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Developing businesses are treating sustainability聺 as the crucial goal of their method and operations to escalate growth and to compete in the global market. This motive now consists of many outstanding corporations throughout many distinct industry sectors. In many cases, those efforts are showing positive results. These companies have taken up a zero-waste plan and committed to recycling to become more environmentally responsible. Their plans to grow towards sustainability entails the usage of energy-efficient products, the usage of sustainable/recycled materials for manufacturing, and also the reduction of carbon emissions overall.

Extending our support to companies who are adopting sustainable practices is a start in giving back to the environment. Apple has initiated the usage of aluminium over other materials to mitigate emissions and twenty-three partners of Apple have a 100 per cent commitment to renewable energy. It is commendable how Google is consistently ahead in its game as its data centres use 50 per cent less energy than most others in the same line, and over 90 per cent of their all-around waste is diverted from landfills. Similarly, Ikea has 91 per cent of its waste transformed into energy through recycling or incineration.

Researchers have estimated the impact of emissions from the construction industry would mostly be dependent on embodied carbon by the year 2050. In the interest of reduction of carbon emissions comes the usage of renewable fuels, and biodiesel holds an important appeal here, performing the same as diesel in cold weather and can be treated for winter use in the same ways, even though it is not as fuel efficient. Biodiesel should be viewed as an integral component of a national energy policy that increasingly relies on clean, domestic, renewable fuels.

Each renewable fuel category, relative to the petroleum fuel it replaces, emits lower levels of greenhouse gases (GHGs). But greenhouse gases are not our only concern when we talk about the construction industry. Besides greenhouse gases, the prevalent methods of production in the industry have a massive contribution to landfill wastes and harmful pollutants that exert a significant impact on the natural ecosystem.

On average count, over 80 per cent of people spend their lives indoors, and unlike general consideration, the concentration of pollutants per unit volume of air is higher indoors than it is out in the open. Poor design of ventilation systems in buildings, and off-gassing of the toxic chemicals in the same buildings, contribute to it as a whole. Products need to be engineered with a lower per unit carbon count and incorporation of alternate building materials too so that the harm rendered upon living beings, as well as the environment, is mitigated. The manufacturers need to take action towards eliminating the industrys carbon pollution. It should begin with technical innovations internally to mitigate the generation of pollutants of all kinds, the and upgradation of facilities in the production unit(s) to maximise energy efficiency.

Fortunately, the present market values strength efficiency in energy utilisation more than it ever has. Almost all producers condone the usage of machinery running on the fuel being aware of the increasing importance of energy efficiency in the current climate- how it is nothing but the greatest investment they can make to reap long-term benefits for their consumer base. Over time, energy efficiency has become the pivotal principle of many production strategies. Even buyers of residential as well as commercial buildings demand environmentally efficient and sustainable design in the products even if they have to increase their cost margin. People are willing to cut fuel costs to acquire greater efficiency keeping their business minds true to the long-term benefits and escalation in production efficiency. Reduced pollutants and mitigation of emissions go hand in hand.

As mentioned, environment-friendly strategies of production are now being taken up widely, even if it entails increasing the costs marginally so as to ensure sustainability. But what if, to balance it out, there was a way to reduce the costs elsewhere? Maintenance of the huge machinery surely takes up a chunk of the cost margin. However, better technology and innovation might help us mitigate the same.

We are talking about the usage of electric construction machinery which not only reduces maintenance costs as compared to heavy machines but also significantly contributes to the reduction of fumes, unwanted loud noises, energy costs, harmful emissions, and so on, enabling the business to put a step forward towards sustainability. Also, recharging would be much more efficient and less tedious. What else would we want other than a reduction in our costs and consequently contributing to the betterment of the environment that sustains us? If auto-emissions regulations are any guide, cities can implement such rules to help push the industry toward greener gear.

The global compact electric construction equipment market was valued at $46.15 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5 per cent from 2022 to 2030.

The sector is witnessing a growth boom because of the escalation in the demand for compact construction equipment due to increased demand in housing and the expansion of manufacturing plants! As construction activity increases rapidly, the rental equipment market also witnesses a strong demand for the same. Upon looking at the trends during Covid-19, the challenging times have always given way to counter the growth in the equipment rental industry- transformation and reinvention for good. As per market reports (revised during the Covid-19 situation), the construction equipment rental market in India and in the ASEAN, region is expected to see major growth during the forecast period 2020-2025.

The global construction equipment rental market is expected to register a CAGR of about 4.78 per cent during the forecast period. Although the higher interest rates tend to drive away the investors, and it might affect the overall construction projects- equipment, chips and resource shortages, supply chain difficulties, labour shortage, and so on 鈥� it is the consumer demands that have been and would be driving up the demand and hence the economy of the market. The Make in India campaign is expected to prove to be a catalyst for the previously slumped market and set it on a growing trajectory.

With a growing economy and an ever-developing industry like India, we must relentlessly channel our efforts toward building a sustainable and healthier world, to leave something behind for the next generation of businesses to grow. With each of our little contributions, we might make a significant impact since no effort is small.

ABOUT THE AUTHOR:

The article is authored by Rajesh Nath, Managing Director, VDMA India. Rajesh Nath has more than 32 years of experience working in various industries in Germany and India. He has been accorded the "Cross of the Order of Merit" 鈥� the highest civilian award from the German President, for promoting Indo-German Trade in the engineering sector.