Top Trends in the Construction Equipment Market
The recent increase in the number of construction activities around the globe leads to the path towards development. Development is a never-ending process, which is why there is always some form of construction going on somewhere. This, in turn, increases the demand for construction equipment, not only in terms of volume but also to innovate and evolve. Manufacturers are constantly innovating and bringing innovations to markets of all sizes and types. Additionally, mobility solutions have also been keeping pace as construction equipment continues to evolve.
The complexity of user demands
The construction industry is getting more and more efficient with new technologies. Today, it comes as no surprise that companies are able to build skyscrapers in a matter of few months. However, to build such marvels, complicated construction equipment are required. Users are demanding more efficiency, versatility, and durability from construction equipment. For instance, tires and tracks comprise the most expensive consumable items in a construction equipment. Contractors use such machines on a wider range of work and are under the pressure to deliver timely performance without compromising on durability. Additionally, they also want to get the highest amount of work done from machines with little capital and maintenance cost. Manufacturers are also leveraging the use of tire tracking software to help increase the awareness of the current situation and help predict future issues to minimize hourly costs.
Tracked construction equipment
To boost the performance of heavy machinery construction equipment, users are increasingly adopting tracks over tires. It is also evident in numerous industry reports which outline the growth of compact track loaders in comparison to traditional skid steers. The trend is evident in the rental, construction, and agricultural sectors. Tracks provide wider footprint better pulling power, more torque, and enhance the maneuverability and stability of the equipment. Such trends are even more prominent in places where seasons change drastically. Such tracked construction equipment usually costs less than tires and offers undeniable advantages. Additionally, manufacturers have come up with over-the-tire track (OTT) solution, which can convert a skid steer loader into a compact track loader within minutes.
Rising popularity of rentals
Let’s face it, all companies are on the lookout to cut their cost base. Sometimes it makes sense to rent the construction equipment than to make a purchase. For one, they avoid all the maintenance and depreciation costs. Also, they can make sure they make optimal use of the equipment. Buying and maintaining a large fleet of equipment carries a substantial financial burden and risk for the company. Renting out an equipment can provide companies with the flexibility to use it when needed without having to bear a huge capital expenditure.
Use of radial tires
Using construction equipment such as wheel loaders, backhoe, and motor graders to move between the local job sites is not uncommon in North America and Europe. It offers contractors productivity advantages as floating the equipment from site to site is often cumbersome. As a result, radial tires are gaining popularity as it offers better ride quality, decreased heat build-up, and reduced tread wear on hard surfaces.
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