Page 31 - CO_February_2022

CONSTRUCTION EQUIPMENT
LEAD STORY
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Fast Facts
 Big machines don’t always work well in inner cities, so
one product category we see growing fast is compact
equipment, especially mini excavators, and compact
tracked loaders.
 According to Mordor Intelligence study estimates, the
crane market was valued at $33 billion in 2020, and
is expected to reach $48 billion by 2026, registering a
CAGR of around 6.26%.
 The backhoe loader market accounts for ~7% market
share in total sales of the construction equipment
industry globally.
 India is the largest market for backhoe loaders,
accounting for almost 50% of all construction
equipment sales in unit terms.
 According to Fortune Business Insights, the global
excavators market size is expected to reach $63.14
billion by 2026 while exhibiting a CAGR of 4.7% by
2026.

Electric and autonomous construction equipment
Electrification is shaping the construction equipment market
and offering significant opportunities and design possibilities.
Electrification has been increasing in most market segments such as
cars, buses, etc., including construction equipment. This has been
made possible as advanced technologies are increasingly mature
and affordable as they are also increasing regulations on emissions
that have changed the future of the construction equipment
industry. Several cities around the world have announced bans
on the use of diesel within city limits, impacting the operation
of construction equipment in these cities. Also, stricter emission
regulations are being implemented for heavy machinery and
equipment on the global, regional, and local levels in China and
European countries. The emission and noise-pollution standards
implemented by these regulations can be easily overcome with the
use of electric construction equipment. This offers opportunities for
construction manufacturers for the introduction of electric variants
of existing/new products in the market.

Wheeled Loader> 80HP segment is estimated to be the largest
market
By equipment type, the wheeled loader >80 HP segment is
estimated to dominate the construction equipment market.
These equipment are used primarily to load/unload and bulk
material movement in construction, quarry, and crushers. They are
widely used in large scales infrastructure projects such as roads
and highways, railways, dams, ports, and airports. An increase in

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