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SELBYVILLE, Del., May 27, 2021 /PRNewswire/ Global Market Insights Inc. has recently added a new report on the construction equipment market which estimates the market valuation for construction equipment will cross US$ 155 billion by 2027. The market is anticipated to show significant growth owing to the rising development and construction of residential and commercial infrastructures globally. The increasing demand and deployment of construction equipment to reduce the labor cost and manual efforts are also contributing to the market growth.
Construction Equipment Market size is set to surpass USD 155 billion by 2027, according to a new research report by Global Market Insights, Inc.
Electromobility Is Heading Off Road With Electric Construction Equipment
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Electric car sales
The Volvo L25 Electric wheel loader on site in California with early adopter Baltic Sands Inc.
The Volvo L25 Electric wheel loader on site in California with early adopter Baltic Sands Inc.
But quietly in the background, electric vehicles (EVs) have been heading off the road and onto construction jobsites. The construction industry has a key role to play in decarbonization efforts. The buildings and construction sectors combine to account for 38% of carbon dioxide emissions worldwide, according to a United Nations report.
Tue May 25, 2021 - National Edition
Volvo Construction Equipment
Heavy equipment like excavators and wheel loaders are just now becoming available in electric options, and as with the transportation sector, EVs are ushering in a new era.
Electric car sales are increasing every year, more and more cities are using electric buses, and the first generation of electric trucks is hitting the highways when it comes to electromobility, a lot of the early progress has been seen on the roads.
But quietly in the background, electric vehicles (EVs) have been heading off the road and onto construction job sites.
The construction industry has a key role to play in decarbonization efforts. The buildings and construction sectors combine to account for 38 percent of carbon dioxide emissions worldwide, according to a United Nations report.