Canada is an important market Canada’s construction equipment market is estimated to reach “US$4.85 billion and a volume of 39,484 units by 2027” according to a report published this month by Research and Markets, which is significant growth from today’s estimated US$3.8-billion market.
The growth projected in Canada indicates an opportunity for electric heavy-machinery, if production can scale quickly, to meet the need and begin transitioning the industry in earnest. It’s an opportunity that Volvo recognizes and is trying to capitalize on by rapidly rolling out its North American electric machinery line and making Canada an early target market.