This is sure to be an exciting year for the construction industry, as it expected to adapt to the changing times and advance faster than ever. But what do the experts specifically predict for this year? Keep reading for a sneak peak at the 2023 construction industry.
“On a scale of 1-10, as we move through 2023 we expect to see maybe a 7 or 8. The Kentucky economy seems to be on pace with last year. Construction projects are coming to market and being awarded, but some starts are being delayed more than usual as owners take into account the financial market and workforce availability.” –Mark Hill “Messer Construction Co.” in Lane Report
Working remotely will become a reality for many positions.
While we believe there’s nothing better than working in an exciting jobsite setting, many yearned for the comfort of working from home as they watched their peers throughout the pandemic. But this year we are sure to see the construction industry follow suit. Over the last few years, companies have gradually shifted some positions to a more remote way of working. In 2023, some, like remote project management will become more commonplace.
Wondering how a project manager can still be effective without working onsite? Actually, many experts believe that a centralized project management system improves collaboration. Another benefit is that remote positions allow companies to find the absolute perfect person for the job, without having to worry about geographical constraints.
Technology will continue to transform our processes.
In order to support our new way of working and filling gaps in skilled workers, technologies like drones and robotics as well as advanced construction management softwares, smart contracts and building information modeling (BIM) will grow in popularity.
Technology might be intimidating at first, but it has the power to progress our industry forward faster. For example, construction management softwares and smart contracts will take down cumbersome red tape and ease the approval process by sharing documents digitally while BIM will help projects proceed more efficiently with interactive 3D modeling that improves collaboration and decreases delays.
Projects will take a turn in 2023.
- We are still facing a housing shortage in countless communities statewide. To meet this growing need, construction will move away from dwindling retail and hospitality projects to much-needed residential construction work.
- Infrastructure is expected to outpace even housing construction, thanks to government support and a growing need to take care of everything from highway to sanitation construction, bridge to energy, and everything between.
- Lastly, as for industrial construction, warehouses and distribution centers are where it’s at, thanks to major online retailers who need a place to transport, store and distribute goods in an efficient hub. Experts also believe there will be a boom in domestic microchip manufacturing that will require new building construction.
Support for environmental concerns will become the norm.
What was once a small sub-industry, green building is sure to be the future of our industry. As more people, both within the industry and in our communities, are looking for ways to take care of our environment, eco-friendly building practices will be expected and, eventually, regularly practiced.
Whether you are a general contractor, architect or developer, you can make a difference by offsetting the negative impact your project places on the environment. Trust us, it will make a positive impact in more ways than one.
These are just a few of the trends forecasted for this year. Keep these in mind. Construction companies that stay ahead of these trends are sure to see greater success in 2023.