Digitization and New Business Models Powering the Global Construction and Mining Equipment Market, 2030

Digitization and New Business Models Powering the Global Construction and Mining Equipment Market, 2030

Convenience and Reduced Operational Costs Offered by Digital Services to Improve Equipment Utilization and Present Further Growth Opportunities

RELEASE DATE
28-Sep-2020
REGION
Global
Deliverable Type
Market Research
Research Code: MFB2-01-00-00-00
SKU: AU02052-GL-MR_24786
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Description

The global equipment industry is impacted by growing digitalization trends, trends in the used and rental equipment market, and urbanization. Construction contractors are leaning towards deploying both used and rental equipment as opposed to purchasing brand new ones due to lack of funding and government subsidies, and the liabilities associated with equipment maintenance. New equipment come with standalone digital platforms and pre-programmed operations for enhancing convenience and improving efficiency. However, the on-boarding of modern equipment to a seasoned but depleting labor force is a tedious task. Manufacturers are forming alliances with rental agencies and dealerships to commission equipment for specific projects to avoid downtime and improve their market standing.

Digitalization has proved to improve efficiency in operations and convenience for operators in several parts of Europe and Asia-Pacific (APAC) where it has been tested and released into both the urban construction and mining environments. Ease of adoption of modern technology and new equipment is region and application specific, and certain markets are more receptive to modernization than the rest.

Globally, there is a growing need for electric powertrains and the use of alternate powertrains to reduce greenhouse emissions. Equipment manufacturers are employing these new powertrains in their compact machines for use in growing urbanization and residential construction projects, and in mining equipment such as large excavators. The mining industry offers ease of implementation of autonomous technology for dump truck operations; this has been widely implemented in APAC and Europe, and is in the testing phase in North America.

Online portals for equipment and parts sales are having positive effects on equipment purchases and offering services more proactively. There are several OEMs using online channels, dealerships, rental agencies, and other service providers alike. Suppliers are capitalizing on online channels to improve services and sales of aftermarket parts.

This report covers all key trends in the construction and mining industries, as well as region-specific trends impacting new equipment sales and modernization. Equipment in operation (EIO) data is available for all regions. Forecasts of new equipment sales for the total global market, as well as regions, are provided. The impact of the coronavirus (COVID-19) pandemic starting late 2019 and extending through 2020 is assessed for all regions; its impact on construction and mining equipment in particular is reflected in the forecasting methodology adopted. Growth opportunities for key market participants and emerging companies are highlighted by region. Case studies covering modernization in construction and mining are also included.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Top Trends Influencing the Construction and Mining Equipment Market

Competitive Landscape

OEM Market Share

Scope of Research

Research Aims and Objectives

Key Questions this Study will Answer

Off-Highway Vehicles—Segmentation

Trend Assessment

Urbanization—Urban Housing and Residential Sector

Digitalization and New Market Ecosystem

Sustainable Infrastructure

Trend Impact by Region

Drivers

Drivers Explained

Restraints

Restraints Explained

OEM Market Share

OEM Sales Trend

Construction and Mining Industry—Top 4 Trends

Market Forecasts

Discussion on COVID-19 Impact on Forecasts

COVID-19 Impact—United States, Europe, China, and India

COVID-19 Impact—United States, Europe, China, and India (continued)

Digitalization—Key Applications in Construction and Mining

Proliferation of Telematics

Type of Telematics Applications—Range of Services

Telematics—Market Overview

Autonomous Systems

Autonomous Systems—Case Studies

Autonomous Construction Equipment

Autonomous Mining Equipment—Key Pilots

Equipment Rental Trends

Business Models in Equipment Rental

Rental Market Overview

Rental Market Penetration

Demand for Compact Equipment

Compact Equipment—OEM and Product Overview

Hybrid Equipment—System Overview

Electric Equipment—System Schematics

Hybrid and Electric Powertrain—Market Overview

Use Case Analysis for Hybrid and Electric Equipment

Electric and Hybrid Equipment Application and Battery Use Case

Service and Aftermarket Trends

Extended Warranty Programs and Service Agreements

Implications of “Right to Repair” Legislations

Equipment Maintenance Use Cases

Increased Equipment Replacement Rate/Fewer Rebuilds

Connected Diagnostics

Online Channels to Market

Unit Shipment Forecast by Equipment Type

Unit Shipment Forecast by Region

EIO Forecast by Equipment Type

EIO Forecast by Region

Forecast Discussion

United States—Unit Shipment Forecast by Equipment Type

Europe—Unit Shipment Forecast by Equipment Type

China—Unit Shipment Forecast by Equipment Type

India—Unit Shipment Forecast by Equipment Type

RoW—Unit Shipment Forecast by Equipment Type

Forecast Discussion

Growth Opportunity—Technology Evolution in Mature/Nascent Markets

Strategic Imperatives

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Case Study—Liebherr 9200 E

Case Study—Volvo Electric Excavators and Wheel Loaders

Case Study—Hyundai BM4.4E & Wacker Neusen EZ Series Excavators

Case Studies—Flannery Planthire, Cramo, and Ramirent

Digitalization and Proliferation of Telematics

Hybridization and Electrification

Compact Equipment Trends—APAC

Digitalization and Proliferation of Telematics

Rental Market Trends—APAC

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

The global equipment industry is impacted by growing digitalization trends, trends in the used and rental equipment market, and urbanization. Construction contractors are leaning towards deploying both used and rental equipment as opposed to purchasing brand new ones due to lack of funding and government subsidies, and the liabilities associated with equipment maintenance. New equipment come with standalone digital platforms and pre-programmed operations for enhancing convenience and improving efficiency. However, the on-boarding of modern equipment to a seasoned but depleting labor force is a tedious task. Manufacturers are forming alliances with rental agencies and dealerships to commission equipment for specific projects to avoid downtime and improve their market standing. Digitalization has proved to improve efficiency in operations and convenience for operators in several parts of Europe and Asia-Pacific (APAC) where it has been tested and released into both the urban construction and mining environments. Ease of adoption of modern technology and new equipment is region and application specific, and certain markets are more receptive to modernization than the rest. Globally, there is a growing need for electric powertrains and the use of alternate powertrains to reduce greenhouse emissions. Equipment manufacturers are employing these new powertrains in their compact machines for use in growing urbanization and residential construction projects, and in mining equipment such as large excavators. The mining industry offers ease of implementation of autonomous technology for dump truck operations; this has been widely implemented in APAC and Europe, and is in the testing phase in North America. Online portals for equipment and parts sales are having positive effects on equipment purchases and offering services more proactively. There are several OEMs using online channels, dealerships, rental agencies, and other service providers alike. Suppliers are capitalizing on online channels to improve services and sales of aftermarket parts. This report covers all key trends in the construction and mining industries, as well as region-specific trends impacting new equipment sales and modernization. Equipment in operation (EIO) data is available for all regions. Forecasts of new equipment sales for the total global market, as well as regions, are provided. The impact of the coronavirus (COVID-19) pandemic starting late 2019 and extending through 2020 is assessed for all regions; its impact on construction and mining equipment in particular is reflected in the forecasting methodology adopted. Growth opportunities for key market participants and emerging companies are highlighted by region. Case studies covering modernization in construction and mining are also included.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Guruguhan Nataraj
Industries Automotive
WIP Number MFB2-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6