For the past few years, the construction industry has faced many challenges. Labor shortages, the global pandemic and supply chain issues all contributed to delayed projects and overall industry decline.
However, over the past year the industry has seen a significant amount of recovery and growth, with year-over-year employment gains and positive long-term trends. As you make plans for 2023, here are the top construction trends to watch in the upcoming year.
CONSTRUCTION TRENDS TO LOOK FOR IN 2023
Recruiting Skilled Labor – Although the recruitment of skilled labor still poses a challenge, there are signs of a positive future: The U.S. Bureau of Labor Statistics reported that the construction industry now has more workers than before the pandemic. One reason for this recovery is an increased recruitment of women in construction. Over the past ten years the number of women in the industry has increased by more than 50%, and is only showing signs of increasing further.
Mitigating Supply Chain Issues – Unfortunately, supply chain and sourcing issues will not be going away any time soon. As the construction industry continues to navigate these issues, firms will have to develop new business models to source raw materials locally and plan for increased lead times to avoid delays and higher prices.
Developing New Materials – Because of such challenges with the supply chain over the past few years, there’s greater pressure to develop more cost-effective and sustainable building materials. As a result, more builders are recycling construction and demolition waste (C&D) to create aggregate and wood products.
Investing in Jobsite Technology – Builders are incorporating more and more construction technology on the jobsite to keep projects on track. Additional investments in drones, robots, workflow technology and autonomous equipment are expected to streamline workflow and efficiently perform site work in 2023 and beyond.
Rising Use of Modular Construction – Modular construction is on the rise in the construction industry, and is estimated to grow by almost $30 billion over the next five years. Because of its lower-impact, cost-effective and time-efficient nature, many builders are turning to modular to mitigate the challenges exasperated by the pandemic.
The future of the construction industry is looking bright as it works to invest in technology, talent and new materials. Jumpstart your job sites in 2023 with these essential tips for boosting productivity.