A recent upswing in global construction equipment sales has buoyed manufacturers, many of which are now making fresh investments in new technologies. For Volvo Construction Equipment, that means an opportunity to invest in experimental technologies that will help it reach the goals of drastically reducing the rates of accidents, emissions and downtime in the industry.
“We won’t have that typical product development cycle of five to ten years anymore,” says Martin Lundstedt, CEO and president of Volvo Group, which owns Volvo Construction Equipment, in a conversation with trade press on May 19. “The market must do constant iterations with their customers, because to get the benefits of new technology you must work with that production flow to keep up.”