Construction Industry Outlook For 2022
Business
Every year construction continues to shape and morph the way it goes about its practice not only to keep up with changes in policy but prices of materials. Construction provides a huge with roughly 4.8% of the American work force being employed in this industry.1 But with more policy makers turning to greener practices and efforts in technology continue to scale what practices are becoming common? Well Trend Seeker is here to dig in deep once again and bring about the information you’re ready to digest and get ahead!
Workers Still Getting Decent Pay
Construction helps to provide food on the table for many families and with reports that the average wage across this industry being strong is a good sign. In fact in January 2022 its reported that workers earn roughly $30.44 an hour on average. So with strong wages and job security, its no wonder that many people are interested in getting involved with construction. But what exactly is being built?
Technology Integration
Drones and 3D printing are two technologies that are being used on construction sites more frequently as of late. Many believe that by the year 2022 they will be a staple in most if not all construction sites as we know them. Drones help with scouting locations and getting a full view of the property before any work begins. This helps to create a better understanding of the site and avoid any possible disasters. 3D printing is being used to create homes! The technology has been around for a while but its only now that construction workers are beginning to use it on a regular basis. This type of construction is not only faster but also more efficient and causes less waste. In fact its been reported that the drone industry could be a $23.8 billion market for mining and construction globally.2
Rising Working Materials Creates Nervous Tensions
The cost of construction materials is predicted to rise in the next few years. This is due to a variety of reasons such as, natural disasters, political tension, and an overall increase in demand. This causes many construction companies to be on edge as they are not sure how high the prices will go or when they will stabilize again. Many experts are predicting that the prices will level out by the year 2022 but until then construction companies must be prepared for the worst. With an unprecedented 8% rise in construction materials in 2022 many builders and construction companies have been priced out for their jobs creating bankruptcy concerns.3
Safety Of Workers Is Paramount
The safety of construction workers has always been a concern but in recent years it has become even more important. With the rise in technology comes the need for better training and understanding of how to use it. This is especially true for drones and 3D printers as they can be very dangerous if not used correctly. Many companies are now offering training courses for their workers to ensure that they are up to date on the latest safety protocols. It is important for construction companies to make sure that their workers are safe not only for moral reasons but also because it can save them a lot of money in the long run.
Sustainability Is A Major Focus
As the world becomes more aware of the need for sustainability, construction companies are starting to change the way they build. Many are now using sustainable materials such as bamboo and recycled plastic. Others are focusing on building homes that are energy efficient and use less resources. This is a trend that is expected to continue to grow in the next few years as more and more people become concerned about the environment.
Big Projects On Scale
Governments continue to approve new infrastructure projects in major nations including China and the US. This is good news for construction companies as it means that there will be a lot of work available in the next few years. These projects can be very large and complex so it is important for construction companies to have the experience and manpower to handle them. Some of the biggest projects include the construction of new airports, highways, and bridges.
What Does The Future Of Construction Look Like?
The construction industry is always changing and evolving. With new technology, comes new ways of doing things. The next few years are sure to bring even more changes and innovations to the industry. It will be interesting to see what the future holds for construction companies.
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