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10 Ongoing Trends in the Construction Industry

The construction industry is rapidly growing in terms of technological advancement, just like many other fields of specialization in the market. Despite the hesitation – and opposition in some cases – of veteran experts and companies in the field, the industry is already evolving and embracing new trends to keep up with rising demand for construction projects and perform cost-effective and highly efficient processes.
If you feel that your construction company seems to be getting left behind by the competition, you may be either using obsolete hardware and systems, or experiencing the effects of industry-related issues. Here are ten of the emerging trends in the construction industry that have created a huge impact – positive or negative – on companies:

  1. Decrease in the number of qualified construction workers

The recession a few years ago has created a dramatic shift in qualified labor. Despite the resurgence of the construction field, the exodus of workers has not been completely reversed yet.

  1. Increased interest for technology and apps that help in construction

We at ProEst have featured many stories about apps and devices that improve the systems and procedures in construction projects, and it’s a good sign that many companies are embracing this uptick in technology.

  1. Rise in the number of mergers and acquisitions

The merger of Standard Pacific and the Ryland Group started this trend, and it seems to be inspiring many others to follow suit.

  1. Emergence of seller’s market

With the increasing prices of homes and the low availability of houses for sale, the real estate industry is preparing for a seller’s market.

  1. Construction of smaller houses

Tiny homes have begun to emerge as a way to attract potential home buyers to purchase a new home at significantly lower prices.

  1. Increased awareness on the importance of safety

Job safety – especially in the construction field – has risen as a banner headline in projects. Recent court decisions against companies who fail to make the workplace safe for workers have forced the entire industry to put safety at the top of the priority list.

  1. Use of 3D printing and off-site construction

While 3D printing technology and off-site construction methods are still on their infancy, some construction firms have already considered using these techniques to bring down costs and construction time.

  1. Preference on green buildings

Much like how renewable energy is considered as the answer to rapidly depleting fossil fuel sources, environmentally friendly construction is now on the rise.

  1. Federal crackdown on corruption in the industry

Many cases of corruption in construction projects have recently been unearthed by the federal government, which is serious about putting a stop to this malpractice.

  1. Focus on millennials

The new generation of buyers prefers renting for now, but the industry is hopeful that millennials will gradually shift to purchasing a home sometime soon.

 

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