How can businesses leverage the rapid growth in infrastructure to maximise their operational outcomes? Ensuring operational efficiency is not inhibited by machinery breakdowns is critical to maximising the benefits for business.
The world of construction is changing rapidly. Businesses are quickly adapting to new ways of working on a journey to decarbonise their operations. It helps that construction is a sector set to be in high demand during 2023.
Many governments have identified the positive impact construction can have on global economies and are ramping up their investments in infrastructure projects.
In the US, construction spending is expected to increase by 5.5 per cent in 2023. The $1.2 trillion Infrastructure Investment and Jobs Act is driving increased demand. China put even more money behind infrastructure projects in 2022, boosting construction with its own $2.3 trillion plan. They are set to invest further during 2023.
Elsewhere, the energy crisis has inspired governments to invest in long-term alternatives to oil and gas. This is the case in the UK, which plans to accelerate the development of new nuclear, wind, solar and hydrogen power. Similarly, India needs to invest around $840 billion in urban infrastructure over the next 15 years to meet the needs of its rapidly growing population.
All this investment creates a vital opportunity for the construction industry to drive growth for businesses and their communities. From new housing to sustainable infrastructure, construction companies can help to build a better economic and environmental future for people everywhere.
The big question
The industry’s big challenge is to find how construction businesses can make the most of this opportunity. Companies need to take on a range of additional new projects to realise the potential of increased global investments in infrastructure. This means setting themselves up for success by optimising their processes and maximising equipment uptime.
There are several reasons why these two areas are essential. Across multiple industries, there’s a shortage of skilled workers. Construction is one of the worst affected, with hundreds of thousands of unfilled vacancies worldwide. Companies must make the most of their skilled teams and equip them with the right tools and processes.
Companies must find as many efficiency savings as possible to protect their margins, along with rising material, fuel and labour costs. A vital place to look for these savings is equipment operations. Breakdowns contribute to missed deadlines and account for roughly 40 per cent of the industry’s cost overruns.
Viva Energy Australia, the Shell Lubricant Macro Distributor in Australia, offers a range of lubricants, oil, and greases. Its products can help extend equipment lifespan, prevent breakdowns, and provide solutions for effective maintenance plans.
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“Shell invests significantly in technical collaboration,” says Silvana Farrugia, Technical Expert from Viva Energy. “Over 350 product application specialists work closely with OEMs and customers. Together, they develop innovative lubricant solutions to optimise equipment uptime. Our lubricants products can deliver value but also improve business outcomes.”
Keep equipment working hard like you
As construction companies take on more projects, their equipment and process reliability will be critical in delivering works on time and within budget. Shell Lubricants have a wide variety of lubricants, tools, technologies, and initiatives available to businesses. Each product can help maximise equipment uptime and drive efficiency across site operations.
Predictive maintenance and modelling
So much equipment damage can go unnoticed until it’s too late. Unplanned downtime can arise from previously unseen equipment damage. With predictive maintenance practices (including oil condition monitoring), construction crews can spot and fix issues before they escalate – preventing avoidable breakdowns and unplanned downtime. Sensors play a vital role in creating valuable new data sources for companies to generate actionable insights.
Inadequate lubrication has caused breakdowns for four out of ten companies. High-performance lubricants for engines, hydraulics, gears, and transmission systems are essential to avoiding unplanned downtime and maximising equipment productivity. That’s why regular ongoing maintenance from on-site assessments and services like Shell LubeAnalyst optimise lubrication practices can make a massive difference in delivering projects on time and within budget.
Artificial Intelligence (AI)
The use of AI in construction is expected to grow 183 per cent over the next two years, so how can it help companies improve efficiency? In the initial stages of a project, it can aid planning to prevent cost overruns and missed deadlines. On the site, autonomous
equipment can free up workers for more practical tasks – helping teams streamline operations and increase productivity while mitigating the issues caused by labour shortages.
Work with an expert partner
Construction businesses have a tremendous opportunity, and collaboration will be crucial in setting them up for success. Working closely with a partner like Viva Energy, Shell Lubricants Macro Distributor can help businesses select the solutions that meet their specific needs and take advantage of the opportunities that increased investment in construction will bring.
For more information, visit www.vivaenergy.com.au/shoplubricants
Editorial source — https://www.shell.com/business-customers/lubricants-for-business/perspectives/equipment-life.html
This article was originally published in the July edition of our magazine. To read the magazine, click here.