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2022: Deliveries of construction equipment with Internet connection increased by 6.7% over the year. Leaders
In 2022, the global supply of connected construction equipment capable of exchanging data via the Internet increased by 6.7% compared to the previous year. Such figures are contained in the report of the research company Counterpoint Technology Market Research, published on April 27, 2023.
Illustration: tataelxsi.com
The growth in demand for connected machines is observed against the background of a decline in the market as a whole. The slowdown in construction activity in China had a negative impact on the industry. However, due to an increase in the average sale price (ASP) by 10% on an annualized basis, the total market volume in 2022 rose by 3% and reached $213 billion. The ASP increase is explained by difficulties with supplies, as well as the expansion of functionality and the introduction of electrification.
In 2022, every third construction machine sold had the ability to exchange data via the Internet. The equipment created to solve such problems as excavation, loading and unloading, movement of materials and demolition are taken into consideration. Construction machinery also includes mining equipment. Engineering and construction projects are complex and difficult to manage, and connected machines, analysts say, help measure construction activity, which is considered a barometer of economic prosperity for any region.
The rating of leading suppliers of construction equipment with Internet access in 2022 was headed by Caterpillar with a share of approximately 20.7%. In second place is XCMG with 17.8%, and Sany closes the top three with 8.4%. Komatsu is in fourth position, showing a result of about 7.5%. Fifth place went to Volvo - 5.6%. Thus, together, these five manufacturers control 60% of the global market for connected construction equipment.[1]
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