The construction machinery industry experienced sales of approximately $15.4 billion last year. Power cranes, draglines, and excavators, are some of the products that ICI provides to the construction industry.
Customers within the market consist of commercial construction companies, equipment rental and leasing companies, general construction firms, and to a lesser degree, adjacent market segments such as mining, industrial, agricultural, forestry, and waste management companies. Of these, commercial construction companies are the dominant consumers of ICI’s products as they have the greatest need for precision controlled equipment.
One of the more recent trends in the construction machinery industry is to create more and more specialized equipment for the various market segments and to focus research and development on providing multitask machinery that is attractive to the companies with less market capitalization. ICI is well positioned to be the industry leader in focusing on these trends and being the first to market with innovative designs reflecting these changes.