Volvo Construction Equipment to open compact division
By Adam FreillConstruction Equipment
Seeing opportunities in the compact equipment segment, Volvo CE is launching a Compact Business Unit.
As part of its ambition to lead the transformation journey through electrification and sustainable power, Volvo CE has set up a dedicated business unit for its range of compact equipment machines and solutions.
The business unit will operate as an independent entity within Volvo CE, and initially be responsible for compact excavators up to 9 tons and compact wheel loaders up to the L50 model.
Thomas Bitter, Volvo CE’s head of technology, will take on the role as head of the Compact Business Unit in September.
“Our pioneering work in electrification and digitalization has positioned us as an innovator in compact equipment. And now because of compact equipment’s ever-growing influence on the market, we are focusing our attention on our compact machine portfolio to provide customers with productive and sustainable products and services,” stated Bitter. “The people who join us in this journey will not only develop specialized skills in this important area but be playing an integral role in our wider purpose of building the world we want to live in.”
An increase in population and urbanization has led to the expansion of the construction sector throughout the globe, with a particularly strong increase in the demand for compact equipment, says the company. The segment now represents half of the total market, compared to 35 per cent a decade ago, with the growth trend likely to continue.
The company says the department will pull from existing Volvo CE staff, as well as bring on external talent.