Evolving Equipment: 3 Product Categories Ripe for Growth

Advances in equipment are changing the way operators work on a project. Understanding how the market is changing and recognizing what is coming can give construction companies a competitive advantage.

A few key areas that are anticipated to grow in the years ahead are cranes, hoists and wheel loaders. These will become more advanced due to a number of new, emerging technologies.

Cranes & Hoists See Growth

New reports from Research and Markets are showing that the growth of the crane and hoist market is being driven by a number of factors including the increasing demand in both construction and mining. The largest market is hydraulic cranes, which are largely used in a number of industries such as construction.

One of the biggest challenges here is the fact that there is a skilled manpower shortage to operate the equipment. Highly skilled labor is required on this type of equipment to mount components and harness cables.

Wheel Loaders Advance

In another report, Research and Markets anticipates the wheel loader market will grow and advance due to a number of different factors.

  • Trend toward telematics in construction: Telematics will become more common on wheel loaders in the months ahead. Operators can leverage the data from equipment to understand how it is performing, thus being able to make real-time decisions from the field.
  • Rental market growth: Wheel loaders and tracked excavators are very expensive and require a high initial investment, which makes renting an appealing option for many construction companies that have short duration or small-scale projects.

These are just some of areas that are going to change and evolve in the coming months, requiring operators to stay up-to-date on the new equipment advances that will change the jobsite of the future making it more productive.

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