The construction industry has to face some disruptions in the future. It can be significant or not. Brian Moore of FMI corporation had confirmed three challenges that can break or make the construction industry in the future.
Labor Factor
For the last several decades, manufacturing has invested significantly in the output of its workers. It is easier to hire more labor when the economy is good and lay off employees when it falls than make significant capital investments in equipment and technology. A less capital-intensive industry, the construction business, has historically grown by employing more people and not buying more equipment.
It's easier to hire more labor when the economy is good and lay off employees when it falls than make significant investments in equipment and technology.
The trend must change going forward. However, the construction industry is expected to grow. And the companies that cannot find labor will be constrained by what type of project they can handle and how much growth they can achieve.
Megaprojects Will Shuffle Mid-Size Firms.
According to the project performance review in 2018 by The Charles Pankow Foundation and Construction industry institute, the design-build projects " are delivered faster and with significant liability in cost and schedule performance" can be compared to alternative delivery methods.
Soon the reviews found that design-build projects are 1.9% less expensive than a construction manager based on cost per square foot and 0.3% less than design-bid-build. Design-build projects are 13% faster than CMR during the construction phase and 36% faster than DBB. FMI predicts an 18% growth in design-build construction by 2021, with some low-bid projects and nearly half of the market utilizing design-build.
Another emerging delivery method is Prefabrication. It includes preassembling components of a structure offsite at a factory to be transported to the final destination.
Prefabrication is also used in many other manufacturing industries, but it is believed to grow in construction because "it allows companies to finish projects as soon as possible."
Construction Technology
Technology will invade the construction industry more quickly in the future as compared to the previous five decades. Companies are mainly focusing on technology to make the work easier for their people.
"The construction industry will take a carbon-based workforce and augment it with a silicon-based one," said more.
The construction industry is moving toward digital transformation. Venture capitalists invested approximately $1 billion in construction technology last year. It states the substantial growth of construction technology in the future.
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People with many various talents and academic backgrounds — managers, clerical workers, accountants, engineers, truck drivers, trades workers, and construction helpers — find construction industry job.
Structural workers build the most internal and external framework of a structure and may include carpenters; construction equipment operators; brick masons, blockmasons, and stonemasons; cement masons and concrete finishers; and structural and reinforcing iron and metal workers.
Finishing workers perform the tasks that provide a structure its final appearance and should include carpenters; drywall installers; ceiling tile installers; plasterers and stucco masons; segmental pavers; terrazzo workers; painters and paperhangers; glaziers; roofers; carpet, floor, and tile installers and finishers; and insulation workers.
Mechanical workers install the equipment and material for basic building operations and should include pipelayers, plumbers, pipefitters, and steamfitters; electricians; sheet workers; and heating, air-conditioning, and refrigeration mechanics and installers.
Carpenters construct, erect, install, or repair structures and fixtures made from wood, like framing walls and partitions, fixing doors and windows, building stairs, laying hardwood floors, and hanging kitchen cabinets.
Construction equipment operators also referred to as operating engineers, use machinery that moves construction materials, earth, and other heavy materials and applies asphalt and concrete to roads and other structures.
