Advantages of Using Construction Equipment with Latest Technology
Technological advancement is the need of every sector and this holds true for the Construction Equipment (CE) sector as well. While in the past decade, lot of technological advancements have taken place in the CE segment in the country, yet there is a long way to go.
Need for technological advanced CE
Globally, India has become one of the key potential markets for Construction Equipment (CE). Further, it is estimated that by 2025, India’s construction market will emerge as the third largest in the world, which would exhibit huge demand for CE equipped with latest technology, owing to the advantages offered by them.
Let’s take a look at the various advantages offered by technological advanced CE:
1. Timely completion of projects: Usually we see construction projects witnessing delays in execution. The main reason behind project delays is usage of less advanced machines. Hence, works in construction field can get smoother and faster with the help of equipment fitted with cutting-edge technologies, which can ensure project completion in given deadline.
2. Enhances brand value: If projects are completed on time using highly advanced equipment, the brand value of business increases in the market, which in turn can help in getting new clientele.
3. Improves quality of work: Employing CE with latest technology also allows contractors to complete work with minimal quality defects.
4. Cost savings and profitability- Increased productivity and the reliability of the advanced CE also translates into higher profitability from fewer defect-related claims and the avoidance of delay penalties.
5. Performs multiple tasks: An old equipment may not be capable of doing all the work but machine embedded with advanced technology can do similar work and may be few other tasks as well smoothly in less time.
6. Ensures environmental friendliness: Generally CE equipped with latest technology are environment friendly and highly fuel efficient. Thus, they help in reducing CO2 considerably and help companies put their greener foot forward.
7. Reduces maintenance cost: Last but not the least, CE equipped with latest technologies require less maintenance. They are designed in such a way that they can work for long without major wear and tear.
In a nutshell
In future, demand for CE is likely to rise as a result of growth in traditional end-user industries, including construction and mining. If numbers are any truth, then the segment in India is expected to grow by a healthy 20-25 per cent over the next few years to reach 330,000 to 450,000 units sold in 2020, from current levels of about 76,000 units. This would imply a US$16 billion-$21 billion market, up from today’s $3 billion.
However, if such numbers are to be maintained and expectations are to be lived up to, what is needed is adoption of latest technology by the CE companies in India. Experts believe that in future, increased flexibility and advanced technology of CE will write down their future.
What more? Productivity and uptime are crucial drivers in the CE industry, where machine downtime can cost more than $1 million per day. Hence, what will define a bright future of CE segment is the adoption of newer intelligent features and increased sophistication by the CE manufacturers.
Realising this importance of technological upgradation and innovation, construction equipment companies in India are increasingly taking action and the results are fast and efficient equipment.