Construction industry analysis

The profitability of individual companies depends on a steady volume of work, accurate job estimating, and good

Construction industry analysis

For the most up-to-date information, take a look at the construction industry trends to watch in With in the rearview mirror, construction professionals are turning their attention to the year ahead.

Despite that positive forecast, a feeling of uncertainty continues to loom over the industry.

Construction Financial Benchmarker | CFMA

We spoke with experts from various sectors of the construction sector to find out their predictions for While questions regarding what the incoming Trump administration means for construction dominated the conversation, they also described the new technologies, project delivery methods and workforce management trends they expect to shape the industry this year.

Here are the top 10 trends to watch in Collaborative project delivery methods will become more popular The days of design-bid-build domination might be winding down, as experts expect collaborative approaches to become more common for projects.

Design-build, public-private partnerships and integrated project delivery are three of the most often-cited methods that are altering the industry and are likely to gain ground in I call that moving from an art to a science," said Sue Klawans, senior vice president and director of operational excellence and planning at the Gilbane Building Company.

All the research and demonstrated achievements are coming from starting to organize thoughts about that and figure out what are the factors that allow a team to collaborate better. I call that moving from an art to a science.

10 construction industry trends to watch in | Construction Dive

That group will then operate and maintain the facility for years before turning it back over to the owner. The labor shortage will continue to plague the industry One trend that the industry hoped would fade away is, instead, raging on.

The skilled labor shortage is a major concern for firms across the U. This trend is lingering after a huge chunk of the construction workforce were forced to leave the industry for other jobs during the recession when their work disappeared.

A lack of technical training in schools and less emphasis on the trades are also contributing to a smaller pool of workers entering the industry. Combined with an aging workforce, those factors are creating a struggle for construction firms seeking employees for positions ranging from skilled trades to managerial roles.

Aside from the long-term implications of a dwindling labor pool, firms are feeling the immediate impacts of the worker shortage, as it can lead to higher costs and longer project schedules.

On the positive side, Klawans noted that the current dearth of workers presents an opportunity for young people choosing a career path. The next administration has the power to significantly alter regulations, taxes, labor policy and countless other aspects of business.

That fear of the unknown could keep owners from starting or continuing new projects. However, experts predict the building method will grow in as quality, time and labor concerns make alternatives to traditional construction methods more attractive. Once something is embedded, then it takes off pretty quickly.

Those contractors are finding that offsite methods allow them to reduce hours onsite, improve efficiency and perform more subassemblies than in the past, according to Klawans. She said that as more firms utilize offsite construction, they will see the benefits, and other companies will in turn try out the method.

IoT holds the potential to revolutionize the job site Surveying a construction site with a laser scanner The Internet of Things encapsulates several aspects of the construction tech landscape, including equipment and employee tracking, wearables, drone surveying and other information collected on the job site.

As contractors and subs continue their quest to cut costs and improve efficiencies, many are turning to IoT options to improve site operations. Garrett Harley, director of engineering and construction strategy for Oraclesaid he tends to combine the terms IoT and business intelligence.Find Construction Market Research Reports and industry analysis for market segmentation data, market growth and new business op.

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Construction industry analysis

Construction Equipment Industry Background The escalating construction sector coupled with rapid industrialization will support the construction equipment market growth.

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10 construction industry trends to watch in | Construction Dive