How a sharing economy could redefine construction

The construction industry, for all its advancements, has a reputation for being slow to adapt, but change is on the horizon, stimulated by the disruptive potential of a sharing economy. It is an idea, built on collaboration and resource optimisation – and if we fast forward a few years – then it could reshape the way construction projects are planned, executed and managed, writes John Ridgeway.

Sharing, a concept first mooted some 15 years ago, but still to be widely adopted, could cover a wide range of resources - everything from heavy equipment to skilled labour, access to the right finance to the best architectural designs and more. The most obvious area, of course, is the use of plant, which although covered in many ways by a myriad of hire companies that specialise in short term lease arrangements, still fall a little short when it comes to the big stuff.

This is why many companies still invest in a vast array of machinery – cranes, excavators, bulldozers – that may only be used for a fraction of the year and this approach leads to several significant drawbacks.

Acquiring and maintaining a diverse equipment fleet can be a substantial financial burden. Smaller companies, especially those specialising in niche areas, may struggle to compete due to these upfront costs. Such equipment often sits idle between projects, depreciating in value while generating no income - representing a significant waste of resources. Furthermore, owning such equipment restricts a company's ability to adapt to changing project demands, especially for one that might require a specialised piece of machinery. Click link to read more:

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