The construction industry is a relatively stable sector and has been slow to change in the past. Yet as new problems and opportunities arise, construction firms that adopt certain trends stand to benefit. From digital technology to lower-cost construction methods, here are four construction industry trends to watch out for.
A popular trend in recent years is prefabricated or modular construction. In contrast to traditional construction, the building process in prefabricated construction is conducted at least partially off-site. Component pieces are then transported and assembled on location.
The benefits of modular construction include reduced labor requirements and cost of materials. Plus, modular buildings have become taller and more complex in recent years, allowing them to meet more sophisticated client needs. Now is a good time to start implementing modular construction practices.
Digital technology is bringing increased efficiency to the construction industry. On a job site, you may find innovative technologies such as drones for mapping and monitoring work sites, augmented reality for visualizing building models and GPS-equipped boots for locating workers in danger.
Robotics is also finding use in the construction industry. Rather than decreasing the number of human jobs, robots work alongside people and reduce the amount of straining and potentially dangerous physical labor. If implemented thoughtfully, robotics could lengthen the average construction worker's career.
Many construction firms place increased emphasis on sustainability, and for good reason — buildings and construction operations are responsible for almost 40 percent of global greenhouse gas emissions. Construction companies are working hard to reduce their carbon footprint and design more energy-efficient buildings.
Today, more clients expect LEED certification — a building must meet certain standards for energy efficiency, water usage, air quality and land and materials use. As a result, you can expect the green construction movement to stick around for the foreseeable future.
The global construction equipment rental industry is growing and expected to surpass $140 billion by 2024. The trend toward equipment rentals is driven in part due to industry concerns like skilled labor shortages and rising costs of materials. Machine rental allows for reduced maintenance concerns and the ability to test out new equipment before making a commitment.
If you're considering renting heavy equipment for your construction operations, The Cat® Rental Store can help. We offer flexible rental terms and a wide selection of Cat machinery and allied equipment. With more than 1,300 locations worldwide, you can always get the equipment you need from the people who do whatever it takes to help you succeed in this industry. To learn more or request a quote, call 1-800-RENT-CAT or browse our equipment selection online.