Innovation in construction equipment and its flow into the construction industry

The rate of innovation in construction equipment is measured by using two variables over a 30-year period, 1962-92: The number of new models introduced every year and the technological life of eight earthmoving equipments are considered in this study. The findings indicate that the rate of innovation in the construction equipment industry increased in the 30-year study period. The findings also suggest that these innovations are incremental in nature, stimulated by technological advances in other industries, but primarily driven by market forces. Technological advances are not confined to the industry that produces innovations. The mapping of the interindustry flow of innovations highlights that while construction companies play a predominant role in generating their own technological innovations, they are also heavily dependent on other industries, such as the construction equipment industry for the flow of technical system innovations. As such, the continuous and incremental innovations in the construction equipment industry are bound to act as a catalyst for the generation of technological advances in the construction industry.