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The U.S Commerce Department has stated that during the first five months of 2021, construction spending in the U.S. amounted to USD 594.8 billion. The high demand for faster construction of buildings and facilities for the rising population is positively influencing market statistics.
The escalating development of smart cities in the US is one of the major factors driving the increase in the demand for construction equipment. Government initiatives, such as the Smart Cities Project under the U.S. Economic Development Program, are supporting the regional construction equipment market.
The US is a leader in the construction industry due to the increasing investments in the property and expanding infrastructure leading to a surge in construction equipment market revenues. The past few years of data show that commercial and residential construction has been rising and that has been a catalyst in the growth of the construction equipment market.
Component manufacturers are continually developing new products and further enhancing their offerings to provide OEMs with solutions that will best fit their equipment designs and end use customer needs.
A growing global population and increased urbanization will help drive electrification, as well. The construction industry will have a stronger focus on infrastructure and housing projects in urban centers, requiring the use of equipment—particularly compact equipment—which meets standards for reduced exhaust, particulate and noise emissions
Machines that are integrated with advanced technology provide robust monitoring and control facilities assisted by proximity sensors and IoT. The technology also enables efficient control over fuel usage.
The new Noblelift Lithium Iron Phosphate LFP/LiFePO4 electric 60Q and 70Q Series forklifts is designed with an IP4 rating waterproof design for indoor-outdoor applications to contend with traditional IC forklifts while being emissions-free, cost-effective, and designed for energy proficiency.
The John Deere 210G LC and 350G LC Excavators are equipped with the factory-installed and calibrated SmartGrade technology with 2D and 3D grade control options. The SmartGrade system delivers increased productivity and accuracy on the job and provides benefits to contractors at all levels.
Volvo CE Adds Entry-Level Package for Compact Assist Intelligent Compaction System, The Entry-level Compact Assist Start helps customers take the first step into Intelligent Compaction.
In Komatsu’s New D39i-24 Dozer, The 3D Design Data Can Be Programmed Directly, Integrated grade control 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.
CASE Construction Equipment introduced factory-fit machine control on its 750M through 2050M dozers. The new offering includes factory installed and calibrated 2D, dual mast 3D and SiteControl CoPilot precision construction solutions from Leica Geosystems.
The U.S Construction Equipment market is estimated at $XX Billion in 2020, growing at XX% CAGR till 2026.
Technology has been a disruptor in how machines have become more efficient and reduce the cost and labor adoption. The embarkment of new technology into machines makes it smarter, easy to use, automates the processes and also reduces on-site accidents.
Construction industry’s digital workforce management platforms provide real-time information about people’s skills, certifications, location and more, while also communicating project updates to your entire team, or only to those who need to know. Having one source of truth you can access at your fingertips builds confidence within your organization, makes bidding for future jobs more accurate and gives you extra insight into what makes sense for your business.
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.
The expansion of the Internet and mobile connectivity in the US has been a major factor promoting the market growth of material handling equipment and cranes. Internet connectivity is a prerequisite for smart homes and IoT applications. The installation and maintenance of telephone lines are driving the adoption of advanced cranes with pre-installed technologies such as telematics.
The future of the U.S. construction equipment industry would witness substantial growth owing to growing investments by suppliers & manufacturers in the installation of automated equipment in distribution centers and warehouses.
Major players, like Amazon and eBay, are investing significant amounts in the construction of warehouses for storage of inventory. In 2020, Amazon announced that it plans to construct over 1,000 warehouses and delivery hubs in the suburban areas of the U.S. Due to COVID 19, the regional markets have witnessed considerable growth owing to the emergence of e-commerce companies.
Currently the industry is ready to welcome this investment boom as they have been faced with funding uncertainty for years. Profits for many companies tied to the construction or industrial sector are already projected to gain ground over the next several years as the economy recovers. Any spending measure spread out over years will help secure and boost that growth through contracts for projects and orders for supplies and equipment.
Boosting productivity is still a dominant challenge for the engineering, construction and infrastructure sector and with the amount of construction projects declining, companies are looking to redefine their business models to future proof their organization.
Researchers from Baidu Research Robotics and Auto-Driving Lab (RAL), have introduced an autonomous excavator system (AES) that can perform material loading tasks for a long duration without any human intervention while offering performance closely equivalent to that of an experienced human operator.
Caterpillar is rolling out four models in its Next Gen wheel loader line – the 980, 980 XE, 982 and 982 XE. These 9- to 11-tonne (10- to 12-ton) wheel loader class machines include an expanded technology platform to increase machine performance and improve operating efficiency. The XE models will feature a parallel path continuous variable transmission (CVT) that will increase fuel efficiencies up to 35% compared to the previous 980M and 982M powershift models when comparing tons of material moved per gallon of fuel burned.
Doosan Infracore North America showcased a new -7 Series wheel loader at World of Concrete 2021. A new look and all-new, redesigned cabs with enhanced comfort features, increased bucket capacities and new fuel-saving technologies are highlights of this next generation of Doosan wheel loaders. Every -5 Series Doosan wheel loader will eventually be replaced by a -7 Series machine — from the DL200-7 to the DL580-7.
Terex designed the new TRT 80US, an 88 ton rough terrain crane. The model features the TEOS Terex Operating System with an improved interface — increasing flow and efficiency.
Caterpillar announced the latest additions to its Next Generation lineup with the introduction of the 302.7 CR, 303 CR and 303.5 CR compact radius hydraulic mini-excavators, which incorporate “industry-first features” for the 2.7- to 3.5-tonne class. These brand new models replace the 20-year-old 302.7 D, 15-year-old 303 E and 10-year-old 303.5 E2 designs.
Trimble and Doosan Infracore North America, LLC, announced that Doosan will offer the Trimble Earthworks Grade Control Platform for Excavators as an optional factory-installed machine control solution for the North American market.
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