Since 2015 originates and gone, construction professionals are focusing attention around the year ahead. Experts predict 2016 is a strong year for that industry, as Dodge Data &lifier Analytics' 2016 Construction Outlook report predicted 6% growth, with the need for construction begins reaching an believed $712 billion.
We spoken with experts from various industries from the construction industry to discover their forecasts for 2016. Their solutions varied from new technology trends, to labor force concerns, to home buyer preferences. Only one common thread connected all the experts: They've high hopes that 2016 brings strong demand and flourishing business.
"I do not think I possibly could be anymore positive for 2016, " Bud LaRosa, chief business performance officer and chief financial officer for Tocci Building Companies, told Construction Dive. "They are actually the good occasions."
Listed here are the very best 10 trends to look at in 2016, based on the experts:
1. Skilled labor shortage is constantly plague construction companies
Probably the most generally pointed out trend for 2016 was the ongoing results of the skilled worker shortage. A good portion of employees who left the throughout the current recession never came back, and firms continue to be battling to locate employees whatsoever levels to correctly staff their teams.
"The overwhelming, number 1 problem is use of skilled labor, " Dominic Thasarathar, Autodesk's senior industry program manager for construction and natural assets, told Construction Dive. "A lot of people left the or were let go, and today there is a real struggle to obtain the right individuals to staff the projects which are now coming online."
The overwhelming, number 1 problem is use of skilled laborauto image + link
The labor crisis isn't a new problem, and many experts predict it'll continue well into 2016 and beyond, because the talent deficit will need multiple many years to fill again.
"Not just has got the construction industry battled to attract a more youthful, more technologically savvy labor force, but throughout the economical recession, a lot of companies elected not to usher in more youthful, more recent talent, " stated Tom Menk, a warranty work with BDO's national property and construction practice. "Now, that's leading to struggles to fill that gap within the labor force, that is combined using the need across industries for businesses to exchange retiring baby seniors."
Another critical concern: The downturn in immigration has led towards the already established labor shortage, as reviews have discovered many employees who came back to Mexico throughout the current recession haven't return towards the U.S. because of elevated immigration controls and much more job possibilities in Mexico.
"I believe politically, the atmosphere against immigration has transformed a few of the labor force dynamics and managed to get hard to staff many of the trades, " LaRosa stated. "I believe that trend continues. I do not observe that reducing anytime within the next 2 to 3 years."