With the growth of clean energy and the recent elections, the future of the coal mining industry has been center stage. Namely, what will happen to it and all the businesses and people whose livelihoods are connected to it? The modular construction industry is no exception. Luckily, there are ways you can compensate for the changing industry:
More Potential Opportunities for Modular Construction over Traditional Construction
The rising demand for clean energy and the new regulations on coal power plants to reduce the effects of climate change have caused mining companies to look for more ways to save money. As such, they will be taking advantage of modular construction to achieve more budget-friendly and efficient building solutions than traditional construction.
Offer mining companies and power plants modular construction options like modular offices and mezzanines that can be retrofitted into power plants. That way, if a plant needs to upgrade their facilities, they will have an affordable and reusable option available to them.
Higher Demand for Reusable Investments
Because mining companies will be looking towards modular construction for their building needs, it’s a chance for modular companies to show off the advantages of their reusability. Since the public mind is set on reducing waste, mining companies can benefit from modular construction
If a mine shuts down, mining companies can repurpose the building for use at another location. For example, an equipment shelter moved from a mining site to another site or company headquarters. That way, there is no construction or financial waste for the mining company.
More Clients in Alternative Energy
Unfortunately, with the move into cleaner energy, many mining companies have had to lay off many employees—almost half since 2012. With that comes a reduced demand for new construction since mining companies won’t want or need to expand their operations past what they can afford. If new EPA regulations force many power plants and mining companies to shut down, modular construction companies will be affected through the loss of clients.
Consider promoting your modular construction company to new areas of energy production like natural gas or solar to expand your client base. That way, you can maintain your business and offer your services to other industries who are interested in reusable buildings.