Since the inception of the “Sharing Economy” by companies like Airbnb and Uber to the successful BlaBlaCar and Getaround (ex. Drivy) in Europe, sharing owned assets has become commonplace for many consumers. This trend is now making headway in B2B markets, particularly in the construction industry. Read Part 1 of this series to learn the impact of the Shared Economy on market players in the construction equipment industry.
The Sharing Economy in the construction equipment industry offers opportunities to market intermediaries by increasing accessibility to the potential market, allowing for fleet optimization, and providing payment certainty. The new model in the B2B sector will likely boost demand by facilitating access to equipment but may also create a contraction of traditional business models. For example, Airbnb facilitated access to temporary housing, but created competition for traditional hotels. Market players should prepare their organizations for these changes. Managing Director of Heavy Equipment in EMEA, Audrey Courant outlined some ideas for construction equipment businesses to consider below:
DuckerFrontier’s Heavy Equipment team is at the forefront of key trends impacting the industry. Our experts are constantly monitoring changes in the industry to provide clients with the most impactful insights. How can we help you deliver better outcomes for your business? Contact us to connect with an industry expert.