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Global Construction Equipment Market to Grow at a CAGR of 5.30%, during Forecast Period | BlueWeave Consulting

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New Delhi, Sept. 26, 2022 (GLOBE NEWSWIRE) — Global Construction Equipment Market is flourishing owing to rapid urbanization, increasing infrastructure construction in developing countries, and population growth as well as urban migration all contribute to market expansion.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Construction Equipment Market was worth USD 171.4 billion in the year 2021. The market is projected to grow at a CAGR of 5.30%, earning revenues of around USD 245.3 billion by the end of 2028. The Global Construction Equipment Market is booming because of the increase in government spending on infrastructure development, rising demand for smart city projects that call for a lot of construction equipment, and newly formed emission regulations to kickstart advancements in OHV engine & exhaust technologies. The need for construction equipment has significantly expanded as a result of modernization and technological advancements in highly regulated industries, such as the military and railroad operations. The several types of construction equipment include those used for hoisting, excavation, hauling, grading, paving, drilling, and pile driving. However, supply chain and inventory issues, combined with semiconductor shortages, are anticipated to stymie industry expansion in the coming years.

Equipment Rentals might Generate Excellent Opportunities

Individual firms and heavy construction equipment manufacturers have turned to equipment rental to meet the rising demand for heavy equipment in the construction industry. Renting construction equipment has various advantages, including the fact that the equipment is well-maintained and reliable, that no capital investment is required, and that no service or maintenance fees are incurred. Furthermore, businesses can test and assess new heavy construction equipment types before making a purchase decision. Manufacturers can profit from the power and precision of cutting-edge technology while also saving money. Because they are subjected to regular maintenance checks, these pieces of equipment require no maintenance, and rental companies include maintenance in their contracts. As a result, the Global Construction Equipment Market is predicted to develop at a significant rate during the forecast period (2022-2028).

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Industrialization and Rapid Urbanization Fuel Market Expansion

Rapid urbanization and industrialization, particularly in developing nations, promote economic growth, job opportunities, and national development. Designing energy-efficient structures for a sustainable future also bring about socioeconomic and environmental transformations. For instance, the Sardar Patel National Urban Housing Mission, the Atal Mission for Rejuvenation and Urban Transformation, the Clean India Mission, the National Urban Information System, and the National Heritage City Development and Augmentation Yojana are all driving forces behind urbanization in India. Due to the modern technical technology used for fuel injection and engine cooling, the usage of heavy construction equipment is essential to the urbanization and industrialization of society. High digging strength, dump heights, dump depths, engine horsepower, ground clearance, and other variables are also crucial when choosing heavy construction machinery. This results in offering lucrative opportunities for the Global Construction Equipment Market during the forecast period (2022-2028).

Challenge: Regulations and Rules Governing International Trade

Construction equipment manufacturing, import, and export laws and regulations vary by nation. Different import taxes are levied by nations to prevent unfair trade practices and benefit domestic producers. Governments typically sign bilateral trade agreements to lower tariffs and obstacles to a free trade zone or single market. Although this can be advantageous, it might also result in more foreign competition. The impact of foreign affairs on trade is greater. Commerce agreements may be stopped in the event of conflicts with other nations, or the worst-case scenario, restrictions may be imposed, limiting trade entirely. Consequently, the effects of international trade policies and restrictions result in variables that prevent sales.

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Segmental Coverage

Global Construction Equipment Market – By Application

Based on application, the Global Construction Equipment Market is segmented into Commercial, Residential, and Infrastructure. Due to growing industrialization and foreign direct investments (FDI) for various global manufacturing facilities in developing countries, the industrial application segment is predicted to experience steady expansion shortly. Commercial infrastructure development in both developed and emerging nations is probably going to show a sizable global market. The market is anticipated to increase steadily for applications in the residential sector due to the rapid population growth in Asian and African nations. All these factors boost the growth of the Global Construction Equipment Market during the forecast period (2022-2028).

Impact of COVID-19 on Global Construction Equipment Market

The COVID-19 outbreak had a significant impact on construction activity in 2020. Construction activity quickly decreased as a result of the brief lockout brought on by the COVID-19 virus’s quick proliferation. The OEMs observed problems in the supply chain and brief dealer store closures that precluded new sales. However, demand for construction equipment dramatically increased in 2021 as construction for both ongoing and new projects resumed. Lower housing costs contributed to rising residential area demand, which raised equipment demand. The market is also unstable because of increased COVID-19 infections brought on by the new variety of Omicron, high steel and aluminum prices, and a lack of semiconductors.

Competitive Landscape

The leading market players in the Global Construction Equipment Market are Caterpillar, CNH Industrial N.V., Doosan Corporation, Escorts Limited, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., J C Bamford Excavators Ltd., Deere & Company., Kobelco Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr-International AG, Manitou BF, Hidromek, Sany Heavy Industry Co., Ltd., Sumitomo Heavy Industries, Ltd., Terex Corporation, Volvo AB, Zoomlion Heavy Industry Science and Technology Co., Ltd, and other prominent players.

The Global Construction Equipment Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Don’t miss the business opportunity in the Global Construction Equipment Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Construction Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Construction Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Development

  • In June 2022, Liebherr Australia and Fortescue (Australia) partnered to develop mining haul trucks to add zero-emission power system technologies. The partnership will draw from Liebherr’s industry-leading equipment and technology and FFI’s expertise in green technologies to deliver zero-emission mining equipment.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in USD Billion
Product Service/Segmentation By Equipment, By Application, By Propulsion Type, By Emission Regulation, By Power Output, By Engine Capacity, By Region.
Key Players Caterpillar, CNH Industrial N.V., Doosan Corporation, Escorts Limited, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., J C Bamford Excavators Ltd., Deere & Company., Kobelco Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr-International AG, Manitou BF, Hidromek, Sany Heavy Industry Co., Ltd., Sumitomo Heavy Industries, Ltd., Terex Corporation, Volvo AB, Zoomlion Heavy Industry Science and Technology Co., Ltd, and other prominent players.

By Equipment

  • Earthmoving Equipment
  • Loaders
  • Excavators
  • Backhoe
  • Loaders
  • Compactors
  • Others
  • Material Handling Equipment
  • Cranes
  • Industrial Trucks
  • Road Rollers
  • Others
  • Heavy Construction Equipment
  • Concrete Pumps
  • Crushers
  • Transit Mixers
  • Asphalt Pavers
  • Batching Plants
  • Others

By Application

    • Commercial
    • Residential
    • Infrastructure

By Propulsion Type

    • Diesel
    • CNG/LNG/RNG

By Emission Regulation

    • Stage II
    • Stage III
    • Stage III A
    • Stage IV
    • Stage V
    • Stage VI
    • Tier 4
    • Tier 5

By Power Output

      • <100 HP
      • 101–200 HP
      • 201–400 HP
      • >400 HP

By Engine Capacity

      • <5L
      • 5L-10L
      • >10L

By Region

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

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About Us 

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

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Artificial Intelligence

Picus Security Launches Security Validation for Kubernetes

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Teams can eliminate container security exposures with the new enhancements in Picus’ platform for multi-cloud
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Picus Security, the Security Validation company, today announced security validation for Kubernetes. This new capability allows Security and DevOps teams to realize the benefits of containers securely by proactively measuring and optimizing the resilience of clusters. It is the latest innovative addition to the Picus Security Validation Platform, which empowers users to consistently validate their security posture and measure risk across on-premises and multi-cloud environments.

For organizations that want an agile way to deploy, run and scale applications, Kubernetes offers considerable benefits. However, security is often the biggest barrier to its adoption. The dynamic and complex nature of Kubernetes means that containers are often misconfigured due to human error. Without a hands-on approach to governance, security gaps can easily emerge over time, increasing the risk of incidents. This situation is exacerbated by the high level of expertise required to secure Kubernetes and the use of default settings which are inherently insecure. According to The State of Kubernetes Report, more than two-thirds of Kubernetes users (67%) have delayed deployments due to security concerns.* 
The addition of Kubernetes validation extends the Picus platform’s existing validation capabilities, which are powered by attack simulation and GenAI. It enables organizations to proactively identify and mitigate security misconfigurations, such as weak policies and settings that could allow containers to run with insecure privileges and facilitate lateral movement. Now security teams can automatically assess the security of their workloads wherever they are located – on-premises, in containers, and also in cloud platforms including Amazon Web Services, Google Cloud Platform, and Microsoft Azure.
“Cloud security is perhaps the biggest barrier of entry for organizations that want to take advantage of container orchestration,” said Volkan Erturk, Picus CTO and Co-Founder. “Kubernetes offers incredible opportunities for DevOps teams to deploy and scale new applications, but Security teams can struggle to keep pace.
“With the Picus Security Validation Platform, security concerns won’t slow down an organization’s digital transformation journey. This new offering will allow our users to consistently measure the security of their workloads and vastly reduce the effort needed to address exposures across growing IT environments.”
Additional Information
Read the Kubernetes validation announcement blog.Register for the upcoming webinar on July 11th 2024 at 10.00 EST/ 15.00 BST: Beyond Cloud Security Posture Management: Validating Cloud Effectiveness with Attack Simulation About Picus Security
Picus Security helps security teams consistently and accurately validate their security posture. Our Security Validation Platform simulates real-world threats to evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in delivering the actionable insights our customers need to be threat-centric and proactive. 
Picus is a Gartner® Peer Insights™ Customers’ Choice for 2024 in the BAS tools category†. The company is recognized as a leader by Frost & Sullivan^.
† Gartner, Voice of the Customer for Breach and Attack Simulation Tools, Peer Contributors, 30 January 2024 ^ Frost and Sullivan, 2022 Frost Radar™ report for the Global Breach and Attack Simulation Market
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Artificial Intelligence

Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled

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As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.

Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today. 
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE.  At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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Nord Anglia Education publishes new insights on the role of AI and metacognition in learning

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LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.

Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go. 
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected] 
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.  
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.  
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.  
To learn more or apply for a place for your child, go to nordangliaeducation.com.
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