After several years of uncertainty and fluctuations caused by COVID-19, the construction industry looks to grow and beyond, despite many challenges posed by labor shortages and rising prices. Construction is still the largest industry in the world, but still, that isn’t growing as rapidly as other industries. We look at what’s trending in the construction industry and how it boosts the construction industry’s growth, efficiency, and profitability.

Virtual Construction Tools
Upcoming new technologies such as virtual design and visualization software have helped the construction industry to grow over the next five years. The ability to use specialized software to plan, engineer, and design projects before groundbreaking will be a driving force in speeding up job completion, minimizing mistakes, and reducing overall costs.

Modular Construction
Many construction companies as well as their customers are turning towards modular and pre-fab construction because it reduces the overall costs and building time as compared to traditional construction. Modular projects reduce costs by up to 20%, and with the use of high-quality materials gives customers sturdy, durable structures that go up more quickly than building from scratch.

The construction industry will be benefitted from robots and machines that help to make job sites more efficient and safer. For example, it’s better to have a robot transport heavy or hazardous materials instead of risking the valuable life of employees. And rather than replacing those employees, the robots allow construction companies to use those people in less dangerous roles, which increases productivity and ensures everyone’s safety.

3D Printing
3D printing is a game changer for many industries, especially for construction. Using 3D printing technology on the job site allows construction companies to quickly create replacement parts or even make changes on the fly as designs change due to circumstances.

Another technology that is proving to be a game changer in many industries is drone usage. Drones are becoming a must-have resource for construction companies, and currently, the industry has seen a drastic growth in their use over the past years. Drones save construction companies time and money by providing topographic mapping and land surveys, equipment tracking, security surveillance, safety, progress monitoring, and inspection. Drones are so cost-effective they are a must-have in any construction company’s list.

Material Costs
Asking any owner of a construction company what challenges they face, everyone will say the rising cost of materials is probably on the top of the list. The U.S. Bureau of Labor Statistics shows the increasing costs of materials like concrete, crushed and broken stone, gravel, sand, etc., and this trend looks to continue. Many construction companies combat this by using the above-mentioned technologies like drones and virtual design, but also through implementing materials like self-healing concrete, which are more expensive at the outset but will save money over time.

Even if robots and machines are efficient, you still need a labor force for construction projects, but as we have seen, that quality labor is in short supply. As robots and machines have become more prevalent on construction sites, construction companies must look to hire educated workers to manage data and use the technology.