Observers have deemed the construction industry as a hotbed of innovation mergers that has been directly linked to developments within the automobile industry components. Much of these innovations were not just driven by safety concerns, but also due to the rising concerns related to the sustainability of the environment.
Opportunities that have come about through technologies that include A.I, robotics and the Internet of Things (IoT) has resulted in nearly 250,000 patents within the last three years associated to the construction industry with most of these patents being linked to autonomous excavators or smart excavator concepts. Nevertheless, the inequality of these innovations with some being too far ahead and some being redundant, the technological evolution that is being currently witnessed threads through the stages of early emergence followed by accelerated adoption before reaching full maturity.
Industry analysts and players are currently focused on the evolution of these technological transitions as it is critical towards making decisions as to which stage they should adopt based on future trajectory and subsequent impacts. This is especially critical for companies or enterprises that provide construction equipment for rent. And based on the fact that the excavator for hire segment is among the biggest revenue generator among products and services offered any technological developments related to the excavator is critical towards the long term sustainability of these companies.
Global Data Technology Foresights indicated that among the innovations that is expected to shape the future of how machines will be designed and what they are capable of include robotic water surface cleaners, intelligent motor controllers, sensor-fitted door wings, heavy equipment monitoring systems and hydraulic excavators that are powered by batteries (fully electric) which are quickly gaining traction within the scope of the industry in totality.
Autonomous excavators according to industry players are certain to take off within the next decade if not sooner and according to a senior spokesperson for Caterpillar autonomous excavators have become a key innovation component within the sphere of robotics. The fact that excavators could be equipped with advanced robotic technology and be able to conduct excavations on its own at project sites is no longer a pipe dream, it is already a reality.
These machines will be able to use various sensors to collect information on whatever that is going on, this includes the topology of the surrounding area, monitor the amount of soil being moved and even grade with high accuracy which will have an enormous impact on efficiency of work processes at construction sites. Among the major industry players that are leading the innovation pack includes Komatsu, Caterpillar, and Husqvarna which have their own business component that offer excavators for hire.
Mini excavators have been receiving the most attention based on research data as R & D costs for development of mini excavators is significantly lower allowing rapid progress within this class of excavators which dominate the excavator for hire segment. Most construction equipment rental companies own more mini excavators than any other class of excavators due to the high demand of these machines.
