Top 4 Construction Industry Trends

AssuredPartners NL Construction InsuranceConstruction professionals have predicted new technology trends, workforce concerns, homebuyer preferences, strong demand and a booming business. Here are the top four trends to keep an eye on:

  1. Skilled labor shortage will continue to torment construction companies
    • Many employees left the construction industry or were laid off during the recession, so companies still fight to find workers at all levels to appropriately operate their teams
    • There has also been a decline in immigration due to the increased immigration controls
  2. Construction companies will be more attentive about project selection
    • The recession and labor shortages have made companies particularly cautious about the amount of new work they can handle
  3. BIM (Building Information Modeling) will become essential, and owner interest in the technology will develop
    • Owners are more interested in BIM, due to the data that they can capture and capitalize on
  4. Green building will rise in commercial and residential sectors
    • Commercial construction thrives in green adoption, but the residential sector is on the rise as well
    • These growing trends are driven by a desire to produce environmentally friendly structures, consumer demand, high-quality results, and lifecycle cost savings

Keeping up with the construction industry’s latest trends can be challenging and time consuming. AssuredPartners NL’s construction and surety experts have the knowledge and experience to apply the most effective risk management solutions to protect and strengthen your company.  To learn more, visit AssuredPartners NL Construction.

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