As with any year, you can expect to see the construction industry go through a few changes in 2018. Trends are always shifting, especially when new technology is introduced. If you’re in the construction industry, you know you have to watch these shifting trends and adapt to them as soon as you can to stay competitive. If you’re ready to get a head start on understanding these trends, here are some experts predict will be popular in construction this year.
Modular construction has some benefits, and many clients already appreciate what it can offer them. It’s cost-effective, allows for buildings to go up more quickly, and allows for the quality of the construction to be better managed. Modular construction can be seen in many restaurants, allowing for those buildings to be put together on-site without the need for a full construction set up. By offering modular construction, you may be able to pick up some new clients.
This type of construction can also help you. Modular construction means less work and fewer materials are needed at the job site. With the cost of materials expected to increase in 2018, modular construction offers you a chance to keep your budget under control.
New and Better Safety Protocols
Safety is a high priority on the job site. Your employees are always working with power tools, heavy equipment, and on unfinished structures. Any accident on the site can lead to serious injury and even death. As technology improves, safety procedures and tools do as well. You can expect to see more of these tools in 2018. Any good small business coach will tell you to implement as many of them as you can. Safety is vital to any job, especially construction.
A lack of communication is one thing that can lead to accidents. To address this, construction crews have turned to new mobile apps that help keep everyone in the loop at all times. Drones with video cameras can now be used to investigate small spaces or unstable structures, while clients and project managers can view the progress via live video feed instead of being on-site.
Every year brings new technology, and 2018 won’t be an exception. You can expect to see many of the innovative technologies introduced in the past few years continue to be used more and more on the job. Drones, besides being useful in small spaces, also provide a great way of getting aerial images and video without the need to hire a helicopter or other aerial craft.
Virtual reality has also become more and more useful in the construction industry. Computer modelers are now able to create full virtual mock-ups of the building, allowing clients to “walk” through the finished design and make suggestions and modifications before the foundation is even poured.
3D printing has also helped make the conceptual stage that much easier. Incredibly detailed models of the building can be printed and assembled much more easily with these tools.
While this new technology may seem flashy, remember to thoroughly investigate what it can do for you and perform a cost/benefit analysis before you make any large purchases. Many people are excited about innovative technology and run out to buy it as soon as it hits the market. That often costs a lot of money, and those early products aren’t always the best. Do your research and purchase only what has been thoroughly reviewed and fits your needs at the time.
Growth in the Industry
While the construction industry isn’t expected to be one of the fastest growing sectors in 2018, some growth is expected. The year may likely start out fairly slow, but by the end of 2018, the construction industry will grow by about three percent, experts predict. There are several things that will impact growth rate this year, including changing interest rates, new tax reform laws, and potential infrastructure programs and legislation.
While analysts may predict a small growth year for the industry overall, that doesn’t mean your business won’t see larger growth. As with every year, you can’t expect to magically see that three percent happen—you have to work to grow your business. If you put in a good amount of work on marketing, you’ll see larger gains.
While the industry isn’t going to make any huge gains in 2018, that doesn’t mean it will be stagnant. With new advances in technology and a heavier focus on safety, you can expect to see changes occurring. The growing popularity of modular construction may even lead to you reworking your entire business’s methods. Whatever you decide to do, now’s the time to think about these predictions and decide how you’re going to react to them. Otherwise, you’ll end up starting 2018 behind your competitors.