Oct 20, 2020

Trillions: A Global Construction & Manufacturing Projection

construction
Manufacturing
Economics
Industry 4.0
Oliver Freeman
3 min
A construction worker at manufacturing plant.
The COVID-19 pandemic has persuaded the construction and manufacturing industries to adopt cutting-edge technologies in multiple processes...

If you haven’t read Allied Market Research’s latest report, titled, COVID-19 Impact Analysis on Construction & Manufacturing Industry: Global Opportunity Analysis and Industry Forecast, 2020-2022, we’ve got some interesting news for you! The report announced that the global construction and manufacturing industry generated a whopping US$14.4tn in 2019, and is projected to reach US$14.9tn by 2022, growing at a CAGR of 5.2 percent from 2020 to 2022. 

We’re going to break it down, now! 

The Global Construction and Manufacturing Market

The global construct market was pegged at US$9.5tn in 2019 and is expected to to reach US$9.77tn by 2022, growing at a CAGR of 4.5 percent from 2020 to 2022. In the other half of the report, we found that the global manufacturing industry accounted for US$4.92tn in 2019, and is expected to hit US$5.08tn by 2022, growing at a faster CAGR of 6.7 percent during the forecast period. 

The building construction segment took the lions share of the market in 2019, accounting for more than one-third of the global construction market, owing to the demand for home automation products such as automatic doors to ensure less contact with solid objects in both houses and commercial spaces. However, the construction services segment is expected to manifest the highest CAGR of 6.9 percent during the forecast period. 

The COVID-19 Effect

In Construction

The COVID-19 pandemic caused a myriad of issues across the construction and manufacturing industries, with global supply chains faltering and work coming to a complete halt, in many cases. The prolonged period of lockdown affected the supply and distribution of raw materials for the construction of buildings and commercial places. However, this particular problem has pushed industry-leaders to adopt technology platforms and solutions that can tackle the pandemic-related challenges head-on. 

In Manufacturing

For the manufacturing industry, COVID-19 was a harsh and unexpected kick; the pandemic and the sudden strain that manufacturers faced proved to be the wake-up call that they needed. Many organisations jumped, as fast as they could, onto the Industry 4.0 tech tsunami, which has the capability to withstand the storm. Turns out, people just needed one final push ─ COVID-19 provided. 

The Equipment and Machinery Segment

The equipment and machinery segment truly dominates the manufacturing space, at the moment, accounting for nearly three-fifths of the global manufacturing industry in 2019, owing, primarily, to the adoption of technology platforms and solutions to address consumer demand. However, in a world that is working towards more sustainable solutions for the sake of the environment, the packaging sector is becoming an increasingly important factor; unsurprisingly, the packaging segment is expected to “portray the highest CAGR of 8.1 percent during the forecast period.” 

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May 10, 2021

Lion Electric to Construct US EV Manufacturing Facility

ElectricVehicles
SmartManufacturing
Sustainability
Technology
Georgia Wilson
3 min
Lion Electric |Smart Manufacturing | Sustainable Manufacturing | Electric Vehicles | Electric School Buses | Electric Medium and Heavy Duty Vehicles | Sustainability | Technology | Freight | Transportation
Lion Electric announces its selection of Illinois to construct its all-electric medium and heavy-duty urban vehicle manufacturing facility...

Who is Lion Electric?

Founded in 2008, Lion Electric is an innovative manufacturer of all-electric, zero-emissions, medium and heavy-duty urban vehicles. Lion Electric designs, manufactures, and assembles all components for its vehicles that have unique features specifically adapted to the users and their needs. “We believe that transitioning to all-electric vehicles will lead to major improvements in our society, environment and overall quality of life,” believes Lion Electric. 

Lion Electric’s new Illinois Manufacturing Facility

Just two months after announcing plans to construct a battery manufacturing plant and innovation centre in Quebec, Lion Electric is expanding its locations further, selecting Joliet, Illinois for its new manufacturing facility in the US.

The new facility is said to “represent the largest dedicated production site for zero-emission medium and heavy-duty vehicles in the US,” as well as being the company’s biggest footprint in the market. The new facility will give Lion Electric the capacity to meet increasing demand for ‘Made in America’ zero-emission vehicles and bring production closer to customers. 

It is expected that the first vehicles off the production line will be in the second half of 2022.

“Lion’s historic investment to bring its largest production facility to Illinois represents not only a win for our communities, but a strong step forward in our work to expand clean energy alternatives and the jobs they bring to our communities,” said Gov. J.B. Pritzker. 

“The new Joliet facility will put Illinois at the forefront of a national movement to transition to zero-emission vehicle use, advancing our own goals of putting one million of these cars on the road by 2030. In Illinois, we know that a clean energy economy is about more than just vehicles – it’s about healthier communities and jobs for those who live there. We are excited to welcome Lion to the Land of Lincoln and look forward to their future success here.”

Lion Electric’s Agreement with the Government of Illinois

Over the next three years, Lion Electric will invest a minimum of US$70mn into Illinois. The new facility - totalling 900,000 square feet - is expected to create a minimum of 745 clean energy direct jobs in the next three years, and have an annual production capacity of up to 20,000 all electric buses and trucks.

Scaling electric bus production and decarbonising freight and transportation

As the US moves to electrifying its school buses, the additional production capacity at the facility will help Lion Electric to scale its electric bus production, as well as produce an increased volume of heavy-duty zero-emission trucks to help governments and operators in the US further the decarbonisation of freight and transportation fleets.

“Lion is the leader in electric school buses and has always been dedicated to the U.S. market, and our commitment to be close to our customers is one of the core values we have as a company. This significant expansion into the U.S. market will not only allow us to drastically increase our overall manufacturing capacity of electric trucks and buses but to also better serve our customers, while adding critical clean manufacturing jobs that will form the backbone of the green economy,” said Marc Bedard, CEO and Founder of Lion.

“I also want to acknowledge the crucial role that P33 and Intersect Illinois, civic groups committed to developing developing a long-term roadmap for the local tech industry, played in connecting Lion with the Chicago area’s business and civic community to help further commercial traction, as well as engagement with key workforce and supplier partners.” 

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