5 Ways US Infrastructure Upgrades are Shaping the Construction Industry
September 9, 2020
Despite increasing material costs and shortages of available labor, the construction and engineering industries have managed to grow continuously. Though there's no telling what exactly is in store for the construction and engineering industries, the future looks bright with recent US infrastructure upgrades shaping and benefitting these industries today.
Effects of US Infrastructure Upgrades on the Construction Industry
1. Job Growth
One of the most significant challenges faced by the construction industry last year was a lack of jobs. However, US infrastructure upgrades have significantly increased the number of construction projects available, driving demand for construction laborers. Today, we see more construction laborers than ever due to higher wages brought on by increased demand.
2. Improved Price Management
Many successful construction companies recognize the need to plan better for the future. While their bottom lines are still being affected by significantly increased costs, many businesses are looking for ways to minimize costs where they can, without sacrificing quality and raising prices. With online plan room software, subcontractors and general contractors can easily compare costs and save money.
3. Increased Focus on Technology
In today’s world, one thing is for certain: companies in the engineering and construction industry will rely on technology more than ever. Construction bidding and planning software not only helps subcontractors and general contractors connect but also aids in effortless bid submission. These kinds of software programs also assist general contractors and subcontractors manage projects quickly and efficiently. Larger companies are investing in artificial intelligence to help with the moving and lifting of heavy materials and other dangerous tasks, helping to keep construction workers safe.
These technologies have several significant impacts. To begin with, skilled laborers have the opportunity to spend their time and energy working on more specialized tasks and less time submitting bids and sorting through endless paperwork. Moreover, highly skilled professionals are more likely to work for a company that does not require them to perform highly dangerous tasks. Ultimately, companies who invest in this technology help increase their workers' safety and productivity, saving a significant amount of time and resources in the long run.
4. New Opportunities
Additionally, US Infrastructure upgrades are helping to bring about new construction opportunities. The engineering and construction industry is currently benefiting from local and state governments expanding roadways. Government officials are funding support into reconstructing dilapidated water and wastewater treatment facilities, as well as bridges that are no longer safe. Similarly, we expect to see significant investments in the construction of broadband and power grid infrastructure systems.
5. Increased Demand for Sustainable Solutions
Government officials around the country hear their constituents' desires for more sustainable cities. Throughout the rest of this year, we expect there will be a heavy emphasis on constructing sustainable buildings that optimize their power usage, create more sustainable energy, and transportation options.
The Bottom Line
With these current US Infrastructure trends, the future of the construction and engineering industry looks bright. The United States is investing heavily in infrastructure upgrades, boosting employment in the construction industry, and stimulating local economies nationwide. If you're a general contractor or subcontractor and want more information on current construction industry trends or would like to learn more about how PlanHub can help you manage your next project, contact us today!