Machinery Manufacturing Industry
The need for affordable housing is growing, but it’s not just because of the population increase. Housing demand will rise disproportionately due to demographic changes brought on by an ageing population and the rise in single- and two-person households. the sheer growth in people will drive demand for high-performance infrastructure in public transport and freight logistics.
In constrained metropolitan areas, more people need to be provided with more necessities. As a result, infrastructure solutions will become increasingly sophisticated in the future. Participants in the study as a whole believe that the growing number of infrastructure projects will have a significant impact on the construction machinery sector in the years to come.
Global population increase and the rising need for high-performance infrastructure both have an impact on one of the lowest productive sectors of the economy. The price-adjusted productivity growth per hour of employment increased across all economic sectors in terms of the amount of labour.
The construction industry’s productivity increased in the same period, which effectively indicates a standstill. Numerous reasons contribute to the low productivity in the building industry. However, studies have found that the main causes are a lack of technological investment, a lack of prefabrication and standardisation, as well as a general lack of supply chain coordination.
Due to this circumstance, there will be a supply and demand imbalance in the housing and commercial construction industries. In order to meet the rising demand of a developing society and to obtain a competitive edge in the construction industry by generating more income at the same time, the construction machinery sector must strive for higher productivity.
In future, urbanisation will have resulted in 60% of the world’s population, or 6.3 billion people, residing in urban areas.
As a result, the aforementioned housing demand will be concentrated in pre-existing and newly growing urban centres rather than globally. In an era of constant discussion about climate change and emission reduction, regulatory measures are being implemented to limit the global climate effect of building activity while also increasing urban liveability by reducing local pollutants and noise emissions.
As a result, several regional governments have enacted municipal rules governing the particle, CO2, and noise emissions of construction equipment used in public works projects. Furthermore, a growing number of governments have begun to charge for CO2 emissions.
Users and producers profit from connected construction machines of both building and heavy machinery. these advantages may be packaged with new service offers and business strategies Fleet operators will track and manage their fleets remotely via online service platforms, while manufacturers will use AI to analyse billions of data points for predictive maintenance, mending the equipment even before it goes down. This enhances production by avoiding waiting hours for maintenance services or new machinery.
Because this market segment is still developing, construction machinery manufacturers have the opportunity to enter the robotics industry and give their clients novel solutions for boosting productivity and lowering costs on building sites. Collaboration with major industrial robot manufacturers such as KUKA, ABB, or Fanuc to produce adaptable construction robot cells for individual requirements is one way to enter this industry. A machine-to-machine communication platform will be necessary to enable robots to connect with other machines along the value chain in order to ensure long-term success and smooth integration of robots in the construction environment.
Read more Blog: Automobile Industry in India and Top Companies
Construction machinery electrification
Construction machinery operators benefit from lower fuel use through electro-hydraulic systems, making machines more cost-efficient. Replacing combustion engines with electric power trains necessitates significant development and investment on the part of construction machinery makers. But it also has ramifications for their business models. Electric power trains have fewer components and require less upkeep than combustion engines. This means fewer income streams from service contracts. Battery electric machines, on the other hand, provide prospects for new business models, such as battery rental or charging contracts created in the forklift sector.
Why is plant and equipment maintenance important?
Plant and equipment will be more dependable with an effective maintenance schedule. Fewer failures imply less unsafe interaction with machinery, as well as the monetary advantages of increased production and efficiency.
When machinery becomes unreliable and develops flaws, more risks might arise. Maintenance enables these defects to be identified early, allowing any hazards to be managed. Unsafe maintenance has resulted in several fatalities and major injuries, either during the maintenance process or to individuals who utilise the poorly kept or incorrectly maintained/repaired equipment.