Increased investments in transport infrastructure development projects in countries such as India and China are expected to spur the demand for construction equipment, says a research study on global market by the London-based Technavio.
“Increased investments in transport infrastructure development projects such as roads, highways, metro construction in countries such as China and India are expected to spur the demand for construction equipment, including handling and lifting equipment,” said Soumya Mutsuddi, one of Technavio’s lead analysts for construction research.
“Handling and lifting equipment manufacturers are focusing on the development of new and advanced equipment. Additional emphasis is being laid on safety and control systems that are currently being installed in handling and lifting equipment.
“With the growing demand for high rises, builders and companies involved in construction, particularly find it difficult to lift heavy materials and loads to greater heights, and material lifting operators face many difficulties during the swaying of loads.
Hence, construction equipment manufacturers are trying to improve efficiency with heightened protection at work sites,” said Soumya.
In 2015, the global markets for cranes was valued at US$61.14 billion, forklifts at US$44.61 billion, conveyors belt at US$29.01 billion,
Technavio is a leading global technology research and advisory company, which develops over 2,000 pieces of research every year, covering more than 500 technologies across 80 countries. fii-news.com
