Page 32 - CO_February_2022

LEAD STORY CONSTRUCTION EQUIPMENT

Powered by

roadways and residential buildings in China and India is driving are effectively trying to tighten up the construction equipment
the demand for these equipment. Government initiatives in supply chain and achieve higher efficiencies.
infrastructure development have further anticipated the demand
for wheeled loaders. Increasing expanse of rental equipment
The renting or leasing of construction equipment has been
The 100-200HP segment is projected to be the largest market on the rise, owing to the equipment cost and the cost of the
Construction equipment with this power output allows maintenance process. Apart from the cost, there are also other
manufacturers to improve machine capability and downsize the benefits associated with renting the construction equipment.
engine to one of lower displacement. This reduces maintenance Rental companies provide the machinery, with the required
costs and improves fuel economy and better component layout. professional machine operators and drivers included in the
Construction equipment with a power output range between 100- rent. The construction industry is getting smarter. Digitalization,
200 HP is primarily suitable for road, airport construction projects, connectivity and automation are driving the development
and commercial projects. forward, leaving a substantial impact on construction projects.
Moreover, renting companies geared up in investing in new
Earthmoving Equipment segment to hold the largest market technologies to cope with the growing demand for advanced
share construction machinery and replace the older ones with new or
Excavators (crawler and wheeled), loaders (backhoe, skid-steer), upgraded machinery fleet.
and motor grader are considered as designed for constuction
activities. These equipment are designed for construction Excavators – On a Steady Growth Path
activities. Asia is projected to account for the largest share of The growth of the excavator market is majorly driven by huge
the earthmoving equipment market in terms of value by 2026. investments in infrastructure projects and commercial activities
The increasing urban population and the demand for better such as mining which have led to an increased use of excavators.
infrastructure facilities are creating significant growth opportunities Stringent regulations relating to emission control have led to
for the earthmoving construction equipment. A significant market the development of environment friendly equipment, which is
trend observed is the ongoing shift from traditional equipment expected to drive the demand of market in the future. Rising
to automated equipment as consumers are retrofitting and collaboration between rental fleet owners and excavator
renovating the old technology. In order to increase productivity manufacturers are also expected to drive the growth of the
across the construction industry, the prominent and strong players market as they provide excavators at very low cost. The emphasis

36 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2022