steel and equipment.
The construction contractors who partner with Chinese companies for raw materials and goods faced a whopping increase in cost of raw materials and goods due to shortage of construction materials which in turn caused many infrastructure projects to cancel.
The transportation of raw materials and equipment for construction activities is the primary service on which an infrastructure project depends, due to the lockdown and pandemic protocols transportation slowed down which caused the delays in the delivery and further cancellation of construction projects.
These reasons have plunged the demand for construction equipment and manufacture of new technologies and heavy duty vehicles. However, governments across the world are implementing strategies to uplift the sector with significant investments and incentives to be levied in the future and help the market recover.
The new Next Generation Cat 906, 907, and 908 wheel loaders from Caterpillar feature a reengineered operator’s station, leveraging exclusive Cat technologies to improve operator experience and provide larger wheel loader model comfort on a smaller platform, building on the success of the Cat M-Series Compact Wheel Loaders.
The updated drive and powertrain, which features the new Cat C2.8 engine, provides quicker roading speeds and drivetrain performance.
In a market where the supply of construction machines is increasingly outpacing demand, Bobcat has established ‘Bobcat Certified,’ the company’s new Certified Pre-Owned Program, which provides customers with a dependable path to buy a quality used machine.
Bobcat Certified strives to provide clients with a ‘like new’ experience by delivering machines of the greatest quality and reliability. To be eligible, machines must meet a set of requirements. These machines are then examined and, if certified, modified to meet Bobcat’s most recent quality and safety standards.
The TTS9000-2, a four-axle truck crane with all-wheel steering and an exceptionally long boom on a lightweight carrier, has been added to Manitowoc’s Grove truck crane lineup. The autonomous steering technology on the 115 USt capacity truck crane assists operators in navigating difficult driving circumstances, whether on busy metropolitan job sites or tiny wilderness roads.
The operator does not have to manually adjust the back wheels, which is one of the model’s main advantages. Manitowoc’s Voice of the Customer process, which incorporates customer insights to improve technical work and product development, is responsible for the better design.
Sennebogen has launched its latest optimised edition of the popular 22 t 818 E recycling all-rounder, which allows for more ecologically responsible and cost-effective material handling and sorting. The compact 822 G material handler is a genuine professional when it comes to recycling, with a reach of up to 10m and a comfort cab that can be lifted as standard.
Following the debut of the first of its kind CASE Minotaur DL550 compact dozer loader, CASE Construction Equipment has continued to make headlines with significant rollouts. The company is now totally reloading its whole line of excavators.
In order to give even greater productivity, operator satisfaction, and operational efficiency while lowering total cost of ownership during the machine’s lifetime, the firm unveiled seven new models of E Series excavators, including two in new size classes.
To make the adoption and growth of precision excavation solutions simpler, the new offering also includes one of the most comprehensive selections of OEM-fit 2D and 3D machine control systems in the sector.
The CX365E SR represents something that our partners have made clear they want, a minimum swing radius excavator in the 3.5 metric tonne or bigger class, and the CX190E is a 41,000-pound machine that meets a very key area of demand for contractors throughout North America.
Honda has unveiled its next generation Autonomous Work Vehicle (AWV). The all-electric Honda AWV has advanced autonomous technology, allowing it to operate in harsh off-road environments.
The truck may operate autonomously or remotely, giving construction fleets greater freedom. Honda said it is investigating the development of attachments and accessories that would let the AWV to be used in a variety of construction or other heavy-duty tasks. An array of sensors, such as radar and lidar for obstacle detection, GPS, and cameras for remote monitoring, are used to enable autonomous operations.
The 20-ton PC210LCE electric excavator from Komatsu is slated to enter the North American market. The excavator is powered by Proterra’s lithium-ion battery technology and has a battery capacity of 451 kWh, allowing for up to 8 hours of operation duration depending on work conditions.
Komatsu is also displaying the PC30E electric mini excavator, which has a 35 kWh battery and a 17.4 kW electric motor, as well as the PC01E electric micro excavator, which was created in collaboration with Honda and is powered by portable and swappable mobile batteries.
The electric wheel loader concept developed in collaboration with Moog Inc. is also on show. The intelligent electrification system from Moog contains an electric traction motor, lift, tilt, and steering cylinders, power electronics, a system control computer, a battery, and a battery management system.
John Deere debuted its new all-electric excavator.The 145 X-Tier E power Excavator idea is a compact machine powered by batteries developed by Kreisel Electric, a pioneer of cooled battery technology in which John Deere has bought a majority ownership.
It incorporates many of the modern technologies and design characteristics seen in other John Deere machines, but with lower emissions and noise. Kreisel also provides charging technologies that helps accelerate battery charging while lowering expenses. When possible, automotive-style charging connections will be used on the 145 X-Tier and future electric machines to allow use of conventional charging stations.
New Holland has also entered the electrification industry with the release of its first commercially available EV equipment, the E15X electric power small excavator with a battery-electric drivetrain.
The 20-ton L120H Electric Conversion, developed in collaboration with partners Parker Hannifin and converted by Volvo Group’s own CE Engineering Solutions, will be commercially available for selected clients in Europe in 2023. The L120H Electric Conversion has the same powerful performance as its diesel equivalent, but with no exhaust fumes and almost silent running.
It has a runtime of about five hours in most medium duty applications and is powered by 240 kWh batteries. It is expected to charge from 0-100% in 1.5-2 hours, which is consistent with Volvo’s existing charging methods. Comfort Drive Control, Load Assist with On-Board Weighing, and radar detection with our new Collision Mitigation System are among the other features.
Volvo CE’s latest electromobility project is a 5.5-t electric excavator designed and produced at the Volvo facility in Jinan particularly for the Chinese market.
This is the company’s first time introducing any kind of concept machine in China, let alone a mature pilot unit suitable for client testing.The EC55 Electric is based on its diesel-powered counterpart, the EC55D, and will provide even superior performance and controllability while also being quiet and emitting no pollutants.
The EC55 Electric achieves improved uptime and a lower total cost of ownership due to 50% lower energy running costs and simplified maintenance requirements. It also has two 350 V lithium battery packs and built-in telemetry.
In order to develop a two-sided online marketplace for the selling and purchase of construction and utility equipment parts, AEM and member firm SmartEquip have reached an agreement. The marketplace will be run by SmartEquip’s technological platform and owned and promoted by AEM.
Equipment owners in the construction and utilities sectors will be able to use original equipment components more widely thanks to the e-marketplace. They will also have simple access to parts catalogues that make it easier to discover and order the right parts for quick repairs.
Beam Global, the top supplier of cutting-edge, environmentally friendly goods and services for energy storage, outdoor media, and electric vehicle (EV) charging, has partnered with Volvo Construction Equipment (Volvo CE) to offer Beam EV ARC off-grid charging systems in conjunction with the purchase of Volvo electric machinery at its 245 North American dealer locations.
With the help of this combined solution, building sites may quickly set up EV charging without the need for electrical work, utility grid connections, or fossil fuel generators to power solar-powered, zero-emission construction machinery.
A collaborative alliance between DCR Technologies and Construction Equipment Guide (CEG) ha
s brought together CEG’s classified equipment listings for approximately 1,700 dealers across the country with DCR’s market-leading origination technology.
The DCR-CEG partnership will allow CEG’s millions of online visitors and customers to apply for financing from vendors who list their equipment for sale on CEG’s six websites, which cover the Agriculture, Forestry, Cranes, Trucks, Trailers, and Construction industry verticals, on multiple platforms, including their cell phones.
The nationwide relationship between XCMG America Financial LLC (XCMG Captive) and QuickFi to finance Xuzhou Construction Machinery Group Co., Ltd. (XCMG) equipment is something that the company is happy to announce. Compaction tools include compactors, excavators, graders, wheel loaders, and MEWPs are made by XCMG and are offered in the United States.
In order to offer financing and leasing options to XCMG dealers and consumers in the United States, a portion of this investment will be used to establish an XCMG Captive Finance Company. By collaborating with QuickFi, XCMG America Financial will be able to provide its U.S. clients with quick, transparent, borrower-friendly equipment financing and leasing services on a fully digital platform.
CNH Industrial, a construction and agricultural technology firm, recently inked an industrial collaboration agreement with Tobroco-Giant, a Dutch construction equipment manufacturer specialising in compact construction equipment.
Tobroco-Giant’s compact and sub-compact wheel loaders will be supplied in North America under the CASE Construction Equipment and New Holland Construction brands as part of the deal, with new models being launched at CONEXPO. CNH’s first electric sub-compact wheel loader is among them.
Komatsu’s New D39i-24 Dozer, 3D Design data can be programmed directly into integrated grade control which enables automatic dozing, and proactive dozing control measures terrain the dozer crosses to plan the next pass so even less experienced operators can automatically cut/strip from existing terrain with intelligent Machine Control (iMC 2.0), 3D design data can be programmed directly into the 105-hp D391i-24, enabling automatic dozing from rough cut to finish grade.
Caterpillar Incorporation has announced collaboration with Rio Tinto, a mining company to develop zero-emission site solutions to help Rio Tinto achieve the goal of net-zero carbon emissions by the year 2050.
The agreement is set to develop the company’s CAT 793 zero-emission autonomous haul trucks to support Rio Tinto’s mining operations in Australia.
The company in August 2021, announced an agreement with BHP which is the leading resources company to develop zero-emission battery powered large mining trucks. The trucks will be built and designed by Caterpillar and facilitate the path towards zero-emissions mining across the globe.
Caterpillar recently announced the financial results for the second quarter of the year 2021 with sales and revenue worth $12.9 billion which was an increase by 29% from the revenue of the same term last year which reported $10 billion.
Hitachi Construction Machinery announced in August 2021, that they have dissolved the joint venture alliance with Deere, the construction machinery giant.
Upon the dissolution of the agreement from March 2022, the company will be able to provide new products and technologies directly to customers through an independent dealer network across north, central and south America.
The company recently announced the financial results for the first quarter of the fiscal year 2022 with revenue worth $2.08 billion which was a 34.1% increase from the revenue recorded for the same term last year worth $1.5 billion.
Hitachi Construction Machinery signed a memorandum of understanding with ABB to explore opportunities and develop machinery targeted towards net-zero emissions for the construction and mining industry.
The company also invested in an Australian startup named Baraja where the company is set to make use of Baraja’s spectrum scan LiDAR technology to accelerate the development of the autonomous haulage system for dump trucks and autonomous operation of ultra-large hydraulic excavators.
Doosan Heavy Industries and construction has entered a contract with X-energy based in the US, which is developing a high temperature gas-cooled reactor. The agreement is set to perform engineering service for manufacturing study of the equipment. The company will support the agreement by performing a study for optimum design.
The company has also signed a contract with China Technology company which is a subsidiary of the state owned energy corporation CGN. According to the agreement, the company will supply industrial anti-seismic protection systems that will be installed at Tianwan units 7&8.
Liebherr, which is the largest company manufacturing construction and mining equipment, has entered into an agreement with ABB, the leader of automation and electrification.
The two companies have signed a memorandum of agreement according to which they will develop solutions for electrification of construction and mining equipment to reduce greenhouse gases and emissions associated with using heavy machines.
The company has also partnered with Hexagon to deliver the next generation software and autonomous technology for construction and mine automation.
Liebherr’s popular mobile construction crane MK 73-3.1 has been acquired by the company Scholpp which is a crane and transport service company. The new crane will be the first of its kinds to be part of a rental construction fleet in Germany.
The company released its report for the fiscal year 2021 which reported a total sales of EUR 10,341 million which was a decline of 12% representing EUR 1,409 million decline for the sales reported for the fiscal year 2020.
The company also invested about EUR 512 million in the research and development department with main focus on development of new products and technologies. The company developed the world’s first fully battery powered crawler crane LR 1250.1 as well as fully electric truck mixers ETM 1005 and ETM 1205.
Volvo Group and Swedish steel manufacturer SSAB have signed a collaboration agreement on research, development, serial production and commercialization of the world’s first vehicles to be made of fossil-free steel.
Plans are for smaller-scale serial production to start in 2022 and for a gradual escalation towards mass production to follow. SSAB aims to start supplying the market with fossil-free steel at a commercial scale in 2026.
John Deere unveiled Precision Construction to further advance its commitment to delivering smart technology solutions to its customers; Precision Construction technology is about delivering more intelligent, connected machines and solutions so that our customers will be able to make more informed decisions, maximize uptime, and get more done more efficiently.
Hitachi Construction & Mining Division, an operating division of John Deere Construction & Forestry Company, rolled out options for grade control technology on select excavators, including 2D Grade Control and Solution Linkage 3D Grade Control, which allow an operator to set a grade and hold it.
The new factory-integrated technology increases efficiency while also lowering daily operating costs by enabling operators to spend less time getting the grade right the first time. Hitachi grade management technology is available on the ZX210-6, ZX210LC-6 and ZX350LC-6 excavators in the US and Canada.
Kohler announces its engines are compliant with the newly introduced China Tier 4 emissions regulations. The new emissions standard will be implemented on December 1, 2022, for industrial engines with a power rating of <560 kW (<751 hp).
John Deere is expanding its SmartGrade range with the launch of the proprietary grade control solution on the 210G LC and 350G LC excavators. The factory-installed and -calibrated 3D SmartGrade system delivers increased productivity and accuracy on the job and provides benefits to contractors at all levels.
Many OEMs are taking a phased approach to electrification, starting by replacing diesel engines with electric motors and batteries. Often, the runtime on a single battery charge is too short.
But adding more battery power to enable longer runtime adds expense, and electrified machines are already more expensive than their diesel counterparts—sometimes up to twice the price. Battery costs are decreasing, but they’re still one of the most expensive components in the machine.
The development of electric power in construction equipment is gaining ground, with Greenland Technologies Holding Corporation, It announced completion of full beta versions of its GEL-1800 Electric Loader, its first electric industry vehicle, along with the intent to transition to construction of pilot production representative versions in the second half of 2021.
Given the challenges associated with electrifying linear services, a large portion of mobile machines—particularly those performing high-power linear load movement—will likely maintain hydraulic systems. While traditional hydraulics are not the most efficient, with the right technology it’s possible to balance machine performance, cost and efficiency.
